EV Nickel drills 0.25% nickel over 297 metres at Shaw Dome

EV Nickel Inc. [EVNI-TSXV] reported initial assay results from four holes of the phase 3 drilling program focused on the large-scale nickel target in the northeast of its Shaw Dome project south of Timmins, northeast Ontario, referred to as the Carman-Langmuir or CarLang area. This drilling now confirms the new CarLang A zone as a potential large-scale nickel prospect.

“These assays begin to outline the enormous potential of the CarLang area and that the A Zone represents just a fraction of the prospective units in the area. This newly defined Large-Scale zone confirms the continuity of the dunitic bodies along this part of the Shaw Dome and when combined with the surface outcrops, geophysical surveys and geochemical analysis of surface samples, reinforces the incredible potential,” said Paul Davis, VP, Exploration.

“This new Large-Scale CarLang A Zone combines nicely with the High-Grade business to the south, anchored by the W4 Zone, and positions us for our goal of supplying the rapidly expanding EV battery sector,” said Sean Samson, President & CEO. “We are entering a very exciting time for EV Nickel, with the remaining Phase 3 assay results and then the CarLang A Zone preliminary resource and W4 Zone updated resource both planned for the first half of 2023.”

Based upon airborne geophysical surveys and known surface exposures of dunitic outcrops, the CarLang Area is interpreted to host >10 km of prospective strike length of dunite, and the completed Phase 3 drilling identified the CarLang A Zone, covering ~1.4 km of the interpreted strike length, or ~15% of the total potential. The dunitic body forming the CarLang A Zone has interpreted widths that range from approximately 400 metres to 500 metres based upon the Phase 3 diamond drill program, airborne geophysical surveys and surface outcrop exposures.

With Phase 3, EVNI completed 28 holes representing 8,295 metres of diamond drill core across the CarLang A Zone. The drilling was focused in an area where eight EVNi Surface Samples taken earlier this year, averaged 0.26% nickel (wt per cent).

The company has only tested the CarLang A Zone to a vertical depth of 250 metres, even though multiple holes were bottomed in the dunitic body, as it has interpreted this as the optimal depth for any potential development of the area. It was also recognized by the company that given the distribution of the dunitic bodies within the property boundaries, that further extensions of the Large-Scale targets would be more cost effective by exploring from surface to a maximum of 250-metre depth along strike within the dunites, than to further test at greater depths.

Preliminary assay results on the first 4 holes of the CarLang A Zone intersected thick sequences of dunite hosting the Large-Scale, broad zones of nickel mineralization. Drilling confirmed the continuity of the dunitic body along the full strike length of the CarLang A Zone. Of importance is that 3 of the 4 holes reported are associated with holes testing either the east or west boundaries of the dunitic body and were designed to either start or end in mafic to intermediate volcanics as reflected in the intercept lengths. Hole EV22-23 was completed within the interior of the section and the nickel intercept reported represents the entirety of the core length. Assays are pending on the remaining 24 holes and are expected to be received through the coming weeks.

Intersections included hole EV22-23 with 297.0 metres grading 0.25% nickel and hole EV22-35 with 201.0 metres grading 0.22% nickel.

The Shaw Dome includes the W4 Zone, the basis of a 2010 historical estimate of 677K tonnes of 1.00% nickel, ~15M lbs of Class 1 Nickel. EV Nickel has over 30,000 hectares to explore across the Shaw Dome and has identified >100 km of favourable strike length. The company is focused on a 2-track strategy with High-Grade (starting with W4) and Large-Scale targets (starting with CarLang).

tsxv
nickel
diamond