Latest news with #FirstAtlanticNickelCorp
Toronto Star
23-07-2025
- Business
- Toronto Star
First Atlantic Nickel Unveils Initial Phase 2 Drill Plan Map with Drilling Underway Following Phase 1 Discovery at RPM Zone Confirming First Large-Scale Awaruite in the Atlantic
GRAND FALLS-WINDSOR, Newfoundland and Labrador, July 23, 2025 (GLOBE NEWSWIRE) — First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ('First Atlantic' or the 'Company') is pleased to announce the release of its Initial Phase 2 Drill Plan Map detailing the locations of the first five holes at the RPM Zone, within its 100%-owned Atlantic Nickel Project in central Newfoundland. The recently completed Phase 1 drilling program successfully defined a near-surface mineralized zone measuring approximately 400m x 500m containing magnetically recoverable awaruite nickel mineralization. All Phase 1 RPM Zone drill holes intersected broad, continuous zones of mineralization, yielding consistent grades and recoveries. Metallurgical testing via the Davis Tube Recovery (DTR) method yielded an average magnetically recoverable nickel grade (DTR Ni%) of 0.13%, with an average magnetic nickel concentrate of 1.41% Ni and an average mass pull of 9.1%. These results indicate an average total nickel recovery of 54% based on an initial total nickel grade of 0.24%. The mineralized system at the RPM Zone remains open in all directions, presenting significant exploration upside. The fully funded Phase 2 drilling program is now underway and designed to further expand on this discovery—the first widely disseminated, drilled awaruite discovery in the Atlantic. The Atlantic Nickel Project comprises a large, continuous 30-kilometer belt of serpentinized ultramafic ophiolite hosting disseminated awaruite nickel mineralization within heavily serpentinized, fractured, and sheared peridotite rocks. These formations originated from a substantial segment of ancient oceanic crust that was tectonically emplaced onto the continental margin. Awaruite, a natural nickel-iron alloy (Ni₃Fe), is notable for its sulfur-free and magnetic properties, which facilitate straightforward processing through magnetic separation and flotation. This eliminates the need for downstream high-temperature smelting, roasting, or high-pressure acid leaching (HPAL), processes typically required for conventional nickel sulfide and laterite deposits.
Business Upturn
09-07-2025
- Business
- Business Upturn
First Atlantic Nickel Expands RPM Zone Awaruite Nickel-Alloy (Ni₃Fe) Discovery: 400-Meter Northern Extension Yields 1.47% Nickel Concentrate Over 351 Meters in DTR Metallurgical Recovery Testing
GRAND FALLS-WINDSOR, Newfoundland and Labrador, July 09, 2025 (GLOBE NEWSWIRE) — First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ('First Atlantic' or the 'Company') is pleased to announce positive Davis Tube Recovery (DTR) metallurgical test results from drill hole AN-24-05, the final hole completed during the Phase 1 drilling at the RPM Zone, part of its district scale Atlantic Nickel Project (the 'Project'). Drill hole AN-24-05 returned a continuous interval of 351 meters averaging 1.47% nickel and 1.53% chromium in magnetic concentrate, with a mass pull of 8.21%. This corresponds to a magnetically recoverable nickel grade (DTR grade) of 0.12% over the 351 meter interval. Located approximately 400-meters north of the initial RPM discovery hole AN-24-02, this step out hole confirms that widespread disseminated, visible awaruite mineralization extends significantly northward toward Pipestone Pond. Phase 2 drilling is currently underway, building on the success of Phase 1, which already defined a 400-meter by 500-meter area of awaruite nickel mineralization. All four holes drilled at the RPM Zone in Phase 1 intersected disseminated awaruite mineralization, returning consistent nickel grades and recoveries. Concentrate grades from these holes ranged from 1.32% to 1.47% nickel, with mass pulls between 8.21% and 9.53%. Notably, all drill holes ended in mineralization and remain open in all directions, indicating significant expansion potential. The consistent magnetic concentrate grades and mass pulls across the drilled area underscore the extensive nature of the awaruite nickel mineralization in the RPM Zone. Advertisement Highlights: AN-24-05 Extends RPM Zone 400 Meters North, Confirming Continuity of Awaruite Mineralization : Drill hole AN-24-05, the fourth hole completed during the Phase 1 drill program at the RPM Zone, extends the drill-defined mineralization approximately 400 meters north of the initial discovery hole (AN-24-02). The results confirm the continuity of widespread disseminated awaruite nickel mineralization within the RPM Zone. : Drill hole AN-24-05, the fourth hole completed during the Phase 1 drill program at the RPM Zone, extends the drill-defined mineralization approximately 400 meters north of the initial discovery hole (AN-24-02). The results confirm the continuity of widespread disseminated awaruite nickel mineralization within the RPM Zone. Metallurgical Testing of AN-24-05 Returns 1.47% Nickel Concentrate Over 351 Meters : Davis Tube Recovery (DTR) testing of the 351meter mineralized interval in AN-24-05 returned a nickel grade of 1.47% in magnetic concentrate, with a mass pull of 8.21%. This equates to a magnetically recoverable DTR nickel grade of 0.12%. The total nickel recovery was 50.26% from a head grade of 0.24% total nickel, highlighting the effectiveness of magnetic separation as a metallurgical process for upgrading awaruite nickel mineralization. : Davis Tube Recovery (DTR) testing of the 351meter mineralized interval in AN-24-05 returned a nickel grade of 1.47% in magnetic concentrate, with a mass pull of 8.21%. This equates to a magnetically recoverable DTR nickel grade of 0.12%. The total nickel recovery was 50.26% from