First Atlantic Nickel Doubles RPM Zone Strike Length to 800 Meters at Pipestone XL Nickel Alloy Project with 491 Meter Awaruite (Ni3Fe) Intercept in Phase 2X Drilling

Core Insights - First Atlantic Nickel Corp. has reported significant progress in its Phase 2X drilling program at the Pipestone XL Nickel Alloy Project, confirming the continuity of awaruite mineralization with drill hole AN-25-08 intersecting 491 meters of large grain, visibly disseminated awaruite, extending the RPM Zone strike length to 800 meters, which is double the length drilled in Phase 1 [1][8][34] Drilling Results - Drill hole AN-25-08 on Line S3 has successfully established an 800-meter continuous north-south strike length at the RPM Zone, marking a 2X increase from the original Phase 1 discovery [8] - The intersection contains the largest disseminated awaruite grains identified to date, with individual grains reaching up to approximately 2,000 microns in length, which is double the previous record of 1,000 microns [7][8] - The Phase 2X drilling has confirmed continuous awaruite mineralization across three drill sections (S1, S2, and S3), each spaced approximately 400 meters apart, with the RPM Zone remaining open in all directions [2][8] Metallurgical Testing - Davis Tube Recovery (DTR) testing from the RPM Zone has returned magnetic concentrate grades averaging 1.38% nickel and 1.67% chromium, with an average DTR nickel grade of 0.12% and a mass pull of 9.08% [3][8] - The DTR testing results indicate robust mineralization and enhanced magnetic recovery potential due to the distinctive chain formation of awaruite grains migrating into magnetite veining [7][8] Geological Insights - The updated geological model suggests that the Pipestone Ophiolite Complex consists of laterally extensive layers of peridotites or harzburgites that dip to the west, with optimal drill orientation considered to be east-dipping at angles between 45-65 degrees [17][18] - Initial east-dipping drill holes have intersected higher concentrations of awaruite nickel mineralization in harzburgites compared to dunites, providing a more complete profile of the deposit [19] Future Plans - The Phase 2X program is designed to test beyond a 1-kilometer strike length, with multiple updates on drilling and project developments expected in the coming weeks [8][34]