SPC Nickel Launches Major Airborne Geophysical Survey for Muskox Cu-Ni-PGM Project, Nunavut
SPC Nickel Launches Major Airborne
Geophysical Survey for Muskox Cu-Ni-PGM
Project, Nunavut
SUDBURY, ON
,
July 21, 2025
/CNW/ -
SPC Nickel Corp.
(TSXV: SPC)
("SPC Nickel" or the
"Company")
is pleased to announce that a property wide 1,000 line-km MobileMT electromagnetic
geophysical ("EM") survey will commence during the last week of July at SPC Nickel's 100% owned
district-scale Muskox Cu-Ni-PGM Project ("Muskox Project" or the "Project") in
Nunavut, Canada
.
The helicopter-borne survey, to be conducted by Expert Geophysics Survey Inc. ("EGS"), will be
instrumental in determining the overall three-dimensional shape and morphology of the Muskox
Intrusion and for identifying both large conductive regions associated with the basal contact of the
Muskox Intrusion and the extensive Keel Zone target, a Voisey's Bay analogue. The survey will be
the first of its kind completed over the highly prospective Muskox Intrusion and the first airborne
geophysical survey completed in over 20 years on the Project. Historical drill results underscore the
exceptional mineral potential of the Muskox Intrusion, including:
7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au)
1
by Silvermet Corporation
in 2007 and
13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM
2
by Equinox Resources Ltd. in 1987
The Keel Zone is interpreted to represent a dynamic geological environment, similar to the Ovoid
deposit at the Voisey's Bay Mine, which the Company believes has excellent potential to host high-
grade polymetallic (Cu-Ni-PGM) sulphide mineralization. The Keel Zone extends over a strike length
of 40 km and represents the intersection point of the Muskox Feeder Dyke with the main Muskox
Intrusion.
Grant Mourre
, CEO and President of SPC Nickel commented,
"
Muskox stands out as one of the last
remaining district-scale, underexplored polymetallic systems in a Tier-1 jurisdiction. The scale of
the intrusion, the intensity of the mineralization, and the diversity of metal content we're seeing -
including copper, nickel, and PGMs - all point to the presence of a very large, highly fertile
magmatic system. We are just beginning to scratch the surface of this exciting project. The
program announced today builds on our previous work at Muskox and will, alongside our
comprehensive proprietary database, contribute to a robust geological model that supports the
potential for a globally significant polymetallic discovery in
Canada's
north."
MobileMT Geophysical Survey
Expert Geophysics Survey Inc. has been contracted to complete a 1,000 line-km MobileMT EM
geophysical survey spanning the entire claim block covering the main Muskox Intrusion. The survey
will be conducted at 200 metre line spacing in the southern half of the claim block and 500 metre
spacing in the northern half.
MobileMT uses naturally occurring electromagnetic fields in the frequency range of 25 Hz – 20,000
Hz to map the variations in the electrical conductivity of the subsurface. MobileMT is the most
advanced generation of airborne audio-magnetotelluric survey that combines the latest achievements
in electronics, advances of modern airborne system design, and sophisticated signal processing
techniques. MobileMT is capable of delivering geoelectrical information from shallow to >1 km depth
range with high spatial and resistivity resolution. The MobileMT system detects resistivity contrasts
of geology structures and boundaries of any shape and in any direction due to total field (three-
component) measurements.
Shareholder Rights Offering – Update
SPC Nickel reminds shareholders that the Company's ongoing rights offering (See news release
here
) closes on
July 25, 2025
, at
5:00 pm
Toronto
time. As a shareholder of record on
June 24,
2025
, you should have received a notice and subscription form from your broker or intermediary
regarding your rights. If you hold your shares in a brokerage account and haven't received anything
yet, we encourage you to reach out to your advisor or platform as soon as possible.
Offering Terms
Shareholders received
0.906482950 rights
for each SPC Nickel share held;
Each
1 right
entitles the holder to purchase
1 common share
at a price of
$0.02
; and
Shareholders who fully exercise their rights may subscribe for
additional shares
under the
Additional Subscription Privilege
, subject to availability
Key Dates to Remember
Record Date
:
June 24, 2025
Rights Expiry Date
:
July 25, 2025
, at
5:00 p.m.
(
Toronto
time) - this is the deadline to act
Trading Period for Rights
:
June 24 - July 25, 2025
(until
12:00 p.m.
Toronto
time) on the TSX
Venture Exchange under the symbol
SPC.RT
The proceeds will be used to support ongoing exploration activities, including work at SPC Nickel's
flagship Muskox Project.
