Highlights:
- Strategic Acquisition: The Company will acquire licence #038152M (which consists of 12 claims), located immediately south of the RPM Zone. This strategic acquisition is necessary for future project infrastructure and development. The new licence also enables the investigation of the potential southward continuation of awaruite nickel mineralization at depth within the RPM Zone.
- Phase 1 Drilling Update: Phase 1 Drill core processing has resumed following successful relocation to long term drill core and processing facility.
- Assays & Metallurgical Testing: The initial Phase 1 drill holes have been submitted for assays, while others are currently being processed. Metallurgical testing will commence upon receipt of the assay results.
- Phase 2 Drilling Plans: Phase 2 drill permits were submitted on November 27, 2024, including plans for a direct vehicle access road into the RPM and Chrome Pond Zones.
- Mineralization Expansion Potential: The RPM Zone remains open for drilling in all directions, with mineralization appearing more substantial to the east and showing potential for further expansion along strike.
- No Private Placement Financing: The Company is not currently conducting or planning any private placement equity financings. First Atlantic has not engaged any third parties to solicit on its behalf. Any such inquiries are unauthorized and should be directed to the Company.
For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at +1 844 592 6337 or via email at rob@fanickel.com
The Claims will provide First Atlantic with a contiguous land package in the immediate vicinity of the RPM Zone. The RPM Zone extends south to the previous claim boundary and could potentially continue south into the newly acquired claims. This makes the acquisition a key asset for future project development and infrastructure, as it lies in close proximity to known mineralization boundaries. Further expansion drilling will focus on defining the extent of mineralization and testing for depth, as well as east, north and south extensions of the new discovery at the RPM target zone. This strategic acquisition enables comprehensive exploration and development planning as the Project advances. The Company remains dedicated to realizing the full potential of the Atlantic Nickel Project through robust exploration and aggressive drilling campaigns.
Phase 2 Drill Program:
Phase 2 drilling will focus on targeting deeper mineralization and extending the strike length and width of the RPM Zone. With permits submitted on November 27, 2024, the Company plans to explore targets along the entire 30 km ophiolite trend, seeking sulfur-free nickel-alloy, awaruite. The Phase 2 program aims to delineate and expand known mineralization zones, potentially connecting the RPM and Chrome Pond areas, which are believed to represent a significant target for future resource drilling. The RPM Zone remains open in all directions, and the Company anticipates providing updates on Phase 1 step-out drilling to the north, with further updates expected shortly.
As the Company awaits drill permits, it is currently planning the development of a drill access trail to the RPM Zone for winter drilling. This access trail is included in the same permit application submitted for Phase 2 drill permits. Efforts are also underway to relocate the camp to support upcoming drilling activities. The Company plans to utilize the newly established drill core processing and storage facility in Grand Falls-Windsor, Newfoundland, for this program. These logistical preparations will ensure the smooth and efficient execution of the Phase 2 drilling campaign. Exploration will continue to test the 30 km nickel trend, with additional holes being drilled as the Company expands its operations northward.
Continue at First Atlantic Nickel
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