Fathom Announces Extension of Historic Deposit and New Discovery at Albert Lake Property
Fathom Nickel Inc.
FATHOM NICKEL CONFIRMS EXTENSION OF HISTORIC ROTTENSTONE DEPOSIT
AND
INTERSECTS NEW DISCOVERY HOLE
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.
• Completes 9-hole, 1,232 metre Winter Drill Program at Albert Lake Nickel, Copper, Cobalt, PGE
Sulphide Project in Saskatchewan.
• Drilling confirms Rottenstone Extension including 18.1 g/t Pt over 1.01m (7.22% NiEq) a minimum
40m southwest extension to historic high-grade Ni-Cu-Co + PGE Rottenstone deposit.
• Drilling intersected significant ultramafic mineralization at the Island Showing Area, 550 metres
northwest of historic Rottenstone deposit (drilled from lake ice).
• Borehole EM survey in discovery drillhole at the Island Showing Area , together with subsequent
modelling indicates a plunging body, increasing in conductivity south of the drillhole, potentially
indicative of increased mineralization in a southerly direction.
• Completes heliborne high-resolution gradient magnetic survey consisting of over 9,000 line-km.
Calgary, Alberta - June 7, 2021 – Fathom Nickel Inc. (the "Company" or " Fathom") (CSE:FNI) (FSE:
6Q5), announces completion of 9- hole, 1,232 metre winter drill program at Albert Lake Nickel, Copper,
Cobalt, PGE Sulphide Project in Saskatchewan (the “Q1-2021 Program”). The Q1-2021 Program resulted
in (1) confirming an extension to the historic Rottenstone deposit (the “ Rottenstone Extension ”); (2)
discovery of new ultramafic mineralization 550m northwest of the historic, high- grade Nickel, Copper,
Cobalt + PGE Rottenstone Mine (the “Island Showing Area Discovery”); and (3) c ompletion of a high-
resolution gradient magnetic survey consisting of over 9,000 line-km (the “Airborne Survey”). In addition,
Fathom will be commencing its summer field program on June 15, 2021 with a drill program planned and
expected to commence the last week of August (the “Summer/Fall 2021 Exploration Program”).
The brief Q1- 2021 Drill Program was designed around two primary objectives : (1) to confirm the south-
southwest extension of the historic Rottenstone deposit (the possibility of a southwest extension was initially
identified during a drilling campaign completed in 2016) ; and, (2) to drill and test the high priority Island
Showing target area.
“We are very pleased that the Q1- 2021 drill program accomplished both of our primary objectives”, said
Brad Van Den Bussche, Fathom’s President & CEO. “We have confirmed, through our geotechnical data
compilation initiatives and drilling south of the Rottenstone Mine that not only is the Rottenstone deposit
larger than previously recognized, but that we have developed a framework to identify additional
Rottenstone-like deposits. This framework will be instrumental in helping us pursue new discoveries such
as the mineralized drillhole AL21021, located 550m from the historic Rottenstone Mine. This is a fantastic
discovery - it is the first ever intersection of significant ultramafic, nickel sulphide mineralization outside of
the historic Rottenstone deposit. We are very encouraged by both the thickness of the intersection and the
positive off-hole BHEM conductor to the south.”
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Q1-2021 Drill Program Summary Results
Rottenstone Extension:
o Drillhole AL21017 intersected 18.08m of 0.68% Ni, 0.51% Cu, 0.02% Co, 1.39 g/t Pd- Pt
(Table 2 / Figure 1)
Including 2.53m of 1.79% Ni, 2.09% Cu, 0.06% Co and 2.99 g/t Pd-Pt
Including 1.48m of 2.29% Ni, 1.68% Cu, 0.07% Co, 3.60 g/t Pd-Pt
o AL21024 intersected 7.47m of 1.06% Ni, 0.88% Cu, 0.03% Co and 4.36 g/t PGE
Including 4.00m of 1.46% Ni, 1.39% Cu, 0.05% Co and 7.32 g/t PGE
Including 1.01m of 1.71% Ni, 1.21% Cu, 0.05% Co, 1.94 g/t Pd, 18.10 g/t Pt (20.76
g/t PGE)
Island Showing Area Discovery:
o AL21021 collared on lake ice 550m north-northwest of Rottenstone Mine intersected 9.23m
of Rottenstone-like, ultramafic mineralization at a downhole depth of 136.32m : 0.20% Ni,
0.11% Cu, 0.01% Co and 0.14 g/t Pd-Pt.
