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4 days ago
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Azimut Resumes Drilling to Expand the Antimony-Gold Zone on the Wabamisk Property, James Bay Region, Québec, Canada
Stripping and Extensive Channel Sampling Confirm Mineralization over a Minimum 1.5-km Strike 2.08% Sb, 2.64 g/t Au over 17.0 m including 3.15% Sb, 10.92 g/t Au over 4.0 m1.66% Sb, 0.42 g/t Au over 14.0 m including 2.31% Sb, 0.50 g/t Au over 10.0 m LONGUEUIL, Québec, July 09, 2025 (GLOBE NEWSWIRE) -- Azimut Exploration Inc. ('Azimut' or the 'Company') (TSXV: AZM) (OTCQX: AZMTF) is pleased to announce that the Company has undertaken a systematic diamond drilling program to further delineate the Fortin antimony-gold Zone on its wholly owned Wabamisk Property (the 'Property') in the Eeyou Istchee James Bay ('James Bay') region of Québec, Canada (see Figures 1 to 12). This second drill program will accelerate the definition of the Fortin Zone, a multi-kilometre-long antimony-gold-bearing feldspar porphyry sill hosted in sheared metasediments. The program follows up on previously reported exciting results, which included 1.1% Sb over 51.5 m (press releases of October 29, 2024 and May 22, 2025). A salient result of the pre-drilling stripping phase was the uncovering of high-grade gold (up to 36.5 g/t Au over 1 m in channel WS25-02) associated with antimony. The gold potential of the Fortin Zone may increase at depth, a pattern already observed in other antimony-gold deposits worldwide. Six (6) stripped areas along the zone confirmed the continuity of antimony mineralization, returning high-grade values over a strike length of at least 1.5 kilometres. To date, 42 drill holes have intersected the sill over a lateral distance of 2.65 kilometres, and it remains open to the west. Summer Program Goals Delineate the Fortin Zone with systematic drilling over a 1.5-kilometre strike and down to 200 metres vertically. The minimum 5,000-metre drilling phase is scheduled to be completed in August. A second phase of 5,000 metres will take place later this year to infill and/or expand the mineralized zone. Search for high-grade gold at depth related to a possible vertical zonation. In several deposits around the world, gold-rich sections occur at deeper levels than antimony mineralization. Recent channel results support the potential of finding high-grade gold within the Fortin Zone. Commence a mineralogical and metallurgical characterization of the mineralized material, which will include comminution testing and flotation testwork. Highlights from Stripping (Figures 10 to 12, Table 1) Mechanical surface stripping and extensive channel sampling were carried out this summer along the Fortin Zone. Salient channel sampling results:WR25-01: 3.24% Sb / 19.0 m incl. 4.02% Sb / 15.0 m. Peak value of 13.4% Sb / 1 m (see note below).WR25-02: 2.08% Sb, 2.64 g/t Au / 17.0 m incl. 3.15% Sb, 10.92 g/t Au / 4.0 m. Peak value of 36.5 g/t Au / 1 1.66% Sb, 0.42 g/t Au / 14.0 m incl. 2.31% Sb, 0.50 g/t Au / 10.0 m. Peak value of 4.29% Sb / 1 0.97% Sb, 0.17 g/t Au / 16.0 m. Peak value of 2.36% Sb / 1 0.88% Sb / 17.0 m incl. 1.14% Sb / 11.0 m. Peak value of 5.9% Sb / 1 0.72% Sb, 0.31% Au / 20.0 m. Peak value of 2.28% Sb / 1 1.26% Sb, 0.88 g/t Au / 10.0 m incl. 0.74% Sb, 1.66 g/t Au / 5.0 m. Peak value of 4.69% Sb / 1 0.75% Sb / 12.0 m incl. 1.53% Sb / 4.0 m. Peak value of 2.51% Sb / 1 0.85% Sb, 0.21 g/t Au / 10.0 m incl. 1.36% Sb / 6.0 m. Peak value of 2.14% Sb / 1 m. All six (6) stripped areas, collectively covering 350 metres along a 1.5-kilometre east-west strike, exposed the feldspar porphyry sill and host metasediments, supporting the geometric continuity of the mineralized system. Mapping and sampling are still underway. Only preliminary results have been presented in this press release. Three hundred and eighty-eight (388) 1-metre-long channel samples were collected from 29 sawed channels. These channels have been cut perpendicularly to the geological strike and the main mineralized quartz vein system. 158 grab samples were also collected. Channel WR25-01 corresponds to Channel #1 in the press release of October 29, 2024 (3.92% Sb, 0.3 g/t Au / 14.0 m), which has now been extended 5 metres to the south. Preliminary geometry of the Fortin Zone Strike-length: At least 1.5 kilometres, based on 31 mineralized holes, within a broader 2.4-kilometre-long prospective corridor, based on two (2) holes drilled on the eastern and western extensions (WS25-22 and WS25-34, respectively). Recent prospecting led to the discovery of a new antimony showing ('Bob West') located 200 metres west of hole WS25-34. Thickness: Intervals grading above 0.1% Sb range from 5 to 50 metres wide along the hole, roughly 25 metres on average. Dip: To the south at approximately 75 degrees. Vertical extent: Mostly tested from surface down to 50 metres; open at depth. Mineralized system and geological context The antimony-gold mineralized system is hosted in an east-west striking, subvertical feldspar porphyry intrusive sill and its sheared contacts with metasedimentary rocks (mostly siltstones). To date, 42 holes have intersected the sill over a lateral distance of 2.65 kilometres, and it remains open to the west. Its