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Fathom Nickel Announces Completion of Drilling at Albert Lake Project and Commencement of Drilling at the Gochager Lake Project
Calgary, Alberta--(Newsfile Corp. - March 13, 2024) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce
About this update from Fathom Nickel, Inc.
[{"type":"text","content":" Calgary, Alberta--(Newsfile Corp. - March 13, 2024) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the \"Company\" or \"Fathom\") is pleased to announce that drilling has been completed at the Company's 100% owned Albert Lake Project and that drill, and crews have mobilized to the Gochager Lake Project. Drilling commenced at the Gochager Lake Project on March 12 and is expected to continue through mid-April 2024. Summary of the Albert Lake Project drill program is as follows: Six (6) holes were drilled amounting to 1,386 meters drilled (Figure 1). Drillhole AL24075, the first drillhole of the program was designed to test the very robust EM-coincident gravity anomaly. The drillhole intersected multiple zones of elevated sulphide mineralization from 295.0 - 348.5m. The host rock was not mafic/ultramafic in composition and pXRF scans of the mineralization suggest the mineralization is not that of a magmatic sulphide source. The semi-massive to locally massive sulphide mineralization hosted within sediment hosted sulphidic iron formation does explain the strong EM conductivity and the gravity feature targeted. The other five (5) drillholes focused on weaker EM features coincident with local strong multi-element soil geochemistry results. Multiple zones of varying conductivity were identified by BHEM surveys and within the detailed EM grids surveyed during the program. Several of these zones coincide with interpreted mafic/ultramafic intersections from the drilling and are worthy of more follow-up surface exploration and drilling. Assay results are expected by mid-late April 2024 and the Company will provide a complete summary of the Albert Lake program once assays are in hand. Ian Fraser, CEO and VP Exploration stated, \"Although we are disappointed the significant sulphide mineralization encountered in the first drillhole appears to be not magmatic in origin, we are encouraged that the remainder of the drill program did identify several, shallow weak to moderate zones of conductivity by BHEM and by our detailed surface EM grids. Some of these zones are coincident with zones of mafic - ultramafic rock intersected in our drill program. However, the robust soil geochemical anomaly that was our focus remains unexplained and eminently worthy of future exploration. Given the shallow nature of several of these new targets (&l...