o Borehole EM (BHEM) survey data at this new discovery , together with subsequent
modelling indicates a plunging body, increasing in conductivity south of the drillhole
potentially indicative of increased mineralization in a southerly direction.
o The Company interprets this discovery drillhole to be indicative of and similar to the lower
grade mineralization that envelopes the Rottenstone deposit. The intercept in AL21021 is
the first ever drilled occurrence of anomalous ultramafic hosted, mineralization that was
not in the immediate vicinity of the historic Rottenstone Mine.
Fathom drill programs in both 2016 and Q1- 2021 (Figure 1) oriented south-southwest of the historic
Rottenstone Mine1 now confirms a previously unrecognized extension of 40m in a south-southwest direction
that remains open. In addition, drillhole AL21021 intersected 9.23m of mineralized ultramafic host rock
550m north- northwest of the Rottenstone deposi t indicating the potential for another Rottenstone- like
deposit.
Table 1 – Fathom Drillhole Locations 2016 and Q1-2021, Albert Lake Ni, Cu, PGE Project,
Saskatchewan, Canada
Drillhole Coordinates
(NAD83 Zone13)
Elevation
(ASL m) Azimuth Dip TD
(m)
FMRS16-001 510761E / 6244349N 454.28 129° -75° 42.37
FMRS16-002 510761E / 6244349N 454.28 129° -65° 23.47
FMRS16-003 510775E / 6244370N 454.03 125° -75° 39.01
FMRS16-004 510773E / 6244373N 453.85 318° -75° 60.35
FMRS16-005 510784E / 6244408N 457.32 302° -70° 70.71
FMRS16-006 510757E / 6244396N 453.21 0° -90° 45.11
FMRS16-007 510740E / 6244361N 453.80 132° -70° 42.06
FMRS16-008 510773E / 6244457N 460.55 0° -90° 69.49
FMRS16-009 510755E / 6244347N 453.98 133° -65° 23.77
FMRS16-010 510755E / 6244347N 453.98 119° -65° 17.68
FMRS16-011 510773E / 6244329N 454.26 273° -80° 32.92
AL21017 510764.85E / 6244337.7N 452.12 900 -650 106.0
AL21018 510764.24E / 6244320.64N 451.53 900 -650 50.0
AL21019 510764.07E / 6244305.55N 451.42 900 -650 50.0
AL21020 510760.73E / 6244321.87N 451.54 2900 -500 119.0
AL21021 510473.27E / 6244869.72N 450.9 1250 -700 248.0
AL21022 510500.2E / 6244902.4N 451.28 1250 -700 200.0
AL21023 510649.89E / 6244330.68N 450.85 900 -700 152.0
AL21024 510767.78E / 6244547.55N 451.88 900 -850 50.0
AL21025 510419.53E / 6244547.55 458.59 1080 -800 257.0
Total (20) 1,546.94
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Table 2 – Select Drillhole Results - 2016 and Q1-2021, Albert Lake Ni, Cu, PGE Project,
Saskatchewan, Canada
HoleID From
(m)
To
(m)
Width
(m)*
Ni% Cu% Co% Pd
g/t
Pt
g/t
Pd+Pt
g/t
PGE
g/t**
NiEq***
FMRS16-001 6.76 11.16 4.40 1.02 0.06 0.03 0.96 0.42 1.38 1.69
Including 7.50 9.50 2.00 1.47 0.98 0.05 1.48 0.34 1.82 2.93
FMRS16-002 6.08 11.00 4.92 1.08 0.43 0.04 1.13 0.37 1.50 2.05
Including 9.00 10.77 1.77 1.93 0.78 0.06 1.98 0.35 2.33 3.55
FMRS16-002 14.73 19.46 4.73 1.12 0.48 0.04 1.23 0.45 1.68 2.18
Including 14.73 16.00 1.27 2.56 0.43 0.07 2.82 0.41 3.23 4.44
FMRS16-003 8.63 13.70 5.07 0.20 0.09 0.01 - - - 0.27
FMRS16-006 11.65 13.00 1.35 0.46 0.25 0.01 - - - 0.62
Including 11.65 12.30 0.65 0.94 0.43 0.02 1.46 0.84 2.30 2.12
