First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Company”) is pleased to announce that it has received drilling permits, which complement our existing exploration permits, for its fully funded 2024 work and drilling program at the 100% owned Atlantic Nickel Project in central Newfoundland, Canada (the “Project” or the “Atlantic Nickel Project”). The Company has initiated the mobilization of heavy equipment to upgrade existing road infrastructure, which will enable a larger portion of the budget to be directed towards drilling high-priority zones and maximizing the overall drilling footage. The 2024 exploration program currently underway is set to identify and test the most promising awaruite nickel zones along the established 30 km nickel trend.
Highlights:
- Drill permits granted for 26 sites covering multiple awaruite nickel zones within a 30 km trend.
- 5,000 meter multi-zone drill program planned to begin this summer.
- Road upgrades will improve access, reduce project costs and maximize drilling on key target areas.
- World nickel expert and awaruite specialist, Dr. Ron Britten, to aid exploration and development.
- 21,850 hectare land position covers the entire 30 km trend of the Pipestone Ophiolite Complex with unique awaruite nickel.
- Awaruites’ (nickel-iron alloy) unique properties enable simpler, environmentally safe processing without smelting, requiring less energy and chemicals while producing high-grade nickel concentrates within North America.
“With drilling permits in place and the exploration capital secured, we can focus on our objective to prove the potential for a district scale awaruite nickel project”, said Adrian Smith, CEO of First Atlantic. “Awaruite is a unique, naturally occurring nickel-iron alloy that offers significant advantages over traditional nickel sources. Its sulfur-free composition allows for processing without smelting, reducing our reliance on foreign countries that control smelting operations. By utilizing simple magnetic separation and flotation technologies, we can produce a high-grade nickel concentrate right here in North America, using fewer chemicals and less energy than conventional methods. This approach not only makes awaruite processing more environmentally friendly but also positions us to supply critical minerals to North American EV and stainless steel sectors, strengthening our domestic supply chains. At First Atlantic, we’re excited about the potential of awaruite to revolutionize nickel production, offering a cleaner, more sustainable path forward for the industry.”
The 2024 exploration program will prioritize multiple zones within the 30 km nickel-bearing trend that exhibit the strongest awaruite nickel occurrences. The primary target areas encompass Atlantic Lake, Gulp Pond (including Big Gulp), Pipestone, and Chrome Pond (see Figure 1). Strategically located in central Newfoundland, the Atlantic Nickel Project benefits from road access and nearby hydroelectric power, presenting the potential for a significant large-scale nickel discovery within this district-scale project. Throughout the project area, awaruite, a highly magnetic nickel-iron alloy, has been consistently identified in rocks, tills and drill core samples.
Dr. Ron Britten, a world-renowned nickel expert, is advising the Company on exploration and drill targeting for the 2024 exploration program of the Atlantic Nickel Project. Dr. Britten discovered and advanced the Decar Project in British Columbia, which is North America’s first large-scale awaruite nickel project on the west coast, containing over 10 billion pounds of nickel[1]. The Decar Project attracted strategic partners such as Toyota, Outokumpu, Sumitomo Mining, and JOGMEC. Dr. Britten’s expertise will be invaluable in advancing the Atlantic Nickel Project.
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