12:10 PM EST, 01/13/2025 (MT Newswires) -- First Atlantic Nickel ( FANCF ) Monday said it acquired a 100% interest in mining license 038152M, consisting of 12 mineral claims in central Newfoundland, known as the the RPM South claims.

The claims are situated immediately south of the recent discovery at the RPM Zone, which is part of the 30-kilometer nickel trend within the Atlantic Nickel project.

Future drill programs will aim to test for mineralization in all directions, including at depth, from the new discovery at the RPM Zone, which is no longer constrained by project boundaries.

The claims are "strategically important for future project infrastructure and development," while also being prospective as they have the potential to host awaruite nickel mineralization extending southward from the RPM Zone at depth.

The company's shares were last seen down $0.005 to $0.185 on the TSX Venture Exchange.

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