- Summer / fall 2021 exploration and drilling program begins at the Albert Lake nickel, copper, cobalt and PGE sulphide project in Saskatchewan.
- Field exploration teams arrived at the site during the week of June 14 to begin a five-month field program.
- Initial exploration contract services and TerraLogic Exploration to perform EM drilling (BHEM), gravity surveys, soil geochemistry, geological mapping, prospecting and core drilling.
- Starting in mid-July, BECI Exploration Consulting will conduct an AirTEM helicopter survey (1,500 l-km) detailing the discovery area of the Island showing and specific targets in the 2021 exploration area.
- The initial objective of the program is to define and refine the drilling targets for 2021 and 2022.
- A 5,000 m drilling program for identified targets is expected to start at the end of August.
Calgary, Alberta – (Newsfile Corp. – June 22, 2021) – Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (the “Company” or “Breaststroke“), announces that the summer / fall exploration program has started at its Saskatchewan Albert Lake Nickel, Copper, PGE project and provides an overview of planned activities, including a 5,000 m drilling program scheduled to begin in late August ( the “Summer / fall 2021 exploration and drilling program “).
Field exploration teams arrived at the Albert Lake camp during the week of June 14, 2021 to initiate a five-month field program. Fathom has contracted the services of Initial Exploration Services and TerraLogic Exploration which will perform the ME of the drilling (“BHEM“), gravity surveys, soil geochemistry, geological mapping, prospecting and coring. In addition, the Company retained the services of BECI Exploration Consulting to produce a helicopter-borne AirTEM of 1,500 l-km (“AirTEM “) survey detailing the discovery area of the Island showing and specific targets in the 2021 exploration area which is expected to begin in mid-July. The exploration program is focused on defining and refining the drill targets to be drilled during the second half of the 2021 program and the winter drill program in the first quarter of 2022.
“We look forward to starting our summer / fall 2021 exploration and drilling program which builds on the key lessons learned from the results of the Q1-2021 program. Our better understanding of the historic Rottenstone deposit and the now recognized similarities in our discovery area of the Island showing The company is poised to make further Rottenstone-like discoveries, ”commented Brad Van Den Bussche, President and Chief of management. “With dozens of high quality potential targets under study and being refined, our overall goal is to identify several new discoveries on the Albert Lake project and ultimately begin the process of creating a compliant resource,” he added.
Summer / fall 2021 exploration and drilling program initiatives:
- Complete the MA of historic drill holes and detailed zones where the Company recognizes Rottenstone-type host rock, and additional detailed zones where out-of-hole conductivity has been recognized, which the Company interprets as representative of sulphide mineralization.
- Monitoring and continuation of soil geochemistry initiated in 2018, along the trend of the historic Rottenstone deposit to detail a historic B horizon soil sample that returned 155 ppm Ni, 70 ppm Cu and 411 ppb Pt 5 km northeast of the Rottenstone deposit and to cover new target areas with soil geochemistry.
- Geological mapping focused on structure and targeting, identifying potential rock types (ultramafic) and structural parameters likely to host Rottenstone-type deposits.
- Carry out a gravity survey on land to continue the survey initiated on lake ice in Q1-2021.
- Complete the AirTEM to better define the recognized off-hole conductivity in borehole AL21021 (see press release of June 7, 2021) and to test the conductivity associated with MAG anomalies defined in Q1-2021 at the property level , 9000 l-km, high resolution, gradient MAG survey.
- Drill high priority drill-ready targets identified through extensive compilation of historical BHEM data, coinciding with geochemical and geophysical anomalies (as identified in Figure 2).
In addition to targets ready for drilling, the Company looks forward to interpreting the results of the summer AirTEM survey, in conjunction with the Gradient MAG, gravity surveys, and geochemistry and surface geology programs which are all designed to define additional targets ready for drilling. intends to perform drill testing in late summer through fall 2021 and the first quarter of 2022.
Management plans to provide regular updates on the exploration program as milestones are reached and significant developments and results become available. Drilling is expected to start at the end of August.
Figure – 1: Milestones in Fathom’s summer and fall 2021 exploration and drilling program
Figure – 2: Objectives of the summer / fall 2021 exploration and drilling program
Qualified person and data verification
Ian Fraser, PGeo., VP Exploration and Director of the Company and the “Qualified Person” as defined by National Instrument 43-101, has verified the data disclosed in this press release and has otherwise reviewed and approved the information contained in this press release on behalf of the Company.
About Fathom Nickel Inc.
Fathom Nickel is a resource exploration and development company targeting discoveries of high grade nickel sulfide for use in the rapidly growing global electric vehicle market.
The Company is stepping up exploration at its flagship Albert Lake project, host to the historic Rottenstone mine, which is recognized as one of the highest-grade deposits of this type (Nickel, Copper, Platinum group metals) ever mined in Canada . The Albert Lake project includes over 90,000 ha of mining claims located in Saskatchewan’s Trans-Hudson Corridor, which is home to many world-class mining camps.
ON BEHALF OF THE BOARD
“Brad Van Den Bussche”
President and CEO, Director
For more information, please contact:
Brad Van Den Bussche
Manish Grigo, Director of Corporate Development
This press release contains “forward-looking statements” which are based on expectations, estimates, projections and interpretations as of the date of this press release. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “plan”, “seek”, “intend”, “believe”, “anticipate”, “estimate”, “Suggest”, “indicate” and other words or similar statements that certain events or conditions “may” or “will” occur, and include, without limitation, statements concerning the improvement of the geological model of the Company and the extension of zones of known mineralization and the Company’s work to define a base resource. These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by these. forward-looking statements. These risks and other factors may include, but are not limited to, the results of exploration activities; the Company’s ability to carry out other exploration activities; the timing and availability of external financing on acceptable terms. The Company does not undertake to update forward-looking information, except in accordance with applicable securities laws.
NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES. ANY NON-COMPLIANCE WITH THIS LIMITATION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS.