Fathom Announces Completion of the Gochager Lake Summer Field Exploration Program and Further "Footprint" Expansion Along Strike
The Gochager Lake Project Summer Field Program (the "Program") Highlights:
2,926 B-horizon soil samples were collected from 3,183 designated sites.
337 rock samples, consisting of both chip samples and grab samples were collected from various outcrop locations.
All 337 samples were analysed on-site by pXRF for nickel-copper-cobalt-sulphur and key mafic-ultramafic rock pathfinder elements (chrome and magnesium).
Multiple well-mineralized samples have been submitted for multi-element assay along with a select number of samples for whole rock geochemical analysis.
Unfortunately, due to a lightning-induced wildfire in the Gochager Lake area, the field crew was evacuated, and the Program was cut short by three days. Despite the truncated program, the crew was able to complete approximately 90% of the intended soil geochemistry sampling coverage.
The Program summary is presented in Figures 1 & 2.
Figure 1 illustrates the extension of the soil geochemistry along strike to the northeast and southwest of the area where the 2024 soil geochemistry survey was performed.
The 2025 program has added approximately 3.5km of coverage to the northeast and approximately 2.5km of coverage to the southwest.
Note: the areas to the southwest that are not highlighted in grey, are the areas where crews were unable to complete their work due to the encroaching wildfire.
The area now covered by B-horizon soil geochemistry (from 2024 and 2025) totals approximately 9km in strike and 1-3km in width. To date, the soil geochemistry coverage has been focused within the interpreted structural corridor highlighted in Figures 1 and 2.
Figure 2 illustrates chip sample locations and 3 notable polygons where pXRF analysis detected anomalous to very anomalous nickel in sulphide mineralization within metasedimentary, gabbroic and ultramafic rock.
Nickel (Ni) in disseminated sulphide mineralization in an ultramafic host was detected approximately 1,200m along strike of the historic Gochager Lake deposit.
Multiple locations of Ni in disseminated sulphide mineralization, in gabbroic rock was detected approximately 400-500m along strike of the historic Gochager Lake deposit.
Note variable texture gabbro with Ni occurring in disseminated sulphide mineralization is the host rock at the historic Gochager Lake deposit. Furthermore, Fathom recognizes Ni in disseminated sulphide mineralization in ultramafic rock (pyroxenite) occurring immediately north of the historic Gochager Lake deposit.
Elevated Ni in disseminated to semi-massive sulphide mineralization within a metasediment host was detected approximately 800m west-southwest of the historic Gochager Lake deposit. It is within this area that the highest Ni-in soil sample was collected (Fathom Press Release July 21, 2025).
The historic Gochager Lake deposit area geology map will be updated once all analyses have been received and interpreted.
We anticipate the receipt of all soil and rock geochemistry results by mid-September.
In acknowledging the efforts of the team in response to the wildfires, Ian Fraser, Fathom CEO and VP Exploration stated, "Firstly, I would like to thank the crew at TerraLogic Exploration Inc. for an excellent job done under extremely challenging circumstances. I must also acknowledge the leadership teams at both TerraLogic and Osprey Wings Ltd. for their swift action in ensuring a safe and complete evacuation of the Gochager Lake camp. I must also thank the team at JP Enterprises Inc. for their efforts in manning the pumps and sprinkler system at our camp. It has been a very challenging exploration season due to wildfires burning in our project area and we are very grateful that the crew was extracted safely and further commend the efforts of those individuals who remained in camp and ultimately saved our newly constructed 20-25 person all season camp."
He went on to comment on the exploration program and the future plans at Gochager Lake, " We look forward to interpreting the results of the soil and rock geochemistry program once assays are in hand in September. It is obvious from preliminary rock geochemistry that mineralized gabbro continues for a minimum of 500m along strike of the historic Gochager Lake deposit. We were delighted and very encouraged with the discovery of a mineralized ultramafic outcrop further along strike and on the other side of the lake from the known mineralized gabbro occurrences. We look forward to completing a geophysical survey to determine the conductivity associated with the newly discovered mineralized gabbro and ultramafic rock and to specifically determine if there is a conductor(s) below the small lake. Once we have all results in hand we will be in a better position to discuss the robust multi-element in-soil anomalies that flank the boundaries of the interpreted structural corridor and to determine the next exploration steps as we further define this burgeoning nickel camp in north central Saskatchewan."
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7843/262842_f6728b8674c48b15_002full.jpg
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7843/262842_f6728b8674c48b15_003full.jpg
Quality Assurance / Quality Control (QA/QC) Disclosure Statement
The Company contracted the services of TerraLogic Exploration Inc. ("TerraLogic") to conduct its soil and rock geochemistry program within the historic Gochager Lake deposit area. Soil samples were collected using either a hand auger or a geotool at pre-determined sites utilizing a 50m x 50m sample spacing configuration. B-horizon soil samples were collected at each site, placed in kraft soil sample bags and all metadata associated with each sample location was recorded. Once sorted and logged, samples were shipped to ALS Canada Ltd. ("ALS") in North Vancouver, British Columbia for multi-element analyses. All rock samples collected for analyses, once logged and sorted, were also sent to ALS for multi-element analyses.
As part of its ongoing exploration activities, Fathom is utilizing a portable Vanta™ XRF Analyzer ("pXRF") to provide real-time lithogeochemical, multi-element data on surface rock chip samples and rock grab samples collected in the field. The Vanta™ XRF Analyzer is a hand-held device, held in position for a total 120 seconds - beam 1 (30 seconds), beam 2 (60 seconds) and beam 3 (30 seconds) to allow for an effective reading of elements occurring at that specific point, and at that specific surface of a rock sample. All elements detected at that specific point; nickel, copper, cobalt plus key pathfinder elements, chrome and magnesium, are recorded. The reader is cautioned that pXRF data should be treated only as an indication of elements, as the accuracy of the beam position on a particular element is variable.
Qualified Person and Data Verification
Ian Fraser, P.Geo., CEO, 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 is an exploration company that is targeting magmatic nickel sulphide discoveries to secure the supply of North American Critical Minerals and to support the global green energy transition.
The Company now has a portfolio of three high-quality exploration projects located in the prolific Trans Hudson Corridor in Saskatchewan: 1) The Albert Lake Project, a 90,000+ hectare project that hosts the historic Rottenstone Mine 1. Fathom exploration to date at the Albert Lake project confirms: the Rottenstone deposit mineralization (Ni-Cu+Pd-Pt+Au ) extends to the south a minimum 40m and remains open, and the potential for a footwall offset of the Rottenstone deposit; a new Rottenstone-like (similar host rock and similar mineralization) discovery by drilling 500-550m W-NW of the historic mine; and similar Rottenstone-like host rock and mineralization intersected by drilling approximately 1.5km S-SW of the historic mine. 2) The 34,000+ hectare Gochager Lake Project that hosts the historic Gochager Lake deposit 2. Fathom exploration to date at the Gochager Lake project confirms: the vertical extension of Ni-Cu-Co mineralization a minimum of 150m below the interpreted historic deposit boundary, and very good potential remains open for expansion in all directions; and multiple high-grade zones / chutes of vertically oriented Ni-Cu-Co sulphide breccia mineralization occur within the historic deposit and remain open for further expansion and delineation; and surface mapping and soil / rock geochemistry has confirmed the Gochager Lake deposit host rock and mineralization style; the footprint, extends a minimum 1,200m to the northeast and remains open for expansion along strike. 3) The 10,000+ hectare Friesen Lake Project located 40km southwest of the historic Rottenstone Mine and 30km northwest of the historic Gochager Lake deposit. The Friesen Lake property hosts the Olsen Cu-Ni-Pt Showing also referred to as the Friesen Lake Cu-Ni-Pt showing and is described as an ultramafic dyke that historic trenching and drilling demonstrates Cu-Ni-Pt-Pd and Au mineralization within the ultramafic dyke (Saskatchewan Mineral Deposit Index (SMID) #0928a). To date Fathom has not performed any exploration at the Friesen Lake Project.
1 - The Rottenstone Mine; a small open-pit mining / milling operation in production 1965-1969. Milling commenced September 5, 1965, operated through November 7, 1965, and 5,500 short tons were mined and milled, the average production grade being 3.23% Ni, 1.83% Cu, 0.14 oz/ton Pt, 0.10 oz/ton Pd, 0.03 oz/ton Au (9.26 g/t* 3E) and 0.20 oz/ton Ag for this period. Initial milling operations in 1965 produced 1,070 dry short tons of concentrates, the average grade being: 10.835% Ni, 5.74% Cu, 0.33 oz/ton Pt, 0.53oz/ton Pd, 0.10 oz/ ton Au (32.91 g/t* 3E) and 1.25 oz/ton Ag. (Richards, B.R. and Robinson, B.G.W. 1966), Mining and milling a small ore deposit …. Rottenstone Mining Limited: The Canadian Mining and Metallurgical Bulleting for December 1966. The Saskatchewan Mineral Deposit Index (SMDI) #0958 reports final mine production in 1969 of 28,724 tons with an average grade of 3.28% Ni, 1.83% Cu and 9.63 g/t 3E (Pd-Pt+Au) and that approximately 9,000 tons of concentrate were sold to the International Nickel Company of Canada Limited. * A factor of 34.286 g/tonne was used to convert 1 oz/ton to g/tonne (g/t).
2 - The Gochager Lake property is host to the historic Gochager Lake Ni-Cu deposit. There is no source or available Technical Reports to verify the historic resource estimate for the Gochager Lake deposit; hence, Fathom will treat the Gochager Lake deposit historic estimate as an Exploration Target. Available records in the SMDI and Saskatchewan Mineral Assessment Database (SMAD) suggest an Exploration Target of 4-5 million tons grading 0.3% Ni - 0.4% Ni and 0.08% Cu - 0.09% Cu, containing a higher-grade core of 1.5-2 million tons grading 0.6% NiEq - 0.7% NiEq (note NiEq is based on Ni-Cu only). The ranges of tons and grade are conceptual as there is insufficient historic data to verify the historical resource estimate(s) for the Gochager Lake deposit, and the higher-grade core. At present, Fathom has drilled 16 drillholes (5,549m) into the historic Gochager Lake deposit and has confirmed Ni-Cu grades comparable to and higher than the historical grades reported, thus confirming that a deposit of Ni-Cu+Co metal accumulation does exist at the historic Gochager Lake deposit / property. Furthermore, insufficient drilling has been done by the Company to define a current mineral resource, and again at this time, it is uncertain if further drilling will result in the Exploration Target being delineated as a mineral resource. The disclosed potential quantity and grade has been determined by historic records notably; the Saskatchewan Mineral Deposit Index (SMDI #0880) reports delineation drilling outlined a deposit at the historic Gochager Lake Deposit; Steel, J.S. (1990)(SMAD 73P15-0091) : Report on a Diamond Drilling Program on the Gallagher (Gochager) Lake Property of McNickel Inc., reported that Scurry-Rainbow Oil Ltd. constructed vertical sections and a longitudinal section from drill data collected 1966-1968, and an orebody with reasonably well-defined limits was interpreted. Ore reserves were then calculated for the Zone A. As stated above the historic estimate is not well documented and there are no available Technical Reports to support the historic resource estimate(s).
ON BEHALF OF THE BOARD
"Ian Fraser"
CEO, VP Exploration, Director
For further information, please contact:
Ian Fraser, CEO, VP Exploration
1-403-650-9760
ifraser@fathomnickel.com
Or
Doug Porter, President and CFO
1-403-870-4349
dporter@fathomnickel.com
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 payment of terms under the Option Agreement, permitting for the Property, receipt of an exploration permit, timing of the exploration program on the Property and the Company achieving the earn-in thresholds under the Option Agreement. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. 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. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances except in accordance with applicable securities laws. Actual events or results could differ materially from the Company's expectations or projections.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
3 minutes ago
- CTV News
Green Light: Quebec City uses AI to manage traffic
Quebec City has turned to Google's artificial intelligence (AI) to synchronize traffic lights, which officials say will improve traffic flow, reduce congestion, and lower greenhouse gas emissions. According to Google Canada, Quebec City is the first city in the country to partner with the web giant's Green Light project. As part of this project, AI analyzes driving trends from Google Maps and combines this data with information on the location of traffic lights in the city. 'The Green Light project uses driving trends from Google Maps and artificial intelligence to map a city's traffic patterns and then make specific recommendations for specific intersections that can be implemented very quickly by city engineers,' explained Laurence Therrien, public affairs manager at Google Canada, in an interview with The Canadian Press. She clarified that AI data won't replace the work of engineers, but rather serves as an additional tool. 'The aggregated and anonymized trends from Google Maps really give a much faster and more reliable overview of a city's traffic than if it were done manually or with existing systems,' she said. Present in some 20 cities The Green Light project is being used in 19 cities on four continents. According to a data analysis conducted by Google in these cities, the project has 'demonstrated the potential to reduce frequent stops and starts by up to 30 per cent and estimated CO2 emissions at urban intersections by 10 per cent.' Google's AI aims to make car traffic flow more smoothly. If a city emphasizes smooth car travel, does it risk encouraging more people to use their cars, to the detriment of active or public transportation? 'If car traffic flows more smoothly, so does bus traffic,' replied Therrien. 'So it encourages public transportation, which is much more efficient than if traffic lights are not automated,' she said. Initial positive results in Quebec City In Quebec City, the project has already made it possible to adjust the timing of traffic lights at 11 intersections in the city, and the initial results are positive, according to Mayor Bruno Marchand's administration. 