a head grade of 0.24% total nickel, highlighting the effectiveness of magnetic separation as a metallurgical process for upgrading awaruite nickel mineralization. Phase 1 Drilling Expands Awaruite Nickel Discovery at RPM Zone: The Phase 1 drill program has delineated an initial mineralized zone measuring 400 x 500 meters. All four holes within the RPM Zone intersected significant awaruite nickel mineralization, returning consistently high DTR concentrate grades ranging from 1.32% to 1.47% nickel and mass pulls of 8.21% to 9.53%. These results yielded magnetically recoverable DTR nickel grades between 0.11% to 0.14%, establishing a strong foundation for Phase 2 expansion drilling. The Phase 1 drill program has delineated an initial mineralized zone measuring 400 x 500 meters. All four holes within the RPM Zone intersected significant awaruite nickel mineralization, returning consistently high DTR concentrate grades ranging from 1.32% to 1.47% nickel and mass pulls of 8.21% to 9.53%. These results yielded magnetically recoverable DTR nickel grades between 0.11% to 0.14%, establishing a strong foundation for Phase 2 expansion drilling. RPM Zone Discovery Highlights District-Scale Potential of Atlantic Nickel Project : The RPM Zone discovery occurs within a 30 km long, highly magnetic ultramafic nickel belt known as the Pipestone Ophiolite Complex. The zone is located approximately 25 kilometers south of historic awaruite nickel-alloy (Ni₃Fe) mineralization identified by Altius Resources and Cliffs Natural Resources in 2010 at the Atlantic Lake Zone. Average DTR nickel grades of 0.11% to 0.14% from the RPM Zone demonstrate the potential for district-scale awaruite mineralization within multiple target areas of the project. : The RPM Zone discovery occurs within a 30 km long, highly magnetic ultramafic nickel belt known as the Pipestone Ophiolite Complex. The zone is located approximately 25 kilometers south of historic awaruite nickel-alloy (Ni₃Fe) mineralization identified by Altius Resources and Cliffs Natural Resources in 2010 at the Atlantic Lake Zone. Average DTR nickel grades of 0.11% to 0.14% from the RPM Zone demonstrate the potential for district-scale awaruite mineralization within multiple target areas of the project. Phase 2 Exploration and Expansion Drilling Underway to Expand RPM Mineralized Footprint: The Phase 2 drilling campaign is currently underway, utilizing a systematic grid-based drill plan designed to step out from the Phase 1 footprint. The program aims to expand the RPM Zone's mineralized area and further define the extent of awaruite nickel mineralization. RPM ZONE DRILL HOLE AN-24-05 RESULTS Table 1: DTR Metallurgical Test Results Summary – Drill Hole AN-24-05 (RPM Zone) Parameter Average Maximum Drill Length Nickel – Magnetic Concentrate Grade (Davis Tube Recovery Concentrate assayed by XRF-Fusion) 1.47% 2.61% 351m Chromium – Magnetic Concentrate Grade (Davis Tube Recovery Concentrate assayed by XRF-Fusion) 1.53% 2.88% 351m Mass Pull (Magnetic Concentrate mass as % of Davis Tube test starting mass) 8.21% 10.9% 351m Total Nickel Grade (Whole Rock ICP-OES assay) 0.24% 0.29% 351m DTR Nickel Grade – Magnetically Recovered Nickel (Calculated with Davis Tube Recovery method) 0.12% 0.17% 351m Total Nickel Recovery Magnetically Recovered Nickel as a Percentage of Total Nickel Content (from Whole Rock Assay Analysis) 50.26% 69.8% 351m The Company's final drill hole from the Phase 1 program at the RPM zone, AN-24-05, has returned positive DTR metallurgical test results that extend the known awaruite mineralization approximately 400 meters to the north of the initial RPM Zone discovery hole (AN-24-02). Drill hole AN-24-05 intersected 351 meters of awaruite mineralization averaging 1.47% nickel and 1.53% chromium in magnetic concentrate. The interval demonstrated a consistent mass pull averaging 8.21% and a DTR nickel grade of 0.12%, with total nickel recovery averaging 50.26% over the 351meter interval. These results highlight the strong and uniform metallurgical properties of the northern extension of the RPM Zone. With the completion of AN-24-05, Phase 1 drilling has delineated an initial mineralized footprint measuring approximately 400-meters by 500-meters. All four holes from the program successfully intersected broad zones of disseminated awaruite-bearing nickel mineralization. The metallurgical results are notably consistent across all holes, indicating uniform nickel alloy mineralization hosted within ultramafic host rocks and strong lateral continuity of the mineralization system, which remains open in all directions and at depth. Across the RPM Zone, Phase 1 drilling returned magnetic concentrate grades ranging from 1.32% to 1.47% nickel, with mass pulls between 8.21% and 9.53%. Corresponding DTR nickel grades averaged 0.11% to 0.14%, confirming the RPM Zone as an extensive awaruite-dominated nickel system with robust metallurgical characteristics. All Phase 1 holes ended in mineralization, providing a solid foundation for the Phase 2 drilling program, which aims to expand the mineralized footprint and further delineate the RPM Zone's scale and continuity. Table 2: DTR Metallurgical Test Results Summary from Drill Hole AN-24-05 (RPM Zone) Hole ID From (m) To (m) Interval (m) Mass Pull (%) Nickel – Magnetic Concentrate Grade Ni (%) Nickel – Total Grade Ni (%) DTR Nickel Grade – Magnetically Recovered Ni (%) Total Nickel Recovery (%) Chromium – Magnetic Concentrate Grade Cr (%) Chromium Total Grade Cr (%) DTR Chromium Grade – Magnetically Recovered Cr (%) Cobalt – Magnetic Concentrate Grade Co (%) Hole AN-24-05 6 357 351 8.21 1.47 0.24 0.12 50.26% 1.53 0.29 0.12 0.06 including 6 207 201 8.36 1.39 0.23 0.12 49.13% 1.58 0.30 0.13 0.07 including 207 309 102 7.82 1.76 0.24 0.14 56.95% 1.50 0.27 0.12 0.07 including 309 357 48 8.32 1.18 0.24 0.10 