Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) has reflected on its progress advancing its Gochager Lake and Albert Lake magmatic nickel sulphide projects in north-central Saskatchewan, Canada, during 2024 and provided an outlook for 2025.
The company said its methodical and scientific approach to exploration continues to attract the interest of notable third parties.
At the Gochager Lake Project, 2024 drilling confirmed that the historic deposit is open for expansion both at depth and along strike.
Exploration has expanded the project’s footprint 25 times larger than the original deposit.
At Albert Lake, drilling in the Nic5 - Tremblay-Olson area revealed a subsurface mineralized ultramafic rock, confirming the presence of a geochemical anomaly.
The discovery supports the idea that the region's mineralization is part of a larger magmatic nickel sulphide system, with the potential for further high-grade finds.
Fathom also uncovered a gold zone 17 kilometers along strike of the Ranger gold discovery, with grades reaching up to 2.68 grams per ton of gold.
CEO Ian Fraser highlighted that the company was able to advance both of these projects in what was a very challenging junior exploration environment in 2024.
“At Gochager, in just over a year and a half, and with just over 5,000 meters of drilling, we have re-constructed and expanded the historic Gochager Lake deposit,” Fraser said.
“Importantly, our understanding of the dynamics and controls of this deposit have put us in an excellent position to make new, more significant discoveries at the 23,000-hectare Gochager Lake project. Now that we are armed with a comprehensive understanding of the geology, it is time to hunt for elephants.”
He highlighted that the new gold discovery at Albert Lake has attracted significant interest in the property.
“We look forward to leveraging this opportunity going forward and continuing our exploration efforts in the Nic5 - Tremblay-Olson area,” the CEO said.
Looking ahead to 2025, Fathom plans to conduct several exploration activities, including a 75-line-kilometer electromagnetic survey at Gochager Lake, drilling at Mal Lake, and mapping and prospecting at both Gochager Lake and Albert Lake South gold zone.
The company anticipates improved nickel prices in 2025, driven by supply constraints in Indonesia and increasing demand for North American critical metals.