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4h ago

First Atlantic Renames Newfoundland Nickel Project 'Pipestone XL' as Phase 2X Drilling Moves Forward

The rebrand follows full control of a 30 km ophiolite belt hosting awaruite, a magnetic nickel alloy the company says could be concentrated without smelting.

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Overview

  • The company now holds 100% of the Pipestone Ophiolite Complex and has grouped targets across the district into the RPM, Super Gulp and Atlantic Lake zones.
  • Phase 2X at the RPM Zone is underway with step-out holes drilled to double strike and expand width from the Phase 1 footprint, and assays are pending.
  • Phase 1 drilling outlined roughly 400 meters by 500 meters of disseminated awaruite from surface to 495 meters downhole, with mineralization open at depth.
  • Davis Tube Recovery testing on RPM core returned an average DTR nickel of about 0.12% with magnetic concentrate averaging 1.38% nickel and a 9.08% mass pull at an ISO-accredited lab.
  • First Atlantic continues geologic hydrogen research with Colorado School of Mines and emphasizes the project's early exploration status with no mineral reserves reported in a pro-mining Newfoundland jurisdiction.