First Atlantic Nickel Reports Dtr Metallurgical Results from Rpm Hole 2: Magnetic Concentrate of 1.32% Nickel & 1.95% Chromium over Entire 216 Meter Drill Hole
FIRST ATLANTIC NICKEL REPORTS DTR METALLURGICAL RESULTS FROM RPM HOLE 2:
MAGNETIC CONCENTRATE OF 1.32% NICKEL & 1.95% CHROMIUM
OVER ENTIRE 216 METER DRILL HOLE
Vancouver, British Columbia – (GlobeNewsWire – April 15, 2025) - First Atlantic Nickel Corp. (TSXV: FAN)
(OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce Davis Tube Recovery
(DTR) metallurgical test results from drill ho le AN-24-03, the second of four drill holes at the RPM Zone within
its 100%-owned Atlantic Nickel Project in central Newfoundland. The DTR testing yielded a magnetic concentrate
averaging 1.32% nickel and 1.95% chromium across the entire 216 -meter length o f the drill hole, with
concentrate grades up to 2.54% nickel and 4.24% chromium.
Notably, the final 21 meters of drill hole AN -24-03 returned increasing DTR nickel grades averaging 0.15%,
above the hole's overall average of 0.11%. Drilling was halted at 216 meters upon encountering a fault zone of
heavily faulted and broken rock. Phase 2 will deploy more powerful drilling equipment to penetrate the fault zone.
The fault zone occurs within serpentinized peridotites, which are the same awaruite-bearing host rock observed
in all other RPM drill holes. Increased water permeability in the fault zone likely enhanced the serpentinization
process leading to more awaruite formation and higher DTR grades These results suggest strong potential for
westward expansion of the mineralized area into the fault zone.
The Company previously announced assay results on March 27, 2025, reporting drill hole AN-24-03 intersected
0.25% nickel and 0.29% chromium over 216 meters, with grades increasing to 0.27% nickel in the final 21 meters.
The DTR test results confirm that awaruite nickel can be effectively concentrated through magnetic separation,
marking a significant initial step toward establishing a smelter -free metallurgical process. This approach could
enable production of a high-grade nickel concentrate directly at the mine site, serving as a potential nickel feed
into a North American critical minerals supply chain. By eliminating the need for smelting or roasting, magnetic
separation of awaruite nickel could reduce reliance on foreign smelters and help grow a resilient North American
Nickel Supply chain unburdened by a lack of smelting capacity.
HIGHLIGHTS
● High-Grade Magnetic Concentrate: An average concentrate grade of 1.32% nickel and 1.95%
chromium across 216 meters, analyzed through 72 continuous DTR samples. With grades reaching up
to 2.54% nickel and 4.24% chromium.
● Fault Zone Potential: The final 21 meters of RPM Hole 2 (AN-24-03) ended in a fault zone with elevated
DTR nickel grades (0.15% vs 0.11% average). Increased permeability in the zone likely enhanced
serpentinization and awaruite formation, indicating that the fault immediately west of RPM Zone may
represent a new high-grade drill target.
● Mass Pull: An average mass pull of 9.12% over 216 meters, effectively reducing the total mass by
90.88% through magnetic separation.
● DTR Nickel: An average DTR nickel grade of 0.11% over 216 meters, increasing to 0.15% in the final
21 meters of the hole.
● Chromium and Cobalt: The magnetic concentrate contained 1.95% chromium and 0.06% cobalt.
Metallurgical testing will further investigate the potential for recovery and upgrading of these secondary
metals.
● Phase 2 Drilling: The new direct access road to the RPM Zone has been completed, and drill equipment
is now arriving on site in preparation for the start of Phase 2 drilling.