thickness varies from several metres to over 90 metres, with a steep dip to the south. So far, the sill has been intercepted vertically down to 140 metres, and a deeper extent is anticipated. The multi-kilometre lateral continuity of the sill may suggest a kilometre-scale vertical extent. Antimony sulphides (mostly stibnite: Sb2S3; occasionally, possible gudmundite: FeSbS) are related to intense quartz veining within the sill and are commonly associated with other sulphides (arsenopyrite, pyrrhotite, pyrite). Sericite is the main alteration mineral, locally accompanied by chlorite, epidote and carbonate. The most abundant mineralization occurs along the southern contact where the sill is in contact with sheared and folded metasedimentary rocks. The northern contact is also mineralized, but drilling to date suggests it is less continuous than along the southern contact. The quartz vein network is mostly subparallel to the east-west schistosity. The rheologic contrast between the brittle porphyry sill and the more ductile metasedimentary rocks appears to be one of the key controls on mineralization at the scale of the Fortin Zone. Antimony-rich systems are unusual in Archean settings in Québec. The mineralized sill on the Wabamisk Property lies along the major tectono-metamorphic boundary separating the volcano-plutonic La Grande Subprovince and the metasedimentary Opinaca Subprovince. This geological environment has already been recognized as prospective for gold, exemplified by the Eleonore gold deposit. At Wabamisk, the antimony-rich zone may transition to a deeper gold-rich zone. About the Antimony Supply Shortage The price of antimony has risen sharply due to ongoing supply shortages exacerbated by trade disputes, recently reaching US$60,000 per tonne in markets outside China. Antimony is listed as a critical mineral by the Canadian and American governments and the European Commission. Three countries account for about 90% of the world's production, estimated to be 100,000 tonnes in 2024 (China 60%, Tajikistan 17% and Russia 13%). Antimony is not currently mined in Canada or the United States. In August 2024, China imposed restrictions on the export of antimony, resulting in a significant reduction in exports in October, which increased the risk of supply disruptions and potentially led to further price appreciation. Source: USGS, Antimony Commodity Summary, January 2025. About the Wabamisk Property Wabamisk is a wholly owned project (39.5 km by 9.2 km) comprising 662 claims covering 350.5 km2. It lies 13 kilometres east of the Clearwater Property (Fury Gold Mines), 42 kilometres northeast of the Whabouchi lithium deposit (Rio Tinto – Nemaska Lithium), and 70 kilometres south of the Eleonore gold mine (Dhilmar). Major powerlines pass through or close to the Property's eastern end, and the North Road highway passes 37 kilometres to the south. The nearest town is Nemaska, a Cree village municipality 55 kilometres to the southwest. Drilling, Analytical Protocols and Project Management Nouchimi-RJLL Drilling Inc. of Rouyn-Noranda, Québec, is conducting the drilling program using NQ core diameter. Grab samples, sawed channel samples and sawed half-core drill core samples are sent to ALS Laboratories in Val-d'Or or Montreal, Québec, where gold is analyzed by fire assay, with atomic absorption and gravimetric finishes for grades above 3.0 g/t Au. Samples are also analyzed for a 48-element suite using ICP. Antimony is also analyzed using four-acid digestion and ICP-AES (Sb-ICP08). Azimut applies industry-standard QA/QC procedures to its drilling and prospecting programs. All batches sent for analysis included certified reference materials, blanks and field duplicates. Note that grab samples are selective by nature, unlikely to represent average grades, and may not represent true underlying mineralization. The project is under the direction of Alain Cayer ( Azimut's Project Manager. Qualified Person Dr. Jean-Marc Lulin ( Azimut's President and CEO, prepared this press release and approved the scientific and technical information disclosed herein, including the previously reported results presented by Azimut in the figures supporting this press release. He is acting as the Company's qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. About Azimut Azimut is a leading mineral exploration company with a solid reputation for target generation and partnership development. The Company holds the largest mineral exploration portfolio in Québec, controlling strategic land positions for gold, copper, nickel and lithium. The Company's wholly owned flagship project, the Elmer Gold Project, is at the resource stage (311,200 oz Indicated and 513,900 oz Inferred using a gold price of US$1,800 per ounce*) and has a strong exploration upside. Azimut is also advancing the Galinée lithium discovery in collaboration with its joint venture partner, SOQUEM Inc. In addition, significant exploration progress was made in 2024 on the Wabamisk (antimony-gold, lithium), Kukamas (nickel-copper-PGE) and Pilipas (lithium) projects. Azimut uses a pioneering approach to big data analytics (the proprietary AZtechMine™ expert system) enhanced by extensive exploration know-how. The Company's competitive edge is