12:08 PM EST, 03/04/2025 (MT Newswires) -- First Atlantic Nickel ( FANCF ) Tuesday released the initial assay results from drilling into the RPM zone at its Atlantic Nickel Project in central Newfoundland that showed nickel and chromium mineralization.

Drill hole AN-24-02 returned assays of up to 0.31% nickel and 2.61% chromium, with an average of 0.24% nickel and 0.32% chromium over its entire 383.1-metre length, from surface to the end of hole. These strong results confirm extensive nickel mineralization, initially observed as large-grain awaruite visibly disseminated throughout the drill core.

The company plans to expand this mineralized zone in the upcoming Phase 2 drill program. This is the first of four drill holes completed in the RPM Zone as part of Phase 1, with assay results from the remaining three holes still pending.

The company's shares were last seen down $0.01 to $0.28 on the TSX Venture Exchange.

Price: 0.28, Change: -0.01, Percent Change: -3.45