SPC Nickel Intersects 1.41% Nickel and 0.33% Copper over 16.0 metres at the West Graham Project, Sudbury, Ontario
SPC Nickel Intersects 1.41% Nickel and 0.33%
Copper over 16.0 metres at the West Graham
Project, Sudbury, Ontario
SUDBURY, ON
,
July 10, 2024
/CNW/ -
SPC Nickel Corp.
(TSXV: SPC)
("SPC Nickel")
, is pleased
to announce new assay results from the 2024 Drill Program at SPC Nickel's West Graham Project
("West Graham" or "the Project") located in the world-class Nickel-Copper mining district of
Sudbury, Ontario
(Figure 1). The 2024 Drill Program is expected to complete 2,500 metres of drilling
over 40 holes (See
news release
dated
May 7, 2024
). Assay results from 3 of the 14 holes
completed have been received and significant results are presented in Table 1 below. SPC Nickel
anticipates completion of drilling by the end of August with additional assay results to follow when
available.
Highlights:
Hole WG-24-087, intersected
1.05% Ni and 0.30% Cu over 16.0 metres
from 32.0 to 48.0
metres. This interval is part of a wider interval that returned
0.63% Ni and 0.24% Cu over 41.0
metres
from 10.0 to 41.0 metres (Table 1).
Hole WG-24-088, intersected
1.41% Ni and 0.33% Cu over 16.0 metres
from 20.0 to 36.0
metres. This interval is part of a wider interval that returned
0.87% Ni and 0.32% Cu over
37.95 metres
from 13.0 to 42.0 metres (Table 1).
Grant Mourre
, CEO and President of SPC Nickel commented,
"When we announced the
commencement of drilling at West Graham in May we emphasised our focus on evaluating the
Project's potential as a low-strip, higher-grade starter pit. These near-surface results provide clear
support for this approach. Importantly, the assays we are releasing today are also of significantly
higher grade than those released with the indicated In-Pit resource announced in
January 2024
,
which only encourages our already strong belief in the economic upside of the Project. We are
extremely pleased with these first results and, after a promising start to our 2024 drill campaign,
we eagerly anticipate sharing additional assays over the summer."
Assay Results
Table 1:
Reported 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)
Estimated
True
Width %
WG-24-086
10.00
40.00
30.00
0.46
0.25
0.01
0.05
0.02
0.01
1.84
100
WG-24-087
10.00
51.00
41.00
0.63
0.24
0.02
0.04
0.02
0.02
1.41
95
including
32.00
48.00
16.00
1.05
0.30
0.03
0.06
0.02
0.03
1.82
95
WG-24-088
9.05
47.00
37.95
0.87
0.32
0.03
0.05
0.02
0.02
1.95
100
including
13.00
42.00
29.00
1.03
0.34
0.04
0.05
0.03
0.02
1.98
100
including
20.00
36.00
16.00
1.41
0.33
0.05
0.03
0.01
0.06
1.75
100
Notes:
1.
Length refers to downhole length. Estimated True Width is expressed as a percentage of downhole length.
Figure 1: 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. Interval lengths reported above are downhole lengths. See Table 1 for true width
estimations. (CNW Group/SPC Nickel Corp.)
About the West Graham Deposit
The West Graham Project 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, West Graham 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.
In
January 2024
, SPC Nickel announced the maiden Mineral Resource Estimate (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 Indicated Resource 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.
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.
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.
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 10-JUL-24