EV Nickel (TSXV:EVNI) is looking to fill the huge demand for the base metal. The company’s prospective Langmuir Nickel project is a high-grade nickel sulfide project with a historical resource with 30 kilometers of additional strike length on the property. EV Nickel boasts a significant land package of approximately 9,100 hectares that is strategically located in the Shaw Dome, near multiple nickel end users, including Tesla (NASDAQ:TSLA), Detroit Peers, NIO (NYSE:NIO), SBE Canada and Rivian Automotive (NASDAQ:RIVN).
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In 2022, analysts are predicting that nickel prices will remain strong or at high levels despite a rocky first half of 2021. Driving this demand is predominantly stainless steel, with electric vehicle batteries continuing to pick up pace. However, not all nickel is created equal when it comes to batteries. The only type qualified for use in electric vehicle batteries is Class 1 nickel, which is usually found in sulfide deposits and has a much higher nickel content.
Twenty-five kilometers southeast of Timmins, EV Nickel (TSXV:EVNI) is looking to fill the huge demand for the base metal. The company’s prospective Langmuir Nickel project is a high-grade nickel sulfide project with a historical resource with 30 kilometers of additional strike length on the property. EV Nickel boasts a significant land package of approximately 9,100 hectares that is strategically located in the Shaw Dome, near multiple nickel end users, including Tesla (NASDAQ:TSLA), Detroit Peers, NIO (NYSE:NIO), SBE Canada and Rivian Automotive (NASDAQ:RIVN).
The Langmuir Nickel project is located in the Shaw Dome, a prospective nickel belt region that bears a strong resemblance to the Kambalda Dome in Western Australia that mined ~51Mt grading 3.1 percent nickel from 1968 to 2020. The Shaw Dome hosts Kambalda-style nickel sulfide mineralization occurring in ultramafic flows and sills. Eighty square kilometers of historical, favorable komatiitic units are found within EV Nickel’s property. EV Nickel announced its intent to acquire 1,088 claims1,088 claims, over almost 21,000 hectares of prospective land, from a private vendor located mainly in the highly prospective Shaw Dome to the north, west and south of the Langmuir Project.
The company is fully focused on three fronts: to find more nickel at Langmuir, secure more land in the Shaw Dome and create a Clean Nickel™ business.
The Langmuir Nickel project is a prospective and high-grade nickel located in the Shaw Dome in Ontario, Canada. The project is located approximately twenty five kilometers from Timmins, an established mining camp with clean hydroelectric power. The property spans 9,100 hectares, including 30 kilometers of identified strike length. The Langmuir Nickel project has access to power lines and a road with proximity to multiple nickel end-users, including Tesla (NASDAQ:TSLA), Detroit peers, NIO Inc. (NYSE:NIO), SBE Canada Ltd. and Rivian Automotive Inc. (NASDAQ:RIVN).
EV Nickel released assay results from its initial drilling program in December 2021, and plans for 2022 include continuing drilling, conducting metallurgical testing and identifying a resource.
Historical mineral resources for the Langmuir Nickel Property:
EV Nickel has applied for the trademark Clean Nickel™ across several jurisdictions as a step towards the company’s commitment to develop zero-carbon production of Nickel. Clean Nickel™ refers to zero-carbon production and this is central to the business EVNi intends to develop on the Shaw Dome.
Sean Samson is a mining executive with more than 20 years of management and financial experience. Most recently, he was the vice president and head of corporate development at FNI Mining for four years. At FNI Mining, he spent six months as interim COO in which he was responsible for safety, mine development and operations at a 250-person underground mine near Sudbury, Ontario. In 2012, he won the Canadian Young Mining Leader award from the CIM. Before FNI, he was the vice president of commercial development at Kinross Gold Corporation for five years. At Kinross Gold Corp., he had diverse, multi-functional responsibilities, including supply chain, energy, merger integration, enterprise risk and capital approvals. Samson led a team of more than 300 people across eight countries at Kinross Gold Corp. Before Kinross Gold Corp., he was a management consultant at Bain & Company and he traded for investment banks in New York and Europe. Samson received an A.B. from Harvard University and an MBA from Cambridge University. He has also completed his Surface Miner Common Core in Ontario. He is a past elected PDAC board member and a Cleantech advisor at MaRS which is a Toronto-based Innovation Centre.
