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First Atlantic Nickel Increases RPM Zone Strike Length 50% to Over 1.2 km and Width to Over 800 m from Phase 2x Drilling at Pipestone XL Magnetic Nickel-Cobalt Alloy Project
GRAND FALLS-WINDSOR, Newfoundland and Labrador, Jan. 27, 2026 (GLOBE NEWSWIRE) -- First Atlantic ...
About this update from First Atlantic Nickel & Cobalt Corp.
[{"type":"text","content":"First Atlantic Nickel Increases RPM Zone Strike Length 50% to Over 1.2 km and Width to Over 800 m from Phase 2x Drilling at Pipestone XL Magnetic Nickel-Cobalt Alloy Project\nGRAND FALLS-WINDSOR, Newfoundland and Labrador, Jan. 27, 2026 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (\"First Atlantic\" or the \"Company\") is pleased to announce positive assays and Davis Tube Recovery (\"DTR\") metallurgical results from the final four drill holes (AN-25-11 to AN-25-14) of the RPM Zone Phase 2X drilling program at its Pipestone XL Nickel-Cobalt Alloy Project in central Newfoundland. Results have increased the RPM Zone strike length by 50% to greater than 1.2 kilometers and expanded the lateral width to over 800 meters (see Figure 8 and 9). Hole AN-25-11, a ~250m step-out east on Section S1, returned an average of 0.13% DTR Ni over 402 meters, calculated from 1.31% Ni in magnetic concentrate with a 10.01% mass pull. Hole AN-25-13, a 400-meter northern step-out on new Section S4, returned an average of 0.10% DTR Ni over 371 meters, calculated from 1.11% Ni in magnetic concentrate with a 9.10% mass pull. All 14 RPM Zone drill holes have returned positive magnetically recoverable awaruite (nickel-iron-cobalt alloy) results. This rapidly expanding footprint has outlined a significant area for resource drilling to define a large-scale, bulk tonnage awaruite (nickel-iron-cobalt alloy) resource, that could be processable onshore through magnetic separation and flotation that is safe, secure, and sustainable at scale, supporting a mine-direct-to-refinery supply chain. On December 23, 2025, the Company closed a non-brokered private placement, without warrants, for gross proceeds of $2.6 million through the issuance of flow-through common shares. The net proceeds have been deployed to accelerate the Company’s Winter 2026 drill program. Colder ground conditions have enabled rapid, efficient access to drill locations of interest, consistent with the Company's goal of developing a multizone district of awaruite nickel-iron-cobalt alloy mineralization across the 30-kilometer Pipestone XL trend. Davis Tube magnetic separation analysis has produced an approximate 1.3% nickel concentrate from near-surface mineralization at the RPM Zone. Ongoing metallurgical studies are targeting a further upgrade to a...