- North America is deeply dependent on foreign nickel, which is a position of weakness for meeting EV and carbon goals
- Canada has the potential to once again be a dominant player in nickel production thanks to companies like Fathom Nickel
- The company holds a dominant land position in the prolific Trans Hudson Corridor, controlling over 113,000 hectares of highly prospective property, inclusive of a past producing nickel mine
The rise and fall of Canada’s nickel production in recent years highlights a critical issue for North America – dependence on foreign sources of this essential metal. Despite a resurgence in 2023, Canada’s output (180,000 MT) still doesn’t meet overall demand. The nation ranked fifth globally in nickel production behind Indonesia, Philippines, New Caledonia, and Russia. This reliance on external suppliers, particularly for a resource like nickel that’s crucial for clean energy technologies like electric vehicle batteries, poses significant risks.
By bolstering domestic production and exploration, North America can ensure a stable and secure supply chain for the future, reducing dependence on foreign markets and potential disruptions. Canada’s Sudbury Basin, home to Vale’s massive nickel operation, and the metal-rich Trans Hudson Corridor – home to Fathom Nickel and a massive land package of its own – presents a prime opportunity for North America to strengthen its domestic nickel production and establish greater control over this vital resource.
The Trans Hudson Corridor is a treasure trove for miners. This sprawling geological region stretches from the famed Homestead Gold Mine in the U.S. well into Canada, brimming with known deposits of nickel, copper, gold, and platinum group metals. But the real allure lies in the vast potential for undiscovered riches waiting to be unearthed.
That’s where Fathom Nickel (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) is starting to shine, gaining investor attention for its commanding land position at the elbow of the Trans-Hudson Corridor where it turns east in Saskatchewan to head throughout the eastern part of the country. Fathom is an exploration company that is targeting magmatic nickel sulfide discoveries to support the rapidly growing global electric vehicle market.
Prime Location & Past Success
Fathom boasts over 113,000 hectares of prime exploration ground within a region consistently ranked among the top five for mineral exploration by the Fraser Institute.
One of Fathom’s key projects, the Albert Lake Project, covers a vast 90,000+ hectares and is no stranger to nickel production. Historical records show successful mining from an open pit operation between 1965-1969, yielding over 26,000 tons of nickel, copper, and platinum group elements with promising grades. This past success, coupled with the fact that most nickel discoveries were from large, underexplored outcrops, hints at significant untapped potential.
Beyond Albert Lake, Fathom owns the 22,000+ hectare Gochager Lake Project, strategically located near the border of prospective geological domains. Historical data (1967-1970) suggests the presence of a significant nickel deposit, with estimates exceeding 4.3 million tons at 0.295% Ni and 0.081% Cu. Historic drilling produced similar results, showing grades of 0.581% Ni and 0.113% Cu over a width of 290.4 meters.
This is a portfolio not typical of a company with a C$9 million market cap. In a world where anomalies are cherished, Fathom Nickel is one itself amongst microcaps.
Drilling conducted in 2018 yielded encouraging results too, confirming the presence of significant sulfide mineralization within the historic deposit. This mineralization ranged from semi-massive to massive, indicating potentially high concentrations of valuable metals.
Modern Exploration & Drilling Programs
Fathom isn’t relying solely on past results. They’ve utilized cutting-edge technology to survey and sample the land at Albert Lake, identifying high-priority targets based on both new and historical data. Following initial drilling in 2023, a new 4-week drill program launched in February. This initiative promises to deliver critical data for building a robust resource estimate. Six holes were drilled amounting to 1,386 meters.
In March, the initial drilling was completed on time at Albert Lake. Subsequently, the drill and crew were mobilized the Gochager Lake Project. Drilling commenced at the Gochager Lake Project on March 12 and is expected to continue through mid-April 2024. anticipates drilling 2000-2500 meters in 5-7 drillholes. Investors will now be watching for a steady stream of drill results to validate historic results and continue to build the database undergirding a new resource estimate in the future.
Expanding Portfolio & Future Exploration
Fathom recently secured $4.57 million through a private placement, providing the necessary funds to advance exploration at both Albert Lake and Gochager Lake. Investors can expect a wealth of new data emerging this spring and summer, potentially solidifying Fathom Nickel’s position as a major player in the nickel exploration space.
For more information, visit the company’s website at www.FathomNickel.com.
NOTE TO INVESTORS: The latest news and updates relating to FNICF are available in the company’s newsroom at https://ibn.fm/FNICF
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