40.59% 1.39 0.29 0.11 0.05 Including 'up to' 10.90 2.61 0.29 0.17 69.78% 2.88 0.55 0.28 0.09 Table 3: RPM Phase 1 DTR Metallurgical Results Summary Drill hole Interval (m) Magnetic Concentrate Nickel Percent Grade Mass Pull (%) Magnetically Recoverable Nickel Grade (DTR Ni%) Drill Ended in Mineralization AN-24-02 383 1.37% 9.49 0.13 YES AN-24-03 216 1.32% 9.12 0.11 YES AN-24-04 366 1.46% 9.53 0.14 YES AN-24-05 357 1.47% 8.21 0.12 YES Note: DTR Nickel Grade (%) is a derived parameter calculated by multiplying the nickel grade of the magnetic concentrate (determined by XRF-Fusion assay) by the mass pull percentage, which is calculated by dividing the weight of the magnetic concentrate by the initial sample weight. Magnetically Recoverable Nickel (DTR Ni %) represents the amount of nickel in the sample that can be recovered using magnetic separation. For a visual explanation of the Davis Tube Recovery process, see: Table 4: AN-24-05 Drill Hole Collar Location Information Hole ID Easting (UTM) Northing (UTM) Elevation (m) Azimuth (°) Dip (°) Depth (m) AN-24-05 567322 5357995 230 90 -60 402 Figure 1: Cross-sectional view of the RPM Zone Hole AN-24-05 located 400 meters north of discovery hole AN-24-02. Showing the distribution of magnetic concentrate and DTR nickel values. Drill hole AN-24-05 averages 1.47% nickel and 1.53% chromium in continuous metallurgical DTR magnetic concentrate, with an average 8.21% Mass Pull and 0.12% DTR nickel over the 351meter interval. Figure 2: Map of the 30-kilometer-long nickel trend within the Pipestone Ophiolite Complex, illustrating the locations of Phase 1 drill holes (AN-24-01 through AN-24-05) and corresponding nickel and chromium assay results. The map highlights the spatial distribution of mineralized intercepts and outlines key target areas. Figure 3: Drill Core and Microscopic Images – AN-24-05 at 28 Meters Depth (RPM Zone). Top image: Drill core from hole AN-24-05 at 28 meters depth showing disseminated awaruite (sulfur-free nickel-iron alloy) hosted in serpentinized peridotite with associated magnetite veining. Bottom images: Microscopic images of awaruite grains from the same interval, with individual grains measuring up to 349 microns. Figure 4: Drill Core and Microscopic Images – AN-24-05 at 190 Meters Depth (RPM Zone). Top image: Drill core from hole AN-24-05 at 190 meter depth showing disseminated awaruite (a sulfur-free nickel alloy) hosted in serpentinized ultramafic peridotite within the RPM Zone. Bottom images: Microscopic images of awaruite grains from the same depth, measuring up to 732 microns. Saw blade streaks are visible across the grains, illustrating the ductile and highly-magnetic properties of awaruite. PHASE 2 DRILLING UNDERWAY TO EXPAND RPM ZONE MINERALIZATION Phase 2 drilling is actively underway at the RPM Zone, with a program strategically designed to expand the current mineralized footprint beyond the approximately 400-meter length by 500-meter width area defined by the initial Phase 1 drill holes. Strategic step-out drilling at greater depths is now actively testing further expansion of mineralization in all directions – north toward Pipestone Pond, east toward Chrome Pond, and west into the RPM fault zone. Results from drill hole AN-24-05 highlight the strong potential for further expansion, with consistent DTR grades encountered throughout the hole, ending in mineralization. These findings indicate that the mineralized awaruite system extends further north, making the area towards Pipestone Pond a high-priority target. The fully funded Phase 2 program is further supported by upgraded project infrastructure, including improved road access and expanded camp facilities. In addition, equipment optimizations have enabled deeper drilling capabilities, enhancing the Company's ability to test the full vertical and lateral extent of the mineralized system. Together, these advancements position the Phase 2 campaign to meaningfully grow the RPM Zone's known mineralized footprint across in all target directions. Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe) Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching1. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing. The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, 'The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel'3. Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining. Figure 5: Quote from USGS on Awaruite Deposits in Canada The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries. Investor Information The Company's common shares trade on the TSX Venture Exchange under the symbol 'FAN', the American OTCQB Exchange under the symbol 'FANCF' and on several German exchanges, including Frankfurt and Tradegate, under the symbol 'P21'. Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at . Stay connected and learn more by following us on these social media platforms: FOR MORE INFORMATION: First Atlantic Investor Relations Robert Guzman Tel: +1 844 592 6337 [email protected] Disclosure Adrian Smith, a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist ( Mr. Smith has reviewed and approved the technical information disclosed herein. Analytical Method & QA/QC Samples were split in half on site, with one half remaining in the core box for future reference and the other half securely packaged for laboratory analysis. The QA/QC protocol included the insertion of blanks, duplicates, and certified reference material (standards), with one QA/QC sample being inserted every 20 samples to monitor the precision and accuracy of the laboratory results. All analytical results successfully passed QA/QC screening at the laboratory, and all Company inserted standards and blanks returned results within acceptable limits. Samples were submitted to Activation Laboratories Ltd. ('Actlabs') in Ancaster, Ontario, an ISO 17025 certified