Canada based Fathom Nickel Inc (OTCMKTS:FNICF) was in focus among many investors yesterday after it made an announcement with regards to the results related to a drilling programme. The drilling programme in question is the Q3 2021 drilling programme that took place at the Albert Lake Property, which is owned fully by Fathom Nickel.
Trading Data
On Monday, FNICF stock fell 12.92% to $0.1490 with more than 9.5k shares, compared to its average volume of 27K shares. The stock has moved within a range of $0.1490 – 0.1530 after opening trade at $0.1530.
Results of the Q3-2021 Drill Program and Commencement of the Q1-2022 Drill Program at the Albert Lake Property
In addition to that, the company also made an announcement with regards to the start of the Q1-2022 drilling programme. However, the news did not come as source of any encouragement for the investors as the stock suffered from a strong selloff and ended the day with a decline of as much as 13%.
That being said, it should also be noted at this point that the property in question is situated at the Rottenstone mine, which is a historic mine and has produced high quality nickel in the past. The company noted that in the Q2 2021 drilling programme it had managed to make as many as 13 drill holes and the total depth added up to 3106 metres. Although the stock did fall yesterday, it could be a good move to keep an eye on the Fathom Nickel stock and watch out for any rebound.
Key Quote
Ian Fraser, VP Exploration commented, “We are very pleased to report an intersection of Rottenstone-like stratigraphy and mineralization at the Dime Area, 4.2 km south of the historic Rottenstone Mine. The results of the Q3-2021 drill program have played a pivotal role in the development and refinement of high-quality drill targets which will be the focus of the upcoming drill program utilizing the winter ice to optimize drill hole positioning.
