EV Nickel Phase 3 Drilling Results: The A Zone Continues to Deliver and Covers Less Than 15% of the Potential CarLang Trend
EV Nickel Phase 3 Drilling Results: The A Zone Continues to
Deliver and Covers Less Than 15% of the Potential CarLang Trend
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR
TO US WIRE SERVICES
• Reports assay results from 3 additional holes, Intersections included:
o hole EV22-29 with 262.6m grading 0.25% Ni,
o hole EV22-30 with 259.7m grading 0.26% Ni, and
o hole EV22-32 with 200.4m grading 0.25% Ni.
• The CarLang Area is a >10km prospective trend of dunitic units,
confirmed by historic exploration work
• EVNi drilled 1.4km of the prospective strike this summer, with 28 holes
totalling 8,295m, the A Zone
• Assays are pending for the remaining 17 holes and will be used in a
CarLang A Zone Preliminary Resource, already underway and planned
for release in Q1 2023.
TORONTO, ON / ACCESSWIRE / December 7, 2022 / EV NICKEL INC. (TSX-
V:EVNI) ("EVNi" or the "Company") is excited to announce the additional assay results, from
3 more holes of the Phase 3 Drilling program completed this summer, over the Large-Scale
nickel target in the northeast of its Shaw Dome Project, referred to as the Carman-Langmuir or,
"CarLang Area". These assays continue to confirm the new "CarLang A Zone" as a potential
Large-Scale nickel prospect (for prior results, see news releases dated October 24 and November
28, 2022).
The Company has also completed a full review of the historical exploration drilling conducted in
the area from publicly available assessment reports. Well respected exploration groups including
teams from Inco Ltd (now part of Vale NYSE: VALE) and Outokumpu Mines Ltd
("Outokumpu", HELSINKI: OUT1V) completed limited drilling around the CarLang Area and
their reports are available through GeologyOntario. From reviewing the historic reports it is clear
that the prospective dunite-peridotite rocks associated with the known Large-Scale mineralized
zones are traceable for approximately 10 kilometres within the EVNi property boundaries. 18 of
the 32 holes reviewed bottomed in peridotite-dunite and did not test the full thickness of the
sequence. Outcrop continues along the trend and based on the historic drill-logs, the CarLang
Area, like the A Zone, seems to have significantly less overburden than other deposits in the
Timmins region.
"The enormous potential of the CarLang Area is beginning to come into focus for our team. The
combination of continued strong assays from our summer drilling of the A Zone, plus the
excellent historic drilling up and down the trend at CarLang-show us that we are really just
getting started with the potential discoveries," said Sean Samson, President & CEO. "This
Large-Scale mineralization is near surface, seems to continue a long way and, we're only
drilling down 250m. The maiden resource on the CarLang A Zone and an updated resource on
the High-Grade W4 Zone should be very exciting in the first half of next year."
Since 1965, there have been 32 diamond drill holes that intersected EVNi's priority large scale
targets in the CarLang Area (see Figure 2). Information on the drilled lithologies confirm the
presence of thick sequences of peridotite-dunite along the mapped and interpreted >10km of
prospective strike length contained within the CarLang Area. Figure 2 plots the location of the
historic diamond drill holes in relation to the current geological interpretation. Holes have been
categorized based upon the drilled thickness of the peridotite-dunite bodies and identifies holes
that were stopped while still in the favourable peridotite-dunite units. Given the historic nature of
the drilling and the challenges related to locating historic drill holes, the locations as plotted on
the figure have some degree of variability, however demonstrate the continuity of the prospective
units.
In addition, Surface Grab Samples were completed by Outokumpu from 1993 to 1996 (see
Figure 3) and these highlighted the promising mineralization of the CarLang Trend. The drilling
completed last summer identified the CarLang A Zone, covering 1.4km 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 greater than 500 metres based
upon the Phase 3 diamond drill program, airborne geophysical surveys and surface outcrop
exposures.
This summer with Phase 3, EVNi completed 28 holes representing 8,295m of diamond drill core
across the CarLang A Zone The drilling was focused in an area where eight EVNi Surface
Samples were taken earlier this year, which averaged 0.26% Ni (wt%). The Company had
decided to test the CarLang A Zone to a vertical depth of only 250 metres. EVNi interprets that
the host dunites extend below the current drill depth as indicated by multiple holes bottoming in
the dunitic body including 7 of the 11 holes that have been press released so far.
"Historic drilling in the CarLang Area has identified that the host dunitic bodies extend beyond
450 metres in vertical depth." said Paul Davis, Vice President Exploration, "However, we believe
that operationally any future nickel mine would first continue along trend, instead of mining
twice as deep."
Assay results continue to intersect thick sequences of dunite hosting large-scale, broad zones of
nickel mineralization. The Phase 3 drill program confirms the continuity of the dunitic body
along the full strike length of the CarLang A Zone, consistent with the Company's original
interpretation of the area. Assays are pending on the remaining 17 holes and are expected to be
received through the coming weeks and all analyses are scheduled to be completed by the end of
January 2023. Work on the Preliminary Resource Estimate for the CarLang A Zone has begun
and results are anticipated in first quarter of 2023.
Favourable Project Characteristics
The CarLang Area has many favourable characteristics including: easy accessibility by road with
significant outcrop exposure of the dunitic rocks across the property; recent logging activity has
exposed additional outcrop and developed a network of gravel access roads; and the interpreted
thickness of the overburden covering the CarLang A Zone is estimated to average less than 5
meters based upon the recent Phase 3 drill hole program, with a significant portion sub-cropping
to surface with less than 1 metre of overburden.
When these factors are combined, the Company believes that the CarLang Area is well
positioned for any future development and will rise to the top of the areas of interest for Large-
Scale nickel projects.
Assay QA/QC
Drill core samples from EVNi drilling at the Shaw Dome Project are cut or whole core sampled
and bagged at the core logging facility located near the Shaw Dome Project and transported to
ALS Canada Ltd. ("ALS") and SGS Canada Inc. ("SGS") for analysis. Samples, along with
certified standards and blanks, that are included by the Company for quality assurance and
quality control, were prepared and analyzed at the laboratories . At ALS, samples are crushed to
70% less than 2mm. A riffle split is pulverized to 85% passing 75 microns. Nickel, copper,
cobalt and sulphur are analyzed by sodium peroxide fusion with an ICP finish and platinum,
palladium and gold by fire assay and ICP-AES finish. At SGS, samples are crushed to 75% less
than 2mm. A riffle split is pulverized to 85% passing 75 microns. Nickel, copper and cobalt are
analyzed by sodium peroxide fusion with an ICP-AES finish, platinum, palladium and gold by
fire assay and ICP-AES finish and sulphur by Leco. These and future assay results may vary
from time to time due to re‒analysis for quality assurance and quality control.
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 nickel business,
targeting the growing demand for Class 1 Nickel, 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 with High-
Grade (starting with W4) and Large-Scale targets (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