and accredited laboratory operating independently of First Atlantic. Each sample was crushed, with a 250 g sub-sample pulverized to 95% – 200 mesh. A magnetic separate was then generated by running the pulverized sub-sample through a magnetic separator which splits the sub-sample into magnetic and non-magnetic fractions. This involves running a 30 g split of the pulp through a Davis Tube magnetic separator as a slurry using a constant flow rate, a magnetic field strength of 3,500 Gauss, and a tube angle of 45 degrees to produce magnetic and non-magnetic fractions. The magnetic fractions are collected, dried, weighed and the magnetic fraction is fused with a lithium metaborate/tetraborate flux and lithium bromide releasing agent and then analyzed on a wavelength dispersive XRF for multiple elements including nickel, cobalt, iron and chromium. The magnetically recovered nickel grade was then calculated by multiplying the XRF fusion nickel value by the weight of the magnetic fraction and dividing by the total recorded feed weight or magnetic mass pulled from the sample. True widths are currently unknown. However, the nickel bearing ultramafic ophiolite and peridotite rocks being targeted and sampled in the Phase 1 drilling program at the Atlantic Nickel Project are mapped as several hundred meters to over 1 kilometer wide and approximately 30 kilometers long. About First Atlantic Nickel Corp. First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6. First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-looking statements: This news release may include 'forward-looking information' under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: statements regarding: the timing, scope and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the Company's projects; and expectations regarding future developments and strategic plans; Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws. 1 2 3 4 5 6 Photos accompanying this announcement are available at: Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
02-06-2025
- Business
- Yahoo
First Atlantic Nickel to Attend Benchmark Mineral Intelligence's GIGA USA 2025 Conference, Highlighting Atlantic Nickel Project's Smelter-Free Processing for North America's Critical Minerals Supply Chain
VANCOUVER, British Columbia, June 02, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ('First Atlantic' or the 'Company') is pleased to announce its participation at the Benchmark Mineral Intelligence GIGA USA 2025 conference, taking place June 3-4, 2025, in Washington, DC. The Company will participate in strategic meetings during this critical mineral conference to demonstrate how its Atlantic Nickel Project addresses the growing need for nickel mining that can be completely processed in North America. The Atlantic Nickel Project contains nickel in the form of awaruite, a naturally occurring, sulfur-free, highly magnetic mineral with approximately 75% nickel content. These unique properties enable direct processing through magnetic separation and flotation, eliminating reliance on foreign overseas smelting or roasting operations. This simplified mineral processing method significantly lowers energy requirements and reduces environmental impacts, strengthening the development of a resilient, domestic critical minerals supply chain. The GIGA USA conference brings together key players from across the critical minerals sector for two days of networking, dealmaking, and policy discussions. Attendees include major automakers such as Tesla, Ford, General Motors, Rivian, Mercedes-Benz, and Volkswagen; battery manufacturers like LG Energy Solutions, Samsung SDI, and Panasonic Energy; and global mining companies including Rio Tinto, Vale, Glencore, South32, and Anglo American. Government representatives from the U.S. Department of Energy, U.S. Department of Commerce, U.S. Department of Defense, U.S. Department of State, the Government of Quebec, the Embassy of Canada, and the Delegation of the European Union will also attend. Conference topics will address the expansion of the United States' lithium-ion battery gigafactory industry and the need to establish secure, sustainable supply chains for critical raw materials, including lithium, nickel, graphite, cobalt, manganese and rare earth elements. The conference addresses key areas of focus including strengthening the U.S. critical minerals supply chain through domestic production and expanded gigafactory capacity, examining policy and trade impacts, such as the Inflation Reduction Act (IRA), and enhancing national security through critical mineral independence. The conference will also focus on investment and financing opportunities for next-generation mining projects, innovations in battery technology and sustainability, and the importance of global collaboration and strategic partnerships. The Company's Atlantic Nickel Project offers a secure and reliable solution for domestic nickel production. By leveraging awaruite's sulfur-free composition, high nickel content and magnetic properties, the project enables simple processing through magnetic separation and flotation without the need for secondary processing such as smelting or roasting. Unlike traditional nickel sulfide and laterite projects that undergo energy-intensive processes creating harmful waste and emissions, awaruite's metallurgical properties enable complete domestic nickel production while eliminating reliance on overseas processing. The lower energy requirements and sulfur-free nature of awaruite result in a reduced carbon and environmental footprint. The Company remains committed to strengthening North American critical minerals supply chains, with the Atlantic Nickel Project positioned to provide a secure, reliable nickel source for North American industries including electric vehicles, batteries, defense, and stainless