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 [email protected]
DTR Test Video: The Company has released a corporate video showcasing the Davis Tube Recovery (DTR)
Metallurgical testing process, which is viewable at: https://www.youtube.com/watch?v=q3zsgDtLWns
RPM ZONE: DTR RESULTS SUMMARY FROM DRILL HOLE AN-24-03
Table 1: DTR Metallurgical Test Results Summary from RPM Drill Hole 2 (AN-24-03)
Parameter Average Maximum Drill Length
Nickel - Magnetic Concentrate
Grade (%)
1.32% 2.54% 216m
Chromium - Magnetic Concentrate
Grade (%)
1.95% 4.24% 216m
Mass Pull (% of starting weight) 9.12% 14.47% 216m
Total Nickel Recovery (%) 44.44% 58.73% 216m
DTR Nickel Grade (%) 0.11% 0.15% 216m
RPM ZONE PHASE 1 DRILLING
The RPM Zone, located 10 km south of the Super Gulp Zone and 26 km south of Atlantic Lake, lies within the
Company's 30-kilometer awaruite nickel trend and has demonstrated significant metallurgical potential through
recent DTR testing. Drill hole AN -24-03 intersected visible, coarse- grained disseminated awaruite nickel, with
grain sizes up to 509 microns, over 216 meters. Magnetic concentrate from this interval averaged 1.32% nickel
and 1.95% chromium. Notably, the DTR nickel grade increased to 0.15% over the final 21 meters, compared to
the hole's overall average of 0.11%. Drilling was halted at 216 meters upon encountering heavily faulted and
broken rock, which exceeded the capabilities of phase 1 drill equipment. The mineralization is hosted in
serpentinized peridotites, consistent with all other drill holes at the RPM Zone. Increased water permeability in
the fault zone may have enhanced the serpentinization process, forming more awaruite resulting in higher DTR
grades. These results highlight the effectiveness of magnetic separation, achieving an average mass pull of
9.12%, thereby reducing the initial rock mass by 90.88%.
Previously reported assay results for AN-24-03 returned an average of 0.25% nickel and 0.29% chromium over
216 meters, with grades increasing to 0.27% nickel in the final 21 meters. The newly released DTR results
confirm that a substantial portion of this nickel can be effectively recovered through magnetic separation, yielding
a high-grade concentrate. The first four drill holes at the RPM Zone have delineated a mineralized area of 500
meters by 400 meters. AN-24-03 has confirmed the lateral extent of this zone while demonstrating increasing
grades into the fault zone. The hole terminated in mineralization due to the limitations of Phase 1 drill equipment,
suggesting potential for westward expansion of the mineralized area. Phase 2 drilling will deploy more powerful
equipment, utilizing HQ/NQ core sizes specifically designed to drill into and through the fault zone. This next
phase aims to extend the known mineralization further westward and at depth, potentially expanding the
mineralized area of the RPM Zone.
Table 2: DTR Metallurgical Test Results Summary from RPM Drill Hole 2 (AN-24-03)
Hole ID From
(m)
To (m) Interval
(m)
Mass
Pull (%)
Magnetic
Nickel
Concentrate
Grade (Ni %)
Nickel
Head
Grade
(%)
Nickel
Magnetic
Recovery
Magnetically
Recoverable
Nickel ( DTR
%)
Mag
Con
Cr (%)
Chromium
Head
Grade (%)
Magnetically
Recoverable
Chromium
(% DTR
Grade)
Mag
Con
Co (%)
AN-24-03 18 234 216 9.12% 1.32 0.25 44.44% 0.11 1.95 0.29 0.18 0.06
Drill Hole Interval Breakdown
including 18 81 63 10.04% 1.05 0.25 40.24% 0.10 2.15 0.31 0.20 0.05
including 81 180 99 9.45% 1.22 0.25 44.05% 0.11 1.97 0.30 0.19 0.05
including 180 213 33 7.31% 1.73 0.26 46.92% 0.12 1.71 0.27 0.13 0.07
including 213 234 21 7.63% 1.93 0.27 54.95% 0.15 1.57 0.26 0.12 0.07
including
"up to" 14.47% 2.54 0.28 58.73% 0.15 4.24 0.75 0.47 0.08
Table 3: RPM Drill Hole 2 (AN-24-03) Drill Hole Collar Location
Hole ID Easting (UTM NAD83) Northing (UTM NAD83) Azm (degrees) Dip (degrees) Total depth (m)
AN-24-03 567118 5357574 270 -60 234m
QUOTE FROM ADRIAN SMITH, CEO
“Davis Tube Recovery (DTR) tests confirm that magnetic separation effectively concentrates awaruite nickel at
our Atlantic Nickel Project, advancing our goal of producing a 60% nickel concentrate on-site. As a natural nickel-
iron alloy, awaruite eliminates the need for costly secondary processing - smelting, roasting, and high-pressure
acid leaching - required for nickel sulfide and laterite ores. This add resses critical vulnerabilities in the North
American supply chain, including limited smelting capacity and dependence on smelters outside North America,
primarily owned by foreign entities of concern. The unique properties of awaruite enable efficient processing of
our near-surface mineralization through simple crushing, grinding, and magnetic separation, yielding a magnetic
concentrate comparable in grade to a high-grade nickel sulfide mine while reducing volume by 90% and enabling
fully domestic production capabilities.”
