SPC Nickel Intersects 16.5 Metres of 0.84% Nickel Equivalent from Second Batch of Drilling Results at the Lockerby East Nickel- Copper Project, Sudbury, Ontario
SPC Nickel Intersects 16.5 Metres of 0.84%
Nickel Equivalent from Second Batch of
Drilling Results at the Lockerby East Nickel-
Copper Project, Sudbury, Ontario
Sudbury, Ontario--(Newsfile Corp. - July 13, 2022) -
SPC Nickel Corp. (TSXV: SPC)
(
"SPC Nickel"
or
the
"Company"
), is pleased to announce assay results from a further 4 out of 18 diamond drill holes
from the completed 2022 drill program at its 100% owned Lockerby East Project (the "Project") located
in Sudbury, Ontario.
The Lockerby East Project hosts both the past producing Lockerby East Mine and the unmined, near-
surface West Graham Nickel-Copper sulphide deposit that contains over 47,000 tonnes of nickel and
34,000 tonnes of copper in indicated and inferred historical resources. The Company previously
announced the commencement of a
14 hole, 4,200 metre
drill program designed to further evaluate and
expand the extents of the higher-grade Ni-Cu zone hosted within the larger West Graham deposit (see
April 27, 2022 press release
)
. As a result of better than estimated drilling rates, an additional 990
metres in 4 holes were added to the program resulting in a total of 5,200 metres in 18 holes being
completed. Results from WG-22-001, were previously released and reported
38.0 metres grading
0.75% nickel equivalent ("NiEq.")
(see
June 13, 2022 press release
).
New assay results from the next 4 holes are reported in Table 1.
Highlights:
1
.
Hole
WG-22-003
,
intersected a broad zone of Ni-Cu mineralization over
76.0 metres grading
0.54% NiEq.
from 82.0 to 158.0 metres, including a higher-grade zone of
0.84% NiEq.
over 16.5
metres.
2
.
Hole
WG-22-002
,
intersected a broad zone of Ni-Cu mineralization over
42.0 metres grading
0.48% NiEq.
from 79.0 to 121.0 metres, including a higher-grade zone of
0.80% NiEq.
over 16.0
metres.
3
.
Assay results from the remaining 13 holes are expected to be released over the upcoming months
as the results become available.
Grant Mourre, CEO and President of SPC Nickel commented
, "We continue to be pleased with our
drilling on the West Graham section of the Lockerby East Project. These new results combined with
previously announced results from hole WG-22-001, further confirm the presence of multiple higher-
grade zones and demonstrate the potential for West Graham to be a significant nickel asset for SPC
in an already established nickel camp."
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.
Assay Results
Table 1: Assay results from the West Graham drilling on the Lockerby East Project.
To view an enhanced version of this graphic, please visit:
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1. Width refers to downhole length. True widths for WG-22-001 are estimated at 90%, WG-22-002 are 90%, WG-22-003 are 80%, WG-22-004 are
85% and WG-22-005 are 60% of the downhole lengths.
2. Previously published in June 13th, 2022, Press Release.
3. 3E PGM represents Pd g/t + Pt g/t + Au g/t.
4. NiEq.% = Ni%+ Cu% x 0.32 + Co% x 0.53 and does not factor in Pt, Pd, Au or Ag values. No allowances have been made of recovery losses that
may occur should mining eventually result. The NiEq.% calculation used in this release is consistent with the relative metal prices used in the West
Graham resource report published by First Nickel Inc. in 2009.
Figure 1
: Plan map of the West Graham deposit showing pierce points of all reported holes and historic
holes used in the 2009 resource estimate
1
. Red dashed line is the outline of the West Graham resource
projected to surface. Shaded red area are the high-grade zones with NiEq. values of ~1.0%.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6510/130737_e0f6bb27042eb8e6_003full.jpg
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 context of the Sudbury Mining Camp, 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 ~1% NiEq. 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.
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 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.
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.
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 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.
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:
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