Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) provided an update on the current exploration campaign at its Gochager Lake Project in Saskatchewan, in which time domain borehole (BHEM) electromagnetics had been trialed for the first time.
The exploration company said the BHEM results were successful in defining the high conductance nature of the nickel-bearing sulphides associated with the deposit.
“With this new round of BHEM surveys, our goal was to design a program which would help illuminate targets of multiple orientations and we are very encouraged with the initial results,” Fathom Nickel CEO Ian Fraser said in a statement.
“In particular, drill hole GL18001, which intersected 1.96% nickel over 2.7 metres, is associated with a strong in-hole anomaly,” he added.
Fraser also noted that the surveys encountered strong off-hole anomalies directly below and above the intersection that appear to lie in areas of no historical drilling.
The company further stated that untested BHEM anomalies show the enormous potential for the expansion of high-grade nickel-cobalt sections within the historic deposit.
The current exploration campaign began on June 8, 2023, and is expected to run through the first week of July, and there is a budget in place for an upcoming drill program that will test positive off-hole BHEM responses, Fathom Nickel said.
The company added that the drill program will start once the BHEM results and data from an in-progress surface electromagnetic program have been thoroughly reviewed and interpreted, which is expected to occur in early August.
Fathom Nickel is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market.
The company owns a portfolio of two high-quality exploration projects located in the prolific Trans Hudson Corridor of Saskatchewan.
Contact Sean at sean@proactiveinvestors.com