Nickel Mining at a Feverish Pitch as EV & Other Green Tech Demand Surges
The Trans-Hudson Corridor, part of the vaunted Canadian Shield, is a geologically old and well-studied region that is known to host a variety of mineral deposits, including nickel, copper, platinum group metals, and gold. The corridor stretches for over 2,000 kilometers across Canada and the United States. It’s expansive nature and prolific history – in combination with friendly mining regulations, rich infrastructure, and climate that allows for year-round mining – has attracted some of the biggest miners in the world and a handful of promising juniors aiming to establish mining operations.
These Companies Understand the Value of Nickel
Glencore (LSE: GLEN) (OTC: GLNCY) is a Swiss mining company that owns and operates the Raglan mine in Quebec, Canada, one of the largest nickel mines in North America. Vale (NYSE: VALE) is a Brazilian mining company that owns and operates the Thompson Nickel Belt in Manitoba, and the Voisey's Bay mine in Newfoundland and Labrador Canada. The Thompson Nickel Belt is one of the largest nickel producing regions in the world and Voisey’s Bay ranks as one of the largest nickel mines in the world.
These nickel juggernauts know what the Trans-Hudson corridor hosts and are pulling the metal from the ground as fast as possible to keep up with demand that is surging due to nickel’s multitude of traditional uses and new needs in the green economy. It is proving to be irreplaceable in a variety of products that are essential for a low-carbon future, including electric vehicles (EVs), batteries, and renewable energy technologies, such as solar panels and wind turbines.
Fathom Nickel Inc. (CSE: FNI)(OTC: FNICF) is a company that has seen a nice appreciation in recent months as the company develops its flagship nickel projects, Albert Lake and Gochager Lake, spanning over 108,000 hectares in a historic metal hotbed in mid-to-upper Saskatchewan. An uptrend is firmly in place, with shares climbing from 4.5 cents in February to a 52-week high of 28 cents on June 16.
Fathom is targeting magmatic nickel sulphide discoveries in the heart of the Trans-Hudson trend where the mineralization makes a right turn in Saskatchewan after trending due north out of the U.S. Fathom’s flagship projects are Albert Lake Project, a 90,000+ hectare project that was host to the historic and past producing Rottenstone deposit (produced high-grade Ni-Cu+PGE, 1965-1969), and Gochager Lake, a 19,559 hectare property that is host to a historic, NI43-101 non-compliant open pit resource consisting of 4.3 million tons at 0.295% Ni (nickel) and 0.081% Cu.
Finding the Nickel
Fathom completed its inaugural Gochager Lake exploration campaign in February 2023, consisting of two drillholes (GL23-003 and GL23-004) designed to confirm the continuity of mineralization outlined from historical drilling at Gochager Lake. It did, as highlighted by continuous nickel mineralization of 1.49% over a length of 58.2 meters, including intercepts as high as 2.95% over 4.2 meters; impressive cobalt grades encountered throughout all zones of mineralization, including a 4.2 meter section grading 0.22%; and a pleasant surprise of a 3PE (platinum, palladium + gold) anomaly of 28.23 g/t over 0.7 meters.
This exploration marked the very first attempt that time domain borehole electromagnetics (BHEM) had been trialed on the property and the results were very successful in defining the high conductance nature of the Ni-bearing sulphides associated with this deposit. BHEM is a geophysical method used to map the subsurface for mineral deposits by measuring the electrical conductivity of rocks and minerals. BHEM uses a transmitter and receiver coil lowered into a borehole. The receiver coil detects changes in the electromagnetic field caused by the presence of different materials in the subsurface. The data collected by BHEM can be used to create 3D models of the subsurface, which can be used to identify potential mining targets.
Fathom’s drilling and BHEM did exactly what it is designed to d provide evidence of the existence of metals at Gochager. It provided valuable information about the geometry of the deposit to understand the geology around existing vertical drill holes. The project is steeply dipping and the original BHEM surveys were designed with this geometry in mind. However, the complexity of response patterns observed suggested other possible geometries were evident and efforts to further resolve these is now the focus of this summer's exploration campaign.
To date, BHEM data has been collected utilizing one of three designed loops; field work on the other two loops continues. What they’ve learned is the type of stuff that gets geologists excited. For instance, preliminary BHEM highlights included off-hole responses building at the end of drillholes GL-89-03, GL18001 and GL23004. Strong off-hole conductors in GL18001 occur directly below and above known mineralization (1.96% Ni / 2.7m; 126.7 – 129.4m) occurring in the drillhole. High conductance off-hole response at ~160m and ~190m in GL18001.
Plus, off-hole conductors in GL18001 occur in areas not previously tested by drilling.
In laymen speak, the data is pointing to a potentially significant mineralized discovery.
In the words of Ian Fraser, Fathom’s CEO and VP Exploration, “untested BHEM anomalies show the enormous potential for expansion of high-grade Ni-Co sections within the historic deposit.” Fraser added that he is excited about defining additional target areas ahead of the next drilling campaign, expected to commence this August.
Investors have taken notice of all that Fathom Nickel can have with its dominant land position. Safe to say they will be on close watch for the next batch of data, particularly because it is common mining knowledge that value is found in the drill bit.
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Fathom Nickel Inc. (CSE: FNI) (OTC: FNICF) Full Corporate Write-Up: Click Here.
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