Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) announced the final results of its June soil and rock geochemistry program at the Gochager Lake Property, which has significantly extended the geochemical footprint of the historic Gochager Lake deposit.
The 22,000-hectare property now shows potential mineralization up to four kilometers along trend from the original site, according to a release from Fathom.
The geochemistry program revealed a substantial increase in the footprint of the variable-textured gabbro associated with the deposit, expanding it by approximately 12.5 times.
In particular, soil samples identified a highly anomalous nickel-copper-cobalt-chrome-magnesium signal over an area 25 times larger than the historic deposit, covering 1.7 square kilometers.
Ian Fraser, CEO and VP Exploration of Fathom Nickel, told shareholders that the company is “ecstatic” with the results.
“We are very confident that our exacting exploration approach will continue to successfully expand the historic Gochager Lake deposit along strike and to depth - in terms of both grade and tonnage,” Fraser said in a statement.
“Based on continuing results, there is clear and compelling potential for a major discovery to be had here.”
Fathom Nickel also announced the completion of an all-season camp at the project site that would hold between 20 and 25 people.
Results from a recent Drone MAG survey conducted in early August are anticipated in September.