Fathom Nickel (CSE:FNI) says it has discovered new zones of nickel-copper-cobalt mineralisation at its Gochager Lake Project in Saskatchewan, Canada, supporting potential resource growth.
A recently drilled hole intersected a 21.44m mineralised interval southwest of the Gochager Lake deposit, returning grades above 1% nickel in zones of increased sulphide abundance, the company says.
The discovery comes just days after Fathom released a maiden mineral resource estimate (MRE) for the property.
The MRE comprises an indicated resource totalling 858,701 tonnes grading 0.41% nickel, 0.12% copper, and 0.03% cobalt. Within this is a higher-grade portion comprising 192,144 tonnes grading 0.78% nickel, 0.21% copper, and 0.06% cobalt.
According to Fathom, the newly drilled intercept is approximately 75m beyond the MRE boundary and about 150m west of high-grade mineralisation inside the MRE’s open-pit shell. The mineralisation remains open to the southwest.
Moreover, two additional holes intersected a new mineralised zone at depth, approximately 155m northeast of the maiden MRE.
In one hole, the sulphide mineralisation was intersected across 54.79m of drill core, with assays returning grades up to 0.70% nickel and 0.65% copper.
Potential MRE growth
Fathom CEO and VP Exploration Ian Fraser says the results support potential resource expansion.
“We believe these results provide important support for the project’s next stage of growth,” Fraser says.
He goes on to highlight that the results demonstrate a “clear potential to expand MRE mineralisation along strike and at depth”.
The results are part of Fathom’s phase two drilling at Gochager Lake, designed to test off-hole conductive zones identified surveys during the first phase, as well as mineralisation along strike of the deposit.
The program consisted of eight drill holes totaling 3,094m.
“Overall, Phase 2 has identified multiple target areas with potential to expand the maiden MRE and has outlined additional exploration opportunities within intrusive lithologies along strike and at depth,” Fraser adds.
Fathom Nickel is an exploration company targeting magmatic nickel sulphide discoveries to secure the supply of North American critical minerals.
Write to Jackson Chen at Mining.com.au
Main Image: Fathom Nickel