based on systematic regional-scale data analysis. Azimut maintains rigorous financial discipline and a strong balance sheet. Contact and Information Jean-Marc Lulin, President and CEOTel.: (450) 646-3015 – Fax: (450) 646-3045 Jonathan Rosset, Vice President Corporate DevelopmentTel.: (604) 202-7531info@ The results of Azimut's work on the Wabamisk Property since the acquisition of the project by the Company in 2005, including the work carried out by its former partner, have been presented in 24 press releases, including the results disclosed in this release. The press releases are available on the Company's website or through SEDAR ( The technical reports related to this work have been filed with Québec's Ministry of Natural Resources and Forests and are accessible via SIGÉOM. * 'Technical Report and Initial Mineral Resource Estimate for the Patwon Deposit, Elmer Property, Québec, Canada', prepared by: Martin Perron, Chafana Hamed Sako, Vincent Nadeau-Benoit, and Simon Boudreau, of InnovExplo Inc., dated January 4, 2024. The initial MRE comprises: Indicated resources: 311,200 ounces in 4.99 million tonnes grading 1.93 g/t Au; Inferred resources: 513,900 ounces in 8.22 million tonnes grading 1.94 g/t press release contains forward-looking statements, which reflect the Company's current expectations regarding future events related to the drilling results from the Wabamisk Property. To the extent that any statements in this press release contain information that is not historical, the statements are essentially forward-looking and are often identified by words such as 'consider', 'anticipate', 'expect', 'estimate', 'intend', 'project', 'plan', 'potential', 'suggest' and 'believe'. The forward-looking statements involve risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Many factors could cause such differences, particularly volatility and sensitivity to market metal prices, the impact of changes in foreign currency exchange rates and interest rates, imprecision in reserve estimates, recoveries of gold and other metals, environmental risks including increased regulatory burdens, unexpected geological conditions, adverse mining conditions, community and non-governmental organization actions, changes in government regulations and policies, including laws and policies, global outbreaks of infectious diseases, including COVID-19, and failure to obtain necessary permits and approvals from government authorities, as well as other development and operating risks. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this document. The Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, other than as required to do so by applicable securities laws. The reader is directed to carefully review the detailed risk discussion in our most recent Annual Report filed on SEDAR+ for a fuller understanding of the risks and uncertainties that affect the Company's business. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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4 days ago
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First Atlantic Nickel Expands RPM Zone Awaruite Nickel-Alloy (Ni₃Fe) Discovery: 400-Meter Northern Extension Yields 1.47% Nickel Concentrate Over 351 Meters in DTR Metallurgical Recovery Testing
GRAND FALLS-WINDSOR, Newfoundland and Labrador, July 09, 2025 (GLOBE NEWSWIRE) -- First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) ("First Atlantic" or the "Company") is pleased to announce positive Davis Tube Recovery (DTR) metallurgical test results from drill hole AN-24-05, the final hole completed during the Phase 1 drilling at the RPM Zone, part of its district scale Atlantic Nickel Project (the "Project"). Drill hole AN-24-05 returned a continuous interval of 351 meters averaging 1.47% nickel and 1.53% chromium in magnetic concentrate, with a mass pull of 8.21%. This corresponds to a magnetically recoverable nickel grade (DTR grade) of 0.12% over the 351 meter interval. Located approximately 400-meters north of the initial RPM discovery hole AN-24-02, this step out hole confirms that widespread disseminated, visible awaruite mineralization extends significantly northward toward Pipestone Pond. Phase 2 drilling is currently underway, building on the success of Phase 1, which already defined a 400-meter by 500-meter area of awaruite nickel mineralization. All four holes drilled at the RPM Zone in Phase 1 intersected disseminated awaruite mineralization, returning consistent nickel grades and recoveries. Concentrate grades from these holes ranged from 1.32% to 1.47% nickel, with mass pulls between 8.21% and 9.53%. Notably, all drill holes ended in mineralization and remain open in all directions, indicating significant expansion potential. The consistent magnetic concentrate grades and mass pulls across the drilled area underscore the extensive nature of the awaruite nickel mineralization in the RPM Zone. Highlights: AN-24-05 Extends RPM Zone 400 Meters North, Confirming Continuity of Awaruite Mineralization: Drill hole AN-24-05, the fourth hole completed during the Phase 1 drill program at the RPM Zone, extends the drill-defined mineralization approximately 400 meters north of the initial discovery hole (AN-24-02). The results confirm the continuity of