steel manufacturing. Conference Meeting Requests First Atlantic welcomes the opportunity to meet with strategic partners, shareholders and investors during the GIGA USA 2025 conference. Interested parties are encouraged to contact Rob Guzman at rob@ or by phone at 844-592-6337 to arrange meetings. The conference takes place June 3-4, 2025 in Washington, DC. Phase 2 Drilling Update The Phase 2 drilling program is currently underway and successfully expanding the awaruite mineralization identified in multiple drill holes during the Phase 1 campaign. Technical improvements, including optimized HQ/NQ drill configurations and enhanced drill bit selection, have enabled the current program to reach greater depths than previously achieved. The Company anticipated providing updates on the Phase 2 drill holes in the coming weeks. For further information, questions, or investor inquiries, please contact Rob Guzman at First Atlantic Nickel by phone at +1-844-592-6337 or via email at rob@ Corporate Update The Company also announces that on May 21, 2025 it closed the definitive agreement dated May 6, 2025 (the 'Purchase Agreement') to acquire a 100% interest in eight mineral licenses totaling approximately 3,350 hectares. These licenses are strategically located around the Company's Atlantic Nickel Project in central Newfoundland, in the Cold Spring Pod and Coy Pond areas. Under the terms of the Purchase Agreement, the Company has issued 1,000,000 Shares at a deemed price of $0.205 per Share. These Shares are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws. And further to its May 6, 2025 news release, it closed the previously announced settlement agreement (the 'Settlement Agreement') on May 22, 2025, to settle outstanding obligations totaling $202,950 owed to an arm's length creditor (the 'Creditor') related to accounting services provided under a consulting agreement dating back to 2017. Pursuant to the Settlement Agreement, the Company has issued an aggregate of 312,500 common shares (each, a 'Share') at a deemed price of $0.32 per Share. These Shares will be released in three equal tranches over a 12-month period and are subject to a statutory hold period of four months and one day, in accordance with applicable Canadian securities laws. Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe) Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching1. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing. The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel."3 Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining. Figure 1: Quote from USGS on Awaruite Deposits in Canada The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries. Investor Information The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol 'FANCF' and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21". Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at Stay connected and learn more by following us on these social media platforms: FOR MORE INFORMATION:First Atlantic Investor RelationsRobert GuzmanTel: +1 844 592 6337rob@ Disclosure Adrian Smith, a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist ( Mr. Smith has reviewed and approved the technical information disclosed herein. About First Atlantic Nickel Corp. First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6. First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: statements regarding: the timing, scope and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the Company's projects; and expectations regarding future developments and strategic plans; Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws. 1
Yahoo
14-05-2025
- Business
- Yahoo
First Atlantic Nickel Extends Strike Length of RPM Zone Discovery by 400 Meters, Intersecting .23% Nickel Over 396 Meters in Fourth Drill Hole
VANCOUVER, British Columbia, May 14, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is excited to report assay results from drill hole AN-24-05, the fourth and final hole of the Phase 1 drilling program at the RPM Zone, located within its 100%-owned Atlantic Nickel Project in central Newfoundland. This hole, positioned as a 400-meter step-out to the north of the initial discovery hole (AN-24-02), intersected 396 meters grading 0.23% nickel and 0.29% chromium, starting after 6 meters of overburden and continuing to the end of the hole. These results confirm an initial 400-meter north-south mineralized strike length of near surface mineralization. Together with the three prior Phase 1 holes, AN-24-05 delineates a 400-meter by 500-meter mineralized footprint at the RPM zone, averaging 0.23% nickel. Notably, all Phase 1 Drill holes ended in mineralization, indicating substantial potential for further expansion. Phase 2 drilling commenced on May 7, 2025, is currently underway, targeting extensions of the RPM Zone in multiple directions: northward toward Pipestone Pond, eastward toward Chrome Pond, and westward into a fault zone, where hole AN-24-03 intersected increasing nickel grades associated with a newly discovered fault zone. Davis Tube Recovery (DTR) metallurgical test results for holes AN-24-04 and AN-24-05 are pending. Situated within the Company's 30-kilometer ultramafic ophiolite nickel trend, the RPM Zone lies 12 km south of Super Gulp Zone and 26 km south of the Atlantic Lake Zone, reinforcing the broader district-scale potential for multiple nickel discoveries across this underexplored belt. Highlights Final Phase 1 RPM Hole: Drill hole AN-24-05, a 400-meter step-out north from discovery hole AN-24-02, intersected 396 meters grading 0.23% nickel and 0.29% chromium. Mineralization began just below 6 meters of overburden and continued through the end of the hole at 402 meters, ending in mineralization. These results confirm an initial 400-meter north-south mineralized strike length at the RPM Zone. Initial 400 x 500 