Proactive Investors - Fathom Nickel Inc said its recently completed surface time domain electromagnetic (TDEM) and borehole electromagnetic (BHEM) geophysical programs have identified new zones of conductivity at the Gochager Lake project in Saskatchewan, Canada.
The company said the TDEM survey covered approximately 1 square kilometre and defined a moderate-strength zone of conductivity directly over the top of the historic Gochager Lake deposit, extending both to the southwest and the northeast of the deposit area.
Newly identified zones occur to the north, north-northeast, and east-southeast, Fathom Nickel said.
The company believes the Gochager Lake deposit occurs on the axis of a major fold based on internal lithostructural interpretation of a 2008 VTEM survey.
It said directly along strike of the Gochager Lake deposit and on the interpreted fold axis, there is a moderate strength, untested VTEM anomaly which the company said the TDEM survey confirmed is “very Gochager-like.”
Through its two BHEM programs to date, the company said it has identified at least four separate conductive zones in the area of its first quarter 2023 drilling, with several lying outside the historical Gochager Lake deposit.
Fathom Nickel (CSE:FNI) CEO Ian Fraser said the company was extremely pleased with the results of the TDEM survey.
“It was a very important exercise for us to recognize, define and understand the electromagnetic signature associated with the historic Gochager Lake deposit,” he said. “We now have a very good understanding of the surface signal and the geophysical setting of the deposit.”
He added that the company was very encouraged to see that this signal extends along strike and to see similar occurrences elsewhere in proximity to the deposit.
“Recognizing the structural setting and a similar VTEM/TDEM anomaly further along strike and aligning with an interpreted fold axis makes the area northeast of the Gochager deposit very prospective and a high-priority target area for future exploration efforts,” he said in a statement.
“Now knowing that high-grade nickel defined in our drillhole GL23003 occurs in association with very strong in-hole and off-hole BHEM conductivity signals, yet below a moderate strength TDEM surface expression, has us very intrigued and excited about numerous other similar features (Gochager look-a-likes) that we see in the historic 2008 VTEM data set.”
The company said its BHEM interpretation is ongoing and finalized 3D imaging and modelling will be used in the drill targeting process for the company’s August drill program at the project.
The TDEM survey has highlighted drill targets outside of the Gochager Lake deposit area that the company also looks forward to drill testing, it noted.
Fathom Nickel is an exploration company that is targeting magmatic nickel sulphide discoveries to support the rapidly growing global electric vehicle market.