First Atlantic Nickel Unveils Second Large-Scale Alloy Target at Pipestone XL

ArcPacific Resources Corp ( (TSE:FAN) ) has issued an update.

First Atlantic Nickel Corp has identified a second major awaruite nickel-cobalt alloy target, named Alloy Max, extending 7 km north of its existing RPM Zone within the Pipestone XL Nickel-Cobalt Alloy Project in central Newfoundland. The new zone was delineated through geological mapping, surface rock sampling, Davis Tube Recovery testing, and geophysics, outlining an initial target area of roughly 4 km by 1.2 km with surface grades comparable to those at RPM.

Geophysical data suggest Alloy Max could host a larger mineralized system than the RPM Zone, where drilling has already confirmed significant near-surface, magnetically recoverable awaruite nickel mineralization. Fully permitted and prioritized for drilling in 2026, Alloy Max is considered a potential second large-scale, open-pit style bulk-tonnage source that strengthens the district-scale development potential of the Pipestone XL project.

The discovery, along with ongoing exploration across the 30 km trend, underscores First Atlantic’s strategy to build a centralized processing hub for multiple awaruite zones within the district. To fund drilling at Alloy Max and RPM, the company has raised approximately $7.8 million in gross proceeds since December 2025 through non-brokered private placements without warrants, including flow-through financings and a LIFE offering, bolstering its financial capacity to advance exploration and de-risk the project for stakeholders.

More about ArcPacific Resources Corp

First Atlantic Nickel Corp is a mineral exploration company focused on developing large-scale nickel and cobalt resources in central Newfoundland, targeting awaruite (Ni₃Fe) nickel-cobalt alloy mineralization within the 30 km Pipestone Ophiolite Complex at its Pipestone XL Nickel-Cobalt Alloy Project. The company aims to supply a vertically integrated North American onshore supply chain for battery materials and stainless steel production by mining and processing magnetically recoverable nickel-cobalt feedstock without relying on smelting or offshore processing.

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