First Atlantic Nickel Raises Flow-Through Financing to Advance Low-Carbon Pipestone XL Project

An announcement from ArcPacific Resources Corp ( (TSE:FAN) ) is now available.

First Atlantic Nickel Corp. has launched a fully allocated, non-brokered private placement of flow-through common shares, without warrants, to raise up to approximately $2.94 million for exploration at its Pipestone XL Nickel Alloy Project in Newfoundland. The proceeds will fund drilling and exploration at the RPM Zone, testing of new drill targets across the project, and expansion of metallurgical recovery and processing programs, aiming to advance a potentially lower-carbon, sulfur-free awaruite nickel resource that could strengthen a secure North American nickel supply chain and reduce reliance on traditional smelting-intensive nickel production.

More about ArcPacific Resources Corp

First Atlantic Nickel Corp. is a Canadian mineral exploration company focused on the Pipestone XL Nickel Alloy Project in central Newfoundland, which covers the 30-kilometre-long Pipestone Ophiolite Complex. The project targets awaruite, a naturally occurring nickel-iron-cobalt alloy with high nickel content that can be upgraded through simple magnetic separation, positioning the company to supply lower-carbon nickel for stainless steel, electric vehicle, aerospace and defence markets within a top-tier Canadian mining jurisdiction.

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Technical Sentiment Signal: Hold

Current Market Cap: C$19.13M

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