Including 11.65 11.80 0.15 3.63 1.45 0.09 6.12 3.61 9.73 8.41
FMRS16-009 7.26 21.65 14.39 0.78 0.27 0.03 0.85 0.65 1.50 1.56
Including 11.13 20.4 9.27 0.95 0.31 0.03 1.02 0.80 1.82 1.86
Including 11.13 16.19 5.06 1.14 0.33 0.04 1.24 0.88 2.12 2.21
Including 15.21 20.4 5.19 0.97 0.30 0.03 1.08 0.76 1.84 1.90
FMRS16-010 7.26 17.68 10.42 0.68 0.23 0.02 0.76 0.56 1.32 1.35
Including 8.76 16.55 7.79 0.78 0.28 0.03 0.91 0.65 1.56 1.59
FMRS16-011 7.90 10.64 2.74 0.37 0.37 0.01 0.41 0.30 0.71 0.86
AL21017 8.65 26.73 18.08 0.68 0.51 0.02 0.87 0.51 1.39 1.54
Including 9.90 12.43 2.53 1.79 2.10 0.06 2.29 0.69 2.99 4.36
Including 10.95 12.43 1.48 2.29 1.68 0.07 2.81 0.80 3.60 4.94
AL21018**** 1.00 4.00 3.00 0.40 0.19 0.001 1.12 0.87 1.98 1.24
AL21019**** 1.00 9.00 8.00 0.51 0.26 0.01 1.35 0.93 2.28 1.54
AL21020**** 1.00 8.00 7.00 0.57 0.30 0.01 1.39 1.04 2.44 1.66
AL21020 17.00 21.93 4.93 0.27 0.08 0.01 0.26 0.18 0.44 0.50
AL21021 136.32 145.55 9.23 0.19 0.11 0.01 0.12 0.02 0.14 0.34
Including 136.32 139.50 3.18 0.33 0.19 0.01 0.22 0.03 0.25 0.57
AL21024 4.50 11.97 7.47 1.06 0.88 0.03 1.23 2.85 4.36 2.82
Including 6.77 10.77 4.00 1.46 1.39 0.05 1.77 5.12 7.32 4.28
Including 9.76 10.77 1.01 1.71 1.21 0.05 1.94 18.10 20.76 7.22
*Width refers to drillhole width and not true widths
**PGE refers to Pd+Pt plus rhodium, osmium, ruthenium and iridium
*** Metal Prices of Ni $8.10/lb, Cu $4.46/lb, Co $20.03/lb, Pt $1,155/oz, Pd $2,732/oz & Au $1,870oz (Formula for
NiEq calculation NiEq% = Ni% +Cu% x $4.46/$8.10 + Co% x $20.03/$8.10 + Pt [g/t]/31.103 x $1,155/$8.10/22.04 +
Pd [g/t]/31.103 x $2,732/$8.10/22.04 + Au [g/t]/31.103 x $1,870/$8.10/22.04)
****Sludge samples of material indicative of regolith-like, extremely weathered ultramafic material immediately below
drill casing
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Figure -1 Fathom 2016 – 2021 Drillhole Plan Map
Ian Fraser Fathom’s VP Exploration commented, “The Q1- 2021 drilling has confirmed that there is more
Rottenstone-type mineralization extending 40m south- southwest of the historic Rottenstone Mine and
remaining open. However, i t is important to note that expanding the Rottenstone deposit is not the
Company’s exploration focus. The drilled extension has allowed us to further enhance our understanding
of the geologic setting and specifically that these types of deposits are zoned; meaning that they grade
outwards from a higher-grade net-textured core. The knowledge gained will be instrumental as we seek to
recognize when we are proximal to the higher -grade cores of these types of deposits. Drillhole FMRS16-
003 which was collared less that 10m from the historic Rottenstone Mine has a very similar grade and
mineral composition to drillhole AL21021. We are confident our discovery in AL21021 is an indication of
higher-grade mineralization proximal to this drillhole. Recognizing this framework and geologic setting will
be critical in assisting with the identification of additional Rottenstone-like discoveries”.
