08:18 AM EDT, 07/23/2025 (MT Newswires) -- First Atlantic Nickel ( FANCF ) on Wednesday released its initial phase 2 drill plan map detailing the locations of the first five holes at the RPM Zone within its 100%-owned Atlantic Nickel Project in central Newfoundland.

The recently completed phase 1 drilling program defined a near-surface mineralized zone measuring approximately 400m by 500m containing magnetically recoverable awaruite nickel mineralization. The company said that all phase 1 RPM Zone drill holes intersected broad, continuous zones of mineralization, yielding consistent grades and recoveries.

The Davis Tube Recovery (DTR)metallurgical results from all four RPM Zone holes averaged a magnetic concentrate grade of 1.41% nickel with an average mass pull of 9.10% resulting in a calculated average DTR Grade of 0.13% nickel.

Among the highlights, the company noted that with phase 1 drill holes terminating in mineralization, the system "demonstrates excellent potential for further growth" in all directions and at depth.

The company also said that the phase 2 expansion drilling is underway to "significantly" expand the known footprint of the RPM Zone, building on the results from phase 1.

First Atlantic Nickel ( FANCF ) said that in the northern extension, step-out drilling will target the area to the north towards Pipestone Pond, building on the results of hole AN-24-05, drilling in the eastern extension will test the lateral extent of the mineralized system towards Chrome Pond, and drilling in the western extension will evaluate the RPM fault zone.

"The successful completion of our Phase 1 program validates our geological model, marking the first major drilled awaruite discovery in the Atlantic region," said First Atlantic's Chief Executive Officer, Adrian Smith. "With Phase 2 drilling underway, our priority is to rapidly expand the known extent of this discovery and further assess the district-scale opportunity at the Atlantic Nickel Project."