Fathom Nickel (CSE:FNI) is conducting a non-brokered private placement to raise C$3 million ($3.17 million) to resume drilling at the Gochager Lake Project in Canada.
Under the placement, charity flow-through (FT) units will be issued at C$0.048 per unit and hard dollar units at C$0.031. Each charity FT unit will comprise one charity FT common share and one transferable common share purchase warrant, exercisable at C$0.05 for a 36-month period.
Crescat Capital has agreed to make a strategic investment for up to 20% of the offering.
CEO Ian Fraser says the upcoming drill program will test high-priority drill targets that have continued to refine through geological, geochemical, and geophysical analysis.
“The proceeds from this financing will allow us to complete a 3,000-to-4,000-meter program commencing mid to late February 2026, to assess the sub-surface geology along the 8km+ exploration target,” Fraser says.
Crescat Capital CEO Kevin Smith says early drilling at Gochager has discovered magmatic nickel-copper-cobalt sulphide mineralisation and Fathom Nickel’s recent fieldwork has defined a robust, open-ended soil geochemical anomaly spanning over 8km strike from northeast to southwest.
“The current raise will allow the company to complete a three-to-four thousand-meter drill program that will test the highest priorities in a very impressive inventory of drill targets,” Smith says.
“I am very glad to see the company get back to work at this exciting project and eagerly await drill results expected in early Q2.”
Crescat Capital is a global macro asset management firm headquartered in Denver, Colorado.
Fathom Nickel is a mineral explorer focused on targeting magmatic nickel sulphide discoveries to secure the supply of North American critical minerals.
Gochager Lake covers 33,629 hectares and is located 75km north-northeast of La Ronge and 22km west-northwest of Missinipe, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Fathom Nickel