Meter Zone Defined: Assay results from all four Phase 1 holes confirm a 400-meter by 500-meter mineralized footprint, averaging 0.23% nickel. Importantly, each hole ended in mineralization, highlighting the potential for expansion in all directions. Consistent Awaruite Nickel Mineralization: Large-grained, visibly disseminated awaruite was observed throughout drill hole AN-24-05, consistent with all Phase 1 holes at RPM Zone. Phase 2 Drilling Commenced: The fully funded Phase 2 program, announced on May 7, 2025, is designed to test extensions of the RPM Zone in multiple directions, northward toward Pipestone Pond, eastward toward Chrome Pond, and westward into a fault zone, where drill hole AN-24-03 returned 0.27% nickel and 0.15% DTR Ni% over the final 21 meters. Metallurgical Testing Underway: Davis Tube Recovery (DTR) testing is currently underway for drill holes AN-24-04 and AN-24-05 to evaluate magnetically recoverable nickel content and assess the material's suitability for commercial-scale magnetic separation processing. District-Scale Potential: The RPM Zone lies within a 30-kilometer-long nickel trend hosted within the Pipestone Ophiolite Complex. Historic drilling at Atlantic Lake, combined with recent discoveries at Super Gulp and the RPM Zone, has confirmed the presence of awaruite mineralization in drill core across a 26-kilometer strike length within the Atlantic Nickel Project. These results underscore the significant exploration upside across the 30 km district scale system. RPM Zone: Drill Hole AN-24-05 Overview Drill hole AN-24-05, the fourth and final hole of the RPM Zone Phase 1 program, was drilled in an eastward direction, approximately 400 meters north of the initial discovery hole AN-24-02, targeting the northward extension of mineralization toward Pipestone Pond. The hole reached a depth of 402 meters, intersecting serpentinized peridotite hosting disseminated awaruite nickel mineralization after 6 meters of overburden to the end of the drill hole. Assay results returned an average of 0.23% nickel and 0.29% chromium over 396 meters, with peak values reaching 0.29% nickel and 0.55% chromium. Importantly, the hole ended in mineralization, indicating further expansion potential eastward and at depth, towards Chrome Pond. Large, visible awaruite grains were disseminated throughout AN-24-05, consistent with observations from the prior three Phase 1 holes at the RPM Zone. Collectively, Phase 1 drilling has defined a 400-meter by 500-meter mineralized zone, averaging 0.23% nickel, with continuous awaruite mineralization intersected in all four holes. As each Phase 1 hole ended in mineralization, the RPM Zone presents considerable opportunity for further expansion in all directions as part of the ongoing Phase 2 drilling program. Table 1: AN-24-05 Drilling Assay Results Hole ID From (m) To (m) Interval (m) Ni (%) Cr (%) AN-24-05 6 402 396 0.23 0.29 including 6 87 81 0.23 0.30 including 87 192 105 0.24 0.30 including 192 297 105 0.24 0.28 including 297 402 105 0.22 0.28 including "up to" 0.29 0.55 Table 2: AN-24-05 Drill Hole Collar Location Information Hole ID Easting (UTM) Northing (UTM) Elevation (m) Azimuth (°) Dip (°) Depth (m) AN-24-05 567322 5357995 230 90 -60 402 Figure 1: Map of the 30-kilometer-long nickel trend within the Pipestone Ophiolite Complex, illustrating the locations of Phase 1 drill holes (AN-24-01 through AN-24-05) and corresponding nickel and chromium assay results. The map highlights the spatial distribution of mineralized intercepts and outlines key target areas for ongoing Phase 2 drilling, including Pipestone Pond, Chrome Pond, and the RPM Zone. Phase 2 Program First Atlantic launched its fully funded Phase 2 program on May 7, 2025, employing a high-powered drill rig with NQ/HQ core capabilities to boost efficiency and depth capacity. The Phase 2 program is designed to achieve the following key objectives: Extend the 400-meter by 500-meter mineralized footprint through step-out drilling northward toward Pipestone Pond, eastward toward Chrome Pond, and westward into the fault zone, where AN-24-03 intersected 0.27% nickel and 0.15% DTR Ni% over its final 21 meters. Explore deeper mineralization to increase the vertical extent and overall volume of the RPM Zone. Assess geological continuity between RPM, Pipestone, and Chrome Pond, with the aim of outlining a larger, interconnected mineralized system. Conduct systematic prospecting across the 30-kilometer ultramafic ophiolite trend to identify additional awaruite targets. Phase 2 drilling aims to expand on the Phase 1 discovery at the RPM Zone, which established an initial mineralized area at-least 400 meters in strike length and 500 meters in lateral width. Strategic step-out drilling in all directions and targeting greater depths will test the expansion potential of the RPM Zone. Enhanced by full road access and a more powerful drill rig, Phase 2 is expected to achieve significant cost efficiencies and faster drilling 2: Phase 2 drilling plan map highlighting the RPM drilling zone area (circled in green), showing the Phase 1 discovery hole locations, which defined mineralization over at least a 400-meter by 500-meter area and remains open for expansion in multiple directions. Figure 3: RPM Hole 4 Drill Core (AN-24-05) at 190 meters depth. Top image: Drill core showing disseminated awaruite (sulfur-free nickel alloy), in serpentinized ultramafic peridotite within the RPM Zone. Bottom images: Awaruite grains from 190 meters depth (up to 732 microns) under microscope, with saw blade streaks visible due to ductile, highly-magnetic nature of awaruite. Figure 4: RPM Hole 4 (AN-24-05) drill core, at 28 meters depth. Top image: Disseminated awaruite (sulfur-free nickel alloy) in serpentinized peridotite with magnetite veins. Bottom images: Awaruite grains (up to 349 microns) under