'An innovative project like Green Light allows us to quickly and effectively optimize our road network, thereby improving traffic flow and efficiency,' said Marchand in a press release. A compelling example In the press release issued Monday morning, the City of Quebec 'gave an example of the project's impact.' The municipal administration explained that during the evening rush hour, traffic lights were 'slightly out of sync' at the intersection of Côte Saint-Sacrement and Semple Street, at the corner of Charest Boulevard, causing delays for drivers travelling down Côte Saint-Sacrement and leading to traffic jams. 'Using the Green Light AI model, Google proposed reducing the gap between the lights by 15 seconds to align the timing with those at Semple and Charest,' and 'northbound travel, which is the most frequent in this area according to 2023 data, is now smoother and better coordinated.' This example shows how AI 'can complement the work of municipal experts by proposing simple, effective, and data-driven adjustments,' according to the city. The Green Light project is available free of charge to cities that wish to use it. - This report by The Canadian Press was first published in French on Aug. 18, 2025.
CBC
4 minutes ago
- CBC
Horse racing community blindsided by Surrey, B.C., racetrack closure
Social Sharing The local horse racing community is in shock following the closure of the Fraser Downs racetrack in Surrey, B.C. The news came just weeks before Harness Racing B.C. races were set to start. Kelly MacMillan, spokesperson for the group, said there was no prior warning about the closure. "It was just a complete shock. We had no idea this was coming," MacMillan said. "We were expecting to start racing on September 4 and people have ... incurred great expenses, just have that pulled out at the 11th hour." Great Canadian Entertainment, which owns and operates the track, said Friday the closure takes effect immediately, though the adjacent Elements Casino Surrey will remain open. The decision follows notice from the City of Surrey, which owns the Cloverdale Fairgrounds where the racetrack is located, that it is terminating the lease. Fraser Downs was B.C.'s only standardbred horse racing facility and had been in operation since 1976. While the grandstand and adjacent Elements Casino will remain open, the racetrack, stables and backstretch will be shut down. Development plans In a statement, Surrey Mayor Brenda Locke said the decision allows the city to begin critical planning to "revitalize the Cloverdale Fairgrounds and Town Centre." It's part of a broader redevelopment plan for Cloverdale Fairgrounds, which include new housing, a $3 billion hospital, public spaces, cultural facilities and expanded recreation amenities. However, it is unclear what exactly will be built at the nearly five-hectare site. MacMillan and others in the industry argue the decision fails to consider the impact for workers, horse owners and breeders. "Some of the staff are going to be on the street," he said. "The people that support horse racing [like] feed stores, hay stores, they've just lost a huge client without notice and no ability to plan around it." WATCH | Horse racing at one of the two remaining racing tracks in B.C.: Fraser Downs closure shocks B.C. horse racing community 13 hours ago Horse racing at one of the two remaining racing tracks in B.C. has come to an end after the City of Surrey revealed its plans to redevelop the land for housing and other public amenities. As Sohrab Sandhu reports, the news has come as a huge shock to the racing community. Doug McCallum, the former mayor of Surrey and former CEO of Harness Racing B.C., is calling the closure "a devastating blow to Surrey's economy, heritage and working families." "Locke has steamrolled an entire industry in Surrey," he said in a statement Monday. "Trainers, breeders, jockeys, and workers with unique skill sets are now out of work. These aren't jobs that can be replaced overnight." Surrey Coun. Linda Annis supports the city's decision, stating that housing is desperately needed for the city's rapidly growing population. "The city needs to look at what we can do with the lands that would be best for the residents of Surrey, what can we do to better utilize the lands there in terms of housing, improving public spaces," she said. Locke says the redevelopment will help protect Old Cloverdale as a "historic precinct," but critics question how ending a nearly 50-year-old racing tradition achieves that. "What better way to preserve the early way of life in the heritage than to continue on racing?" said David Milburn, president of the Horsemen's Benevolent Protective Association of B.C. "It's only five hectares we're talking about here …they can go ahead with their development and still continue the race track there." One remaining racetrack in B.C. Milburn says his association has "great sympathy" for the standardbred community and plans to help them find new racing opportunities. With