- Fathom Nickel (FNI) has acquired the Tremblay-Olson Ni-Cu+PGE Showing
- Fathom bought 100 per cent of the Tremblay-Olson Showing claims, totalling 315 Ha
- The company bought the claims in exchange for a 2 per cent NSR royalty
- Fathom can buy back 1.0% of the NSR for a one-time cash payment of $1,000,000
- Fathom is a resource exploration and development company that is targeting high-grade nickel sulphide discoveries for use in the rapidly growing global electric vehicle market
- Fathom Nickel Inc. was down 5.56 per cent, trading at $0.17 at 11:56 ET
Fathom Nickel (FNI) has acquired the Tremblay-Olson Ni-Cu+PGE Showing.
Fathom bought 100 per cent of the Tremblay-Olson Showing claims, totalling 315 Ha, from Eagle Plains Resources Ltd. in exchange for a 2 per cent net smelter return (NSR) royalty.
The agreement stipulates that Fathom has the right to purchase back 1.0 per cent of the NSR for a one-time cash payment of $1,000,000.
With the acquisition of the Tremblay-Olson Showing claims, the Albert Lake Property now consists of 31 claims totalling 91,545 Ha.
The company noted that the significance of this acquisition for Fathom is twofold.
“Firstly, the Tremblay-Olson Showing represents the final piece of mineral tenure within the Albert Lake block – Fathom is now the 100 per cent owner of the entire land package,” said Brad Van Den Bussche, CEO of Fathom.
“Secondly, the claims contain known mineralized occurrences including the surface-exposed Tremblay-Olson Showing, which will be a prioritized exploration target moving forward,” he added
The Tremblay-Olson Showing refers to an ultramafic hosted Ni-Cu+PGE showing 2.4 km southwest of the historic Rottenstone Mine. Similar to the historic Rottenstone Mine, there is a long history of exploration within the Tremblay-Olson Showing area.
Fathom is a resource exploration and development company that is targeting high-grade nickel sulphide discoveries for use in the rapidly growing global electric vehicle market.
Fathom Nickel Inc. was down 5.56 per cent, trading at $0.17 at 11:56 ET.
