Core Insights - First Atlantic Nickel Corp. has announced the successful completion of its Phase 1 drilling program at the RPM Zone, revealing a significant near-surface mineralized zone of awaruite nickel measuring approximately 400m x 500m, with all drill holes intersecting broad, continuous zones of mineralization [1][5][10] - The company is now advancing into Phase 2 drilling, which is fully funded and aims to expand the known mineralization footprint and assess the potential for a large-scale resource [1][11][12] Company Overview - First Atlantic Nickel Corp. is a Canadian mineral exploration company focused on developing the 100%-owned Atlantic Nickel Project, which is strategically located in Newfoundland, Canada [29][30] - The project features awaruite, a natural nickel-iron alloy that contains approximately 75% nickel and can be processed without the need for smelting, thus enhancing the resilience of North America's critical minerals supply chain [29][30] Phase 1 Drilling Results - The Phase 1 drilling program consisted of four diamond drill holes totaling 1,363 meters, successfully delineating a substantial zone of disseminated awaruite nickel mineralization [6][10] - Metallurgical testing via the Davis Tube Recovery method yielded an average magnetically recoverable nickel grade of 0.13%, with an average magnetic nickel concentrate of 1.41% Ni and an average mass pull of 9.1%, indicating a total nickel recovery of 54% based on an initial total nickel grade of 0.24% [1][5][8] Phase 2 Drilling Plans - The Phase 2 drilling program is designed to systematically expand the known footprint of the RPM Zone, targeting areas to the north, east, and west, as well as testing greater depths for potential bulk-tonnage resources [11][12] - Initial results from the first hole of the Phase 2 program (AN-25-06) have already confirmed the presence of large grain visible awaruite, extending the mineralization eastward [11][12] Awaruite Nickel Significance - Awaruite's unique properties allow for cleaner processing compared to conventional nickel sources, which often involve environmentally harmful methods [18][19] - The U.S. Inflation Reduction Act mandates that eligible clean vehicles must not contain critical minerals processed by foreign entities of concern, positioning awaruite as a strategic resource for North American electric vehicle manufacturers [18][19][30]