Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) has reported promising exploration results from its recent field program at the Gochager Lake property. According to CEO Ian Fraser, the company's geochemical survey and outcrop sampling have identified substantial signals extending up to 400 meters east-northeast of the historic deposit. This indicates a higher degree of complexity and potential for discovering larger deposits.
The Gochager Lake deposit is historically known for its magmatic nickel, copper, and cobalt reserves. The deposit is hosted within a gabbro, a type of mafic intrusion. The field program has revealed additional ultramafic rock with sufficient sulphur saturation, further expanding the potential for magmatic deposits.
Additionally, the exploration program identified similar geochemical signals at the Mal Lake site, located ten kilometres southeast of Gochager Lake. This suggests a common source for the mineralization across both sites, significantly increasing the scope and potential of the entire area.
In the coming months, Fathom Nickel plans to establish a camp at Gochager Lake by early August. Detailed data analysis and drill planning will precede the commencement of drilling activities by mid-September.
These developments mark a crucial phase for Fathom Nickel as they aim to leverage the newly discovered data to potentially boost resource estimates at Gochager Lake. The findings could have significant implications for the mining industry, particularly in terms of nickel, copper, and cobalt supply, which are essential for various high-tech and industrial applications including electric vehicle batteries.