Travis Gingras has more than 20 years of experience in finance, strategic planning, project management, accounting policy and financial reporting. Gingras previously held CFO and executive-level positions at many publicly-traded exploration and mining companies, including the CFO of Integra Gold Corp (formerly TSXV:ICG, purchased by Eldorado Gold in 2017). Gingras is a CPA, CMA and received his Bachelor of Commerce and MBA from UBC.
Paul Davis has over 30 years of executive, exploration and mine management experience for large multinational and junior companies. Most recently, Davis was the vice president of exploration at FNI Mining. Throughout his career, he has headed mining and exploration teams in the discovery, development and mining of projects in Canada, Finland, Australia and Peru. Davis had several responsibilities, including scoping and feasibility studies, project and mine permitting, environmental compliance and reporting, off-take and acquisition agreement negotiation, due diligence analysis and economic models. Davis also has direct experience in other corporate functions including budgeting, financing, investor relations and regulatory reporting and compliance. Davis graduated from the University of Western Ontario with a Bachelor of Science in Honors Geology and from the University of Alabama with a Master of Science in Economic Geology.
Mike Silver has more than 15 years of experience in finance and investment banking. Silver has worked in executive roles at Canadian and foreign banks and brokers. Silver has extensive transaction experience and contacts across the mining business/ Silver graduated from Dalhousie University with a Bachelor of Commerce and from RSM Erasmus with an MBA.
Linda Byron owns Blue Heron Environmental which is based in Timmins. Byron is a professional environmental scientist with more than 30 years of experience. She has been instrumental in the implementation of certified environmental management systems at large base-metal mining companies in Northern Ontario. Byron also assisted industries with permitting efforts as well as the development and implementation of compliance and training programs for mining operations in Canada and abroad. Byron has extensive operational expertise in practical and real-life environmental issues encountered in the mining industry. She graduated from Laurentian University with an Honors Bachelor of Science.
Michael Fox is president of Indigenous Community Engagement which is based in Fort William First Nation in northwestern Ontario. Fox has dedicated his career to building Aboriginal participation and partnerships. He obtained an honors degree in Political Science with a focus on Aboriginal Law & Resource Development from Lakehead University and an MBA from the University of Fredericton. Fox is a past elected PDAC board member and is originally from Weenusk First Nation.
Gadi Levin has been an officer and director of many publicly-traded Canadian resource companies. He began his career in public accounting at Arthur Anderson and Ernst & Young. Levin is also a certified chartered accountant in South Africa. Levin holds undergraduate degrees from the University of Cape Town and the University of South Africa and an MBA from Bar Ilan University.
Stephen Delaney is a managing director and the head of investment banking at Eight Capital which is an independent Canadian investment dealer. Before joining Eight Capital, he was the managing director of investment banking at Beacon Securities. Before that, he worked at Paradigm Capital and GMP Securities. Delaney holds a Bachelor of Arts from Dalhousie University.
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to announce that it has now closed its previously announced acquisition of properties (the "Acquisition") within and to the south of the Shaw Dome, spread across 12 townships (the "Acquisition Package" or the "Shaw Dome Acquisition Properties") incorporating 1,088 staked mining claims over almost 21,000 hectares of prospective land
The Acquisition Package was acquired from 2812794 Ontario Inc. (the "Vendor"), a privately held mineral exploration company that is arms length from EVNi. The purchase price for 100% ownership of the Acquisition Package was $350K cash (the "Cash Consideration"), $100k of which was paid to the Vendor pursuant to a letter of intent signed in 2021, plus 2.5 million EVNi shares (the "Consideration Shares") issued at closing of the Acquisition.
In addition to the Cash Consideration and Share Consideration, EVNi and the Vendor and entered into a 2.75% net-smelter royalty agreement (the "Shaw Dome Royalty Agreement") with respect to certain Shaw Dome properties and a 2.75% net-smelter royalty agreement (the "Groves Royalty Agreement", together with the Shaw Dome Royalty, the "Royalty Agreements") with respect to the Groves properties. Pursuant to the Royalty Agreements, EVNi may re-purchase 50% of the royalties granted thereunder for $1,850,000 in the case of the Shaw Dome Royalty Agreement and $1,500,000 in the case of the Groves Royalty Agreement.
The Consideration Shares have been placed in escrow pursuant to an escrow agreement entered into between the Company, the Vendor and an escrow agent, pursuant to which one-third of the Consideration Shares will be released on the date that is six months following the closing date, one-third of the Consideration Shares will be released on the date that is twelve months following the closing date, one-third of the Consideration Shares will be released on the date that is eighteen months following the closing date.
