EV Minerals identifies North Zone drill targets at EV nickel project, Quebec

EV Minerals Corp. [CSE-EVM; FSE-RLC] has identified compelling North zone drill targets and the potential for resource expansion by infill drilling from additional phase 1 desktop compilation at the EV nickel-copper-cobalt project in the Saguenay-Lac-Saint-Jean region, Quebec.

EV Minerals also anticipates 2023 drilling results from its inaugural 13-hole drill program completed on January 24, 2024, where initial exploration encountered semi-massive to massive sections of sulphide mineralization to be returned from the assay lab shortly. The company will also test results from the historic compilation for a 2024 follow-up drill program.

Initial desktop compilation highlights in the North zone: Highlights include North zone composites leaving strong potential for resource expansion by infill drilling and the zone being open to the north.

Highlights in the North zone include hole 89-MCN-132, which intersected two wide zones that graded 0.03% cobalt, 0.11% copper and 0.38% nickel over 14.00 metres from 25.00 metres, and 0.04% Co, 0.15% Cu and 0.29% Ni over 21.60 metres from 48.20 metres, which includes 0.09% Co, 0.49% Cu and 1.17% Ni over 2.40 metres from 48.20 metres.

Further high-grade pockets of nickel were intersected, including hole 89-MCN-133, which graded 0.10% Co, 0.11% Cu and 1.64% Ni over 2.30 metres from 34.80 metres, and 0.08% Co, 0.06% Cu and 1.47% Ni over 0.70 metres from 47.60 metres.

Copper was intersected in 89-MCN-134, which graded 0.02% Co, 1.17% Cu and 0.16% Ni over 0.50 metres from 85.00 metres.

Multiple holes revealed opportunity for further multielement potential, such as hole 89-MCN-129, which graded 0.78% Cu, 0.86% lead and 0.52% zinc over 1.00 metres from 30.00 metres, and hole 89-MCN-141, which graded 2.00% Pb over 1.00 metres from 9.70 metres.

A total of 160 drill holes, drilled in 1989, are reported in assessment reports. All holes have been captured into a properly structured database and verified to enable the generation of an interactive 3-D model of the deposit. This is an essential step toward planning the next drill program and resource update.

Analysis of the historic logs indicate that thNorthern zone mineralization appears as massive sulphides (pyrrhotite, pyrite and chalcopyrite), often exhibiting strong tectonic-sheared textures, within anorthositic gabbro to gabbro.

“Modern digitization of historic exploration on the property has given us excellent insight into multiple areas for resource expansion. It is clear that there is a strong potential to expand the main historic resource through infill drilling and multielement exploration at the EV nickel project,” commented EV Minerals president and chief executive officer Nicholas Konkin. “With the completed digitization, we are better equipped to model our follow-up drilling around the many [greater-than]-1% nickel intercepts encountered on the property. This compilation has also given us a strategic approach to evaluating metallurgical testing, which will be our next phase of analysis.”

The 1,792-hectare EV nickel-copper-cobalt project is north of Saguenay and is easily accessible by numerous forest service roads. The EV nickel project has an undeveloped resource of 5,585,000 tonnes with grades of 0.21% Ni, 0.11% Cu and 0.03% Co (non-NI 43-101-compliant resource).

The foregoing historical resource estimates presented were completed in 1989, prior to the implementation of the requirements of NI 43-101 standards.