Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) is seeing a number of favourable target areas at its Albert Lake project in Saskatchewan.
In an exploration update, the company said its exploration efforts have achieved a significant milestone through a comprehensive time domain electromagnetic (TDEM) survey, a powerful tool in locating subsurface mineral deposits.
The survey focused on the Tremblay-Olson Claims Area, where an impressive multi-element-in-soil anomaly was previously identified.
According to Calgary-based Fathom, the TDEM results, while in the process of interpretation, have yielded notable insights into potential mineralization. A standout discovery involves a robust TDEM conductor located approximately 1,000 meters south-southwest of the historic Rottenstone Mine/deposit.
Initial analysis of this conductor indicates substantial conductivity, forming a flat-lying body spanning around 450 meters by 150 meters and lying roughly 300 meters beneath the surface, according to the company. The conductor coincides with the multi-element-in-soil anomaly at the eastern boundary of the Tremblay-Olson Claims area, holding critical importance at the juncture of metasedimentary supracrustal rocks and granitoid intrusive rocks.
The conductor is also directly correlated with a compelling gravity anomaly, which suggests the presence of denser subsurface rock formations. Moreover, this conductor is proximate to the Nic-5 and Tremblay-Olson showings, both established sites of mineralized ultramafic rock occurrences.
Ian Fraser, CEO and VP Exploration at Fathom, expressed enthusiasm over the systematic approach to exploration undertaken at Albert Lake.
“Our methodical approach to exploration at Albert Lake continues to uncover high-priority drill target areas,” Fraser said in a statement.
“This recently identified prominent TDEM conductor occurs in association with both strong surface geochemistry and surface gravity surveys completed in the past year. Coincident surface geochemistry, gravity and subsequent TDEM surveys is what lead us to the Bay-Island Trend discovery.”
Fraser added that Fathom’s team expects more drill targets to emerge once they complete final interpretation of the recent TDEM data set and merged it with previous TDEM data sets collected since 2021.
Fathom is planning a comprehensive drill program focused on the deep TDEM/Gravity anomaly in the first quarter of 2024 as part of the upcoming winter drill campaign.
Simultaneously, Fathom is gearing up for the Gochager Lake drill program, which follows up on the exceptional outcomes from the February 2023 drill campaign. Notably, the upcoming program aims to explore several off-hole conductor targets identified through borehole electromagnetic surveys.
Drilling is slated to start by the week of August 28.
Contact Angela at angela@proactiveinvestors.com
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