The Company is now focussed on continuing to review the available historical data, including re-processing airborne and ground geophysical surveys to help prioritize targets and applyiying for exploration permits. EV Nickel plans to be drilling the most promising targets, across the Shaw Dome Acquisition Properties, 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 area, south of Timmins, Ontario. The Shaw Dome area is home to its Langmuir Project which includes W4, 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 and has identified >100km of additional favourable strike length.
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 "proposed", "plans", "expects", "intends", "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 and complete the Acquisition Project, drill and develop its projects including those required to complete the Transaction, 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 samson@evnickel.com.
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.
News Provided by ACCESSWIRE via QuoteMedia
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to report the assay results for the full Phase 1 drill program on the Langmuir Nickel Project ("Langmuir" or the "Property"). Building off of the first half results shared in December (see December 8, 2021 News Release), Rogue continues to identify high-grade mineralization along trend of the W4 Zone
Phase 1 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. Phase 1 totalled 20 holes, comprising 4,192 metres of diamond drilling.
Hole EV21-09 intersected 15.7 metres grading 1.14% Ni starting at a drill depth of 123.30 metres, testing an area along the eastern boundary of the W4 Zone, outside of the previously identified nickel mineralization from the historic exploration. Hole EV21-09 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.
"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." states Paul Davis, EVNi's Vice President of Exploration. "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."
"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," said Sean Samson, President & CEO of EVNi.
The complete results of the Phase 1 drill program are included in Table 1 (second half results in bold):
Detailed location and depth details of the Phase 1 drill program are in Table 2 and are plotted on Figure 1.
Upcoming Release of Drilling Information
EVNI plans to provide the full details of the Phase 2 drilling plan next week.
Assay QA/QC
Drill core samples from the 2021 drill program at the Langmuir Project are cut and bagged at the core logging facility located near the property and transported to ALS Canada Ltd 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 laboratory. 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. 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 area, south of Timmins, Ontario. The Shaw Dome area is home to its Langmuir project which includes W4, 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 almost 9,100 hectares to explore across the Shaw Dome and has identified 30km of additional favourable strike length.
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 the Langmuir project's 2010 historical estimate:
Historical mineral resources for Langmuir were estimated by SRK Consulting (Canada) Inc., as documented in a report entitled, "Golden Chalice Resources Inc., Mineral Resource Evaluation, Langmuir W4 Project, Ontario, Canada", dated June 28, 2010 (the "Historical Report"). A qualified person, as defined by NI 43-101, has not done sufficient work to verify the historical assay results and technical information reported herein. The Company is not treating the Historical Report as current. The reader is cautioned not to rely upon any of the Historical Report, or the estimates therein. The historical estimates are presented herein as geological information only, as a guide to follow-up technical work, and for targeting of confirmation and exploration drilling.
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 "proposed", "expects", "intends", "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 info@evnickel.com.
EV Nickel Inc.
200 - 150 King St. W,
Toronto, ON M5H 1J9www.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.
News Provided by ACCESSWIRE via QuoteMedia
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES
EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to announce that exploration drilling on the Langmuir Nickel Project ("Langmuir" of the "Property") from the inaugural drill program with significant intersections from within and along the eastern and western boundaries of the W4 Nickel Zone
Since June 2021, a total of 20 holes representing 4,192 metres of diamond drilling on the Langmuir Nickel Project. Assay results for 10 holes of the 2021 exploration drill program are reported in the Table 1 below. Drill hole information including the location of the collars, dip and azimuth of the holes and the final depth are provided in Table 2.
"We are very excited to start getting assay results and these begin to confirm our excitement for the potential of the Langmuir Project and the Shaw Dome more broadly," said Sean Samson, President & CEO of EVNi "This is a district which has produced nickel with the sorts of grades that get turned into mines."
"I am extremely encouraged by the mineralization observed within the W4 Zone," states Paul Davis, EVNi's Vice President of Exploration. "The unique characteristics of this deposit with a lower magnetic susceptibility and disseminated sulphides with a high nickel tenor opens up additional priority targets for exploration on the Langmuir Property. We are gearing up to start our Phase 2 drill program testing additional high priority targets along the favourable geologic trends to the east and west of W4."
The drill program was designed to test gaps within the W4 Zone historic drilling and provide EVNI with representative intersections of the W4 mineralization, test the eastern and western boundaries of the W4 Zone and explore the favourable ultramafic horizon to the east and west of the W4 mineralization.
