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.
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.
- * 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.