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EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") continues to target the large-scale nickel potential of its Carman-Langmuir Zone located in Carman and Langmuir Townships, approximately 30 km southeast of Timmins, Ontario (for further detail, please see May 17, 2022 news release
The Company has more than 30,000 hectares to explore and has identified more than 100km of favourable strike length.
Historically, the district produced from the Redstone, Langmuir #1 & #2, and McWatters mines, with grades ranging from 0.5% Ni (McWatters) to 2.14% Ni (Redstone). In addition to this production, the Shaw Dome hosts the Hart Deposit and EVNi's W4 Zone, plus the permitted Redstone and Carshaw mills (as detailed in Figure 1).
"Receiving this permit to drill and getting started on our own surface sampling across Carman-Langmuir are great steps towards beginning to realize our great exploration potential," said Sean Samson, President, CEO of EV Nickel, "we are very excited about finding more Large Scale mineralization up at Carman-Langmuir, and what success there will mean for the trajectory of the Company."
Outcrop exposure along a ridge of ultramafic dunite to peridotite extending from the Langmuir Access Road up into central Carman Township is good and the mapping indicate an ultramafic sequence with an apparent thickness of between 250 and 1,000 metres (E.J. Leahy, Ontario Department and Mines and Northern Affairs Geological Report 96, 1971; and D.R. Pyke, Ontario Department of Mines, Geological Report 86, 1970). Several geochemical analyses of the exposed ultramafic units have been completed from the area of interest by the Ontario Geological Survey and the University of Alabama to better understand the mineral potential of these ultramafic units (see Figure 2). Historic sampling of the large dunite-peridotite sequences returned analyses with nickel contents all occurring above 0.25% along the entire length and breadth of the outcrop exposures (Pyke, D.R. 1982. Geology of the Timmins Area, District of Cochrane; Ontario Geological Survey, Report 219, Map 2455, 141p.; and Sproule et al., 2003, OGS Open File Report 6073). All of the analyses are available in the public domain
It is along these large dunitic bodies that the Company will immediately start its own surface sampling this week and is now permitted to begin drilling. EV Nickel plans to be drilling the area this summer.
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. In addition to extensive historic production, 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 Clean Nickel TM business, targeting the growing demand for Class 1 Nickel from the electric vehicle battery sector. EV Nickel has more than 30,000 hectares to explore and has identified more than 100km of favourable strike length.
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.
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.
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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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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Metallum Resources Inc. (TSXV: MZN) (OTCQB: MTLLF is developing a high-grade zinccopper project in Ontario. BTV chats with President & CEO, Kerem Usenmez to learn more.
Metallum Resources Inc.(TSXV: MZN) (OTCQB: MTLLF)
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Contact: Trina Schlingmann (604) 664-7401 x 5 trina@b-tv.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127151
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Midnight Sun Mining Corp. (TSXV: MMA) (OTCQB: MDNGF) (the "Company" or "Midnight Sun") has received notification of Rio Tinto Mining and Exploration Limited's ("Rio Tinto") intention to terminate the previously announced Earn-In and Joint Venture Agreement (the "Earn-In Agreement") (see the Company's news release dated April 27, 2020). Termination will be effective June 28, 2022.
Under the terms of the Earn-In Agreement, Rio Tinto has not earned any ownership of the Solwezi Licences, and control will be returned to Midnight Sun, along with all samples and data collected while Rio Tinto acted as the project operator.
Al Fabbro, President & CEO commented, "While Rio Tinto were not satisfied with the results generated by their work on our properties, I do not share their feelings. From the outset of this Agreement, Rio Tinto made it clear to me they were looking for a 'Rio sized deposit.' Falling short of their parameters does not mean we don't have the makings of an economic orebody on our hands. They have generated excellent databases of geochemical and geophysical information that tell me the Solwezi Licences are very much still alive and warranting further work."
Midnight Sun has received the 2021 Solwezi exploration report from Rio Tinto. All of the work in this field season was focused on license 12124-HQ-LEL and total expenditures for the 2021 program were approximately USD $2.95 million.
The work consisted of 5,968 meters ("m") of drilling divided into: 2,483 m of diamond drilling ("DD") over 8 holes, 1,050 m of Reverse Circulation drilling ("RC") and 2,682 m of air core drilling ("AC"). There were also 668 new soil samples taken and 1,200 AC samples from Mitu reanalyzed.
A total of five target areas were examined: Gameno, Likoko, Sanda, Mawemba and Dumbwa.
