First Atlantic Nickel Phase 2X Drilling Expands Lateral Width of Awaruite Nickel Alloy Mineralization Along Sections S1 and S3 at RPM Zone Within Newly Expanded 4-Kilometer Target

Core Insights - First Atlantic Nickel Corp. has reported positive visual drilling results from Phase 2X at the RPM Zone of its Pipestone XL Nickel Alloy Project, indicating significant lateral expansion of awaruite mineralization [1][3][4] Drilling Results - Hole AN-25-10 intersected 233 meters of strong, visually disseminated, large-grain awaruite mineralization, extending the zone 200 meters east from the best previous results [1][4][6] - Hole AN-25-09 intersected 480 meters of visible awaruite, expanding the mineralization width to approximately 500 meters on Section S3, located 800 meters north of the original discovery [1][4][8] - Continuous awaruite mineralization has been confirmed across approximately 750 meters in lateral width on Sections S1 and S2, demonstrating the robust nature of the mineralizing system [2][4][9] Phase 2X Drilling Program - The Phase 2X drilling program has successfully expanded the RPM Zone, with approximately 3 kilometers of drill core returning positive magnetically recoverable nickel results, averaging 1.30% nickel in magnetic concentrate with a 9.12% mass pull, yielding 0.12% DTR nickel [3][10][11] - Additional drilling is planned to target the northern extension beyond holes AN-25-08 and AN-25-09, as well as the high-priority eastern target area where Hole AN-25-10 ended in mineralization [11][12] Mineralization Characteristics - Awaruite, a naturally occurring nickel-iron-cobalt alloy, has an average nickel grade of approximately 76%, significantly higher than the typical 25% found in pentlandite, making it a valuable resource [30][39] - The sulfur-free nature of awaruite allows for smelter-free magnetic separation, which could enhance North America's critical minerals supply chain by reducing reliance on foreign nickel processing [30][39][40] Strategic Expansion Plans - The company is focusing on a four-directional growth strategy targeting a 4-kilometer strike length and 1.2-kilometer width for further exploration [12][13][17] - The northern extension is identified as the highest exploration priority, with surface sampling indicating significant strike expansion potential [13][14]