Drilling within the W4 Zone intersected significant nickel mineralization associated with disseminated, blebby, veined and massive sulphides hosted in a serpentinized ultramafic unit including 40.2 metres grading 0.68% Ni in hole EV21-08; 17.10 metres grading 0.91% Ni in EV21-02; and 1.11 metres grading 8.66% Ni in EV21-01. These results confirm the high-grade nature of the sulphides mineralization associated with the W4 Zone. EV Nickel has implemented the analysis of sulphur for all drill core samples, allowing the Company to determine the nickel tenors, (nickel content in 100% sulphide) that have been calculated between 18% to >40% within the W4 Zone. This indicates that significant nickel mineralization is associated with low sulphide concentrations of less than 5% sulphide within the host ultramafic host. Assay results are pending for 10 holes of the Phase I drill hole program.
The type of nickel mineralization associated with the W4 Zone is not typical of the other nickel deposits hosted within the Shaw Dome, south of Timmins, Ontario. The sulphide composition of the mineralized zones is composed almost exclusively of pentlandite resulting in significant nickel grades being associated with low sulphide contents. The sulphide mineralization is also finely disseminated within the zone and has led the Company to expand the sampling in holes EV21-01 and EV21-10 to include intersections adjacent to those reported in Table 2 for which the assays are still pending. This style of mineralization also presents with a different geophysical signature than the traditional deposits and opens up additional target areas within the Langmuir Property.
Assay QA/QC
Drill core samples from the 2021 drill program at the Langmuir Project are cut and bagged at the core logging facility located near the property and transported to ALS Canada Ltd for analysis. Samples, along with standards and blanks that are included for quality assurance and quality control, were prepared and analyzed at the laboratory. 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. 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 is a Canadian nickel exploration company, focused on the Shaw Dome area, south of Timmins, Ontario. The Shaw Dome area is home to its Langmuir project which includes W4, the basis of a 2010 historical estimate of 677K tonnes @ 1% Ni, ~15M lbs of Class 1 Nickel. EV Nickel's objective is to grow and advance a nickel business, targeting the growing demand for Class 1 Nickel, from the electric vehicle battery sector. EV Nickel has almost 9,100 hectares to explore across the Shaw Dome and has identified 30km of additional favourable strike length.
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 the Langmuir project's 2010 historical estimate:
Historical mineral resources for Langmuir were estimated by SRK Consulting (Canada) Inc., as documented in a report entitled, "Golden Chalice Resources Inc., Mineral Resource Evaluation, Langmuir W4 Project, Ontario, Canada", dated June 28, 2010 (the "Historical Report"). A qualified person, as defined by NI 43-101, has not done sufficient work to verify the historical assay results and technical information reported herein. The Company is not treating the Historical Report as current. The reader is cautioned not to rely upon any of the historical report, or the estimates therein. The historical estimates presented herein as geological information only, as a guide to follow-up technical work, and for targeting of confirmation and exploration drilling.
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 "proposed", "expects", "intends", "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 samson@evnickel.com.
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.
News Provided by ACCESSWIRE via QuoteMedia
Managing Director Steven Turner said:“These results confirm the exceptional grades of both tin and tungsten that are characteristic of this mine and underpin the attractiveness of restarting operations as soon as possible. San Finx is a historically producing mine with simple metallurgy and a track record of selling high-grade clean concentrates under contract. Work is continuing with the JORC compliant mineral resource estimate, and these results will be incorporated into that study. The Board looks forward to updating the market with the final report in Q3 2022.”
Assay results from 3 deep DDH, drilled by previous owners
Rafaella Resources has received assay data from the three DDH re-coded as 15DDPN01 (PN01), 15DDPN02 (PN02) and 15DDPN03 (PN03) which were drilled by Valoriza with the objective of expanding resources at depth for the underground operation. Figure 1 shows the location of the drillholes and of the underground development projections.
Figure 1. San Finx Sn-W deposit showing the mineralized zones at surface and the projection of the underground development for the zones of Buenaventura and Pozo Nuevo. Collar and projection of DDH PN01, PN02 and PN03.
Table 1 is showing drillhole coordinates, depth and downhole survey.
A total of 71 samples from the 3 DDH, including QA/QC (blanks, standards and duplicates from both, pulps, and coarse rejects) were submitted to ALS preparation laboratory in Seville.
