”This Thing is Wide Open”: CEO Ian Fraser Discusses Fathom Nickel’s 2023 Drill Campaign Results

https://discord.gg/fa8WtMq78R

CEO Ian Fraser sat down with me again to discuss the results from Fathom's 2023 drill campaign on its Gochager Lake project. The market responded with disappointment as it was expecting ultra high-grade (and this market is swift to punish these days), but I believe there remains a lot of positives to be found in this campaign. Most importantly, it doesn't shut the door on Gochager's potential, but rather has provided Fathom with more critical data points to finetune their exploration process. Mineral exploration is a deeply iterative process, and Ian demonstrates that mindset well in this interview. Ian discusses important additions to his dataset garnered from this campaign: 1. They are increasing their understanding of the fault system that intersected the ultra high-grade mineralisation they drilled this past spring. This will allow them to chase that high grade along the footwall during their next Gochager drill campaign. 2. Ian also discussed that the directional trend of the zone was more straight north than they had anticipated. With the high-grade zone of these steep, vertical lenses just a couple hundred meters in length, missing even by a few dozen meters means you've missed by a lot. 3. BHEM has again been used effectively to identify and fine-tune targets off-hole, giving Fathom confidence that there remains high-grade zones lurking at Gochager waiting to be found. 4. Geochem work continues to be cross-referenced with their geophys and BHEM work. This again creates narrower, more specific understandings of what they are looking at - and looking for. In my thoughts, the market is punishing Fathom for two things primarily, unrelated to the actual drill results: 1. Needing money 2. No more news flow for a few months Add on the merciless nature of this market where anything less than exceptional results gets crushed, and the market response comes into focus. But the future remains remarkably bright for Fathom. Now they just need to raise money and get after it once more.

Time Stamps:

01:30 Ian Discusses How Results Matched his Expectations, including any surprised good, bad, or indifferent.

05:46 Discussion of how these results still confirm Fathom's working model, with more potential at depth

09:51 Discussion of the two extremes - large bands of low-grade mineralisation, and small, ultra-high grade vein intersects, and what that means for their exploration model. 16:28 The significance of those veins, chasing deeper, winter drill campaign plans

20:24 Importance of BHEM and Fathom's continued, growing master of this land. Further targets have already been identified.

 

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