There were three DD holes at Gameno totalling 1,300 m. The program was designed to test a Cu-Bi anomaly that was upgraded by two AC holes in 2020 that returned 18 m of 0.21% Cu and 14 m of 0.23% Cu. The three best intercepts were 2.1 m of 0.68% Cu from 360 m, 1.5 m of 0.79% Cu from 188.5 m, and 1.42 m of 8.3% Cu from 164 m.
No further work is recommended due to lack of strike continuity and thickness. It is also the most populous part of the licenses, running into the town of Solwezi, which hampers further exploration and potential development.
Two DD holes, totalling 461 m tested the Mitu extension to the southeast over a moderate copper soil anomaly coincident with a strong Versatile Time Domain Electromagnetic ("VTEM") anomaly and an audiomagnetotelluric ("AMT") conductor. Neither diamond drill hole intersected Cu mineralisation, indicating further geological and structural modelling of the Mitu Trend is required to understand the controls of mineralisation and the fluid focusing mechanism along this target area.
Two DD holes totalling 499 m tested a weak soil geochemical anomaly and a large VTEM anomaly similar to Mitu. Weak mineralisation was encountered in each hole.
One diamond drill hole was completed to test a Cu in soil anomaly on the north-west edge of a large mafic intrusive body. This diamond drill hole intercepted 20 m of 0.19% Cu from 27.3 m.
At Mawemba NE, 18 air core holes were drilled across three fences, testing a Cu in soil anomaly and along a linear magnetic anomaly. The strongest result was 1 m of 1.13% Cu from 26 m, terminating in mineralization.
Rio Tinto performed a full review of the diamond drilling previously performed by Midnight Sun on the area to get an understanding of the geology and mineralisation of the area. A 200 m x 200 m infill soil geochemical grid confirmed the continuity of the anomaly and seven reverse circulation holes were drilled.
Midnight Sun engaged an independent Copperbelt expert, Dr. Simon Dorling, to review the data generated by Rio Tinto's work and prepare recommendations for Midnight Sun's 2022 work program.
All samples collected by Rio Tinto including soil samples and all drilling were sent to ALS Global Ndola facility for preparation and on turn ALS Vancouver for analysis. The prepared samples was provisionally analysed by ALS certified pXRF at Ndola and in turn by ICP-AES/MS method in Vancouver. One duplicate sample and one certified standard sample were inserted by Rio Tinto in every 20 samples analysed for quality control/quality assurance purposes.
Qualified Person: Richard Mazur, P.Geo., a Director of the Company anda Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.
ON BEHALF OF THE BOARD OF Midnight Sun Mining Corp.
Al Fabbro President & CEO
For Further Information Contact: Al Fabbro President & CEO Tel: +1 604 351 8850
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 OR ACCURACY OF THIS NEW RELEASE.
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127225
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Fireweed Zinc LTD. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF) is pleased to provide the results of its Annual and Special Meeting of Shareholders which was held on May 25, 2022, and to announce Fireweed shares are now eligible for electronic clearing and settlement with the Depository Trust Company ("DTC") for trading in the USA.
Annual and Special Meeting At the Annual and Special Meeting of shareholders, 25,038,453 shares were voted and the Company received majority shareholder approval for the following:
Details of the matters approved at the meeting are set out in the Company's Information Circular dated April 19, 2022 and available under the Company's profile on SEDAR at www.sedar.com .
Depository Trust Company Eligibility in USA The Company is pleased to announce that Fireweed shares are now eligible for electronic clearing and settlement through the Depository Trust Company ("DTC") in the USA. DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities which are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." The Company believes that being DTC eligible will simplify and make trading in its common shares on the OTCQB Venture Market more accessible to the US investment community with accelerated settlement periods and expected reduction in costs for investors and brokers.
DTC eligibility compliments Fireweed's OTCQB ® Venture Market (the "OTCQB") listing (OTCQB: FWEDF) in the USA. The OTCQB, operated by the OTC Markets Group in New York, is the premiere marketplace for early stage and developing U.S. and international companies, and is recognized by the United States Securities and Exchange Commission ("SEC") as an established public market providing public information for analysis and value of securities.
About Fireweed Zinc Ltd. (TSXV: FWZ; OTCQB: FWEDF; FSE:20F ): Fireweed Zinc is a public mineral exploration company on the leading edge of Critical Minerals project development. The Company has three projects located in northern Canada:
In Canada, Fireweed (TSXV: FWZ) trades on the TSX Venture Exchange. In the USA, Fireweed (OTCQB: FWEDF) trades on the OTCQB Venture Market for early stage and developing U.S. and international companies and is DTC eligible for enhanced electronic clearing and settlement. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com . In Europe, Fireweed (FSE: 20F) trades on the Frankfurt Stock Exchange.
