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Fathom Nickel Announces the Acquisition of Claims Containing the Tremblay-Olson Ni-Cu+PGE Showing Within the Albert Lake Property
Calgary, Alberta--(Newsfile Corp. - July 6, 2022) - Fathom Nickel Inc. (CSE:FNI) (FSE: 6Q5), (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce t
About this update from Fathom Nickel, Inc.
[{"type":"text","content":" Calgary, Alberta--(Newsfile Corp. - July 6, 2022) - Fathom Nickel Inc. (CSE:FNI) (FSE: 6Q5), (OTCQB: FNICF) (the \"Company\" or \"Fathom\") is pleased to announce the acquisition of the Tremblay-Olson Ni-Cu+PGE Showing (\"Trembley-Olson Showing\"). Fathom purchased 100% of the Tremblay-Olson Showing claims, totaling 315 Ha, from Eagle Plains Resources Ltd. (\"Eagle Plains\") in exchange for a 2% Net Smelter Return (\"NSR\") royalty. Fathom has the right to purchase back 1.0% of the NSR for a one-time cash payment of $1,000,000. Including this recent acquisition of the Tremblay-Olson Showing claims, the Albert Lake Property now consists of 31 claims totaling 91,545 Ha. Brad Van Den Bussche, CEO of Fathom commented, \"The significance of this acquisition for Fathom is twofold. Firstly, the Tremblay-Olson Showing represents the final piece of mineral tenure within the Albert Lake block - Fathom is now the 100% owner of the entire land package. Secondly, the claims contain known mineralized occurrences including the surface-exposed Tremblay-Olson Showing, which will be a prioritized exploration target moving forward.\" The Tremblay-Olson Showing refers to an ultramafic hosted Ni-Cu+PGE showing 2.4 km southwest of the historic Rottenstone Mine: Similar to the historic Rottenstone Mine, there is a long history of exploration within the Tremblay-Olson Showing area; Trenching and stripping up to 106.7 m in length has exposed a lens of mineralized pyroxenite containing up to 40% sulphides and samples collected of mineralized material within the trench have assayed up to 3.11% Ni, 0.34% Cu, 1.01 g/t Pd and 0.46 g/t Pt (Saskatchewan Mineral Deposit Index (SMDI) #0959); The last recorded exploration within the Tremblay-Olson showing area was by Placer Dome Inc. (\"Placer\") in 1987; Placer, through an option agreement with American Platinum Inc., completed eight drillholes (693m) to test anomalous soil geochemistry (Ni-Cu) and coincident geophysical anomalies to the northeast of the Tremblay-Olson Showing; and, Two drillholes intersected anomalous Ni and Cu (up to 630 ppm Ni, 1320 ppm Cu) and Pd and Pt (up to 115 ppb Pd, 90 ppb Pt) within significant widths (up to 26.9m) of mineralized metapelite. FIGURE 1 TREMBLAY-OLSON SHOWING CLAIM MAP Mr. Van Den Bussche added, \"Fathom's compilation efforts of available historical data from ...