Figure 1: Cross-sectional view of the RPM Zone’s Discovery Drill Holes 1 and 2 (AN -24-02 and AN -24-03),
illustrating the grade distribution of magnetic concentrate and DTR recovery. RPM Drill Hole 1 averages 1.37%
nickel and 1.73% chromium, while RPM Drill Hole 2 averages 1.32% nickel and 1.95% chromium in continuous
magnetic concentrate across their entire intervals. Results for Drill Holes AN-24-04 and AN-24-05 are pending.
Figure 2: Drill hole location map at Atlantic Nickel Project showing the 30 km awaruite sulfur -free nickel-alloy
trend over TMI magnetics.
MAGNETIC SEPARATION - PROCESSING ADVANTAGES
The DTR test results confirm that the awaruite mineralization at the Atlantic Nickel Project is well suited for
magnetic separation, a critical first step in developing an efficient metallurgical process flow -sheet. Awaruite, a
naturally occurring nickel-iron alloy, is approximately ten times more magnetic than magnetite1 and contains no
sulfur, making it highly amenable for magnetic separation. This unique characteristic enables a streamlined and
environmentally responsible processing approach that:
1. Eliminates the need for secondary processing such as smelting, roasting, or high pressure acid leaching,
typically required for nickel sulfides or laterites;
2. Reduces the total volume of material entering the flotation circuit, lowering operational costs;
3. Reduces energy consumption and environmental impact compared to conventional nickel ore
processing;
4. Aligns with North American critical mineral supply chain requirements, including the U.S. Inflation
Reduction Act's restrictions on minerals processed by foreign entities of concern.
The Company is pursuing a staged metallurgical approach, beginning with magnetic separation as the initial
concentration step. This may be followed by flotation to further upgrade and purify the awaruite nickel
concentrate, with the potential to produce a final high- grade nickel concentrate exceeding 60% nickel, as
demonstrated by the Baptiste awaruite nickel project in British Columbia, Canada2.
NEXT STEPS IN METALLURGICAL PROGRAM
Building on the encouraging preliminary DTR results, the Company is planning a comprehensive metallurgical
process development program that will include:
1. Processing larger sample sizes through a pilot -scale magnetic separator to validate scalability and
consistency of recovery;
2. Investigating additional processing methods such as flotation and gravity separation on the magnetic
concentrate;
3. Optimizing recovery parameters to maximize nickel extraction efficiency and product grade;
4. Evaluating the recovery potential of secondary metals, including chromium and cobalt;
5. Producing metallurgical data to support future flowsheet design, process modeling and economic
evaluations.
DAVIS TUBE RECOVERY (DTR) METALLURGICAL TEST
Davis Tube Recovery (DTR) is a laboratory method that uses magnets to separate magnetic and non-magnetic
material from a sample, similar to commercial magnetic separators used in mining operations. The percentage
1 https://fpxnickel.com/projects-overview/what-is-awaruite/
2 https://fpxnickel.com/projects-overview/baptiste-nickel-project/
of magnetic mass recovered (mass pull) is used together with the assayed grade of the magnetic fraction to
calculate the magnetically recoverable nickel.
DTR nickel percentage is calculated by: Mass Pull (%) × Magnetic Nickel Concentrate Grade (%). This
represents the portion of nickel that can be recovered through magnetic separation and is not equivalent to a
standard assay result. DTR results can vary based on equipment settings and technological advancements.
The Company has released a new educational video that breaks down the Davis Tube Recovery (DTR) test into
five simple steps. This video is a valuable resource for anyone interested in understanding mineral exploration.
Please visit https://www.youtube.com/watch?v=q3zsgDtLWns to view the video.
Figure 3: Davis Tube Recovery (DTR) Metallurgical Test 5 Step Process
Figure 4: Core sample from RPM Drill Hole 2 (AN- 24-03) at a depth of 41 meters, showing visible awaruite
grains. The lower images display magnified views of these grains under a microscope, with sizes reaching up to
428 microns.