First Atlantic Nickel Initiates Promising Drilling at New Project

Drilling Begins at Atlantic Nickel Project

First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) has marked a significant milestone by commencing drilling at its fully owned Atlantic Nickel Project. With a dedicated focus on exploring this multi-zone, district-scale opportunity, the company is enthusiastic about the recent discoveries made during their summer sampling program across a 30 km trend. This sampling phase revealed substantial new zones of visible awaruite, a naturally occurring nickel-alloy.

Exploring New Nickel Targets

As the drilling campaign kicks off, it aims to assess several high-priority nickel targets that have remained unexplored until now. The extensive areas exhibit remarkable geophysical and geochemical signatures, suggesting the likelihood of multiple mineralized systems. Preliminary assessments of these areas indicate potential volumes of nickel-rich deposits ranging from 500 million to over 1 billion tonnes.

High-Priority Discoveries

Among the notable discoveries are the RPM and Super Gulp zones, which revealed multiple outcrops rich in awaruite. These findings extend significant surficial occurrences approximately 25 km, which boosts confidence in the project's potential. The Super Gulp zone is located about 4 km south of Gulp Pond and approximately 20 km from previous drilling in the Atlantic Lake Zone. Meanwhile, the RPM zone lies around 25 km south of Atlantic Lake close to the Chrome Pond showing, previously noted for its high chromium values.

The Impact of Awaruite

Awaruite, a nickel-iron alloy, is pivotal for the project. It contains approximately 77% nickel, allowing for a smelter-free magnetic separation process that could reshape North America's critical minerals supply chain. With the upcoming regulations related to electric vehicles and critical minerals, the ability to process awaruite using domestic resources without foreign dependency is of great significance.

The Drilling Program: A Closer Look

The initial drill program is tailored to focus on areas featuring visible awaruite concentrations. Targeting these high-priority areas, the drillers plan to assess the bulk tonnage potential of the nickel mineralization spread across the large-scale ultramafic sequence. The methodologies deployed in drilling aim at identifying significant occurrences of nickel over a vast area, provided by the extensive geological insights obtained from the recent sampling initiatives.

Expanded Target Zones

From the recent sampling program, several notable awaruite-bearing nickel zones emerged, such as the Atlantic Lake, Gulp Pond, Super Gulp, and RPM Zone. These discoveries are pivotal in planning the upcoming drilling stages, as the company strives to efficiently exploit the identified areas.

Project Potential and Environmental Considerations

Awaruite represents an environmentally favorable solution for alleviating the current nickel supply constraints. Unlike traditional nickel extraction methods, the processing of awaruite does not necessitate smelting, which is crucial given the limited nickel smelting facilities in North America. The project aligns with the objectives set forth in the U.S. Inflation Reduction Act, emphasizing the need for materials sourced or processed within friendly trade jurisdictions.

Looking Ahead: The Mission of First Atlantic Nickel

First Atlantic Nickel is dedicated to bolstering North America's critical minerals supply chain. The company positions itself as a vital player in the search for responsible nickel sources suitable for the stainless steel and electric vehicle sectors. Adrian Smith, CEO of First Atlantic, expresses excitement regarding their progress, marking an integral step toward a resilient and secure nickel supply for North America.

Contact for Investor Inquiries

For additional information and investor inquiries, interested parties may reach out to Rob Guzman at First Atlantic Nickel Corp. by dialing +1 844 592 6337 or via email at rob@fanickel.com.

Frequently Asked Questions

1. What is Awaruite?

Awaruite is a nickel-iron alloy known for its high nickel content and unique properties that allow for smelter-free processing.

2. Why is the Atlantic Nickel Project important?

The project aims to contribute significantly to North America's critical minerals supply chain by providing a domestic source of nickel while reducing reliance on foreign suppliers.

3. What are the goals of the current drilling campaign?

The drilling campaign seeks to explore high-priority nickel targets that have not been previously drilled to assess their potential for bulk tonnage nickel deposits.

4. How does awaruite processing align with environmental goals?

Processing awaruite eliminates the need for smelting, thus minimizing greenhouse gas emissions and reducing the environmental impact typically associated with traditional nickel refining.

5. How can investors stay updated on First Atlantic Nickel's progress?

Investors can sign up for updates via email or visit the company's website for the latest news.

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