Brighter days ahead for FNI shareholders The discovery at Gochager last spring hitting 18 meters of 2.4% Ni was very encouraging and the drill and geophysical program in September is indicating much stronger conductivity at depth beyond most drill holes. It is now thought by the experts Fathom have only been drilling the top of the system and they need to drill deeper at Gochager.
This is great news in my opinion. There is a lot of sulphides kicking around on that property and because it contains several steeply oriented high grade chutes of nickel sulphides the thinking is these high grade chutes are extending out from the mothership deeper down. Geologically this makes a lot of sense. Dr. Peter Lightfoot has actually made comparisons of the minerlized textures of the sulphides at Gochager to that of the Reid Brook deposits at Voisey's Bay. Also the nickel tenor has been calculated at 3.5% at Gochager and that has been proven in the latest drill program when they hit the narrow intersection of 3.25% Ni. I'm very encouraged by this news and the fact that the BHEM has indicated strong conductors off hole and below this hole. They will definitely follow up on this hole.
So Gochager still has several high priority targets but it is the 450 meter by 150 meter target at Albert Lake that I like the most. See below for details. Anytime you get a target like that so close to an historical high grade mine it is significant. This target lies at roughly a 300 meter depth and it was offset by a fault from the old mine according to Ian Fraser and is about 1 km south of the old Rottenstone mine that was in production back in the late 60's. So back at that time this hidden target went undetected and was never drilled. This could possibly be the "Mother Rottenstone" that was never discovered. A deposit of high grade nickel sulphides and PGE's of that size would be worth several billion dollars.
Below was taken from Dec 4th news release.
The proceeds from this financing will allow Fathom to recommence field exploration programs at both the Gochager Lake Project and the Albert Lake Project in Q1-2024. The focus of the Gochager Lake Project exploration program will be following-up on the positive results from our recent drill program - most notably the growing inventory of conductive targets at depth as well as the off-hole conductor associated with the zone of massive sulphides encountered in drillhole GL23008," stated Doug Porter, President & CFO. "We are also very eager to drill-test the 450m x 150m conductor identified during our summer-2023 geophysical program at the Albert Lake Property. This conductor occurs coincident with both a pronounced gravity anomaly as well as highly anomalous metals-in-soil samples in the area of the Tremblay -Olson/Nic5 area at the project. Q1-2024 will be an exciting time for FNI shareholders as we continue to advance our two highly prospective projects," he added.
Below was taken from the August 14th news release
TDEM highlights include:
- A very strong TDEM conductor occurs approximately 1,000 meters south-southwest of the historic Rottenstone Mine/deposit (see Figure 1).
- Modelling of this conductor suggests a very conductive, flat lying body with an area that is approximately 450m x 150m and is situated approximately 300 meters below surface.
- This conductor occurs along the eastern margin of the Tremblay-Olson Claims area multi-element-in-soil anomaly.
- This conductor occurs at a critical contact between metasedimentary supracrustal rocks and granitoid intrusive rocks.
- This conductor Is directly associated with a very strong, deep, gravity anomaly indicative of subsurface higher density rocks.