# First Atlantic Nickel Drills Second Large-Scale Awaruite \(Ni-Fe-Co Alloy\) Discovery at Alloy Max North, Pipestone XL Project, 5.2 km North of RPM Zone - Visible Awaruite Over 414-Meter Drill Hole Ending in Open Mineralization

Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/first-atlantic-nickel-drills-second-large-scale-awaruite-ni-fe-co-alloy-discover--76b03490-bb64-40f1-9075-88a8834f8cbf

Original source: https://money.tmx.com/en/quote/FAN/news/6683101010024053/first-atlantic-nickel-drills-second-large-scale-awaruite-ni-fe-co-alloy-discover

Publisher: tmx

Original announcement: 2026-06-15T10:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: First Atlantic Nickel & Cobalt Corp.

- Ticker: FAN

- Exchange: TSX

- Region: Newfoundland and Labrador

- Primary commodity: Nickel

- Secondary commodities: Cobalt, Iron ore

- Document categories: Drill results

- Extracted: 2026-09-12 03:26:02 UTC

Narrative sentiment: 0.80 · Bullish

## Minestarters Atlas summary

First Atlantic Nickel has announced a second large-scale awaruite discovery at the Alloy Max Zone within the Pipestone XL Project. The discovery hole, XL-26-15, intersected 414 metres of visible disseminated awaruite and remains open to the east and at depth.

Reasoning: The hole XL-26-15 confirms a massive 414m continuous interval of visible awaruite, establishing a new large-scale target significantly larger than the previous RPM Zone discovery.

- Positive factor: Large-scale discovery of a second awaruite zone

- Positive factor: Significant strike length \(4 km\) and width \(1.5 km\) potential

- Positive factor: Mineralization is open at depth and to the east

- Positive factor: Visual abundance and grain size increasing down hole

- Negative factor: Results are visual only; no assay grades provided for this specific hole

- Negative factor: Only 200m of the 1.5km mapped width has been tested

Facts used in scoring: 1

## Classification and evidence

**Step-Out Extension**

Polarity: positive

Definition: Mineralization extended beyond the previously known limit.

Why it applies: The hole establishes a new mineralized area 5.2 km north of the existing RPM Zone discovery.

Evidence · text

> establishes a new mineralized area approximately 5.2 km north of the RPM Zone discovery hole AN-24-02

**Nearology Play**

Polarity: neutral

Definition: Value premise rests on proximity to a known deposit rather than own results.

Why it applies: The discovery is positioned relative to the existing RPM Zone discovery within the same complex.

Evidence · text

> located approximately 7 km north of the discovery at the RPM Zone

## Extracted facts

Stored fact records: 1. Some facts used in scoring do not have a stored record.

## Drill Results (1)

### XL-26-15

[Link to this fact](https://atlas-extractions.minestarters.com/news/first-atlantic-nickel-drills-second-large-scale-awaruite-ni-fe-co-alloy-discover--76b03490-bb64-40f1-9075-88a8834f8cbf#fact-drill-facts-0)

Pipestone XL Nickel-Cobalt Alloy · nickel

#### Identity

- Hole ID: XL-26-15
- Project: Pipestone XL Nickel-Cobalt Alloy
- Commodity: nickel
- Region: canada\_nl
- Reported Region: canada\_nl
- Ticker: FAN

#### Geometry

- Intercept: 414 m
- From: 0 m
- To: 414 m
- Intercept Depth: 0 m

#### Classification

- Program: exploration
- Sample Type: drill
- Group ID: XL-26-15:0-414
- Mining Method: unknown

#### Location

- Location: Alloy Max North
- Dip: 60 °
- Loc. Source: document

#### QA/QC

- QP Signed: Yes

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2026-06-15T00:00:00.000Z

Reasoning: Extremely wide continuous interval of visible awaruite \(Ni-Fe alloy\) establishes a major new target.

- Positive factor: 414m continuous visual mineralization

- Positive factor: Open at depth and to the east

- Negative factor: Visual identification only, no assay grades reported

Evidence · text

> XL-26-15, the first hole drilled at Alloy Max North, intersected visibly disseminated awaruite over its entire 414-meter length

#### Tags used in scoring

**No QA/QC Disclosure**

Polarity: negative

Definition: Release does not disclose QA/QC — lab certification, CP/QP sign-off and assay protocols cannot be checked from this document.

Why it applies: qaqc\_disclosed is not true

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: no cutoff\_grade was stated

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.