EV Nickel more than doubles historical estimate at high-grade W4 Deposit

EV Nickel Inc. [EVNI-TSXV] reported an updated mineral resource estimate for the “W4 Deposit”, more than doubling its 2010 historical estimate at the Company’s High-Grade nickel deposit in the southeast of its Shaw Dome Project,

“This is a major step on our mission to accelerate the clean energy transition with our Clean Nickel™,” said Sean Samson, President & CEO. “Expanding the total Measured, Indicated, and Inferred resources to more than 43M pounds of nickel sets up our two-track strategy of defining near surface, High-Grade nickel resources and combining them with the Large-Scale projects in the Shaw Dome. We have the best of both worlds including an avenue to potentially be in production in the next 3 to 4 years from W4 and continue advancing the transformational, Large-Scale CarLang. From here, this updated MRE will be the basis for a Preliminary Economic Assessment, to present the economic potential of the deposit.“

EV Nickel completed diamond drilling on the W4 Deposit between 2021 and 2023, combing this new data with historical drilling completed on the W4 Zone by Golden Chalice Resources to complete an updated MRE in accordance with National Instrument 43-101. The updated MRE reports Measured Resources of 0.49Mt or 11.5M pounds of contained nickel, Indicated Resources of 0.96Mt or 19.8M pounds of contained nickel, and Inferred Resources of 0.56Mt or 12.1M pounds of contained nickel (Table 1). This Updated MRE was modeled to ~500 m from surface while the 2010 historical resource estimate was to ~400 m from surface. The W4 Deposit remains open at depth and along plunge.

As of June 12, the Company shares traded at .12 cents with 51,396,937 shares outstanding and a market cap of $6,167,632.