Fathom Nickel Announces Maiden Mineral Resource Estimate, Gochager Lake Ni-Cu-Co Deposit, Saskatchewan
Highlights:
- Maiden Mineral Resource Estimate (“MRE”) for the Gochager Lake Deposit, comprising pit-constrained (in-pit) and out-of-pit Indicated and Inferred Mineral Resources, with an effective date of 9 June 2026.
- Total Indicated Mineral Resources of 858,701 tonnes at 0.41% Ni, 0.12% Cu and 0.03% Co (0.57% NiEq1), containing 7.7 million pounds of nickel, 2.2 million pounds of copper and 0.6 million pounds of cobalt.
- Total Inferred Mineral Resources of 3,103,916 tonnes at 0.32% Ni, 0.09% Cu and 0.03% Co (0.45% NiEq1), containing 22.1 million pounds of nickel, 6.3 million pounds of copper and 1.8 million pounds of cobalt.
- Within the Indicated Mineral Resources, a higher-grade portion of 192,144 tonnes grades 0.78% Ni, 0.21% Cu and 0.06% Co (1.07% NiEq1) above a 0.75% NiEq¹ cut-off, containing 3.3 million pounds of nickel, 0.9 million pounds of copper and 0.3 million pounds of cobalt.
- Within the Inferred Mineral Resources, a higher-grade portion of 234,082 tonnes grades 0.71% Ni, 0.18% Cu and 0.06% Co (0.97% NiEq1) above a 0.75% NiEq¹ cut-off, containing 3.7 million pounds of nickel, 0.9 million pounds of copper and 0.3 million pounds of cobalt.
- The MRE was estimated from a database of 17 recent diamond drill holes totalling 5,990.8 metres and completed in 2018, 2023 and 2024. Of the 17, 14 drill holes intersect and inform the block model, amounting to 1,536 metres of drill core.
- The mineralized body is approximately 300 metres along strike, about 40 to 75 metres in thickness, and extends to approximately 450 metres below surface.
- The Deposit remains open along strike and at depth, and coincident soil geochemical and geophysical anomalies extend beyond the drilled area, defining targets for potential resource expansion.
Ian Fraser, CEO and VP Exploration stated, “Fathom Nickel is pleased to announce its maiden MRE for the Gochager Lake Ni-Cu-Co Deposit, representing an important milestone in demonstrating the scale, quality and growth potential of this emerging nickel-copper-cobalt system. The MRE provides a strong foundation for advancing the Project and supports our view that Gochager Lake is part of a much larger, dynamic magmatic system within a prospective mineralized corridor that has been traced for more than eight kilometres. Importantly, the current MRE captures only a small portion of this broader corridor, leaving significant opportunity for resource growth through continued exploration. Within the resource area, drilling has defined multiple high-grade (≥1% Ni), semi-massive to massive sulphide breccia zones occurring as steeply oriented chutes within a larger disseminated sulphide mineralized domain. Recent drill core intercepts both west-southwest and east-northeast of the MRE continue to highlight the potential to expand the resource along strike, while both the disseminated mineralized domain and higher-grade chutes remain open for growth in all directions. We believe the sulphide breccias and the extent of disseminated mineralization within and beyond the current MRE point to a significantly larger magmatic nickel-copper-cobalt system, with the potential to host additional concentrations of higher-grade sulphide mineralization. We are excited to continue advancing exploration along this emerging trend and further define what we believe is an important Nickel District in Saskatchewan.”
Calgary, Alberta –September 10, 2026 – Fathom Nickel Inc. (CSE: FNI) (FSE: 6Q5) (OTCQB: FNICF) (“Fathom”, or the “Company”) is pleased to announce the maiden Mineral Resource Estimate (“MRE”) for the Gochager Lake Ni-Cu-Co Deposit (the “Deposit”), part of an 8-kilometre-long nickel-copper-cobalt trend that the Company has identified at the 100%-owned Gochager Lake Project (the “Project”), northern Saskatchewan.
The Mineral Resource Estimate
The MRE for the Gochager Lake Deposit considers three payable elements: nickel, copper and cobalt. The MRE (Table 1, Figures 1-3) was prepared by Caracle Creek International Consulting Inc. (“Caracle Creek”) of Sudbury, Ontario, in accordance with the 2014 Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral Reserves and Canadian National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). The MRE has an effective date of 9 June 2026 (the “Effective Date”). Indicated and Inferred Mineral Resources are reported separately by category and have not been aggregated.
The MRE is supported by an independent technical report titled “National Instrument 43-101 Mineral Resource Estimate for the Gochager Lake Ni-Cu-Co Deposit and Technical Report for the Gochager Lake Ni-Cu-Co Project, La Ronge District, Saskatchewan, Canada”, prepared by Caracle Creek International Consulting Inc., with a Report effective 12 June 2026 and an MRE effective 9 June 2026 (the “Technical Report”). The Technical Report will be filed under the Company’s issuer profile on SEDAR+ (www.sedarplus.ca) within 45 days of the date of this news release. Readers are encouraged to review the Technical Report in its entirety.
Block grades were estimated from two-metre down-hole composites within two mineralized estimation domains, FB1 and FB2, which are separated by a fault and were treated as hard boundaries, so that only composites coded to a domain informed blocks within that domain. A total of 779 nickel composites representing 1,536 metres from 14 drill holes inform the block model, being 433 composites over 853 metres in domain FB1 and 346 composites over 683 metres in domain FB2. Open pit Mineral Resources are constrained within a Lersch-Grossmann algorithm defined pit shell with an average strip ratio of 4.22:1.