Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) has provided an exploration update for recently completed drilling at its Gochager Lake Project in Saskatchewan, saying the drill holes completed to date have intersected multiple zones of semi-massive sulphide mineralization that is "both very nickeliferous and very conductive”.
The exploration company also noted that, perhaps more importantly, there is building evidence, based on both borehole electromagnetic (BHEM) data and the occurrence of multiple examples of massive sulphide veins isolated from the disseminated halo mineralization, that there is a potential 'feeder' system/zone of significant massive sulphides proximal to drill holes completed to date.
"Very conductive, semi-massive sulphides intersected in GL23003 returned 58.2 meters of 1.49% nickel," Fathom Nickel CEO Ian Fraser said in a statement.
"A massive sulphide vein intersected in GL23008 is suggestive of a much larger source of massive sulphides and the BHEM results from this drillhole are suggestive of a very conductive source, possibly a significant body of massive sulphides, nearby," he added.
Fraser also stated the mineralization defined to date confirms the deposit is wide open to depth, but importantly the intrusion and the scope of potential mineralization within this intrusion is also wide open.
As well, Fathom said the results validate its exploration thesis that within the historic Gochager Lake deposit, previously unrecognized steeply oriented, high-grade nickel-copper-cobalt bearing chute(s) exist within a very broad halo of nickel-bearing disseminated sulphide mineralization.
Final assay results should be completed within the next 10 days, according to the company.
Fathom Nickel is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle (EV) market.
Contact Sean at sean@proactiveinvestors.com