SPC Nickel Announces Remaining Drill Results from its Janes Ni-Cu-PGM Project
SPC Nickel Announces Remaining Drill
Results from its Janes Ni-Cu-PGM Project
Sudbury, Ontario--(Newsfile Corp. - September 8, 2021) -
SPC Nickel Corp. (TSXV: SPC)
(
"SPC
Nickel"
or the
"Company"
), is pleased to announce the final assay results from the drill program at its
Janes Ni-Cu-PGM Project (the "Project") located in Sudbury, Ontario. The program focused on defining
the extent and continuity of the high-grade Trench 1 mineralization and consisted of 16 short, closely
spaced drill holes. Assay results from the final seven holes have been received and are reported in
Table 1 along with all the previously released results.
Grant Mourre, CEO and President of SPC Nickel Corp. commented
, "We are excited to see the
continuation of these exceptional drill results from our Trench 1 exploration program at Janes. The
drilling has confirmed the potential for the property to host high-grade Ni-Cu-PGM mineralization
relatively close to surface. The next step in the process will be to complete detailed geological
modelling of the size and grade distribution within the high-grade zone as well as the incorporation of
the overlying lower-grade zone. This work will allow us to better assess the economics potential of the
Trench 1 area and the overall potential of the property."
Assay Results
Table 1: Assay results from the Trench 1 target area.
To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/6510/95816_picture1.jpg
Note: 3E PGM represents Pd g/t + Pt g/t + Au g/t. Equivalent values calculated using the 30-day average metal prices of US$8.03/lb. Ni,
US$4.54/lb. Cu, US$1,187/oz Pt, US$2,833/oz Pd, US$1,882/oz Au and $27.77/oz Ag listed in the June 17, 2021, Press Release. Recoveries were
not used in calculations. Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.
Trench 1 Program
The Trench 1 drill program was designed to test the lateral and vertical continuity of the mineralized zone
that is exposed at surface at the Trench 1 showing. The drill program consisted of 647 metres in 16
holes (see Table 2) that ranged in depth from 27 to 51 metres and tested an area measuring
approximately 75 metres by 45 metres. Mineralization at the Trench 1 area is dominated by
disseminated sulphides, hosted within a hypersthene-bearing gabbro unit situated 10 metres above the
basal contact of the Nipissing sill and the surrounding metasediments. Earlier this year, SPC Nickel
completed a channel sampling program at the Trench 1 showing that returned 2.25 g/t Pd, 0.41 g/t Pt,
0.26 g/t Au, 1.09 % Cu and 0.50 % Ni over 22.00 metres (see SPC Nickel Press Release dated May
25, 2021).
Trench 1 Results
Drilling has outlined a 50 metre (strike length) by 100 metre (dip extents) zone (see Table1 and Figure 1
and 2) of high-grade mineralization that ranges in thickness from 6.5 to 25.0 metres (drill core length)
within a larger low-grade halo. Mineralization is dominated by 5-10% fine to medium grained
disseminated sulphides occurring within a well-defined zone of hypersthene-bearing gabbro. A
discontinuous zone of high-grade breccia hosted mineralization is also observed in some of the historic
drill holes (JR99-01) at the base of the main mineralized zone. Stringers and veins of massive
chalcopyrite mineralization, with values of up to 10% Cu (over 0.25 metres) are reported in close
association with altered fragments of country rock metasediments.
Refer to Figure 1 for a map of the Trench 1 area displaying the collar locations and drill hole traces of the
holes listed in Table 2 as well as historic drill holes completed in the area.
Refer to Figure 2 for a cross section of the Trench 1 area along a NW-SE orientation (A-A').
Table 2: Drill collar locations, azimuths and dips for drill holes completed at the Trench 1 area.
Drill Collar Locations (NAD 83 UTM Zone 17N)
Drill hole
Easting
Northing
Elevation
Depth (m)
Dip
Azimuth
Status
JP-21-001
547205
5171348
252
51
-90
300
Previously
Released
JP-21-002
547205
5171348
252
27
-45
300
Previously
Released
JP-21-003
547205
5171348
252
27
-45
260
Previously
Released
JP-21-004
547205
5171348
252
30
-45
200
Previously
Released
JP-21-005
547215
5171360
251
36
-90
300
Previously
Released
JP-21-006
547215
5171360
251
27
-45
300
Previously
Released
JP-21-007
547215
5171360
251
27
-45
260
Previously
Released
JP-21-008
547215
5171360
251
51
-45
200
Previously
Released
JP-21-009
547225
5171358
250
45
-90
300
Previously
Released
JP-21-010
547224
5171344
250
42
-90
300
Included in
release
JP-21-011
547223
5171344
250
51
-50
300
Included in
release
JP-21-012
547220
5171329
250
51
-90
300
Included in
release
JP-21-013
547219
5171329
250
51
-50
300
Included in
release
JP-21-014
547219
5171313
250
51
-90
300
Included in
release
JP-21-017
547226
5171287
254
30
-90
300
Included in
release
JP-21-018
547198
5171327
251
50
-90
300
Included in
release
Figure 1: Plan map of the Trench 1 area. Historic drill collars are represented with red diamonds while
the 2021 drill collars are represented by the blue diamonds.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6510/95816_af03a898a442e8b8_003full.jpg
Figure 2: Cross section of the Trench 1 area along A-A' (refer to Figure 1). Section is orientated at 300°
and the viewing direction is at 30°.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6510/95816_af03a898a442e8b8_004full.jpg
Target B Program
In April of 2021 SPC announced the results of a 25.5 line-km ground 3D induced polarization
geophysical survey (see SPC Nickel Press Release dated April 14, 2021). The results of the survey
indicated a large 300 metre by 450 metre chargeability anomaly, located 500 metres west of the Trench
1 area (see Figure 3). The area had seen no previous exploration activities with the current geological
model suggesting that this area may be like the Target A area except on the opposite NW dipping limb
of the folded Nipissing sill.
