07:39 AM EST, 11/26/2024 (MT Newswires) -- First Atlantic Nickel ( FANCF ) , which saw its shares drop 15% yesterday, announced Tuesday that it has submitted applications for new additional drill permits to "significantly" expand the drilling program at the RPM Zone, located 25 km south of the Atlantic Lake area.

According to Tuesday's statement, the company plans to construct a "shorter, more efficient direct access route to the RPM Zone, enabling year round access and accommodating heavier drill rigs capable of deeper and faster drilling, particularly during winter months". It said these initiatives aim to "accelerate the exploration and delineation of the RPM Zone, building on the success and encouraging visual observations of large-grained, visible awaruite mineralization in the initial drill holes."