SPC Nickel Announces Final Drill Results from the West Graham Project, including 0.81% Nickel and 0.77% Copper over 12.0 metres
SPC Nickel Announces Final Drill Results from
the West Graham Project, including 0.81%
Nickel and 0.77% Copper over 12.0 metres
SUDBURY, ON
,
Dec. 2, 2024
/CNW/ -
SPC Nickel Corp.
(TSXV: SPC)
("SPC Nickel" or the
"Company")
, is pleased to announce it has received the final assay results from its 2,596 metre,
36-hole drill campaign completed between June and
September 2024
at the Company's West
Graham Project ("West Graham" or the "Project"), part of the Company's large-scale Ni-Cu property
in the southwest corner of the
Sudbury
Basin, referred to as the Lockerby East Property.
SPC Nickel's 2024 drill program, designed to further delineate and upgrade the near-surface
mineralization, delivered consistently positive results with 30 of 36 holes (80%) returning length-
weighted mineralized intersections that averaged 15% higher than the average grade of the larger
in-pit indicated resource as stated in the
January 17, 2024
, maiden Mineral Resource Estimate
(MRE) (See news release
here
). Given these higher-than-average grades, the Company intends to
use the data from these results to continue advancing the Project with a focus on updating the MRE
and the development plan.
Assay results from the final 12 holes (Figure 2, 3) are reported in Table 1. A complete list of
previously released results may be found on the Company's website site (see results
here
).
Highlights:
Hole WG-24-116, intersected
0.81% Ni and 0.77% Cu over 12.0 metres
from 10.5 to 22.5
metres. This interval is part of a wider interval that returned
0.58% Ni and 0.45% Cu over 34.5
metres
from 1.5 to 36.0 metres (Figure 1).
Hole WG-24-112, intersected
0.93% Ni and 0.37% Cu over 7.5 metres
from 84.0 to 91.5
metres.
Hole WG-24-113, intersected
0.87% Ni and 0.32% Cu over 7.5 metres
from 3.0 to 10.5
metres.
Grant Mourre
, CEO and President of SPC Nickel commented,
"
Today's assays represent the
culmination of SPC Nickel's successful 2024 West Graham drill program. After starting our year
with the publication of a maiden Mineral Resource Estimate that quantified the promise and
potential of the Project, I am pleased to finish 2024 having delivered a drill program that not only
met all its objectives but also consistently returned grades exceeding the average in-pit resource of
the MRE. The near-term production pathway founded on a low-cost starter pit remains well-
supported by the assays we have released throughout the year. Beyond this, the exploration
upside at depth, via the LKE Project, further enhances the Project's long-term potential. These
results not only validate our 2024 efforts but also lay a strong foundation for the next phase of
West Graham's development."
Assay Results
Table 1:
New assay results from the 2024 drill program on the West Graham Project.
