EV Nickel, a Canadian nickel exploration company, is focussed on the Shaw Dome area, 25 kilometres south of Timmins, Ontario
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I’m Katriina Cotten Investmentpitch Media
EV Nickel reports continued high-grade nickel intersections from its Langmuir Project in Ontario.
EV Nickel, a Canadian nickel exploration company, is focussed on the Shaw Dome area, 25 kilometres south of Timmins, Ontario.
The Langmuir Project, which includes the W4 Deposit, spreads across more than 9000 hectares of the Shaw Dome and over 30 kilometres of strike length, is 7 kilometres by road from the Redstone Mill which has a capacity of 2,000 tonnes per day.
The W4 Deposit was the basis of a 2010 historical indicated resource estimate of 677,000 tonnes @ 1.00% Nickel, containing approximately 15 million lbs of Class 1 Nickel.
The Phase 1 drill program, which totalled 20 holes, comprising 4,192 metres of diamond drilling, focussed within and proximal to the W4 Zone and was designed to test gaps within the historic drilling, provide representative intersections of the mineralization and test the favourable ultramafic horizon to the east and west of the W4 mineralization.
Hole EV21-09 intersected 15.7 metres grading 1.14% Nickel starting at a drill depth of 123.30 metres.
Hole EV21-09, which tested an area along the eastern boundary of the W4 Zone, outside of the previously identified nickel mineralization from the historic exploration, represents a significant, near surface intercept demonstrating potential to expand the known mineralization along the edges and at depth in the W4 Zone.
A short drill interval of nickel sulphide mineralization identified in EV21-14, approximately 85 metres west of the interpreted western boundary of the W4 Zone, indicates that the stratigraphic horizon hosting the W4 Zone continues to be a fertile geological sequence with the potential to host additional nickel sulphide mineralization.
This favourable stratigraphic horizon will form a portion of the planned diamond drilling in the Phase 2 program.
Paul Davis, VP Exploration, stated: "The strong results of the Phase 1 drill program confirmed the potential of the Langmuir Project to host high grade, high nickel tenor, near surface nickel sulphide mineralization. The intersection of nickel sulphide mineralization to the west of the W4 Zone indicates that the komatiitic ultramafic sequence associated with the W4 Zone, both to the east and west of the observed mineralized zone, remains sulphide saturated with the potential to host additional nickel sulphide zones that will be explored during the Phase 2 drill program."
Sean Samson, President & CEO, added: "Our first priority at EV Nickel is finding more nickel at Langmuir and this confirmation of the mineralization to the east and west of W4 starts us down that path."
The complete results of the Phase 1 drill program are included in this table, with the second half results in bold.
The company started trading on December 3rd, following an IPO which raised $5.4 million.
The shares are trading at $0.40.
For more information, please visit the company’s website, www.EVnickel.com, or contact Sean Samson, CEO, at info@EVnickel.com.
I’m Katriina Cotten for Investmentpitch Media