Two holes for a total of 273 metres were completed in this area with the objectives being to determine
the source of the chargeability anomaly and to test the geological model that the Nipissing sill is folded
and extends under the Huronian metasediments to the west.
Table 3: Drill collar locations, azimuths and dips for drill holes completed at the Target B Program.
Drill Collar Locations (NAD 83 UTM Zone 17N)
Drill hole
Easting
Northing
Elevation
Depth (m)
Dip
Azimuth
JP-21-015
546688
5171370
253
162
-50
280
JP-21-016
546690
5171369
253
111
-50
100
Target B Results
JP-21-015 was collared in metasediments and intersected the sill at a depth of 58.0 metres. The hole
was stopped at a depth of 162 metres when it was determined that the hole was drilling down the
interpreted dip of the sill. No source of the chargeability anomaly was identified, but the results did
confirm that the sill extends to the west beneath the Huronian metasediments where it remains untested.
JP-21-016 (drilled to the east) intersected over 25 metres of overburden before encountering the
Nipissing sill. The hole was stopped at a depth of 111 metres. Initial interpretations suggest that the thick
zone of overburden may represent a NW-SE trending fault along the western limb of the folded sill.
Preliminary geological modeling suggests that neither of the two holes tested the same stratigraphic
level of the sill that hosts the Trench 1 mineralization. The difference in stratigraphic position, may be a
result of vertical displacement along late north-south trending faults. Geological mapping is currently
underway in this area to help build the geological model and determine the potential fault displacement
with the objective being to determine the location of the 'Trench 1' stratigraphy.
Next Steps for the Janes Project
SPC Nickel remains active on the Janes Project with field crews busy completing detailed geological
mapping of the property. The focus of the mapping is to collect geological and structural data across the
property that can be integrated into the larger geological model to better understand the nature of the
known mineralization and the overall potential of the property to host addition zone of sulphide
mineralization.
A biogeochemical orientation survey was completed over two grid lines covering the known
mineralization at Trenches 1 and 4. The objective of the survey is to determine if biogeochemical
sampling could be used as an effective exploration tool for exploring the entire Janes Property in areas
of limited outcrop exposure. Samples have been submitted to the lab and results are pending.
Following the completion of the field-based programs, SPC Nickel will look to complete detailed 3D
geological modeling of the Trench 1 mineralization with a potential of moving towards a resource model
for the mineralized zone.
Reference
1
.
Assessment Report 2.19887, Diamond Drill Program Janes Property, Pacific North West Capital Corporation, June 25, 1999.
2
.
Assessment Report 2.20720, Work Report: Phase II Diamond Drill Program Janes Property, Pacific North West Capital Corporation,
December 31, 1999.
3
.
Assessment Report 2.22235, Work Report: Phase III Diamond Drill Program Janes Property, Pacific North West Capital Corporation,
November 28, 2001.
4
.
Assessment Report 2.20008291, 2007 Diamond Drilling Program: Chiniguchi River Property, GoldTrain Resources Inc., February 19,
2010.
Figure 3: 3D Distributed IP Array Chargeability Inversion Slice (200 m) of the Janes Property with
interpretations and drill hole locations. Historic drill collars are represented with red diamonds while the
2021 drill collars are represented by the blue diamonds. Note: For the survey, an average sea level
(Mean Sea Level - MSL) of 300 m was used.
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6510/95816_af03a898a442e8b8_005full.jpg
Qualified Person
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 was obtained from historical work reports filed by
Pacific North West Corp. and GoldTrain Resources Inc. with the Ontario Ministry of Energy, Northern
Development and Mines and have not been independently verified by a Qualified Person as defined by
NI 43 101.
About SPC Nickel Corp.
SPC Nickel Corp. is a new Canadian public corporation focused on exploring for Ni-Cu-PGMs within the
world class Sudbury Mining Camp. The Company is currently exploring its key 100% owned exploration
projects Aer-Kidd and Lockerby East both located in the heart of the historic Sudbury Mining Camp and
holds an option to acquire 100% interest in the Janes project located approximately 50 km NE of
Sudbury. The Company's flagship project, Aer-Kidd, is strategically located between two world class
assets in the producing Totten Mine (Vale) and the large, high-grade Victoria development project
(KGHM). The Company will initially focus on advancing its key Sudbury assets with a vision of growing to
a pre-eminent North American nickel exploration company. Additional information regarding the
Company and its projects can be found at
www.spcnickel.com
.
Quality Assurance and Quality Control
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. Over limits for Pd were determined using fire assay and AAS.
Base metal values were determined using sodium peroxide fusion and ICP-AES finish. Silver values
were determined using an aqua regia digestions 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.
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 the Company.
Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the Company expressly disclaims any intent or
obligation to update publicly forward-looking information, whether as a result of new information, future
events or otherwise.
Further information is available at
www.spcnickel.com
by contacting:
Grant Mourre
Chief Executive Officer
SPC Nickel Corp.
Tel: (705) 669-1777
Email:
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/95816