widespread disseminated awaruite nickel mineralization within the RPM Zone. Metallurgical Testing of AN-24-05 Returns 1.47% Nickel Concentrate Over 351 Meters: Davis Tube Recovery (DTR) testing of the 351meter mineralized interval in AN-24-05 returned a nickel grade of 1.47% in magnetic concentrate, with a mass pull of 8.21%. This equates to a magnetically recoverable DTR nickel grade of 0.12%. The total nickel recovery was 50.26% from a head grade of 0.24% total nickel, highlighting the effectiveness of magnetic separation as a metallurgical process for upgrading awaruite nickel mineralization. Phase 1 Drilling Expands Awaruite Nickel Discovery at RPM Zone: The Phase 1 drill program has delineated an initial mineralized zone measuring 400 x 500 meters. All four holes within the RPM Zone intersected significant awaruite nickel mineralization, returning consistently high DTR concentrate grades ranging from 1.32% to 1.47% nickel and mass pulls of 8.21% to 9.53%. These results yielded magnetically recoverable DTR nickel grades between 0.11% to 0.14%, establishing a strong foundation for Phase 2 expansion drilling. RPM Zone Discovery Highlights District-Scale Potential of Atlantic Nickel Project: The RPM Zone discovery occurs within a 30 km long, highly magnetic ultramafic nickel belt known as the Pipestone Ophiolite Complex. The zone is located approximately 25 kilometers south of historic awaruite nickel-alloy (Ni₃Fe) mineralization identified by Altius Resources and Cliffs Natural Resources in 2010 at the Atlantic Lake Zone. Average DTR nickel grades of 0.11% to 0.14% from the RPM Zone demonstrate the potential for district-scale awaruite mineralization within multiple target areas of the project. Phase 2 Exploration and Expansion Drilling Underway to Expand RPM Mineralized Footprint: The Phase 2 drilling campaign is currently underway, utilizing a systematic grid-based drill plan designed to step out from the Phase 1 footprint. The program aims to expand the RPM Zone's mineralized area and further define the extent of awaruite nickel mineralization. RPM ZONE DRILL HOLE AN-24-05 RESULTS Table 1: DTR Metallurgical Test Results Summary - Drill Hole AN-24-05 (RPM Zone) Parameter Average Maximum Drill Length Nickel - Magnetic Concentrate Grade(Davis Tube Recovery Concentrate assayed by XRF-Fusion) 1.47% 2.61% 351m Chromium - Magnetic Concentrate Grade(Davis Tube Recovery Concentrate assayed by XRF-Fusion) 1.53% 2.88% 351m Mass Pull (Magnetic Concentrate mass as % of Davis Tube test starting mass) 8.21% 10.9% 351m Total Nickel Grade (Whole Rock ICP-OES assay) 0.24% 0.29% 351m DTR Nickel Grade - Magnetically Recovered Nickel(Calculated with Davis Tube Recovery method) 0.12% 0.17% 351m Total Nickel RecoveryMagnetically Recovered Nickel as a Percentage of Total Nickel Content (from Whole Rock Assay Analysis) 50.26% 69.8% 351m The Company's final drill hole from the Phase 1 program at the RPM zone, AN-24-05, has returned positive DTR metallurgical test results that extend the known awaruite mineralization approximately 400 meters to the north of the initial RPM Zone discovery hole (AN-24-02). Drill hole AN-24-05 intersected 351 meters of awaruite mineralization averaging 1.47% nickel and 1.53% chromium in magnetic concentrate. The interval demonstrated a consistent mass pull averaging 8.21% and a DTR nickel grade of 0.12%, with total nickel recovery averaging 50.26% over the 351meter interval. These results highlight the strong and uniform metallurgical properties of the northern extension of the RPM Zone. With the completion of AN-24-05, Phase 1 drilling has delineated an initial mineralized footprint measuring approximately 400-meters by 500-meters. All four holes from the program successfully intersected broad zones of disseminated awaruite-bearing nickel mineralization. The metallurgical results are notably consistent across all holes, indicating uniform nickel alloy mineralization hosted within ultramafic host rocks and strong lateral continuity of the mineralization system, which remains open in all directions and at depth. Across the RPM Zone, Phase 1 drilling returned magnetic concentrate grades ranging from 1.32% to 1.47% nickel, with mass pulls between 8.21% and 9.53%. Corresponding DTR nickel grades averaged 0.11% to 0.14%, confirming the RPM Zone as an extensive awaruite-dominated nickel system with robust metallurgical characteristics. All Phase 1 holes ended in mineralization, providing a solid foundation for the Phase 2 drilling program, which aims to expand the mineralized footprint and further delineate the RPM Zone's scale and continuity. Table 2: DTR Metallurgical Test Results Summary from Drill Hole AN-24-05 (RPM Zone) Hole ID From (m) To (m) Interval (m) Mass Pull (%) Nickel - Magnetic Concentrate GradeNi (%) Nickel - Total Grade Ni (%) DTR Nickel Grade - Magnetically Recovered Ni (%) Total Nickel Recovery(%) Chromium - Magnetic Concentrate GradeCr (%) Chromium Total Grade Cr (%) DTR Chromium Grade - Magnetically RecoveredCr (%) Cobalt - Magnetic Concentrate GradeCo (%) Hole AN-24-05 6 357 351 8.21 1.47 0.24 0.12 50.26% 1.53 0.29 0.12 0.06 including 6 207 201 8.36 1.39 0.23 0.12 49.13% 1.58 0.30 0.13 0.07 including 207 309 102 7.82 1.76 0.24 0.14 56.95% 1.50 0.27 