Perhaps best known for its use in the self-named five-cent coin, %Nickel is one of the most versatile metals found on Earth (and in orbit, according to wannabe space miners of Psyche 16). Aside from its use in money, the silvery, ductile, and corrosion-resistant metal has applications in steel making, healthcare, batteries, food, chemicals, communications, and many other industries. Demand is not going to slow, which has investors looking for companies well positioned to produce in friendly jurisdictions with long mining histories.
In September 2022, Brazilian mining company Vale (NYSE: VALE) forecast global nickel demand to increase 44 percent by 2030, citing nickel’s use in batteries for electric vehicles as a catalyst. According to Vale, that would put demand at 6.2 million tonnes per annum.
All Psyche 16 speculation aside, the Royal Society of Chemistry notes that a substantial amount of nickel on Earth today was delivered via meteorites. The famous mining region of the Sudbury Basin, also known as the Sudbury Nickel Irruptive, in Ontario, Canada was formed 1.85 billion years ago when a comet smashed into the Earth, leaving an imprint spanning 37 miles by 18 miles and 9.3 miles deep. After nearly 140 years of mining, the basin has produced more than 8 million tonnes each of nickel and copper, and over 3,200 tonnes of silver, 300 tonnes of platinum and 100 tonnes of gold. Vale is the basin’s unquestionable giant, with dozens of other miners like %ArcherExploration (CSE: $RCHR), %NewAgeMetals (TSX-Venture: $NAM) (OTCQB: NMTLF) and %MagnaMining (TSX-Venture: $NICU) (OTCPK: MGMNF) advancing Sudbury Basin projects.
As far as sheer opportunity and high-grade metals, Canada’s Trans Hudson Corridor quietly rivals the fame of Sudbury. Stretching thousands of miles, the massive, metal-rich corridor starts in U.S.’s Midwest, heads upwards through Saskatchewan and western Manitoba, turns hard right through upper Ontario, Hudson Bay, Quebec and into Newfoundland.
The Trans Hudson Corridor, which is believed to have formed a couple hundred million years before the Sudbury Basin collision, is home to many prolific mines producing today and in the past. For instance, the Thompson Nickel Belt in Manitoba has produced over 2.5 million tonnes of nickel since 1959. The open-pit Rottenstone Mine in Saskatchewan weighs-in as one of Canada’s highest grade nickel mines ever, producing at 3.23+% nickel during the 1960s.
The historic Rottenstone Mine is now part of the over 90,000-hectare Albert Lake property of %FathomNickel (CSE: $FNI) (OTCQB: FNICF). Fathom has amassed an impressive land position in the corridor in Saskatchewan between Albert Lake and its Gochanger Lake project, which covers 18,569 hectares to the southwest of Albert Lake. Gochanger Lake has an historic open pit resource (NI 43-101 non-compliant) estimated at 25 million pounds of nickel at 0.30% NI with copper and cobalt credits.
The mineralization of the historic Rottenstone deposit is unique and contains several notable associated metals. Sample metallurgy also showed favorable metal recoveries of greater than 90% , nickel (Ni), copper (Cu), cobalt (Co), and over 80% palladium/platinum (Pd/Pt). While producing the 3.23+% Ni, the mine also produced 1.83% Cu and 9.63 g/t Pd‐Pt‐Au (gold).
Research by Fathom at the Albert Lake project, comprised of 14,000+ meters of drilling, heli-mag and heli-EM surveys, gravity survey, surface exploration, and more, indicates that the prolific Rottenstone deposit is part a much larger magmatic nickel sulphide system.
Fathom’s CEO and VP Exploration Ian Fraser is a big believer in using borehole %Electromagnetic (BHEM) technology as a “copper finder.” Both Albert Lake and Gochager Lake are historically underexplored with respect to modern tech and overall scale. Fathom has brought BHEM to both and with good success to date. Exploration is ongoing at Albert Lake, with analyzation of BHEM data to be used to pinpoint new drill targets. Assays are expected shortly.
At Gochager Lake, Fathom recently announced preliminary modelling of several robust off-hole BHEM conductors associated with five drillholes (two recent and three historic), which indicate mineralization in the hole and surrounding areas and just this morning announced assay results from their recent two drill hole program completed in February. As per today's press release, the company highlighted continuous nickel mineralization of 1.49% over a length of 58.2 meters, including intercepts as high as 2.95% over 4.2 meters. Furthermore, impressive cobalt grades were also encountered throughout all zones of mineralization, including a 4.2-meter section grading 0.22%. Armed with this breaking information in combination with historic and recent exploration data, Fathom can more precisely focus its drilling on semi-massive to massive style of mineralization to expand the resource.
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Fathom Nickel Inc. (CSE: FNI)(OTC: FNICF) Full Corporate Write-Up: Click Here.
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