Additional information about Fireweed Zinc and its projects can be found on the Company's website at www.FireweedZinc.com and at www.sedar.com .
ON BEHALF OF Fireweed Zinc LTD.
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 or accuracy of this release.
Forward Looking Statements This news release may contain "forward-looking" statements and information relating to the Company including its DTC eligibility that are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including but not limited to, without limitations, exploration and development risks, expenditure and financing requirements, general economic conditions, changes in financial markets, the ability to properly and efficiently staff the Company's operations, the sufficiency of working capital and funding for continued operations, title matters, First Nations relations, operating hazards, political and economic factors, competitive factors, metal prices, relationships with vendors and strategic partners, governmental regulations and oversight, permitting, seasonality and weather, technological change, industry practices, and one-time events. Additional risks are set out in the Company's prospectus dated May 9, 2017, and filed under the Company's profile on SEDAR at www.sedar.com. Should any one or more risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
Contact: Brandon Macdonald Phone: (604) 646-8361
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TSXV:AUC)(OTCQB:AUCCF)(Frankfurt:9FY), (the "Company" or "Goldplay"), is pleased to announce that it will be exhibiting at the annual 2022 Prospectors & Development Association of Canada Convention (PDAC), the world's premier mineral exploration & mining event. We invite all our shareholders and conference delegates to visit us at booth # 3352. The in-person event will be held at the Metro Toronto Convention Centre (MTCC) from Monday, June 13 to Wednesday, June 15, 2022
We welcome all stakeholders to come visit our senior team members who are attending PDAC from Portugal and BC and discuss one on one Goldplay's plans for 2022 and beyond.
Goldplay Mining is a Canadian public company listed on TSXV and in US on OTCQB. Goldplay holds large district scale gold, and copper-gold projects located in BC's Golden Triangle and southwestern BC with potential for world class mineral discoveries. The Company also holds several brownfield gold, and copper-gold projects located in Portugal with near term mining potential.
On behalf of the Board of Directors "Catalin Kilofliski" President, CEO & Director
For further information please contact:
Goldplay Mining Inc. Mr. Catalin Kilofliski, President & CEO Suite 650 - 1021 West Hastings Street Vancouver, BC V6E 0C3 T: (604) 655-1420 E: catalin@goldplaymining.ca www.goldplaymining.ca
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 or accuracy of this release.
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Metal Energy Corp. (" Metal Energy " or the " Company ") (TSXV: MERG) is pleased to announce that it will be featured at Ore Day which will be broadcast today June 10 th at 9 am ET at www.Oreday.com
Ore Day is a conference hosted by the Ore Group of Companies who focus on gold, copper, nickel, and uranium development projects.
Ore Day will also feature keynote talks and interview with industry experts, including:
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's expectations regarding future operations and other forward-looking information. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the application of the proceeds of the Offering as anticipated by management and the inability to obtain the necessary TSX Venture Exchange approval to complete the Offering. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to close the Offering, that the Company's financial condition and development plans do not change as a result of unforeseen events, and that the Company will receive all required regulatory approvals, TSX Venture Exchange approval, for the Offering.
Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements, unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com
Neither 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 or accuracy of this release.
View original content: http://www.newswire.ca/en/releases/archive/June2022/10/c3605.html
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Azarga Metals Corp. ("Azarga Metals" or the "Company") (TSXV:AZR) is pleased to announce the appointment of Doris Meyer as a director. The number of directors of the Company is now restored to three by this appointment
Doris Meyer is the Corporate Secretary of the Company. She gained her early experience in the mining industry as Vice President Finance of Queenstake Resources Ltd. from 1985 to 2003. Ms. Meyer launched her private company Golden Oak in October 1996 with Queenstake as her first client. Since that time, Golden Oak has provided publicly traded mineral exploration companies with administrative, financial reporting and corporate compliance services. Ms. Meyer is also Corporate Secretary and Director for a number of publicly listed exploration companies trading on the TSX-V. Ms. Meyer is a past member of the Institute of Chartered Professional Accountants of British Columbia. Ms. Meyer has been the Corporate Secretary of the Company since 2008.
Gordon Tainton, President and CEO
For further information please contact: Doris Meyer, at +1 604 536-2711 ext. 3 or visit www.azargametals.com. The address of the head office of Azarga Metals is Unit 1 - 15782 Marine Drive, White Rock, BC V4B 1E6, British Columbia, Canada.
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 or accuracy of this release.
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