Ian Fraser Discusses Fathom Nickel’s Latest Nickel, Copper, and Cobalt Drilling Campaign

June 6, 2024 — In a recent interview on InvestorNews, Ian Fraser, CEO, VP Exploration, and Director of Fathom Nickel Inc. (CSE: FNI | OTCQB: FNICF), provided updates on the company’s Albert Lake and Gochager Lake projects. Fathom Nickel is focused on magmatic nickel sulphide discoveries to support the electric vehicle market, with key projects located in Saskatchewan’s Trans Hudson Corridor. The Albert Lake Project, encompassing over 90,000 hectares, includes the historic Rottenstone deposit, while the Gochager Lake Project spans more than 22,000 hectares and hosts a historic open pit resource.

Fraser shared insights from recent drilling at the Albert Lake Project, where initial results from the first hole, which targeted a deep conductor, revealed barium sulfides rather than the anticipated nickel mineralization. However, subsequent drilling yielded promising intercepts of orthopyroxenite with notable nickel and platinum group elements, indicating proximity to significant subsurface deposits. “It’s pretty significant and I think that is a very good indicator that we’re close,” Fraser noted. Despite challenges, including reliance on helicopters for drill transport, Fathom plans to continue surface geochemistry to refine future drilling targets.

Turning to the Gochager Lake Project, Fraser highlighted the success of the latest drilling campaign, which expanded the mineralized zone to depths of 422 meters. The project has shown substantial nickel, copper, and cobalt mineralization, with Fraser emphasizing the discovery of high-grade zones. “We put our results out last week and we’re very ecstatic,” he said. The drilling program, comprising over 5,000 meters across 16 holes, identified semi-massive to massive sulfides running up to 2.5% nickel. Fraser also mentioned the ongoing use of borehole EM, which has been instrumental in targeting successful drilling locations and guiding future exploration to potentially uncover deeper magma sources.

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About Fathom Nickel Inc.

Fathom is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market.

The Company now has a portfolio of two high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan: 1) the Albert Lake Project, a 90,000+ hectare project that was host to the historic and past producing Rottenstone deposit (produced high-grade Ni-Cu+PGE, 1965-1969), and 2) the 22,000+ hectare Gochager Lake Project that is host to a historic, NI43-101 non-compliant open pit resource consisting of 4.3M tons at 0.295% Ni and 0.081% Cu2

1 – The Saskatchewan Mineral Deposit Index (SMID#0950) Tremblay-Olson Ni-Cu Deposit or Showing

2 – The Saskatchewan Mineral Deposit Index (SMID#0880) reports drill indicated reserves at the historic Gochager Lake Deposit of 4,262,400 tons grading 0.295% Ni and 0.081% Cu mineable by open pit. Fathom cannot confirm the resource estimate, nor the parameters and methods used to prepare the reserve estimate. The estimate is not considered NI43-101 compliant and further work is required to verify this historical drill indicated reserve.

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