Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) this week announced that it has received a new exploration permit for its Gochager Lake nickel project in Saskatchewan, meaning it has secured all the necessary permits to advance its exploration activities at the site.
The permit allows Fathom Nickel to drill up to 60 drill holes and construct an all-season camp, which will decrease helicopter use and reduce exploration expenses. The company also intends to establish ground and ice trails to move drills more efficiently.
CEO Ian Fraser joined Proactive to discuss the milestone.
Proactive: The big news out in the company is that you have secured the necessary permits that you need for the Gochager Lake project. A lot of work you're planning, of course, this year. And permits are a big part of it. So tell us all about it.
Ian Fraser: Absolutely. That was the most crucial first step, to get this permit in place. It was actually interesting. We applied for a camp, and with our ongoing discussions with the First Nations and the Indigenous folks, they are requesting that we do build a camp. We are trying to eliminate helicopter traffic as much as possible, and they're fully on board with that. Now that we have that in place, we can establish a camp, which will positively affect our exploration costs.
That's an important part of it because you obviously want to put all the money into the ground and spend less on using helicopters and things like that. The permit also allows you to do fly camps as well, so you can move people around, which gives, I would think, a little flexibility.
Absolutely. Importantly, part of the application was establishing trails. Without the helicopter, we'll be moving the drill around on a surface. So we’ll be establishing ground and ice trails. The fly camps give us flexibility. It's 22,000 hectares, so we have a lot of targets we want to look at. Boots on the ground out of a fly camp is a good first step.
Let's talk about the plan. I know drilling is one thing, but you've also had crews out there already, doing geophysical work and mapping and sampling. Can you talk about what they're doing right now?
Through our work, with the drilling we've done in 2023 and 2024, we have a good understanding of the dynamics of the multiple intrusions at the Gochager Lake deposit. We recognize this geochemistry and can define where it goes on the ground along with the geophysics. Towards the end of the month, we're having a drone mag survey. We're very confident that the mineralized gabbro, the container rock if you will, can be mapped out through geochemistry, mapping, and prospecting, and also with this high-resolution mag survey, we can determine for the first time how big this gabbro unit is.
As far as drilling, you're up to 60 drill holes you could potentially do if you wanted to. Is that part of this?
Yes. The strategy there is when you apply for drill holes, the Ministry of Environment looks at it as a footprint on the ground. That's 60 drill hole locations they are comfortable with over this two-year period. We can certainly drill three from one location, because it's just that footprint on the ground. We're looking to drill up to 15,000 meters, if not more, during this two-year period. We'll see how things unfold.
It's an exciting time for you to get all of this in place and be ready to go finally.
It is. Saskatchewan is a great place. We've had that discussion several times. But you never know, sometimes things get dragged out. The fact that it's all in place now is a positive first step in our ongoing exploration plans.
Quotes have been edited for clarity and style