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First Atlantic starts pit excavation at RPM Zone, advancing road to connect key nickel-cobalt discoveries at Pipestone XL.

Market News
29 Oct 2026, 13:30 WIB
GlobeNewsWire
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Bullish
First Atlantic starts pit excavation at RPM Zone, advancing road to connect key nickel-cobalt discoveries at Pipestone XL.

First Atlantic Nickel & Cobalt Corp. has begun permitted pit excavation at the RPM Zone of its Pipestone XL project in Newfoundland, exposing bedrock north of current drilling and supporting the construction of a year-round exploration access road. This road will connect four major awaruite nickel-cobalt discoveries spanning 14 kilometres, enhancing access to previously undrilled areas and enabling faster, larger-scale exploration. The company raised $13.4 million to fund drilling, road construction, and sampling through 2027, aiming to develop Pipestone XL as a large-scale nickel-cobalt mining district with a smelter-free processing advantage. Ongoing work includes sampling exposed bedrock, expanding drill targets, and improving infrastructure to support year-round operations.

First Atlantic Nickel & Cobalt Corp.'s excavation and road construction at Pipestone XL provide context for Basic Materials sector activity on Pluang. For readers following this sector, here is Pluang's market snapshot as of Oct 29, 2026 17:51 WIB: Among 83 priced Basic Materials stocks, 22 rose and 58 fell. Sherwin-Williams Company (SHW) gained 3.14% to USD 330.86 with a typical hold time of 4 days, contrasting with Endeavour Silver Corp (EXK) which dropped 3.14% to USD 7.72 and saw 91% sell orders, and Aya Gold & Silver Inc. (AYA) which declined 3.12% to USD 24.50 with a 10-day hold time.

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