Business
Fathom Nickel Anticipates Gochager Lake Exploration Permit Week of January 23, 2023
Calgary, Alberta--(Newsfile Corp. - December 8, 2022) - Fathom Nickel Inc. (CSE:FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announc
About this update from Fathom Nickel, Inc.
[{"type":"text","content":" Calgary, Alberta--(Newsfile Corp. - December 8, 2022) - Fathom Nickel Inc. (CSE:FNI) (FSE: 6Q5) (OTCQB: FNICF) (the \"Company\" or \"Fathom\") is pleased to announce we have been notified by the Saskatchewan Ministry of Environment that they anticipate a decision on the Gochager Lake Exploration Permit on or about January 23, 2023. Fathom submitted its Exploration Permit application on October 21, 2022 and, if granted by the anticipated date, will align very well with Fathom's initial exploration plan for the Gochager Lake Project. As announced on September 19, 2022 (see Press Release Sep. 19/22), Fathom entered into an Earn-In Option Agreement on the Gochager Lake Property (the \"Property\") to earn up to a 100% interest in the Property over a four-year period. Since the execution of the Earn-In Agreement, Fathom's technical team has been reviewing historic data in preparation for the Q1-2023 exploration program. Exploration plans and budget have not been finalized but the Company anticipates a program that will consist of the following: Re-analysis of drill core samples from a 2018 drill program (conducted by a previous operator) that intersected up to 1.95% Ni / 2.70m to determine actual sulphur percentages and nickel tenor associated with this style of nickel mineralization. Whole rock geochemistry analyses of the historic deposit host rock type, and on an ultramafic intersection drilled in 2018, at depth and below the historic deposit. Twinning of historic drillhole I-12 that was drilled in 1966. Historic drillhole I-12 intersected 290.4m of 0.58% Ni, 0.11% Cu starting at 3.7m below surface. Within this drillhole, several intervals up to 34.3 meters in thickness returned values > 1.0% Ni. A 9.7m intersection at a depth of 292.6m ran 2.37% Ni and 0.35% Cu. Subsequent analysis of this interval for Cobalt, returned 0.14% Co / 9.7m. It is important to point out that the contained Cobalt content within the historic Gochager Lake deposit was either ignored or not recognized by the operator that defined the historic NI 43-101 non-compliant resource (see Press Release Sep. 19/22). Fathom will sample the entire mineralized interval of the twin hole (I-12) for Ni, Cu and Co, plus Pd-Pt+Au to have a complete understanding of the Gochager Lake deposit style of mineralization. The higher-grade Ni-Cu+Co mineralization in histori...