a microscope at 28 meters 5: RPM Hole 4 Drill Core (AN-24-05) at 401 meters depth. Top image: Abundant, visibly disseminated awaruite grains (typically 50-100 microns, with some up to 323 microns). Bottom image: Awaruite grains from RPM DDH004 at 401 meters depth under a microscope, showing grains well above 10-micron size required for effective magnetic separation and recovery. Metallurgical Program Davis Tube Recovery (DTR) testing is underway for drill holes AN-24-04 and AN-24-05, the third and fourth RPM Zone holes, to quantify magnetically recoverable nickel and confirm suitability for commercial-scale magnetic separation. Initial DTR results from Phase 1 holes AN-24-02 and AN-24-03 produced magnetic concentrates averaging ~1.35% nickel with a ~9.5% mass pull and magnetically recoverable nickel grades averaging ~0.12% (ranging from 0.10% to 0.16%). These findings, paired with large-grain awaruite (up to 1,000 microns), support a low-energy, smelter-free processing flowsheet using magnetic separation, followed by flotation, to yield a high-grade nickel concentrate. Pending DTR results for AN-24-04 and AN-24-05 are expected to further refine the Company's metallurgical approach, aligning with sustainable development objectives and North America's critical minerals strategy. Corporate Update The Company also announces that all the resolutions considered at its Annual General and Special Meeting held on May 13, 2025 (the "Meeting") were approved by the Company's shareholders. At the Meeting, the Company's shareholders approved the following resolutions: fixing the number of directors comprising the Company's board of directors (the 'Board') for the ensuing year at three (3); electing Adrian Smith; Kostantinos Tsoutsis and Mike Collins as directors of the Company, each to hold office until the close of the next annual meeting of shareholders or until their successors are elected or appointed; re-appointing Dale Matheson Carr Hilton Labonte LLP, Chartered Professional Accountants as the auditor of the Company for the ensuing year and authorizing the Board to fix the auditors remuneration; approving certain amendments to the Company's Omnibus Long Term Incentive Plan to align with the policies of the TSX Venture Exchange. Further details regarding the resolutions are available in the Company's management information circular, dated April 7, 2025, which can be found under the Company's SEDAR+ profile at The Company also announces that Mr. Sang Goo (Collin) Kim and Mr. Ken KM Chung did not stand for re-election to the Board. First Atlantic extends its sincere appreciation to Mr. Kim and Mr. Chung for their dedicated service and valuable contributions to the Company. We wish them continued success in all their future endeavors. Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe) Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching1. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing. The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel"3. Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel 6: Quote from USGS on Awaruite Deposits in Canada The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries. Investor Information The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol 'FANCF' and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21". Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at Stay connected and learn more by following us on these social media platforms: FOR MORE INFORMATION:First Atlantic Investor RelationsRobert GuzmanTel: +1 844 592 6337rob@ Disclosure Adrian Smith, a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist ( Mr. Smith has reviewed and approved the technical information disclosed herein. Analytical Method & QAQC Samples were split in half on site with one half remaining in the core box for future reference and one half packaged in secure bags. QAQC method included the use of blanks, duplicates and certified reference material (standards) with one being inserted once in every 20 samples in order to test the precision and accuracy of the lab. All results passed the QA/QC screening at the lab, and all company inserted standards and blanks returned results that were within acceptable limits. Samples were sent to SGS Canada in Lakefield, ON. SGS is an ISO 17025 certified lab, accredited and acting independently from First Atlantic Nickel Corp. Each sample is pulverized to 95% passing 74 microns (200 mesh). A 30g sub-sample is passed through a Davis Tube to separate the sub-sample into magnetic and non-magnetic fractions. Both the whole rock sample and the magnetic fraction are analyzed by sodium peroxide fusion with ICP-AES finish for major oxides and trace elements including nickel, chromium and cobalt. One in ten samples are tested for sulphur content. True widths are currently unknown. However, the nickel bearing ultramafic ophiolite and peridotite rocks being targeted and sampled in the Phase 1 drilling program at the Atlantic Nickel Project are mapped as several hundred meters to over 1 kilometer wide and approximately 30 kilometers long. About First Atlantic Nickel Corp. First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6. First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: expectations regarding the timing, scope, and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the potential for Newfoundland and Labrador to emerge as a clean energy leader; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the province's geological features in supporting the clean energy transition, statements regarding the results of the Meeting; expectations regarding future developments and strategic plans; the composition and role of the board of directors. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. ___________________________ 1 Photos accompanying this announcement are available at:
Yahoo
