VANCOUVER, British Columbia, Dec. 04, 2024 (GLOBE NEWSWIRE) — First Atlantic Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) (“First Atlantic” or the “Company”) is happy to announce the collection of a brand new, safe, drill core processing and storage facility in Grand Falls-Windsor, NL, marking a big step within the Firm’s operational enlargement.
The brand new facility will change the present non permanent tent construction, providing a long-term, year-round answer for drill core processing and storage. This transfer will assist ongoing actions associated to Section 1 drilling on the Atlantic Nickel Mission, the place cores are reduce, logged, photographed, and ready for assays and metallurgical testing. Updates are anticipated quickly as Section 1 drill cores proceed to be processed.
Situated inside 50 km of the Atlantic Lake Property, the brand new facility is at present receiving drill cores from Section 1 drilling. This strategic location helps present operations whereas providing scalability for future district-scale, multi-zone drill packages alongside the 30 km nickel pattern.
Section 2 drilling allow functions have been submitted in Newfoundland and Labrador, a jurisdiction famend for its assist of the mining sector and streamlined allowing course of, the place earlier permits have been granted inside roughly a one month interval. The brand new facility is designed to facilitate a seamless and environment friendly transition into the deliberate expanded Section 2 Drill program, enhancing the operational capability and readiness of the Atlantic Nickel Mission.
This facility will serve a number of functions:
Drill Core Processing & Storage: Devoted facility for the processing and storage of drill core from ongoing and future drilling.
Operational Hub: It’ll act as a company base for Newfoundland operations, internet hosting strategic conferences and offering an workplace presence the place technical employees will probably be primarily based.
Gear Storage: The ability will home needed tools for on-site testing, together with XRF machines, core saws, cameras, and microscopes.
Metallurgical Testing: It’ll additionally retailer rock take a look at materials for future metallurgical take a look at work.
The drill core from the Atlantic Nickel Mission will probably be processed at this location, making certain high-quality knowledge assortment and evaluation.
Adrian Smith, P.Geo., CEO of First Atlantic, commented, “This facility is a pivotal part of our strategy to expand and enhance our exploration program. It supports our commitment to exploring and developing the potential of our properties in Newfoundland, leveraging the region’s supportive mining environment.”
Determine 1: Drill core from part 1 program, beforehand logged and saved on the non permanent undertaking tent on the Atlantic Nickel Mission.
Determine 2: Section 1 drill core being ready for cargo from the non permanent undertaking core-logging tent.
Determine 3: New year-round drill core processing facility in Grand Falls-Windsor, Newfoundland.
Overview of Ongoing RPM Discovery (NASDAQ:)
The RPM Zone, a high-priority goal inside the massive 30 km ultramafic physique of the Pipestone Ophiolite Complicated, was found by First Atlantic geologists Dr. Ron Britten, Pearce Bradley, and Michael Piller through the 2024 exploration program. The zone’s closely weathered outcrop, seen in satellite tv for pc imagery, caught the geologists’ consideration throughout a district-scale sampling program. Float samples from the realm revealed vital large-grain awaruite mineralization. The invention space spans roughly 2.6 km in size and 400 to 600 meters in width and is characterised by a powerful magnetic anomaly. Situated 25 km south of historic drilling at Atlantic Lake and 10 km south of the Tremendous Gulp discovery, the RPM Zone represents a key growth within the exploration program.
The primary drill gap on the RPM Zone, reaching a depth of 394 meters, intersected seen disseminated nickel-iron alloy (awaruite) mineralization from floor to backside. Notably, the awaruite grains, seen to the bare eye, elevated in dimension with depth, usually exceeding 25 microns, with many grains surpassing 500 microns – effectively above the 10-micron threshold for efficient magnetic separation. XRF evaluation confirmed low ranges of sulphur, nickel, and chromium all through the drill gap. Samples at the moment are being ready for assay, with outcomes anticipated within the coming months.
The importance of the RPM Zone lies in its spectacular mineralization and potential for cost-effective mining. Drilling revealed closely fractured, damaged, and sheared serpentinized nickel host rock, which can allow lower-cost preliminary mining strategies, similar to ripping, moderately than typical drilling and blasting. With mineralization open at depth, ongoing drilling goals to additional outline and develop the mineralized space. The coarse awaruite grains, seen to the bare eye, enhance in dimension downhole, beginning at as much as 200 microns and exceeding 500 microns in coarser zones. Seen disseminated awaruite was noticed from floor to 394 meters, with the drill gap ending in zones of coarser-grained mineralization. This groundbreaking discovery, a testomony to the experience of the geological group, has solidified the RPM Zone as a prime precedence for exploration and evaluation in First Atlantic’s ongoing program.
Atlantic Nickel Mission – Company VideoPlease go to https://www.fanickel.com/KGQo3TTyn0Q to view the latest company video from First Atlantic Nickel, that includes CEO Adrian Smith on the Atlantic Nickel Mission with footage of RPM Drill Gap 1.
