EVNI -- High grade nickel hits, cashed up, low market capEVNI made a huge move out of the gate today after reporting high grade Nickel intercepts but has since retraced by almost a half and could be a decent risk/reward in the low 0.20s with the cheapest financing paper at 0.30 (June 2021). Most recent IPO financing was done at 0.75 (Dec 2021). Average warrant exercise price is 0.84. The company has $3M in cash, $7M market cap, 30M float.
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EV Nickel Phase 2 Drilling Results- 48.6 metres Grading 1.31% Nickel from W4, Samples Submitted for Met Testing
- EVMET22-01 intersects 48.60 metres grading 1.31% Ni, including 13.0 metres grading 2.98% Ni
- EVMET22-02 intersects to 33.0 metres grading 0.74% Ni, including 9.0 metres grading 1.47% Ni
- Holes EVMET22-01 and EVMET22-02 submitted for Metallurgical Test Program with SGS Canada Inc.
- Metallurgical Results from Langmuir W4 anticipated by mid-summer
TORONTO, ON / ACCESSWIRE / June 9, 2022 / EV Nickel Inc. (TSXV:EVNI) ("EVNi" or the "Company") is pleased to report the assay results for three holes completed as part of the Phase 2 Drill Program, from within the Langmuir W4 Zone. The holes were designed to provide a representative sample for metallurgical analysis. Each of the three holes intersected high-grade nickel sulphide mineralization consistent with the Langmuir W4 Zone. Two of the three holes, EVMET22-01 and EVMET22-02, will be submitted for the metallurgical analysis to SGS Canada Inc., providing a suitable quantity and quality of material for their test work.
EV Nickel Inc., Thursday, June 9, 2022, Press release picture
Drilling of the Langmuir W4 Zone continues to yield impressive intercepts of high-grade nickel. Hole EVMET22-01 intersected 48.6 metres grading 1.31 Ni%, including 13.0 metres grading 2.98% Ni; Hole EVMET22-02 intersected 33.0 metres grading 0.74% Ni, including 9.0 metres grading 1.47% Ni; and EV22-03 intersected 17.3 metres grading 0.70% Ni, including 4.3 metres grading 1.18% Ni. Table 1, below, summarizes the assay results for the metallurgical drill hole program.
"W4 continues to impress me with its high-grade nickel mineralization. The mineralization at W4 is unique, composed primarily of pentlandite, which relates to high nickel tenors as reflected in these high-grade nickel intercepts." states Paul Davis, EVNi's Vice President of Exploration. "The current metallurgical test program will determine the best recovery method to be used, utilizing the current mill flowsheets for facilities within a 300 km radius of the project. I am excited to see the results of the SGS metallurgical work as well as the results of our continued Phase 2 Drill Program testing the down plunge extension of the W4 zone."