0.12 0.07 including 309 357 48 8.32 1.18 0.24 0.10 40.59% 1.39 0.29 0.11 0.05 Including "up to" 10.90 2.61 0.29 0.17 69.78% 2.88 0.55 0.28 0.09 Table 3: RPM Phase 1 DTR Metallurgical Results Summary Drill hole Interval (m) Magnetic Concentrate Nickel Percent Grade Mass Pull (%) Magnetically Recoverable Nickel Grade (DTR Ni%) Drill Ended in Mineralization AN-24-02 383 1.37% 9.49 0.13 YES AN-24-03 216 1.32% 9.12 0.11 YES AN-24-04 366 1.46% 9.53 0.14 YES AN-24-05 357 1.47% 8.21 0.12 YES DTR Nickel Grade (%) is a calculated by multiplying the nickel grade of the magnetic concentrate (determined by XRF-Fusion assay) by the mass pull percentage, which is calculated by dividing the weight of the magnetic concentrate by the initial sample weight. Magnetically Recoverable Nickel (DTR Ni %) represents the amount of nickel in the sample that can be recovered using magnetic separation. For a visual explanation of the Davis Tube Recovery process, see: ID Easting (UTM) Northing (UTM) Elevation (m) Azimuth (°) Dip (°) Depth (m) AN-24-05 567322 5357995 230 90 -60 402 Cross-sectional view of the RPM Zone Hole AN-24-05 located 400 meters north of discovery hole AN-24-02. Showing the distribution of magnetic concentrate and DTR nickel values. Drill hole AN-24-05 averages 1.47% nickel and 1.53% chromium in continuous metallurgical DTR magnetic concentrate, with an average 8.21% Mass Pull and 0.12% DTR nickel over the 351meter interval. Map of the 30-kilometer-long nickel trend within the Pipestone Ophiolite Complex, illustrating the locations of Phase 1 drill holes (AN-24-01 through AN-24-05) and corresponding nickel and chromium assay results. The map highlights the spatial distribution of mineralized intercepts and outlines key target areas. Drill Core and Microscopic Images – AN-24-05 at 28 Meters Depth (RPM Zone). Top image: Drill core from hole AN-24-05 at 28 meters depth showing disseminated awaruite (sulfur-free nickel-iron alloy) hosted in serpentinized peridotite with associated magnetite veining. Bottom images: Microscopic images of awaruite grains from the same interval, with individual grains measuring up to 349 microns. Drill Core and Microscopic Images – AN-24-05 at 190 Meters Depth (RPM Zone). Top image: Drill core from hole AN-24-05 at 190 meter depth showing disseminated awaruite (a sulfur-free nickel alloy) hosted in serpentinized ultramafic peridotite within the RPM Zone. Bottom images: Microscopic images of awaruite grains from the same depth, measuring up to 732 microns. Saw blade streaks are visible across the grains, illustrating the ductile and highly-magnetic properties of awaruite. PHASE 2 DRILLING UNDERWAY TO EXPAND RPM ZONE MINERALIZATION Phase 2 drilling is actively underway at the RPM Zone, with a program strategically designed to expand the current mineralized footprint beyond the approximately 400-meter length by 500-meter width area defined by the initial Phase 1 drill holes. Strategic step-out drilling at greater depths is now actively testing further expansion of mineralization in all directions - north toward Pipestone Pond, east toward Chrome Pond, and west into the RPM fault zone. Results from drill hole AN-24-05 highlight the strong potential for further expansion, with consistent DTR grades encountered throughout the hole, ending in mineralization. These findings indicate that the mineralized awaruite system extends further north, making the area towards Pipestone Pond a high-priority target. The fully funded Phase 2 program is further supported by upgraded project infrastructure, including improved road access and expanded camp facilities. In addition, equipment optimizations have enabled deeper drilling capabilities, enhancing the Company's ability to test the full vertical and lateral extent of the mineralized system. Together, these advancements position the Phase 2 campaign to meaningfully grow the RPM Zone's known mineralized footprint across in all target directions. Awaruite (Nickel-iron alloy Ni₂Fe, Ni₃Fe) Awaruite, a naturally occurring sulfur-free nickel-iron alloy composed of Ni₃Fe or Ni₂Fe with approximately ~75% nickel content, offers a proven and environmentally safe solution to enhance the resilience and security of North America's domestic critical minerals supply chain. Unlike conventional nickel sources, awaruite can be processed into high-grade concentrates exceeding 60% nickel content through magnetic processing and simple floatation without the need for smelting, roasting, or high-pressure acid leaching1. Beginning in 2025, the US Inflation Reduction Act's (IRA) $7,500 electric vehicle (EV) tax credit mandates that eligible clean vehicles must not contain any critical minerals processed by foreign entities of concern (FEOC)2. These entities include Russia and China, which currently dominate the global nickel smelting industry. Awaruite's smelter-free processing approach could potentially help North American electric vehicle manufacturers meet the IRA's stringent critical mineral requirements and reduce dependence on FEOCs for nickel processing. The U.S. Geological Survey (USGS) highlighted awaruite's potential, stating, "The development of awaruite deposits in other parts of Canada may help alleviate any prolonged shortage of nickel