HOLE ID
From
(m)
To
(m)
Length
(m)
1
Ni
(%)
Cu
(%)
Co
(%)
Pt
(g/t)
Pd
(g/t)
Au
(g/t)
Ag
(g/t)
True
Width %
WG-24-110
37.50
66.00
28.50
0.46
0.26
0.02
0.04
0.02
0.02
1.48
100
WG-24-111
31.50
58.50
27.00
0.41
0.24
0.01
0.04
0.02
0.02
1.46
80
including
54.00
58.50
4.50
0.75
0.48
0.02
0.08
0.04
0.05
2.70
80
WG-24-112
18.00
67.50
49.50
0.35
0.22
0.01
0.04
0.02
0.01
1.43
80
and
84.00
91.50
7.50
0.93
0.37
0.03
0.12
0.04
0.03
2.36
80
WG-24-113
3.00
10.50
7.50
0.87
0.32
0.03
0.09
0.02
0.03
1.98
100
WG-24-114
1.35
4.50
3.15
0.58
0.44
0.04
0.07
0.27
0.03
2.87
50
WG-24-115
No significant mineralization
WG-24-116
1.50
36.00
34.50
0.58
0.45
0.02
0.06
0.03
0.02
2.60
80
including
10.50
22.50
12.00
0.81
0.77
0.03
0.07
0.05
0.03
3.74
80
and
43.50
52.50
9.00
0.51
0.37
0.02
0.07
0.02
0.03
2.22
80
WG-24-117
18.00
33.00
15.00
0.48
0.31
0.02
0.05
0.02
0.02
1.69
85
WG-24-118
9.00
22.50
13.50
0.66
0.28
0.02
0.06
0.02
0.02
1.80
100
including
19.5
22.5
3.00
1.67
0.19
0.05
0.06
0.04
0.02
1.60
100
WG-24-119
51.00
66.00
15.00
0.53
0.42
0.02
0.07
0.03
0.03
2.57
85
WG-24-120
51.00
57.00
6.00
0.63
0.43
0.02
0.09
0.10
0.03
2.38
100
WG-24-121
91.50
103.50
12.00
0.52
0.36
0.02
0.10
0.03
0.03
2.26
75
Notes: 1. Length refers to downhole length. Estimated True Width is expressed as a percentage of downhole length.
Figure 1: WG-24-116 mineralized drill intersections from 10.5 to 22.5 metres grading 0.81% Ni,
0.77% Cu. See Table 1 for results. (CNW Group/SPC Nickel Corp.)
2024 Exploration Achievements
Released the maiden MRE for the West Graham Project (see
news release
dated
January 17,
2024
)
Drilled a total of 36 holes for 2,596 metres of drill core at the West Graham Project – highlights
announced from the 2024 drill program include:
WG-24-087: 1.05% Ni, 0.30% Cu over 16.0 metres from 32.0 metres
(news release
here
)
WG-24-088: 1.41% Ni, 0.33% Cu over 20.0 metres from 20.0 metres
(news release
here
)
WG-24-092: 1.15% Ni, 0.29% Cu over 12.0 metres from 15.0 metres
(news release
here
)
WG-24-109: 1.46% Ni, 0.32% Cu over 10.5 metres from 85.5 metres
(news release
here
)
Further defined the high-grade eastern ore shoot at West Graham (see Figure 3) from surface
down to 120 metres depth – remains open for expansion below this depth.
Completed geotechnical survey on 15 drill holes to be used in future engineering studies.
Completed baseline environmental studies including surface-water quality monitoring and ground
water modeling to begin advancing the West Graham Project towards a permitting stage.
Figure 2: Plan map of the current area of drilling on the West Graham Project showing the collar
locations and drill traces of the completed holes. Assay results for the reported holes are shown in
callouts (blue for new results and brown for previously released results). See Table 1 for assay
intervals. (CNW Group/SPC Nickel Corp.)
Figure 3: Plan map of the current area of drilling on the West Graham Project showing the collar
locations, drill traces, NiEq% grade isoshells and the eastern and western ore shoots. (CNW
Group/SPC Nickel Corp.)
Figure 4: North-South section 476150mE. The section is orientated north-south, looking west and
with a 50m clipping width. Composite (1.5m) NiEq% assays grades are displayed as downhole bar
graphs. Mineralization isoshells, 0.3-0.5%, 0.5-0.7% and >0.7% NiEq% are also displayed. Refer to
Figure 2 for section location. (CNW Group/SPC Nickel Corp.)
Figure 5: North-South section 476300mE. The section is orientated north-south, looking west and
with a 50m clipping width. Composite (1.5m) NiEq% assays grades are displayed as downhole bar
graphs. Mineralization isoshells, 0.3-0.5%, 0.5-0.7% and >0.7% NiEq% are also displayed. Refer to
Figure 2 for section location. (CNW Group/SPC Nickel Corp.)
About the Lockerby East Property
The Lockerby East Property is located in the heart of the Sudbury Mining District where nine mines
are currently in operation and two more are in the development phase. The region benefits from its
proximity to well-developed transportation infrastructure including roads, railways, and electrical grid.
