Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) reported promising nickel intersections from its first quarter drilling program at the Albert Lake project.
Its most significant find came from Drillhole AL24077, where 0.42% nickel was intersected over 2.01 meters, which the company said was characterized by an exceptionally high nickel tenor close to 10% - similar to the nearby historic high-grade Rottenstone deposit.
"The elevated nickel concentration in Rottenstone-like ultramafic rock and the very-high associated nickel tenor identified in our drillhole AL24077 is a very significant development," chief executive Ian Fraser said in a statement.
Next, the company plans to extend its exploration work to include detailed surface geochemistry and geophysics, aiming to better understand the significant soil geochemistry anomalies and their implications for nickel sulfide mineralization.
Given the high nickel tenor, the company sees potential for large-scale mineralization, and as such the results to date set the stage for a targeted exploration program that seeks to delineate the extent of these mineralized zones.