All intercepts above 0.25% cut-off (combined Sn + WO3) have been calculated, as shown in table 2. True thickness factor has been applied according to the angles measured directly from core.
Cu assay returned an average grade of 0.30% Cu within the 0.25% Sn+WO3 cut-off intervals, suggesting that the mine could generate credits from a by-product sulphide concentrate.
The mineralised veins intersected generally correspond with the NE system, showing high core angles, Corrections ranging between 0.50 and 0.95 have been applied for the true thickness factor. Note that for the shallower mineralised veins intersected by DDH 15DDPN01, drilled in the NE extreme of the Pozo Nuevo Zone and that corresponds with the NNE trending Campelo-Silva vein system, the true thickness factor applied was much higher due to the low angle that such veins have been intersected.
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This article includes content from Rafaella Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Below the Investing News Network has listed the top nickel stocks on the TSX and TSXV by share price performance so far this year. All year-to-date and share price data was obtained on June 20, 2022, using TradingView’s stock screener. The top nickel stocks listed had market caps above C$10 million at that time.
Year-to-date gain: 34.69 percent; market capitalization: C$40.11 million; current share price: C$0.33
Garibaldi Resources is an explorer focused on its high-grade Nickel Mountain project in BC, Canada. According to the company, it discovered Northwest BC’s first magmatic nickel massive sulfide, which is within the E&L intrusion at Nickel Mountain. The discovery contains seven metals, including nickel, copper and cobalt. Exploration highlights include 8.3 percent nickel, 4.3 percent copper and 0.19 percent cobalt over 16.75 meters.
Garibaldi released results from a 2021 ZTEM survey at Nickel Mountain on March 31. According to the release, “the large ZTEM response beneath E&L greatly expands the potential for further discovery beneath and around E&L.” In the week following this news, company shares jumped to a year-to-date high of C$0.63 on April 4. Since then, the company has released follow-up information about the ZTEM results, including the identification of a new pipe-like target, and has announced the purchase of an additional mineral tenure that is contiguous with its Red Lion project.
Garibaldi’s most recent news came on May 13, when it announced that exploration at the Casper quartz gold vein discovery showed 30 grams per MT gold, after which the company saw a small share price spike.
Year-to-date gain: 30 percent; market capitalization: C$15.84 million; current share price: C$0.13
Grid Metals is a nickel explorer and developer working out of Canada’s Manitoba and Ontario provinces. The company holds a portfolio of five projects that all tie into its goal of targeting the battery metals industry. Grid’s flagship project is its Makwa Mayville nickel-copper project, which also hosts platinum-group metals and cobalt mineralization. Near Makwa Mayville is Grid’s Mayville lithium property. The company is also exploring the Donner Lake lithium project.
The company’s share price rose with nickel to hit a year-to-date high of C$0.23 on March 10. On March 11, it released drill results from its Bannockburn nickel property; the best result was 341.7 meters averaging 0.28 percent nickel. Since then, Grid has released exploration results for two drill holes at Donner Lake and 14 at Makwa Mayville. Grid released further positive news at Donner Lake that extended the Northwest Dyke target, which started a share price gain that met its previous high on May 3; it shared the discovery of new high-grade lithium at the project on May 12.
On June 7, Grid Metals and Canada Nickel Company (TSXV:CNC,OTCQX:CNIKF)announced that Grid would be selling Bannockburn to the latter company. In return, Grid Metals will receive 2 million Canada Nickel common shares.
Year-to-date gain: 25.64 percent; market capitalization: C$200.63 million; current share price: C$0.49
Sherritt International is a miner, producer and refiner of high-purity nickel and cobalt, and its primary focus is nickel. The company operates a mine in Cuba and a refinery in Alberta, both of which are part of its 50/50 Moa joint venture with Cuba’s General Nickel Company. The vertically integrated joint venture has a capacity of 35,000 tonnes of nickel and 3,800 tonnes of cobalt produced per year.
In February, Sherritt released its 2021 production results and 2022 guidance. Among other details, the company revealed it expects a production increase for nickel, from 31,184 tonnes in 2021 to guidance of 32,000 to 34,000 tonnes for this year. On March 1, the company announced the appointment of decarbonization expert Chih-Ting Lo to its board of directors, and also named Maryse Bélanger as deputy chair. The focus of these changes is to strengthen Sherritt's commitment to environmental, social and governance matters.
