Calgary, Alberta--(Newsfile Corp. - September 13, 2021) - Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (the "Company" or "Fathom") is pleased to announce that it has commenced drilling activity at its wholly owned Albert Lake Property, host to the historic Rottenstone mine that produced some of the highest grades of Nickel and Platinum Group metals.
- The Company has commenced a two-phase fall / winter 6,000-meter drill program. Phase-1 will end mid to late October and Phase-2 will commence late January 2022.
- The drilling activities are a follow-up to our winter 2021 drill program, BHEM targets identified in historic drilling, the property-wide gradient MAG survey, a recent gravity survey, localized TDEM surveys, the summer mapping and soil geochemistry program and areas where significant ultramafic intersections were drilled by previous operators of the property.
- Note that in a news release issued on August 30, 2021 the Company announced the commencement of an AirTEM survey at Albert Lake. Due to a technical issue this program has been postponed.
- The Company has a cash position of approximately $7.2 million and is fully financed to execute on both its fall 2021 and winter 2022 exploration programs.
Brad Van Den Bussche, Fathom's President & CEO also provided a brief statement on the timing of Fathom's fall 2021 exploration program, "We are very pleased with the resumption of drilling activity at the Albert Lake Property. Over the summer months the team completed Phase 1 & 2 of the surface exploration program to better refine our geological model and further define targets for the current drill program. We are excited about the growth forward as we identify additional mineralized areas".
Fathom has entered into a consulting agreement with ARU Global Inc. ("ARU Global") for the provision of marketing services. ARU Global is owned by Brian Uppal, and is located at TOC #3717 Calle Punto Colon, Punta Pacifica, Panama. ARU Global can be reached by phone 507-6532-8900 or email email@example.com.
Under the terms of the agreement, ARU Global will provide marketing services, particularly in the areas of digital marketing utilizing platforms such as but not limited to Yahoo Finance and YouTube. In addition, ARU Global will identify and engage subcontractors to provide such services, to assist the Company with communicating with its stakeholders, brokers, analysts and the investment community. The term of the agreement is for three months beginning September 13, 2021 at a total cost to the Company of US$120,000 which will be paid in cash. ARU Global and its principal do not own any interest, directly or indirectly, in Fathom Nickel or its securities and do not have any right or intent to acquire such an interest. As part of its services, ARU Global intends to arrange for the creation, publication and distribution of marketing materials discussing the Company, its business and its positioning in the industry. Neither the Company nor its officers and directors will be involved, directly or indirectly, in the creation or distribution of such materials, but will review and approve them before publication.
Qualified Person and Data Verification
Ian Fraser, P.Geo., VP Exploration and a Director of the Company and the "qualified person" as such term is defined by National Instrument 43-101, has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of the Company.
About Fathom Nickel Inc.
Fathom Nickel is a resource exploration and development company that is targeting high-grade nickel sulphide discoveries for use in the rapidly growing global electric vehicle market.
The Company is accelerating exploration on its flagship Albert Lake Project, host to the historic Rottenstone mine, which is recognized as one of the highest‐grade (Nickel, Copper, Platinum group metals) deposits of its type ever mined in Canada. The Albert Lake Project consists of over 90,000 ha of mineral claims located in the Trans-Hudson Corridor of Saskatchewan, which is home to numerous world-class mining camps.
ON BEHALF OF THE BOARD
"Brad Van Den Bussche"
President and CEO, Director
For further information, please contact:
Brad Van Den Bussche, President and CEO
Manish Grigo, Director of Corporate Development
This news release may contain "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "seek", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the enhancement of the Company's geologic model and extending the areas of known mineralization and the Company's work towards defining a resource base. Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to, the results of exploration activities; the ability of the Company to complete further exploration activities; timing and availability of external financing on acceptable terms. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96293