Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) said recent exploration at the Gochager Lake property revealed significant nickel, copper, and cobalt mineralization.
Key findings include the collection of 1,757 B-horizon soil samples from 2,047 locations, 50 outcrop samples for whole rock and geochemical analysis, and 554 chip samples scanned with portable X-ray fluorescence (pXRF).
The pXRF scans revealed notable mineralization, including up to 20,647 ppm Ni (2.06% Ni), 6,922 ppm Cu, and 1,295 ppm Co.
The program involved geological mapping, prospecting, soil geochemistry analysis, and in-field core analysis.
Geological mapping identified zones of magmatic sulphide nickel with elevated chromium, with nickel tenors matching or exceeding those at the Gochager Lake deposit found to the north, southwest, and east of the deposit.
The team reconciled surface outcrop rock types with subsurface lithology defined by Fathom drilling, which revealed that the same unique geochemical signals recognized in drill core are present in outcrops 200 to 400 meters along strike and indicating a very open magmatic system.
CEO and VP Exploration Ian Fraser highlighted the potential for the ultramafic rocks encountered at depths of over 400 meters to host separate Ni-Cu-Co deposits, if sufficiently saturated with sulphide.
“The scale of potential at Gochager - both in the vicinity of the historic deposit, but also further afield, has now proven to be considerably larger than previously understood,” Fraser said in a statement.
This potential is further supported by the recent review of Mal Lake drill core, Fraser added.
Results are being evaluated ahead of a proposed autumn drill program.