EV Nickel Initiates Drilling on the High-Grade W4 Zone, focused on the East Side of the Mineralization, to be Incorporated into the Upcoming Resource
EV Nickel Initiates Drilling on the High-Grade W4 Zone, focused on
the East Side of the Mineralization, to be Incorporated into the
Upcoming Resource
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE
SERVICES
• Phase 4 drilling began this week targeting the eastern portion of the W4 Extension
(discovered in 2022) and to accumulate additional metallurgical samples
TORONTO, ON / ACCESSWIRE / February 9, 2023 / EV NICKEL INC. (TSX-V: EVNI)
("EVNi" or the "Company") is pleased to announce that it has begun the Phase 4 drilling
campaign, back at the High-Grade W4 Zone forming part of its Shaw Dome Project (see figure
1).
The Company has engaged with Timmins-based, NPLH Drilling to begin its Phase 4 drill hole
program, targeting the eastern expansion of the W4 Extension. The Phase 2 drilling program
completed in 2022, began to define the W4 Extension and identified significant previously
undiscovered nickel mineralization on the eastern most section (Section 497400mE), including
20.6 metres grading 1.23% Ni in EV22-17 and 15.70 metres grading 0.90% Ni in EV22-18 (see
press release dated September 6, 2022). This drilling has started on a section 50 metres east of
section 497500mE, targeting the interpreted plunge of the High-Grade nickel mineralization
forming the W4 Extension. Additional holes will be drilled into the deposit to provide over 1000
kg of the W4 Zone as part of the ongoing metallurgical studies.
Assay results are anticipated for the Phase 4 drill program in early Q2.
"Results from the Phase 2 program were so positive that further drilling was required to truly
define the size potential of the W4 Extension," said Paul Davis, Vice President Exploration.
"Phase 4 has been designed to step out to the east from the identified mineralization on the W4
Extension. The Phase 4 program may be expanded further to the east, or at depth, depending on
the results of the drilling. Every additional section of mineralization that EVNI identifies to the
east on the W4 Extension will significantly impact the size potential of the Updated Resource
Estimate that we plan to have completed on the overall W4 Zone later this year."
About EV Nickel Inc.
EV Nickel's mission is to accelerate the transition to clean energy. It is a Canadian nickel
exploration company, focussed on the Shaw Dome Project, south of Timmins, Ontario. The
Shaw Dome includes the W4 Zone, the basis of a 2010 historical estimate of 677K tonnes @
1.00% Ni, ~15M lbs of Class 1 Nickel. EV Nickel plans to grow and advance a Clean Nickel ™
business, targeting the growing demand from the electric vehicle battery sector. EV Nickel has
over 30,000 hectares to explore across the Shaw Dome and has identified >100 km of additional
favourable strike length. The Company is focused on a 2-track strategy: Track 1- to produce
High-Grade Clean Nickel ™ (starting with W4) and Track 2- an integrated Carbon Capture &
Storage project with Large-Scale Clean Nickel TM production (starting with CarLang).
Qualified Person
The Company's Projects are under the direct technical supervision of Paul Davis, P.Geo., and
Vice-President of the Company. Mr. Davis is a Qualified Person as defined by NI 43-101. He
has reviewed and approved the technical information in this press release. There are no known
factors that could materially affect the reliability of the information verified by Mr. Davis.
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking information. Such forward-looking statements or
information are provided for the purpose of providing information about management's current
expectations and plans relating to the future. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. Any such forward-looking information
may be identified by words such as "anticipate", "proposed", "estimates", "would", "expects",
"intends", "plans", "may", "will", and similar expressions. Forward-looking statements or
information are based on a number of factors and assumptions which have been used to develop
such statements and information, but which may prove to be incorrect. Although EV Nickel
believes that the expectations reflected in such forward-looking statements or information are
reasonable, undue reliance should not be placed on forward-looking statements because the
Company can give no assurance that such expectations will prove to be correct. Factors that
could cause actual results to differ materially from those described in such forward-looking
information include, but are not limited to, changes in business plans and strategies, market
conditions, share price, best use of available cash, the ability of the Company to raise sufficient
capital to fund its obligations under various contractual arrangements, to maintain its mineral
tenures and concessions in good standing, and to explore and develop its projects and for general
working capital purposes, changes in economic conditions or financial markets, the inherent
hazards associated with mineral exploration, future prices of metals and other commodities,
environmental challenges and risks, the Company's ability to obtain the necessary permits and
consents required to explore, drill and develop its projects and if obtained, to obtain such permits
and consents in a timely fashion relative to the Company's plans and business objectives,
changes in environmental and other laws or regulations that could have an impact on the
Company's operations, compliance with such laws and regulations, the Company's ability to
obtain required shareholder or regulatory approvals, dependence on key management personnel,
natural disasters and global pandemics, including COVID-19 and general competition in the
mining industry. These risks, as well as others, could cause actual results and events to vary
significantly. The forward-looking information in this press release reflects the current
expectations, assumptions and/or beliefs of EV Nickel based on information currently available
to the Company. Any forward-looking information speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company disclaims any intent
or obligation to update any forward-looking information, whether as a result of new information,
future events or results or expressly qualified by this cautionary statement.
Contact Information
For further information, visit www.evnickel.com
Or contact: Sean Samson, Chief Executive Officer at [email protected].
EV Nickel Inc.
200 - 150 King St. W,
Toronto, ON M5H 1J9
www.evnickel.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this
release.
SOURCE: EV Nickel Inc.