SPC Nickel Initiates Metallurgical Test Program at West Graham Project
SPC Nickel Initiates Metallurgical Test
Program at West Graham Project
SUDBURY, ON
,
April 2, 2024
/CNW/ -
SPC Nickel Corp.
(TSXV:SPC)
("SPC Nickel" or the
"Company")
, is pleased to announce the initiation of a metallurgical test work study (the "Study"), to
be performed by Vale Base Metals subsidiary, Vale Canada Limited ('Vale"), on mineralization from
the Company's West Graham Ni-Cu Project.
Grant Mourre
, President and CEO of SPC Nickel commented,
"Metallurgical work is a vital step in
progressing any project and our work on this will provide important information toward evaluating
West Graham as a low-strip ratio, higher-grade starter pit. Having released our Maiden Resource
Estimate earlier this year, we are excited to keep the project moving forward. We look forward to
sharing our results with investors at the earliest opportunity."
The Study will perform a standardized flotation test to assess potential recoveries, mineralogy and
grindability of West Graham mineralization based on a simulated Clarabelle Mill flowsheet. The
Clarabelle Mill is located in
Sudbury, Ontario
and is owned and operated by Vale.
The planned metallurgical study will focus on mineralization from six shallow drill holes (see Table 1)
completed by SPC Nickel in 2023 that targeted a 150 metre by 150 metre area immediately down-
dip of an extensive surface Ni-Cu gossan. The target area is being evaluated as a potential low-strip
ratio, higher-grade starter pit.
Table 1: 2023 drill holes selected for the preliminary metallurgical test work study.
Hole ID
From
(m)
To
(m)
Length
(m)
1
NiEq
(%)
2
Ni
(%)
Cu
(%)
Co
(%)
Pt
(g/t)
Pd
(g/t)
Au
(g/t)
Estimated
True
Width
%
3
WG-23-059
23.00
37.00
14.00
0.73
0.53
0.37
0.02
0.04
0.02
0.03
100
WG-23-060
12.00
42.00
30.00
0.43
0.32
0.20
0.01
0.02
0.01
0.01
100
WG-23-061
14.00
48.00
34.00
0.63
0.48
0.24
0.02
0.03
0.01
0.02
90
WG-23-062
1.00
21.00
20.00
1.12
0.87
0.41
0.03
0.07
0.03
0.05
90
WG-23-063
2.00
61.00
59.00
0.94
0.71
0.38
0.02
0.06
0.02
0.02
50
WG-23-083
2.35
52.00
49.65
0.75
0.60
0.22
0.02
0.05
0.02
0.01
75
Notes:
1.
Length refers to downhole length.
2.
NiEq grades are calculated using this formula: Ni (%) + [Cu (%) * 0.369] + [Co (%) * 2.318] + [Pt / 31.1 * 4.779] + [Pd / 31.1 * 8.602] + [Au / 31.1 * 8.124] with price
assumptions of $9.50/lb Ni, $3.50/lb Cu, $22.00/lb Co, $1000/oz Pt, $1,800/oz Pd and $1,700/oz Au.
3.
Estimated True Width is expressed as a percentage of downhole length.
Metallurgical Test Work Study
A total of 236 kilograms of drill core (quartered) from the six aforementioned drill holes have been
sampled and shipped to Vale's Sheridan Park Metallurgical Facility located in
Mississauga, Ontario,
Canada
.
The scope of the study includes:
Grindability Testing
Mineral Liberation Analyses
X-Ray Diffraction Analyses
Flotation test work
This program represents a preliminary bench-scale metallurgical study of the West Graham
mineralization and it is expected that additional metallurgical test work will be required and
completed in the future.
Ontario Junior Exploration Program
SPC Nickel is also pleased to announce that the Company was approved for a
$200,000
grant from
the government of
Ontario
under the Ontario Junior Exploration Program ("OJEP") on
July 17, 2023
and received the final tranche of funds on
March 7, 2024
. The OJEP program is designed to
promote early-stage exploration in
Ontario
, whereby companies can receive up to
$200,000
per
project to cover 50% of eligible exploration costs.
Quality Assurance, Quality Control and Qualified Persons
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.
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 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.
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. 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. Additional information regarding SPC Nickel 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 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/April2024/02/c3219.html
%SEDAR: 00050374E
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 02-APR-24