Gochager Lake Property

Our ProjectsProject Overview

Combined, Fathom Nickel Inc.’s two properties in Saskatchewan consist of 66 individual mineral claims totaling 113,080 Ha. Saskatchewan is consistently ranked within the top 5 jurisdictions in the world to conduct mineral exploration by the Fraser Institute. Both properties; the Albert Lake and Gochager Lake properties fall within the highly prospective Trans Hudson Orogeny (Corridor). The Trans Hudson Corridor defines a Proterozoic suite of geology (1.8 Ma), that trends north from North Dakota (US), through Saskatchewan where it veers east to include Northern Manitoba, and across Hudson’s Bay to include the Ungava Peninsula, PQ, from where it continues into Greenland. Coincident with the Trans Hudson Corridor are the world-class Thompson Nickel Belt, MN (in production), the Lynn Lake Nickel Belt (past producer), and the Raglan Nickel Belt, PQ (in production). Ironically, the province of Saskatchewan is vastly underexplored for nickel and Fathom with two highly prospective nickel projects is in position to take advantage of this opportunity and demonstrate that the province of Saskatchewan can host “world-class” nickel camps similar to Manitoba and Quebec.

Gochager Lake Property

The Gochager Lake property, consists of 34 contiguous mineral claims totalling 22,620 hectares.

The location of the Gochager Lake property is very near to the border of the interpreted Rottenstone and La Ronge Domains and like at Albert Lake property, both domains are within the Trans Hudson Corridor. The Gochager Lake property consists of 35 contiguous mineral claims totaling 22,260 Ha. The property is host to the historic Gochager Lake nickel-copper-cobalt deposit (estimated to be 4,262,400 tons grading 0.295% Ni and 0.081% Cu*), the Mal Lake nickel occurrence (drilling in 1967 defined nickel mineralization of 1.11% Ni, 0.24% Cu / 7.9 meters (including 1.62% Ni, 0.30% Cu / 1.4m) **), and the Borys Lake VMS, zinc-lead-copper deposit (1,336,500 tons grading 1.91% combined zinc and lead***).

The Gochager Lake deposit;, defined by drilling 1967-1970 is a magmatic nickel sulphide type deposit hosted within a differentiated gabbro – metagabbro unit. Historic drilling: specifically, drillhole I-12 (drilled 1967), reported grades of; 0.581% Ni, 0.113% Cu over a width of 290.4 meters. Two drillholes drilled in 2018 confirmed the presence of semi-massive to massive sulphide mineralization within the historic deposit. This is critical as it provided very good evidence that borehole electromagnetic surveys (BHEM) can be utilized at the Gochager Lake property. Along with the Option Agreement on the original Gochager Lake property and the acquisition of the Watts Lake property came very valuable historical data, notably airborne geophysical data. From this data, interpretation is on going, the Company is developing several exploration models and targets.

Primary Exploration Targets

The Gochager Lake property, consists of 34 contiguous mineral claims totalling 22,620 hectares.

The Gochager Lake Deposit

Fathom drilled 2 drillholes in February 2023 and for the very first time utilized BHEM surveys at the property. The Company was able to probe with BHEM both drillholes drilled, plus 3 historic drillholes drilled in 1989 and 2 drilled in 2018. The Company announced drill hole intercepts from drillhole GL23003: 1.49% Ni, 0.38% Cu, 0.11% Co, 0.07 g/t 3PE / 58.20 meters (including 2.43% Ni, 0.51% Cu, 0.18% Co, 0.06 g/t 3PE / 18.10 meters). These intervals were dominated by a semi-massive to massive style of magmatic nickel sulphide mineralization and as expected generated very, very robust in-hole and off-hole BHEM responses. A BHEM survey of historic drillhole GL18002 suggests a very robust off-hole anomaly / conductor to the left and below GL18002 suggesting possible semi-massive to massive sulphide mineralization occurring outside of the known historic boundaries of the Gochager Lake deposit. Drillholes GL23003, GL23004 plus historic drillholes 89-3 and GL18001 and GL18002 all produced very significant and very complex in-hole and off-hole BHEM responses which suggests some potential width / size to the semi-massive to massive sulphide mineralization intersected in GL23003. Localized, high-grade 3PE mineralization was intersected at similar downhole depths in GL23003 and GL23004 (28.23 g/t / 0.70m; 1.36 g/t m respectively). Fathom does not fully understand but is very encouraged that high-grade 3PE mineralization does occur within the historic Gochager Lake deposit. A second round of BHEM surveys was performed in June-July 2023 along with a surface time domain electromagnetic survey (TDEM) over top the Gochager Lake deposit area. The additional BHEM surveys provided an enhanced understanding of the geometry and orientation of the multiple off-hole anomalies and the surface survey outlined extensions along strike of the historic Gochager Lake deposit along with other distal conductive areas.

