Fathom Nickel Inc (CSE:FNI, OTCQB:FNICF) has reported promising results from its recent exploration program at the Gochager Lake property. CEO Ian Fraser provided an update on the progress and future plans in an interview with Proactive's Stephen Gunnion.
The recent field program included an extensive soil geochemical survey aimed at identifying signals over the historic deposit. These signals can be used to locate similar deposits elsewhere on the property. The mapping and sampling of outcrops showed subsurface signals extending up to 400 metres east-northeast of the historic deposit. This indicates increased complexity and potential for finding larger deposits.
According to Fraser, the area is rich in significant magmatic nickel, copper, and cobalt deposits. The historic Gochager Lake deposit is hosted in a gabbro, a type of mafic intrusion. The discovery of more ultramafic rock with sufficient sulphur saturation expands the potential for magmatic deposits.
The exploration program also identified similar signals at the Mal Lake site, located ten kilometres southeast of Gochager Lake. This suggests a common source for the mineralization and significantly increases the scope and potential of the area.
Looking ahead, Fathom Nickel plans to establish a camp at Gochager Lake in early August. Drilling is expected to begin by mid-September, following detailed data analysis and drill planning.
The implications of these findings are substantial for the mining industry and for stakeholders in Fathom Nickel. The identification of larger deposits and a common source of mineralization could lead to increased extraction activities, thereby boosting local economies and contributing to the global supply of essential metals like nickel, copper, and cobalt. These metals are crucial for various industries, including electronics, electric vehicles, and renewable energy technologies.
In conclusion, Fathom Nickel's recent exploration results at Gochager Lake highlight the significant potential for larger magmatic deposits in the area. With plans to commence drilling by mid-September, the company is well-positioned to further explore and possibly expand its resource base, which could have far-reaching impacts on the mining industry and beyond.