concentrate. Awaruite, a natural iron-nickel alloy, is much easier to concentrate than pentlandite, the principal sulfide of nickel"3. Awaruite's unique properties enable cleaner and safer processing compared to conventional sulfide and laterite nickel sources, which often involve smelting, roasting, or high-pressure acid leaching that can release toxic sulfur dioxide, generate hazardous waste, and lead to acid mine drainage. Awaruite's simpler processing, facilitated by its amenability to magnetic processing and lack of sulfur, eliminates these harmful methods, reducing greenhouse gas emissions and risks associated with toxic chemical release, addressing concerns about the large carbon footprint and toxic emissions linked to nickel refining. The development of awaruite resources is crucial, given China's control in the global nickel market. Chinese companies refine and smelt 68% to 80% of the world's nickel4 and control an estimated 84% of Indonesia's nickel output, the largest worldwide supply5. Awaruite is a cleaner source of nickel that reduces dependence on foreign processing controlled by China, leading to a more secure and reliable supply for North America's stainless steel and electric vehicle industries. Investor Information The Company's common shares trade on the TSX Venture Exchange under the symbol "FAN", the American OTCQB Exchange under the symbol 'FANCF' and on several German exchanges, including Frankfurt and Tradegate, under the symbol "P21". Investors can get updates about First Atlantic by signing up to receive news via email and SMS text at Stay connected and learn more by following us on these social media platforms: FOR MORE INFORMATION:First Atlantic Investor RelationsRobert GuzmanTel: +1 844 592 6337rob@ Disclosure Adrian Smith, a director and the Chief Executive Officer of the Company is a qualified person as defined by NI 43-101. The qualified person is a member in good standing of the Professional Engineers and Geoscientists Newfoundland and Labrador (PEGNL) and is a registered professional geoscientist ( Mr. Smith has reviewed and approved the technical information disclosed herein. Analytical Method & QA/QC Samples were split in half on site, with one half remaining in the core box for future reference and the other half securely packaged for laboratory analysis. The QA/QC protocol included the insertion of blanks, duplicates, and certified reference material (standards), with one QA/QC sample being inserted every 20 samples to monitor the precision and accuracy of the laboratory results. All analytical results successfully passed QA/QC screening at the laboratory, and all Company inserted standards and blanks returned results within acceptable limits. Samples were submitted to Activation Laboratories Ltd. ('Actlabs') in Ancaster, Ontario, an ISO 17025 certified and accredited laboratory operating independently of First Atlantic. Each sample was crushed, with a 250 g sub-sample pulverized to 95% - 200 mesh. A magnetic separate was then generated by running the pulverized sub-sample through a magnetic separator which splits the sub-sample into magnetic and non-magnetic fractions. This involves running a 30 g split of the pulp through a Davis Tube magnetic separator as a slurry using a constant flow rate, a magnetic field strength of 3,500 Gauss, and a tube angle of 45 degrees to produce magnetic and non-magnetic fractions. The magnetic fractions are collected, dried, weighed and the magnetic fraction is fused with a lithium metaborate/tetraborate flux and lithium bromide releasing agent and then analyzed on a wavelength dispersive XRF for multiple elements including nickel, cobalt, iron and chromium. The magnetically recovered nickel grade was then calculated by multiplying the XRF fusion nickel value by the weight of the magnetic fraction and dividing by the total recorded feed weight or magnetic mass pulled from the sample. True widths are currently unknown. However, the nickel bearing ultramafic ophiolite and peridotite rocks being targeted and sampled in the Phase 1 drilling program at the Atlantic Nickel Project are mapped as several hundred meters to over 1 kilometer wide and approximately 30 kilometers long. About First Atlantic Nickel Corp. First Atlantic Nickel Corp. (TSXV: FAN) (OTCQB: FANCF) (FSE: P21) is a Canadian mineral exploration company developing the 100%-owned Atlantic Nickel Project, a large-scale nickel project strategically located near existing infrastructure in Newfoundland, Canada. The Project's nickel occurs as awaruite, a natural nickel-iron alloy containing approximately 75% nickel with no-sulfur and no-sulfides. Awaruite's properties allow for smelter-free magnetic separation and concentration, which could strengthen North America's critical minerals supply chain by reducing foreign dependence on nickel smelting. This aligns with new US Electric Vehicle US IRA requirements, which stipulate that beginning in 2025, an eligible clean vehicle may not contain any critical minerals processed by a FEOC (Foreign Entities Of Concern)6. First Atlantic aims to be a key input of a secure and reliable North American critical minerals supply chain for the stainless steel and electric vehicle industries in the USA and Canada. The company is positioned to meet the growing demand for responsibly sourced nickel that complies with the critical mineral requirements for eligible clean vehicles under the US IRA. With its commitment to responsible practices and experienced team, First Atlantic is poised to contribute significantly to the nickel industry's future, supporting the transition to a cleaner energy landscape. This mission gained importance when the US added nickel to its critical minerals list in 2022, recognizing it as a non-fuel mineral essential to economic and national security with a supply chain vulnerable to disruption. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release may include "forward-looking information" under applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and are based on a number of estimates and/or assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to: statements regarding: the timing, scope and results of the Company's Phase 1 and Phase 2 work and drilling programs; future project developments; the Company's objectives, goals, and future plans; statements and estimates of market conditions; the viability of magnetic separation as a low-impact processing method for awaruite; the strategic and economic implications of the Company's projects; and expectations regarding future developments and strategic plans; Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining and clean energy industries. Additional factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no mineral reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking information, except as required by applicable securities laws. 1 Photos accompanying this announcement are available at: in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
5 days ago
- Business
- Globe and Mail
New Drill Results Spark Investor Excitement in Saskatchewan Uranium Play
Two uranium companies made headlines this morning with a joint release announcing a new uranium discovery. Following the news, at least one of the companies has seen a significant increase in its share price today. IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) and Purepoint Uranium Group Inc. (TSX-Venture: PTU) (OTC: PTUUF) stated in a press release this morning that their first drilling at the Dorado project in Saskatchewan is off to a great start. They found uranium in two drill holes with very high radiation readings, suggesting there's an active source of uranium in the rocks underground. Highlights of the drill program stated initial drilling at the Q48 target in the southern part of the Project had confirmed significant uranium mineralization, with drillholes PG25-04 and PG25-05 intersecting a steeply dipping, north-south trending mineralized structure at depths of 60 m and 20 m below the unconformity, respectively. Downhole probe measurements recorded high radioactivity readings—averaging 11,050 cps over 3.7 m in PG25-04 and 27,750 cps over 2.3 m in PG25-05. The mineralization is hosted in strongly clay-altered basement rocks, typical of Athabasca-style uranium systems. Q48 had been identified as a high-priority target due to historic drilling and 2022 mapping of faults and alteration along the conductive trend. A third hole is underway to extend the mineralized structure northeast, with 5,400 m in 18 drill holes planned for the Project in 2025. "This is exactly the kind of start we were aiming for. These early results suggest we're on the trail of something meaningful." said Chris Frostad, President and CEO at Purepoint. "These initial hits speak to the quality of the target and the systematic approach our team is taking to uncover its potential. We're moving quickly to follow up on these encouraging results as drilling continues." While shares of ISO are down 2.41% at $9.31, their partner's stock is surging, with PTU up 24.53% at $0.33 and U.S.-listed shares (PTUUF) up 27.76% at $0.243 in early-afternoon trading. Copyright © 2025 All rights reserved. Republication or redistribution of content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. View more of this article on About Media, Inc.: Founded in 1999, is one of North America's leading platforms for micro-cap insights. Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders. is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals. Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today. Contact: Media, Inc.
Globe and Mail
5 days ago
- Business
- Globe and Mail
IsoEnergy and Purepoint Confirm Uranium Discovery In Initial Drilling at the Dorado Joint Venture Project
TORONTO, July 8, 2025 /CNW/ - IsoEnergy Ltd. (NYSE American: ISOU) (TSX: ISO) ("IsoEnergy") and Purepoint Uranium Group Inc. (TSXV: PTU) (OTC: PTUUF) ("Purepoint") are pleased to announce a highly encouraging start to the inaugural drill program at their 50/50 Dorado project ("Dorado" or the " Project '"), located in Saskatchewan's world-class Athabasca Basin (Figure 1). Initial drilling at the Q48 target on the Project, completed by Purepoint as the operator of the program, intersected uranium mineralization in two holes, with downhole gamma probe readings up to 79,800 counts per second (CPS). The intercepts occur within strongly altered basement rocks –suggesting an active uranium-bearing hydrothermal system.