In addition, the Lockerby East Property is situated close to processing, smelting and refining assets
which include two mills, two smelters and one nickel refinery. Local operators include global mining
corporations Vale, Glencore and KGHM.
The Lockerby East Property hosts two separate NI 43-101 mineral resources known as the West
Graham and LKE projects. In
January 2024
, SPC Nickel announced the maiden MRE for the West
Graham Project (see
news release
dated
January 17, 2024
). The MRE showed an In-Pit Resource
(0.3% NiEq Cutoff Grade) of 19.3 Mt at 0.42% Ni, 0.28% Cu in the indicated category and 3.3 Mt at
0.37% Ni, 0.28% Cu in the inferred category. The Out-of-Pit Resource (0.7% NiEq Cutoff Grade)
contained a further 3.2 Mt at 0.63% Ni, 0.47% Cu (0.92% NiEq) in the indicated category and 3.9 Mt
at 0.69% Ni, 0.43% Cu (0.97% NiEq) in the inferred category.
In
March 2024
, SPC Nickel announced the update MRE for the LKE Project (see
news release
date
March 4, 2024
). The MRE showed a resource of 0.67 Mt at 1.17% Ni, 0.54% Cu in the indicated
category (0.9% NiEq Cutoff Grade) and 0.12 Mt at 0.99% Ni, 0.42% Cu in the inferred category.
The technical report, titled "Mineral Resource Estimates for the West Graham and LKE Deposits,
Lockerby East Ni-Cu-PGM Sulphide Property,
Sudbury, Ontario Canada
" can be found on the
Company's website at
www.spcnickel.com
and under the Company's issuer profile at
www.sedarplus.ca
. The MRE, in accordance with National Instrument 43-101, is effective as of
December 4, 2023
.
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.
SPC Nickel follows rigorous sampling and analytical protocols that meet or exceed industry
standards. Core samples are stored in a secured area until transport in batches to the ALS facility in
Sudbury, Ontario, Canada
. Sample batches include certified reference materials, blank, and
duplicate samples that are then processed under the control of ALS. All samples were analyzed in
Vancouver
by ALS Chemex. Platinum, palladium, and gold values were determined together using
standard lead oxide collection fire assay and ICP-AES finish. Base metal values were determined
using sodium peroxide fusion and ICP-AES finish. Silver values were determined using an aqua regia
digestion and an AAS finish. A Certified Reference Material (CRM) standard, blank or duplicate is
inserted on every 10th sample in the following order: CRM, blank, CRM, duplicate. The cycle
repeats every 40 samples, thus ensuring that 10% of samples submitted are control samples.
NiEq grade used in figures 2,3,4 and 5 are calculated using the following formula: Ni (%) + [Cu (%) *
0.369] + [Co (%) * 2.
318] + [Pt
/ 31.1 * 4.779] + [Pd / 31.1 * 8.602] + [Au / 31.1 * 8.124].
About SPC Nickel Corp.
SPC Nickel Corp. is a Canadian public corporation focused on exploring for Ni-Cu-PGMs within the
world class Sudbury Mining Camp and in
Nunavut
. SPC Nickel is currently exploring its key 100%
owned exploration project Lockerby East located in the heart of the historic Sudbury Mining Camp
that includes the West Graham Resource and the LKE Resource. SPC Nickel also holds three
additional projects across
Canada
including the large camp-scale Muskox Project (located in
Nunavut
), the past producing Aer-Kidd Project (located in the Sudbury Mining Camp) and the Janes
Project (located 50 km northwest of
Sudbury
). The corporate focus is on
Sudbury
, and SPC Nickel
continues to look for new opportunities to add shareholder value.
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:
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/December2024/02/c9547.html
%SEDAR: 00050374E
CO: SPC Nickel Corp.
CNW 07:00e 02-DEC-24