Fathom Nickel Inc. announce the recent receipt of all necessary permits to continue exploration activity at the Company's Gochager Lake project. The exploration permit allows the Company to: Drill up to 60 drillholes. Construct and utilize an all season 25-person camp. Utilize temporary "fly camps" during summer-fall field season to conduct site specific, airborne geophysical anomaly follow-up, mapping and prospecting, soil geochemistry, and site-specific geophysical surveys. To do necessary line-cutting ahead of surface geophysical surveys. Prepare necessary ground and ice trails to facilitate the movement of drilling equipment. The new exploration permit is valid for a two-year period, expiring July 31, 2026. The company report that exploration field activities have commenced at the Gochager Lake project. Field crews were mobilized last week and will be utilizing a temporary fly camp located at the Gochager Lake deposit area to conduct: The Company is confident can define a soil geochemical signature associated with the Gochager Lake deposit and utilize this signature to expand Gochager and find additional Gochager-like deposits. Detailed mapping, prospecting and soil geochemical sampling will occur in areas of conductivity defined through surface time domain electromagnetic surveys ("TDEM") performed in 2023-2024
(Figure 2). The team will focus on identifying and mapping the strike extent of the favourable gabbro host-rock and defining other favourable gabbro rock outside of the historic deposit area. Field crews are expected to complete the field program by June 30, 2024. The drone-MAG survey will provide much higher resolution MAG data in comparison to the VTEM survey completed in 2008. Drone-MAG data will be flown at 30m line spacing compared to 100-200m VTEM line spacing. The Drone-MAG data will be collected from approximately 30-35 meters above surface compared to 60-65m collection height of the 2008 VTEM data. The Company has awarded the contract to Tuzo
Geosurveys and looks forward to working with and interpreting this high-resolution data set in the historic Gochager Lake deposit area. They are confident this type of survey will prove very useful in quest to define the extent of the gabbro host-rock at the Gochager deposit as well as, going forward, discover other magmatic nickel sulphide deposits within the 22,000-hectare Gochager Lake property. High-resolution data provides a clearer picture of the magnetic properties of the various intrusive rocks at Gochager and expect to better define the magnetic properties associated with the high-grade Ni-Cu-Co bearing semi-massive to massive sulphides have intersected by drilling.