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Fathom Nickel Announces Option Agreement on the Gochager Lake Nickel-Copper-Cobalt Project with Historic Drill Intercepts up to 2.79% NiEq*
Executed option agreement for up to 100% of the Gochager Lake Property, a nickel-copper-cobalt project consisting of 4,696 hectares in north-central Saskatchewa
About this update from Fathom Nickel, Inc.
[{"type":"text","content":" Executed option agreement for up to 100% of the Gochager Lake Property, a nickel-copper-cobalt project consisting of 4,696 hectares in north-central Saskatchewan. Property contains a historical, open pitable, NI 43-101 non-compliant resource of 4,262,400 tons at 0.295% Ni, 0.081% Cu. 1990 resource calculation suggested 1,770,000 tons at 0.735% NiEq* (NI 43-101 non compliant). Historic resources suggest an estimated 25 million pounds of contained nickel. (The reader is cautioned that this estimate is based on a historic, NI 43-101 non-compliant resource as reported in the Saskatchewan Mineral Deposit Index, SMDI # 0880). Historic drillhole I-12 contained a drill intercept of 0.581% Ni, 0.113% Cu over 290.40 meters (0.62% NiEq*), including an interval of 2.369% Ni, 0.350% Cu and 0.143% Co over 9.70 meters (2.79% NiEq*) Calgary, Alberta--(Newsfile Corp. - September 19, 2022) - Fathom Nickel Inc. (CSE:FNI) (FSE: 6Q5) (OTCQB: FNICF) (the \"Company\" or \"Fathom\") is pleased to announce that it has entered into a mineral property option agreement (the \"Option Agreement\") with the sole owner of the Gochager Lake Property (the \"Property\"). The Option Agreement provides Fathom with the exclusive right and option to earn, subject to the reservation of a 2% net smelter return royalty, up to a 100% title and interest to nine mineral claims covering approximately 4,696 hectares located in north-central Saskatchewan. The Property is approximately 60 km southwest from the Company's flagship Albert Lake Property in north-central Saskatchewan. \"We are excited to execute the Option Agreement for the Gochager Lake Project. My first-hand knowledge of the Property suggests that there is significant exploration upside and, specifically, potential to define massive sulphide sections within the known historic deposit. There is also significant cobalt associated with this style of mineralization, however, cobalt was not systematically included in the historical assay process. Furthermore, there is the opportunity to utilize borehole electromagnetic (\"BHEM\") probes in historic drill holes. BHEM is a proven methodology in defining massive sulphide bodies and we know that the massive sulphide at Gochager Lake is nickel-cobalt rich,\" commented Ian Fraser, CEO & VP Exploration. About the Gochager Lake Property The Gochager Lake Proper...