Airborne Survey and Summer/Fall Exploration Program
In addition to the Q1- 2021 Drill Program, in April the Company also completed a high- resolution gradient
magnetic survey consisting of over 9,000 line- km over substantially the entire 90,000ha Albert Lake
Property. The survey data is currently being interpreted and will be a valuable tool for planning the
Summer/Fall-2021 Exploration Program. The Summer/Fall-2021 Exploration Program will commence on
June 15, 2021. It is expected to include an airborne EM survey over key targets including the Island Showing
area discovery, as well as extens ive mapping, sampling, prospecting and B -horizon soil geochemistry. In
addition, multiple historic drillholes will be probed for the first time and re- probed with BHEM. A diamond
drill program of between 4,000 and 5,000 metres is planned and expected to commence in the last week
of August 2021 and continue through the start of winter freeze- up at the end of October 2021. The
Company’s drill contractor has agreed to leave the drill rig onsite through to the end of April 2022, thus
eliminating both the cost and possible delays that can result from a second mob/de- mob process.
QA/QC
The 2016 drilling and Q1 -2021 Drill Program were designed, implemented and supervised by the
Company’s Vice President, Exploration, Ian Fraser, P. Geo.
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For drillholes FMRS 16-001 – FMRS16-008, FMRS16-011 drill core samples were split by rock saw with
one half retained in the core box and remains on the Albert Lake property. The other half was placed in
plastic samples bags with pre-numbered sample tags. All samples were transported to TSL laboratories in
Saskatoon, SK by company personnel for assaying. TSL is a Standard Council of Canada Accredited
Laboratory (538) and independent of Fathom. At TSL a multi-acid digestion followed by multi-element (41)
ICP-MS analyses type of assay was utilized. Over limit Ni, Cu was assayed by Ore Grade – AA finish and
select samples assayed for Pd, Pt, by 30g Fire Assay with ICP Finish. Fathom inserted certified blanks and
standards at intervals consistent with industry standards into the sample streams of all samples collected
for assay.
Drillhole FMRS16-009, FMRS16-010 drilled in 2016 for the purpose of a possible metallurgical study were
assayed in 2021 at ALS. For drillholes drilled Q1 2021, drill core samples were split by rock saw wit h one
half retained in the core box and remains on the Albert Lake property. The other half was placed in plastic
samples bags with pre- numbered sample tags. All samples were transported to ALS receiving facility in
Saskatoon and assayed at ALS Vancouver. ALS is an accredited laboratory ISO/IEC 17025; 2017 and
independent of Fathom. All samples were assayed by a four-acid digestion (ME-ICP61), 33 elements, ICP-
AES finish, overlimit Ni, Cu by ME -OG62, Pd, Pt and Au by Fire Assay (30g) PGM- ICP27 with ICP -AES
finish. Full suite PGE analyses was performed at ALS facility Johannesburg, South Africa where palladium,
platinum, rhodium, osmium, iridium and ruthenium was assayed by Nickel Sulphide Fire Assay Fusion
followed by ICP-MS finish (PGM-MS25NS).
Qualified Person and Data Verification
Ian Fraser, PGeo., 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 development and exploration company that is targeting high- grade nickel
sulfide 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.
1 The Saskatchewan Mineral Deposit Index #0958 reports that 26,058t grading 3.23% Ni, 1.63% Cu, 9.63 g/ t Pd-Pt+Au was
recovered from open pit mining 1965- 1969. The reliability of this historical data cannot be confirmed by the Company. The
resource extraction is not considered NI 43-101 compliant by the definition of a “mineral resource”. However, as evidenced by
the open pit mine existing on the property, mining has taken place.
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
or
Manish Grigo, Director of Corporate Development
+1-416-569-3292
Email: [email protected]
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Forward Looking Statements :
This news release contains "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 c omplete 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.