SPC Nickel Announces Start of Drilling at its 100% Owned Lockerby East Nickel-Copper Project in Sudbury
SPC Nickel Announces Start of Drilling at its
100% Owned Lockerby East Nickel-Copper
Project in Sudbury
Sudbury, Ontario--(Newsfile Corp. - April 27, 2022) -
SPC Nickel Corp. (TSXV: SPC)
(
"SPC Nickel"
or the
"Company"
), is pleased to announce the commencement of a 4,200 metre drill program on the
100% owned Lockerby East Ni-Cu Project (the "Project"), located in the world class Sudbury Mining
Camp (see Figure 1).
Grant Mourre, CEO and President of SPC Nickel Corp. commented,
"We are very excited to start our
fully funded drill program at the Lockerby East Project. The commencement of this much anticipated
drill program will provide us with an excellent opportunity to establish a shallow nickel sulphide
resource in a world class stable mining camp."
Lockerby East Project
The Lockerby East Project hosts both the historic West Graham and Lockerby East deposits. In 2009,
First Nickel Inc. disclosed a historical resource estimate
1
of 8.55Mt @ 0.45% Ni and 0.31% Cu
(indicated) and 2.0Mt @ 0.38% Ni and 0.30% Cu (inferred) for the West Graham deposit. These grades
have economic potential in the Sudbury context as the deposit is located very near to surface and may
be amenable to low-cost open pit mining.
The deposit is characterized by a broad zone of disseminated
to semi-massive sulphide that ranges from 1.7 to 66 metres thick and strikes for 375 metres with a dip
extent of up to 533 metres. Within the larger resource, a distinct zone of higher-grade mineralization
grading in excess of 1% Ni is present. As an example, drill hole WG-26 intersected a broad zone of
mineralization grading 0.73% Ni, 0.28% Cu over 71.33 metres
1
(from 56.69 metres) including a higher-
grade section that returned 1.09% Ni, 0.41% Cu over 39.47 metres
1
. At depth, the West Graham
deposit is interpreted to be contiguous with the high-grade Lockerby East deposit where historic
resources of 0.22 Mt @ 2.43% Ni and 0.78% Cu
2
(indicated + inferred) are hosted.
2022 Exploration Program
The 2022 drill program will include approximately 14 holes totalling 4,200 metres of drilling designed to
further evaluate and expand the extents of the high-grade Ni-Cu zone hosted within the larger West
Graham deposit. In addition, borehole geophysical surveys will be completed on a series of historic
holes in order to define additional targets in the 'gap zone' between the larger West Graham deposit and
the high-grade Lockerby East deposit that occurs at depth.
The goal of the program is to establish a
near surface, updated nickel sulphide resource estimate on the West Graham deposit in a world class
stable nickel mining camp.
About the Sudbury Mining Camp
3
The Sudbury Mining Camp is the 2
nd
largest Ni camp in the world, with over 130 years of continuous
production. Since the discovery of the original ore deposits, over 11.1 million metric tons of Ni and 10.8
million metric tons of Cu together with by-products of cobalt, silver, gold and platinum group elements
have been mined from the deposits. Production continues to be generated from eight major mine
complex and 21 smaller ore deposits around the outer margin of the Sudbury Basin; the principal mines
are owned and operated by international mining companies (Vale, Glencore, and KGHM International).
The economic wealth generated at Sudbury in terms of nickel and copper value alone is close to
US$500 billion.
Reference
1
.
NI 43-101 Report, Scott Wilson Mining, January 15, 2009, First Nickel Inc.; Technical Report on the West Graham Property Conwest Zone
Resource Estimate, Graham Township, Ontario, Canada). 1
2
.
Technical Report on the 2009 Resource Estimate for the Depth, East and Upper West Zones, Lockerby Mine, Sudbury, Ontario, prepared
by First Nickel Inc., February 23, 2009.
3
.
Nickel Sulfide Ores and Impact Melts, Lightfoot, 2017, Elsevier Inc.
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.
Note: The Company considers the West Graham and Lockerby East resource estimates to be historic
mineral resources for purposes of NI 43-101.
Neither the Company nor a qualified person on behalf of
the Company have done sufficient work to classify the historical estimates as current mineral resources
and the Company is not treating such historical estimates as current mineral resources.
The Company
considers the historic mineral resource estimates to be relevant to an understanding of the West
Graham Project but has not done any work to validate the estimates.
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 Lockerby East and Aer-Kidd 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 northeast of
Sudbury. In addition, the Company recently acquired over 45,000 hectares covering a considerable
proportion of the high prospective Muskox Intrusion, located in Nunavut. Although our focus is on
Sudbury, we are an opportunistic company always looking for opportunities to use our skills to add
shareholder value. Additional information regarding the Company and its projects can be found at
www.spcnickel.com
.
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:
Figure 1
: Geological map of the Sudbury Mining Camp illustrating the location of producing mines, past
producing mines, development projects as well as the existing infrastructure.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6510/121819_8b48b34064acaa6d_002full.jpg
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/121819