CSE:EVM - Post Discussion
Post by
MarketMakerss on Feb 26, 2024 4:10pm
EVM to Acquire Sudbury Projects
Amid skyrocketing demand for critical and energy metals EV Minerals (EVM.c) is targeting the indispensable metal fuelling the EV market revolution, nickel, and is focused on creating a domestic source for nickel supply in Canada.
Last Friday, EVM entered into a definitive agreement for its previously announced acquisition of Nickel Projects in Sudbury, Ontario!
EVM will acquire 100% of the Baldwin and Lunge Projects from Graycliff Exploration, which cover a total of 2,192 hectares in the prolific Sudbury mining camp, an area with many past producers and current exploration projects.
In mobilizing a technical team to the projects, EVM will conduct an immediate sampling program as part of its due dilligence for the LOI.
EV Minerals President and CEO, Nicholas Konkin, said:
"We continue to work through current and historical data as part of the 2023 exploration program at the EV Nickel Project in Quebec and are extremely confident in what we have unpacked so far. As we await assay results from the lab, we have focused our attentions on building a strong exploration portfolio in good nickel jurisdictions. We will soon be on the ground at the Sudbury Projects, which extends our critical minerals portfolio into the great mining jurisdiction of Ontario. Early assessment of both properties indicate that they have significant potential, including multiple strong underexplored geophysical anomalies, and we're excited to get into the field to evaluate the near-surface potential of the Sudbury Projects."
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.
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.
Notably, the deposit 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).
Last week, EVM additionally announced the initial results of its Phase 1 desktop compilation at the Project which saw 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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