01-05-2025
- Business
- Yahoo
First Atlantic Nickel Featured in Article Highlighting Hydrogen Potential of Newfoundland and Labrador Nickel Deposits
VANCOUVER, British Columbia, May 01, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") a Canadian mineral exploration company focused on developing its 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in central Newfoundland, Canada, is pleased to be featured in a recent article published by the Telegram, which explores the province's emerging role in the global hydrogen economy. The article, titled 'Two-pronged cache: Mining company excited about hydrogen potential in NL nickel deposits', published on April 30, 2025, explores how Newfoundland and Labrador's rich nickel resources could contribute meaningfully to the global transition to clean energy, particularly through the production of green hydrogen. Nickel plays a vital role in hydrogen production technology, and Newfoundland and Labrador's nickel-rich geology positions the province as a natural contributor to global decarbonization goals. Additionally, the article notes that ophiolites are globally recognized as prime sources of geologic hydrogen, created through natural processes as minerals within them interact. 'Some of the most significant geologic hydrogen discoveries in the world occur in ophiolites,' the article states. Dr. Yaoguo Li of the Colorado School of Mines further explains, 'Geologic hydrogen systems are a combination of mineral systems and natural gas systems,' emphasizing the complex and promising nature of this resource. 'Nickel is not just for batteries anymore, it may be the key to unlocking cleaner, more scalable hydrogen technologies,' the article notes, referencing the growing momentum behind hydrogen and nickel synergy. The full article can be accessed here: 'We are proud to see Newfoundland and Labrador's mineral potential gaining international attention, particularly in the context of hydrogen and clean energy,' said Adrian Smith, CEO of First Atlantic. 'This recognition reinforces the long-term strategic value of our nickel exploration and development efforts.' Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe) Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching1. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing. The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel"3. Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining. Quote from USGS on Awaruite Deposits in Canada The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries. Investor Information The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol 'FANCF' and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21". Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at Stay connected and learn more by following us on these social media platforms: FOR MORE INFORMATION:First Atlantic Investor RelationsRobert GuzmanTel: +1 844 592 6337rob@ Disclosure Adrian Smith, is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist ( Mr. Smith has reviewed and approved the technical information disclosed herein. Analytical Method & QAQC Samples were split in half on site with one half remaining in the core box for future reference and one half packaged in secure bags. QAQC method included the use of blanks, duplicates and certified reference material (standards) with one being inserted once in every 20 samples in order to test the precision and accuracy of the lab. All results passed the QA/QC screening at the lab, and all Company inserted standards and blanks returned results that were within acceptable limits. Samples were sent to Activation Laboratories Ltd. ('Actlabs') in Fredericton, NB. Actlabs is an ISO 17025 certified lab, accredited and acting independently from First Atlantic. Each sample was crushed, with a 250 g sub-sample pulverized to 95% - 200 mesh. A portion of the sample is fused with a lithium metaborate/tetraborate flux and analyzed by ICP-OES for major oxides and elements including cobalt, chromium and nickel. A magnetic separate is then generated by running the pulverized sub-sample through a magnetic separator which splits the sub-sample into magnetic and non-magnetic fractions. This involves running a 30 g split of the pulp through a Davis Tube magnetic separator as a slurry using a constant flow rate, a magnetic field strength of 3,300 Gauss, and a tube angle of 45 degrees to produce magnetic and non-magnetic fractions. The magnetic fractions are collected, dried, weighed and the magnetic fraction is fused with a lithium metaborate/tetraborate flux and lithium bromide releasing agent and then analyzed on a wavelength dispersive XRF for multiple elements including nickel, cobalt, iron and chromium. The magnetically recovered nickel grade was then calculated by multiplying the XRF fusion nickel value by the weight of the magnetic fraction and dividing by the total recorded feed weight or magnetic mass pulled from the sample. True widths are currently unknown. However the nickel bearing ultramafic ophiolite and peridotite rocks being targeted and sampled in the Phase 1 drilling program at the Atlantic Nickel Project are mapped as several hundred meters to over 1 kilometer wide and approximately 30 kilometers long. About First Atlantic Nickel Corp. First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6. First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, expectations regarding the timing, scope, and results from the Phase 1 work and drilling program; results from the Phase 2 work and drilling program, future project developments, the Company's objectives, goals or future plans, statements, and estimates of market conditions. Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. ________________________________________________________ 1 A photo accompanying this announcement is available at: in to access your portfolio
