Fathom Nickel (CSE:FNI) Inc has announced assay results from a two-drill hole program at the Gochager Lake deposit within the 19,342-hectare project of the same name.
Highlights include continuous nickel mineralization of 1.49% over a length of 58.2 meters, including intercepts as high as 2.95% over 4.2 meters. The program encountered impressive cobalt grades throughout all zones of mineralization, including a 4.2-meter section grading 0.22%.
Both drill holes were probed by borehole electromagnetic (BHEM) tools, and results suggest a continuation of mineralization to depth and possibly along a greater strike extent than previously recognized. Numerous, robust off-hole BHEM conductors are expected to be targeted in future exploration programs, the company said.
"The impressive nickel-cobalt values and, importantly, their consistency over broad intersections, has us very excited and extremely pleased with the results of the two-hole program completed in February,” CEO Ian Fraser said in a statement. “Simply put, this program has been a tremendous success.”
He continued: “We achieved our three-pronged goal of 1) intersecting high-grade nickel bearing semi-massive to massive sulphide mineralization; 2) successfully testing for associated cobalt mineralization; and, 3) employing the BHEM tool for the very first time at this project - a tool which has proved very successful at Albert Lake. The very high-grade, localized 3PE mineralization encountered in drill hole 23003 is also an indication of a potential source to this mineralization, yet to be determined.”
Fathom is the first company to systematically sample the Gochager Lake style of mineralization for cobalt, platinum, palladium and gold. The cobalt results are very positive and potentially add a significant credit to the nickel-copper mineralization, the company said.
The localized, extremely high-grade 3PE in both drill holes is very surprising and an indication of potential 3PE credits associated with this style of mineralization, the company noted.
"Our decision to significantly expand the Gochager project by acquiring the Watts Lake claims was based on our anticipation of these positive assay results,” Fraser said. “We have locked up a contiguous land package, now totaling over 19,000 hectares, that links the Gochager Lake deposit to the Mal Lake nickel occurrence 10 kilometers southeast of Gochager. The historic drilling at Mal Lake suggests an analogy between the Gochager Lake deposit and the nickel mineralization at Mal Lake."
A full breakdown of the results can be found here.
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