First Atlantic Nickel secures provincial grant to advance exploration in Newfoundland
Exploration company First Atlantic Nickel has received a C$150 000 grant under Newfoundland and Labrador’s Junior Exploration Assistance (JEA) programme to support its Phase 2 exploration campaign at the Atlantic Nickel project.
The company on Monday said the funding would contribute to its efforts to explore for critical minerals on its 100%-owned, district-scale project in central Newfoundland. The Atlantic Nickel project spans the 30-km-long Pipestone ophiolite complex, host to nickel, chromium and cobalt mineralisation.
Phase 1 drilling returned wide zones of visible awaruite – a sulphur-free, nickel-iron alloy that can be processed using low-emission magnetic separation. Awaruite, which contains about 75% nickel, does not require smelting or roasting, and testing has shown strong potential for high recovery and reduced environmental impact.
First Atlantic is preparing to start a fully funded and permitted Phase 2 programme to expand the RPM zone discovery. Assay results from drill hole AN-24-05 and metallurgical results from holes AN-24-04 and AN-24-05 are expected in the coming weeks.
“The Fraser Institute has consistently ranked Newfoundland and Labrador among the top global jurisdictions for mining investment,” the company said, citing a recent report that placed the province fourth out of 62 jurisdictions worldwide.
The JEA is aimed at boosting the province’s critical mineral inventory by supporting new discoveries and advancing existing ones toward NI 43-101-compliant resources.
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