Fraser Downs closed, Hastings Racecourse at the Pacific National Exhibition (PNE) fairgrounds is B.C.'s only remaining track. The lease for Hastings is set to expire in May 2026, and there has been talk of redeveloping the site for a potential Whitecaps stadium, but Milburn remains confident about the track's future. "We're of the view that [the Hastings] lease is going to get renewed," Milburn said. "We believe we're on solid ground here at Hastings." Fraser Downs faced uncertainty earlier this year when Great Canadian Entertainment ordered the closure of its stables to deal with a longstanding rat infestation. The society challenged the move in court, arguing it would cause irreparable harm to the industry. However, the B.C. Supreme Court ruled in May that the temporary closure for pest control did not meet that threshold. WATCH | Rat infestation shuts down popular Surrey horse racetrack: Rat infestation shuts down popular horse racetrack and training facility in Surrey 3 months ago A rat infestation has shut down a popular horse racetrack and training centre in Surrey. Horse owners have filed a lawsuit in hopes of keeping the facility open while the pests are exterminated. As CBC's Jon Hernandez reports, it's one of the only horse training facilities of its kind in the province. No horses have been stabled at the site since late May but the racing community had held out hope for a September return. "Had we been given notice, we could've prepared," MacMillan said. Despite the setback, he says the association is exploring alternatives.
Globe and Mail
13 minutes ago
- Globe and Mail
Can American Express Thrive in the BNPL Era or Just Survive?
American Express Company AXP, also known as AmEx and well-known for its premium cards and loyalty programs, is navigating the new era of Buy Now Pay Later (BNPL). While BNPL has transformed consumers' mindset regarding their spending by offering short-term flexibility that challenges traditional credit methods, the company has opted not to resist the trend but to adapt it to fit in its own model. With its 'Plan It' feature, AmEx gives cardholders the flexibility to break down their purchases of $100 or above into manageable monthly payments, along with its continued feature of earning rewards and benefits from the brand's trusted ecosystem. The company redefined it by integrating BNPL services into the AmEx card experience, which provides installment options with its current services. AXP makes sure that customers see this flexibility as a natural extension of their card benefits, rather than something entirely separate. It is also collaborating with companies to stay visible in the digital shopping age. In this process, AXP is expanding its footprint in the BNPL space and demonstrating that legacy financial players can innovate on their terms while driving growth and retaining customers solidly in their ecosystem. All these results in a massive 98% spend retention. Its network volume rose 7% year over year in the second quarter of 2025. Also, its closed-loop business model will likely enable it to generate more interest income from the growing BNPL trend. These suggest that American Express is clearly positioning itself not only to withstand the BNPL disruption but also to lead it. How Are Competitors Faring? Some of AXP's competitors in the BNPL space are PayPal Holdings, Inc. PYPL and Affirm Holdings, Inc. AFRM. PayPal offers features like Pay in 4 and Pay monthly, which continue to strengthen its BNPL presence. In the second quarter of 2025, PayPal's total payment volume grew 6% year over year. Its active account rose 2% year over year to 438 million in the same period. Affirm is building a solid niche in BNPL with a primary focus on higher-ticket purchases, along with low-ticket purchases. In the third quarter of fiscal 2025, Affirm's active consumers increased 23% year over year, along with 36% year-over-year growth in its gross merchandise volume. American Express' Price Performance, Valuation & Estimates Shares of AXP have declined 2.9% in the year-to-date period against the industry 's growth of 3.8%. From a valuation standpoint, American Express trades at a forward price-to-earnings ratio of 18.4X, down from the industry average of 20.6. AXP carries a Value Score of B. The Zacks Consensus Estimate for American Express' 2025 earnings is pegged at $15.26 per share, implying a 14.3% jump from the year-ago period. The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Free Report: Profiting from the 2nd Wave of AI Explosion The next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives. Investors who bought shares like Nvidia at the right time have had a shot at huge gains. But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies. Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI's next leap forward. Access AI Boom 2.0 now, absolutely free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report American Express Company (AXP): Free Stock Analysis Report PayPal Holdings, Inc. (PYPL): Free Stock Analysis Report Affirm Holdings, Inc. (AFRM): Free Stock Analysis Report
