09:05 AM EDT, 10/23/2025 (MT Newswires) -- First Atlantic Nickel ( FANCF ) , which lost 8.3% yesterday, on Thursday released metallurgical test results from the RPM Zone within the Pipestone XL nickel alloy project in Newfoundland.

A statement noted the Davis Tube Recovery testing yielded a magnetic concentrate averaging 1.35% nickel over the entire 480-meter drill hole, with an average mass pull of 8.79%, resulting in an average magnetically recoverable nickel grade of 0.12% over 480 m.

FAN said drill hole AN-25-08 doubled the drill-confirmed strike length of the RPM Zone to 800 metres within a newly expanded 4-kilometer continuous target area. This demonstrates the continuity of awaruite nickel mineralization along strike throughout the RPM Zone, it added.

RPM Zone now being a 4-km target and the confirmation of 800 meters in strike length of magnetically-recoverable nickel-alloy mineralization represents a significant milestone in defining the large-scale potential of the Pipestone XL project, the company said.