Eagle Royalties (ER.C), which owns a 2% net Smelter Royalty (subject to a buyback clause whereby the owner of the property may repurchase half of that for a C$1M cash payment) on the Albert Lake project in Saskatchewan, has released the exploration update issued by Fathom Nickel (FNI.C), the owner of the project.

The company completed almost 1,400 meters of drilling in six drill holes with one specific hole containing elevated nickel values which appear to be similar to the Rottenstone nickel-copper-PGE project located just 1.2 kilometers north of Albert Lake. Fathom Nickel appears to be upbeat about  the exploration results and its CEO Ian Fraser commented ‘

 We think the robustness and size of the multi-element soil geochemistry anomaly around AL24077 indicates chemical contributions from a large mineralized ultramafic body’

Disclosure: The author has a small long position in Eagle Royalties. Eagle Royalties is a sponsor of the website. Please read the disclaimer.

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