CSE:EVM - Post Discussion
Post by
MarketMakerss on Mar 14, 2024 6:06pm
Nickel Buzz at PDAC 2024
With a variety of incentives including the $4B Critical Minerals Strategy and the $1.5B Critical Minerals Infrastructure Fund, the Government of Canada is continuing to throw its support behind critical minerals.
The nickel market specifically is facing lower prices despite the increased demand due to China's shift away from the metal. However, as nickel remains vital in both EV batteries and stainless steel production which is a critical mineral infrastructure material, continued demand will eventually result in a price pullback.
Located amid this market, EV Minerals (EVM.c) is making a name for itself in the market, having recently closed the acquisition of two nickel projects in Sudbury, Ontario, one of which returned high-grade results including 1.28% Nickel and 2.54% Copper during surface sampling in connection with the acquisition.
Sudbury Projects Acquisition
Under the definitive agreement with Graycliff Exploration, EVM will acquire 100% of the Baldwin and Lunge Projects which cover a total of 2,192 hectares in the prolific Sudbury mining camp, an area with many past producers and current exploration projects.
Aligning with EVM's focused on building a strong exploration portfolio in good nickel jurisdictions, the projects showcase gold and critical minerals potential with historic airborne geophysics on both projects revealing multiple new target areas for gold, copper, nickel and platinum group elements with highly prospective anomalies present along major structures.
Completed in connection with the proposed acquisition of the Baldwin and Lunge Projects, EVM collected a total of 35 samples with 5 returning assay values greater than 1% Nickel and 7 returning values greater than 1% Copper, including:
- 1.14% Ni, 1.28% Ni and1.23% Ni
- 1.54% Cu, 1.15% Cu, 2.54% Cu, 2.44% Cu and 2.04% Cu
EV Minerals President and CEO Nicholas Konkin said: "The presence of strongly elevated Nickel and Copper values at surface and across multiple sites on the Lunge Project, shows the exploration potential of the property. Additionally, we were intrigued by the discovery of gold mineralization. We will begin to plan our 2024 base line exploration program to compliment ongoing efforts at the EV Nickel property in Quebec."
These projects come in addition to EVM's EV Nickel Project, host of the nickel-copper-cobalt McNickel deposit, and comprised of 32 mineral claims covering ~1,792 hectares in the Saguenay Mining District in Quebec.
The EV Nickel Project contains a historical resource of 5.585 million tonnes with grades of 0.21% Ni, 0.11% Cu and 0.03% Co (NI 43-101 non-compliant resource) with initial results showing seven sections over a strike length of over 300m containing results of over 1% Ni or 1% Cu
The historic assays indicate wide zones at near-surface depths through the Main Zone and towards the Northern Zone with the best Main Zone grades mostly found within the massive to semi-massive sulphide zones, containing pyrrhotite, pyrite, and chalcopyrite.
Posted on Behalf of EV Minerals Corp.
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