Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) told investors it expects to complete its ongoing drill program at the Gochanger Lake nickel project in Saskatchewan in April with assay results due by the last week of May.
The exploration company said that, as of March 30, 2024, it has completed four drillholes totalling 1,779 meters drilled, which all intersected significant mineralization and semi-massive mineralization was confirmed to depths of 423 meters.
This is the deepest known mineralization to date at the project, the company highlighted.
The drill program was designed to test the continuity of mineralization outside of the known boundaries of the historic deposit, both at depth and along strike.
CEO and VP Exploration Ian Fraser expressed his pleasure with the company’s progress at Gochanger Lake.
“We are particularly excited that we have intersected zones of semi-massive to massive sulphide mineralization that we interpret as a new discovery, and at depths not previously recognized at the historic Gochager Lake deposit,” Fraser said.
“Importantly, the follow-up BHEM surveys are telling us that these new zones of mineralization are wide open for expansion to depth, down plunge, up plunge, and along strike. Furthermore, the host gabbro remains open to depth.”
Fraser highlighted that Fathom Nickel’s decision to use a consistent northwest-to-southeast drilling azimuth is allowing the company to better recognize and understand the dynamics of the host intrusive gabbro.
“The drill program is off to a tremendous start and, in a very short period, we have demonstrated the historic Gochager Lake deposit is open for expansion to depth and along strike,” he said.
“We look forward to the remainder of the drill program and reporting the results once all assays are in hand”.