First Atlantic Nickel Reports Highest Awaruite (Nickel-Iron-Cobalt Alloy) DTR Grades and Recovery to Date From Expansion Drilling at Pipestone XL Nickel Alloy Project

Core Insights - First Atlantic Nickel Corp. has reported the highest DTR nickel grades and magnetic concentrate performance to date at the RPM Zone, particularly from drill hole AN-25-10, which shows significant potential for further exploration and expansion toward Chrome Pond [1][7]. Group 1: Drilling Results - Hole AN-25-10 returned an average of 0.15% DTR Ni over 228 meters, with a total nickel grade of 0.22% and a magnetic recovery of 68.62%, marking a 25% increase over the RPM Zone average of 0.12% DTR Ni [6][7]. - The hole intersected the highest-grade intervals to date, including 0.17% DTR Ni from 8 to 59 meters and 0.16% DTR Ni from 215 to 236 meters, confirming the continuation of high-grade mineralization [2][8]. - Drilling was halted at 233 meters due to a clay-filled fault zone, but the hole ended in mineralization, indicating further potential for deeper exploration [9][29]. Group 2: Metallurgical Performance - The average mass pull of 10.48% in Hole AN-25-10 demonstrates that magnetic separation can concentrate recoverable nickel into just 10% of the original rock mass, significantly enhancing processing efficiency [3][23]. - Awaruite, the nickel-iron-cobalt alloy found in the RPM Zone, contains approximately 77% nickel, allowing for simpler magnetic concentration and higher end-concentrate grades compared to conventional nickel sulfide minerals [4][22]. Group 3: Future Plans and Expansion - The company plans to conduct additional drilling around Hole AN-25-10, focusing on deeper penetration and continued eastward expansion toward Chrome Pond, which has historically shown high chromium content [1][29]. - The metallurgical program is expanding to include chromium as a potential byproduct, with ongoing studies to assess recovery and concentration methods [4][26]. Group 4: Market Implications - Awaruite's unique properties eliminate the need for smelting and roasting, positioning the Pipestone XL Project as a potential domestic source of magnetically concentrated nickel, which could alleviate reliance on overseas processing infrastructure [24][34]. - The company anticipates updates on recovery, separation, and preliminary concentrate products for nickel, chromium, and cobalt in early 2026, which could impact market dynamics [26].