Yahoo
7 days ago
- Business
- Yahoo
USCM Completes Acquisition of Clayton Ridge Lithium Project
Vancouver, British Columbia--(Newsfile Corp. - July 7, 2025) - U.S. Critical Metals Corp. (CSE: USCM) (OTCQB: USCMF) (FSE: 0IU) ("USCM" or the "Company") is pleased to to announce that it has completed its acquisition of a 100% interest in the Clayton Ridge Lithium Project (the "Project"), located in Esmeralda County, Nevada. The acquisition follows the successful fulfillment of all terms outlined in an existing option agreement with the vendor. The Project remains subject to a 3% gross overriding royalty (GORR) with an option to purchase 1% of the GORR for USD$1 million (for additional information relating to transaction terms see Company's press release - access here). The Project is strategically located in a hanging basin over the Clayton Valley, approximately 20 kilometers west of Tonopah, Nevada — a region known for hosting several advanced-stage lithium claystone deposits. The Project is characterized by sequences of Miocene-aged lacustrine sediments. These units are known to host lithium-bearing claystones similar to those being developed at nearby projects, including American Lithium's TLC Project and Lithium Americas' Thacker Pass. Historical and recent exploration activities at the Project have confirmed the presence of lithium-rich claystone over significant surface exposures, with previous drilling returning broad intervals of lithium mineralization. Mineralization is hosted within illite- and smectite-rich volcanic ash-derived clays, with geological drilling, mapping and sampling supporting the potential for lateral extension, particularly toward the east (for additional technical information see Company's press release - access here). "Although lithium markets have faced near-term price pressures, we continue to see long-term structural demand for domestic lithium supply," stated Darren Collins, CEO of USCM. "With advanced projects like Thacker Pass and American Lithium's TLC Project helping de-risk claystone lithium assets in the United States, we believe Clayton Ridge is well-positioned as part of a broader national strategy to establish secure and scalable lithium supply from clay-based deposits." Cautionary Note: The comparable information about other projects was obtained from public sources and has not been verified by the Company. Comparable means information that compares an issuer or project to other issuers or projects. The comparables are considered to be an appropriate basis for comparison with the Company based on their industry, commodity mix, jurisdiction, and additional criteria. The comparable projects face different risks from those applicable to the Project. Relevant material concerning any adjacent or comparable properties included in this press release is limited to information publicly disclosed by the owner or operator for such adjacent or comparable property. The Company cautions that past production, mineral reserves, resources or occurrences on adjacent or comparable properties are not indicative of the mineralization on the Company's properties. Readers are cautioned that the past performance of comparables is not indicative of future performance and that the performance of the Company may be materially different from the comparable projects. You should not place undue reliance on the comparable information provided in this press release. Qualified Person The scientific and technical information contained in this news release has been verified and approved by Robert J. Johansing, BSC. geology, MSc economic geology, who is a qualified person as defined in NI 43-101. Mr. Johansing is a consultant of the Company. About US Critical Metals Corp. USCM is focused on mining projects that will further secure the US supply of critical metals and rare earth elements, which are essential to fueling the new age economy. Pursuant to investments and option agreements with private Canadian and American companies, USCM's projects include the Long Canyon Uranium and Vanadium Property in Idaho, the Sheep Creek located in Montana, the McDermitt Lithium Property in Nevada, the Clayton Ridge Lithium Property located in Nevada, and the Haynes Cobalt Property located in Idaho. A significant percentage of the world's critical metal and rare earth supply comes from nations with interests that are contrary to those of the US. USCM intends to explore and develop critical metals and rare earth assets with near- and long-term strategic value to the advancement of US interests. For further information please contact: Darren CollinsChief Executive Officer & Director Email: dcollins@ Neither the Canadian Securities Exchange nor the Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. Disclaimer for Forward-Looking Information This news release contains certain information that may be deemed "forward-looking information" with respect to USCM within the meaning of applicable securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause USCM's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking information contained in this press release may include, without limitation, the exploration plans and expected exploration and drilling results at the Project, results of operations, the expectation that the Project stands to benefit from the political shift to deglobalize and secure domestic sources of supply in the United States and the expected financial performance of the Company. Although USCM believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature, forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; the receipt of required regulatory approvals and the timing of such approvals; that USCM maintains good relationships with the communities in which it operates or proposes to operate; future legislative and regulatory developments in the mining sector; USCM's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of USCM to implement its business strategies; competition; the risk that any of the assumptions prove not to be valid or reliable, which could result in delays, or cessation in planned work; risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits; the possibility that results will not be consistent with USCM's expectations; as well as other assumptions, risks and uncertainties applicable to mineral exploration and development activities and to USCM, including as set forth in the USCM's public disclosure documents filed on the SEDAR website at The forward-looking information contained in this press release represents the expectations of USCM as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While USCM may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. To view the source version of this press release, please visit
