Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) said it sees promising results from a review of historic drill core at the Mal Lake nickel occurrence within its Gochager Lake property in Saskatchewan.
The company's analysis revealed significant cobalt values of up to 0.29% associated with nickel-copper mineralization, which had not been assayed for in the original 1967 drilling.
CEO and VP Exploration Ian Fraser commented, "Our recent review of available Mal Lake drill core is another example of Fathom's diligent exploration process.
“We now have data suggesting that Mal Lake nickel mineralization is similar to and of the same origin as the Gochager Lake nickel mineralization. This is a very significant development."
The review indicated similarities between Mal Lake and Gochager Lake deposits in terms of nickel tenor, nickel-to-copper ratio, and nickel-to-cobalt ratio. This suggests that both sites could be part of the same magma conduit system, despite being located 10 kilometres apart.
Fraser added, "This Mal Lake exercise has really opened our eyes to the regional blue-sky potential of this vastly under-explored property. As we continue to expand the historic Gochager Lake deposit, we also look forward to exploring for and finding additional Gochager Lake/Mal Lake-like mineralized, gabbroic intrusives."
Fathom plans to include Mal Lake as a drill-ready target in its next winter program, highlighting the significant exploration potential of the area.