About the Muskox Intrusion
Originally discovered in the 1950s by Inco, SPC Nickel's Muskox Project, located in
Nunavut,
Canada
, represents one of the most prospective greenfield polymetallic nickel, copper, and PGM
projects globally. The district-scale land package (470 km
2
) covers the majority of the Muskox
Intrusion, a large, layered mafic-ultramafic body with striking geological similarities to some of the
world's most significant nickel-copper-PGM deposits, such as the massive Norilsk-Talnakh deposit
that contains in excess of 28.7 Mt of nickel and 48.9 Mt of copper
3
(reserves and resources, as of
January 1, 2025
).
The Muskox Intrusion is one of the largest and least deformed layered mafic to ultramafic bodies in
the world. It was emplaced during a large magmatic event (Mackenzie Magmatic Event) in the
Proterozoic by mantle plume volcanism related to the widespread Coppermine River Group flood
basalts. The intrusion is broadly composed of two distinct, but related, components called the Main
Muskox Intrusion and the Feeder Dyke, which combined are exposed over a length of 125 km, and
range in width from 200-600 metres in the Feeder Dyke to 11 km in the Main Body of the intrusion.
Previous exploration programs completed over a roughly 60-year period identified widespread high-
grade polymetallic sulphide mineralization along the basal contact of the intrusion or in the adjacent
footwall, similar to the
Sudbury
and Norilsk-Talnakh camps. Historical drill highlights from the Muskox
Project include:
7.50 metres @ 6.14% Cu, 2.76% Ni and 9.06 g/t PGM (Pt+Pd+Au)
1
by Silvermet Corporation
(2007) and
13.74 metres @ 5.04% Cu, 2.21% Ni and 5.63 g/t PGM
2
by Equinox Resources Ltd. (1987)
These results, combined with an extensive footprint of magmatic sulfide mineralization, historical
high-grade drill intercepts, untested geophysical targets and limited modern follow-up, underscore
the Project's exceptional discovery potential.
Reference
1
.
Vivian, Gary (2007). Muskox Project,
Nunavut
, 2007 Drill and Geophysical Survey Program
Annual Report for Prize Mining, Assessment report. 57 p., 8 data Appendices.
2
.
Page, J.W., Culbert, R.R. and Martin, L.S. (1988). Geochemical, geophysical and diamond
drill reports on the Muskox property, NWT. Equinox Resources Ltd. DIAND Assessment report
082562. 56 p., 3 data Appendices.
3
.
Nornickel Annual Report 2024.
Quality Assurance, Quality Control and Qualified Persons
The technical elements of this news release have been approved by Mr.
Grant Mourre
, P.Geo.
(PGO), CEO and President of SPC Nickel Corp. and a Qualified Person under National Instrument
43-101.
The historical information shown in this news release that was obtained from historical work reports
filed by Equinox Resources Ltd. and Silvermet Corporation has not been independently verified by a
Qualified Person as defined by NI 43 101.
About SPC Nickel Corp.
SPC Nickel is a Canadian public corporation focused on exploring for high-grade polymetallic Cu-Ni-
PGM mineralization in
Nunavut
and within the world-class Sudbury Mining Camp. SPC Nickel is
currently exploring its unique district-scale polymetallic Muskox Project in
Nunavut
where the team is
conducting a field program during the summer of 2025. The Company is also advancing its 100%-
owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp,
which includes the West Graham Resource and the LKE Resource. SPC Nickel is committed to
advancing high-potential polymetallic projects in Tier-1 jurisdictions across
Canada
with an emphasis
on
Nunavut
and
Sudbury
.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release
constitutes "forward-looking information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as "plans", "proposes", "estimates",
"intends", "expects", "believes", "may", "will" and include without limitation, statements regarding
estimated capital and operating costs, expected production timeline, benefits of updated
development plans, foreign exchange assumptions and regulatory approvals. There can be no
assurance that such statements will prove to be accurate; actual results and future events could
differ materially from such statements. Factors that could cause actual results to differ materially
include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory
risks. Most of these factors are outside the control of SPC Nickel. Investors are cautioned not to put
undue reliance on forward-looking information. Except as otherwise required by applicable securities
statutes or regulation, SPC Nickel expressly disclaims any intent or obligation to update publicly
forward-looking information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE
SPC Nickel Corp.
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For further information:
Further information is available at www.spcnickel.com and/or by
contacting: Grant Mourre, P.Geo., Chief Executive Officer, SPC Nickel Corp., Tel: (705) 669-1777,
Email: [email protected]
CO: SPC Nickel Corp.
CNW 07:00e 21-JUL-25