Sherritt’s share price shot up alongside the nickel price to reach a high of C$0.82 on March 10. On May 11, the company shared its first quarter results, including its portion of finished nickel production at Moa of 3,875 MT.
Year-to-date gain: 25 percent; market capitalization: C$104.24; current share price: C$1.25
Unlike the other companies on this list, Nickel 28 Capital is a streaming and royalty company focused on battery metals, primarily nickel and cobalt. The company has an 8.56 percent joint venture interest in the Ramu nickel-cobalt operation in Papua New Guinea, as well as royalty agreements for 13 nickel and cobalt projects.
The company hasn’t released much news thus far in 2022. On February 1, it shared full-year and Q4 2021 operating results for the Ramu project, including annual output of 31,594 MT of contained nickel and sales of 32,793 MT. Although Nickel 28 didn’t release more news until May 9, its share price has trended upwards this year, with a spike in early March and steady growth in April. It hit its year-to-date high of C$1.73 on April 20, but fell off in early May.
On May 9, the company shared its Q1 results for Ramu, with production of 8,756 MT of contained nickel and sales of 3,336 MT. Nickel 28's share price saw a small spike in early June, which it maintained through the June 1 release of its results for the 2021 financial year, including repayment of US$38 million of debt. Its share price has fallen again recently, but it is still up year-to-date.
Year-to-date gain: 20 percent; market capitalization: C$127.36 million; current share price: C$0.60
FPX Nickel is a nickel company developing its flagship Decar Nickel District in BC, at which its main focus is the Baptiste deposit. It has recently begun exploring the Van deposit at the same property. It also has 100 percent ownership of three other nickel projects in BC and one in Canada's Yukon.
FPX’s share price soared in early March alongside the nickel price and on the release of news that the company had appointed a new principal metallurgist; the firm hit a year-to-date high of C$0.87 on March 8. Other March news includes drill results at Baptiste and the creation of a subsidiary called CO2 Lock to pursue carbon capture technology.
The majority of FPX's news since then has focused on Decar. On May 24, the company shared plans for an exploration drilling program at the Van target. At the Baptiste deposit, the company announced positive findings for the use of carbon capture technology for tailings at the site, as well as news on engineering trade-off studies at the site.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Nickel Company and FPX Nickel are clients of the Investing News Network. This article is not paid-for content.
Talon Metals Corp. (TSX: TLO) ("Talon" or the "Company") is pleased to announce the results of its annual and special meeting of shareholders ("AGM") held today.
All of the nominee directors listed in Talon's management information circular dated May 24, 2022 were elected as directors. The results of the shares voted in respect of the election of each director were as follows:
| Name of Nominee | Votes For | Votes Withheld | ||
| David L. Deisley | 398,816,540 | (99.89%) | 450,041 | (0.11%) |
| Arne H. Frandsen | 398,783,269 | (99.88%) | 483,312 | (0.12%) |
| John D. Kaplan | 370,882,906 | (92.89%) | 28,383,675 | (7.11%) |
| Gregory S. Kinross | 381,594,899 | (95.57%) | 17,671,682 | (4.43%) |
| Warren E. Newfield | 398,921,608 | (99.91%) | 344,973 | (0.09%) |
| Henri van Rooyen | 398,799,189 | (99.88%) | 467,392 | (0.12%) |
| David E. Singer | 383,509,594 | (96.05%) | 15,756,987 | (3.95%) |
| Frank D. Wheatley | 398,792,735 | (99.88%) | 473,846 | (0.12%) |
Furthermore at the AGM, shareholders of the Company, (i) by a majority of votes cast, excluding the votes attaching to the common shares of the Company held by insiders and their associates, approved the issuance of all unallocated options issuable, from time to time, under the Company's stock option plan until June 22, 2025, and (ii) voted in favour of appointing MNP LLP as auditors of the Company for the ensuing year and authorizing the directors to fix their remuneration.
ABOUT TALON
Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon's shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex, and (iii) exploring the prospects for significant carbon storage in the ultra-mafic rocks that comprise the Tamarack Intrusive Complex through carbon mineralization. Talon has an agreement with Tesla Inc. to supply it with 75,000 metric tonnes (165 million lbs) of nickel in concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over an estimated six-year period once commercial production is achieved. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams.
For additional information on Talon, please visit the Company's website at www.talonmetals.com or contact:
Sean Werger
President
Talon Metals Corp.
Tel: (416) 361-9636 x102
Email: werger@talonmetals.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128599
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