EV Nickel intersects high-grade nickel at Shaw Dome in Timmins  

Shares of EV Nickel (TSXV: EVNI) jumped more than 150% on the day after the company reported results of three drill holes from its program at the Shaw Dome project’s Langmuir W4 Zone in Timmins, Ont.  

Highlights included 48.6 metres grading 1.31% nickel starting from 37.3 metres in hole EVMET22-01; and 33 metres grading 0.74% nickel starting from 78 metres in hole EVMET22-02. The holes were designed to provide a representative sample for metallurgical analysis, the company said.  

“The mineralization at W4 is unique, composed primarily of pentlandite, which relates to high nickel tenors as reflected in these high-grade nickel intercepts,” said Paul Davis, EV Nickel’s vice-president of exploration, in a press release. “The current metallurgical test program will determine the best recovery method to be used.”  

Located about 25 km southeast of Timmins, near the Redstone mill, which has a capacity of 2,000 tonnes per day, Shaw Dome has a historic, non-NI 43-101-compliant resource estimate. Reported in 2010, the historic resource totals 677,000 indicated tonnes grading 1% nickel for about 15 million lb. of nickel, inferred resources add 171,000 tonnes grading 0.91% nickel for 3.3 million lb. nickel.  

Historically, the project has witnessed production from the Redstone, McWatters, Langmuir 1 and Langmuir 2 mines, the company’s CEO Sean Samson told The Northern Miner.  

“Our Shaw Dome project has an enormous land package with more than 30,000 hectares and 100 km of promising strike but importantly within that land package, we have a two0-track strategy of going after both high grade mineralization… plus the potential for the large scale deposits,” Samson said.  

“Our high grade is down in an area where that has been historic production… that’s the type of grade that historically gets turned into mines. Our large scale could be enormous and they could compliment each other for a possible production story,” he added.  

Highlights from the project’s initial drill program concluded in January, included 15.7 metres grading 1.14% nickel starting from 123.3 metres in hole EVNI-09 and 19.5 metres grading 0.96% starting from 99 metres in hole EVNI-01.  

The drill program included 20 holes for a total of 4,192 metres and was designed to test gaps within the historic drilling, with a focus on areas within and near the W4 zone.  

In May, the company launched its “Clean Nickel” strategy that focuses on decarbonizing nickel production. It will help the company “rethink” each of its steps for future production and target the lowest possible carbon cost of a unit of nickel, said Samson.  

“This means electrification of mining, ore sorting (all using clean, hydro power) plus innovative processing options (like bioleaching) and of course, the carbon capture potential,” he added. “We are currently in the lab, testing these pieces of our Clean Nickel strategy.”  

EV Nickel is supervising a “technical evaluation” of bioleaching, a process that utilizes naturally occurring oxidizing bacteria to extract metals such as nickel and copper.  

“Since the Shaw Dome deposits are rich in magnesium, there is a potential of converting the magnesium compounds (otherwise a waste stream) into a value added product which could be used for carbon sequestration,” the company said.  

EV Nickel, which only began trading on the TSX Venture Exchange in December after completing an initial public offering that raised $5.4 million, is working on developing a conceptual process for the recovery of nickel and copper through bioleaching. Indigenous bacteria will be isolated and raised from the Langmuir ores.

The company acquired the project from Rogue Resources (TSXV: RRS) in March 2021 and has since acquired additional land around it to expand Shaw Dome to 300 sq. km.

Shares of EV Nickel traded at a day high of 42¢ after opening at 18.5¢ in the morning of June 9, before falling to 22¢ in the afternoon, up 10¢ or 80% compared to the previous day’s close of 12.5¢.