Drillhole GL23003: 2.31% Ni, 0.55% Cu, 0.17% Co / 15.55m (135.55 – 149.30m)
Drillhole GL23003 at 144.0 meters – disseminated, coarse-grained pentlandite (lighter shade (pn)) in pyrrhotite host.
Fathom will be conducting a 5-6-drillhole, approximate 2,000-meter program in September 2023 designed to test the up and down plunge extensions of mineralization intersected in GL23003. It is the Companies intension to drill the historic Gochager Lake deposit along strike and to depth with a 10,000-meter drill program in Q1-2024.

The Mal Lake Nickel Occurrence

Drilling in 1967 defined nickel mineralization of 1.11% Ni, 0.24% Cu / 7.9 meters (including 1.62% Ni, 0.30% Cu / 1.4m). No drilling or exploration has occurred at the occurrence since 1967. Nickel, copper mineralization occurs in similar rock type as at the Gochager Lake deposit. Mal Lake is 10 kilometers southeast of the Gochager Lake deposit. Ahead of planned drilling at Mal Lake, Fathom will perform a surface EM survey over this area and then position drillholes across the know extent of the mineralization. Planned drillholes will confirm the Ni-Cu and anticipated Co mineralization and importantly provide platforms for further BHEM surveying.

The Borys Lake VMS Zinc-Copper Deposit

Fathom’s geophysical consultants have recognized a “plethora” of Gochager Lake deposit-like geophysical signatures within a 2008 VTEM survey covering the Gochager Lake deposit area but many of these signatures were outside of the original Gochager Lake Option Agreement; hence SKRR Exploration was approached and the companies have completed the transfer of the Watts claims from SKRR to Fathom. Within the Watts Lake claims occurs the Borys Lake VMS deposit and VMS trend. Fathom has acquired all data associated with the Watts Lake property and the Borys Lake Zn-Pb-Cu deposit and is conducting internal compilation and evaluation of the database. A 1972 mineral reserve estimate suggests the Borys Lake deposit occurs within a 975-meter strike, widths of 5-20 meters and depth of 30 meters: measuring, 1,336,500 tons grading 1.91% combined zinc and lead. The Companies immediate and continued focus will be the nickel potential of the expanded Gochager Lake property. However; geologically, it is very encouraging and not unique to have a VMS-type of mineralizing event proximal to magmatic nickel sulfide type occurrences and deposits.

Other Targets

Fathom has developed a multi-discipline exploration model.

Initial lithostructural/geophysical interpretation of an area covered by the 2008 VTEM survey has delineated thirteen high-priority target areas that fall within the current Gochager Lake property. Nine of these targets fall within an identified Major Fault system which we recognize the Gochager Lake deposit to be associated with. These targets represent the very first time anyone has performed follow-up exploration based on the results of the 2008 VTEM survey. In addition to first ground truthing these recommended targets, Fathom will design surface geochemistry, geological mapping and prospecting and surface geophysical programs to better define these targets ahead of diamond drilling.
  • * The Saskatchewan Mineral Deposit Index (SMID#0880) reports drill indicated reserves at the historic Gochager Lake Deposit of 4,262,400 tons grading 0.295% Ni and 0.081% Cu mineable by open pit. Fathom cannot confirm the resource estimate, nor the parameters and methods used to prepare the reserve estimate. The estimate is not considered NI43-101 compliant and further work is required to verify this historical drill indicated reserve.
  • ** Data is from Saskatchewan Mineral Deposit Index (SMDI# 0836)
  • *** Data reported in Saskatchewan Energy and Mines report (Base Metals in Saskatchewan, 1991). Fathom treats this reserve calculation as relevant but historic. Fathom cannot confirm the resource estimate, nor the parameters and methods used to prepare the reserve estimate. The estimate is not considered NI43-101 compliant and further work is required to verify this historical drill indicated reserve.

View In-Depth Geological Data About The Gochager Lake Project2024 Investor Presentation

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