Fathom Nickel Reports Promising Drill Results from Gochager Lake Project

May 28, 2024 at 12:04 PM EDT

--News Direct--

Fathom Nickel CEO Ian Fraser joined Steve Darling from Proactive to share exciting results from the company's recent drilling program at the Gochager Lake Project. The Q1/Q2-24 drill campaign involved seven drill holes, covering a total of 2,656 meters, as part of a broader program where 16 holes were drilled, totaling 5,543 meters.

Fraser reported that the company has now defined a mineralized gabbro unit containing interstitial disseminated magmatic pyrrhotite, pentlandite, and chalcopyrite. This mineralization extends over a northeast-southwest strike of approximately 300 meters and a vertical extent exceeding 400 meters. Importantly, the Gochager Lake deposit remains open for expansion in multiple directions and at depth, offering significant potential for future exploration and development.

The company believes that the disseminated and massive sulphides identified in the drilling are related to a common magmatic source. This source may have injected sulphides as a separate pulse from a larger, yet undiscovered magma chamber. These sulphide-rich zones consistently align with downhole Borehole Electromagnetic (BHEM) conductors occurring within the mineralized gabbro unit. Fathom is particularly encouraged by the presence of semi-massive to massive high-grade sulphide veins, which contain up to 3.25% nickel (Ni). These high-grade intersections are positive indicators that the exploration efforts are nearing the identification of the late-phase magmatic source.

Fraser emphasized that these findings underscore the potential of the Gochager Lake Project. The presence of high-grade nickel sulphide veins within the broader mineralized zone suggests a robust system with significant exploration upside. The company plans to continue its systematic exploration approach, including additional drilling and geophysical surveys, to further delineate and expand the known mineralization.

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