Awaruite (Nickel-iron alloy Ni ‚‚Fe, Ni ‚ƒFe)Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni ‚ƒFe or Ni ‚‚Fe with roughly ~75% nickel content material, affords a confirmed and environmentally safer answer to reinforce the resilience and safety of North America’s home crucial minerals provide chain. In contrast to typical nickel sources, awaruite will be processed into high-grade concentrates exceeding 60% nickel content material by means of magnetic processing and easy floatation with out the necessity for smelting, roasting, or excessive stress acid leaching1. Starting in 2025, the US Inflation Discount Act’s (IRA) $7,500 electrical automobile (EV) tax credit score mandates that eligible clear automobiles should not comprise any crucial minerals processed by overseas entities of concern (FEOC)2. These entities embrace Russia and China, which at present dominate the worldwide nickel smelting business. Awaruite’s smelter-free processing strategy might probably assist North American producers meet the IRA’s stringent crucial mineral necessities and scale back dependence on FEOCs for nickel processing.
The U.S. Geological Survey (USGS) highlighted awaruite’s potential, stating, “The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel3.” Â Awaruite’s distinctive properties allow cleaner and safer processing in comparison with typical sulfide and laterite nickel sources, which regularly contain smelting, roasting, or high-pressure acid leaching that may launch poisonous sulfur dioxide, generate hazardous waste, and result in acid mine drainage. Awaruite’s less complicated processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these dangerous strategies, lowering greenhouse fuel emissions and dangers related to poisonous chemical launch, addressing issues concerning the massive carbon footprint and poisonous emissions linked to nickel refining.
Determine 4: Quote from USGS on Awaruite
The event of awaruite sources is essential, given China’s management within the international nickel market. Chinese language corporations refine and smelt 68% to 80% of the world’s nickel4 and management an estimated 84% of Indonesia’s nickel output, the most important worldwide supply5. Awaruite is a cleaner supply of nickel that reduces dependence on overseas processing managed by China, resulting in a safer and dependable provide for North America’s chrome steel and electrical automobile industries.
Investor Data                Â
The Firm’s widespread shares commerce on the TSX Enterprise Trade beneath the image “FAN,” the American OTCQB Trade beneath the image “FANCF” Â and on a number of German exchanges, together with Frankfurt and Tradegate, beneath the image “P21.”
https://x.com/FirstAtlanticNihttps://www.fb.com/firstatlanticnickelhttps://www.linkedin.com/firm/firstatlanticnickel/
Disclosure
Adrian Smith, P.Geo., is a professional individual as outlined by NI 43-101. The certified individual is a member in good standing of the Skilled Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered skilled geoscientist (P.Geo.). Mr. Smith has reviewed and accepted the technical data disclosed herein.
About First Atlantic Nickel Corp.
First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration firm growing the 100%-owned Atlantic Nickel Mission, a large-scale nickel deposit strategically positioned close to current infrastructure in Newfoundland, Canada. The Mission’s nickel happens as awaruite, a pure nickel-iron alloy containing roughly 75% nickel with no-sulfur and no-sulfides. Awaruite’s properties permit for smelter-free magnetic separation and focus, which might strengthen North America’s crucial minerals provide chain by lowering overseas dependence on nickel smelting. This aligns with new US Electrical Automobile US IRA necessities, which stipulate that starting in 2025, an eligible clear automobile might not comprise any crucial minerals processed by a FEOC (Overseas Entities Of Concern)6.
First Atlantic goals to be a key enter of a safe and dependable North American crucial minerals provide chain for the chrome steel and electrical automobile industries within the USA and Canada. The corporate is positioned to satisfy the rising demand for responsibly sourced nickel that complies with the crucial mineral necessities for eligible clear automobiles beneath the US IRA. With its dedication to accountable practices and skilled group, First Atlantic is poised to contribute considerably to the nickel business’s future, supporting the transition to a cleaner power panorama. This mission gained significance when the US added nickel to its crucial minerals record in 2022, recognizing it as a non-fuel mineral important to financial and nationwide safety with a provide chain weak to disruption.
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this launch.
Ahead-looking statements:
The Firm is presently an exploration stage firm. Exploration is extremely speculative in nature, entails many dangers, requires substantial expenditures, and will not outcome within the discovery of mineral deposits that may be mined profitably. Moreover, the Firm at present has no reserves on any of its properties. In consequence, there will be no assurance that such forward-looking statements will show to be correct, and precise outcomes and future occasions might differ materially from these anticipated in such statements. Â
Images accompanying this announcement can be found at
Drill core from part 1 program, beforehand logged and saved on the non permanent undertaking tent on the Atlantic Nickel Mission
Drill core from part 1 program, beforehand logged and saved on the non permanent undertaking tent on the Atlantic Nickel Mission
Section 1 drill core being ready for cargo from the non permanent undertaking core-logging tent.
Section 1 drill core being ready for cargo from the non permanent undertaking core-logging tent.
New year-round drill core processing facility in Grand Falls-Windsor, Newfoundland.
New year-round drill core processing facility in Grand Falls-Windsor, Newfoundland.
Quote from USGS on Awaruite
Quote from USGS on Awaruite
Supply: First Atlantic Nickel Corp.
Enterprise
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