SPC Nickel Intersects 24 Metres of 0.97% Nickel Equivalent at the Lockerby East Nickel- Copper Project, Sudbury, Ontario
SPC Nickel Intersects 24 Metres of 0.97%
Nickel Equivalent at the Lockerby East Nickel-
Copper Project, Sudbury, Ontario
Sudbury, Ontario--(Newsfile Corp. - June 13, 2022) -
SPC Nickel Corp. (TSXV: SPC)
(
"SPC Nickel"
or the
"Company"
), is pleased to announce the first assay results from the on-going 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 historic West
Graham deposit. Previously, the Company announced the commencement of a 14 hole, 4,200 metre drill
program designed to further evaluate and expand the extents of the high-grade Ni-Cu zone hosted within
the larger West Graham deposit (see April 27, 2022 press release). Assay results from the first hole
have been completed and are reported in Table 1.
Highlights:
Hole WG-22-001,
intersected a broad zone of Ni-Cu mineralization
over 38.0 metres grading
0.75% nickel equivalent ("NiEq.") (0.63% Ni, 0.33% Cu, 0.02% Co
) from 38.0 to 76.0 metres.
Included within the broad zone of mineralization was a high-grade zone returning values of
0.97%
NiEq. (0.83% Ni, 0.40% Cu, 0.03% Co)
over 24.0 metres.
The values returned from WG-22-001 are consistent or better than those used to generate the
2009 West Graham resource.
The drilling campaign continues at the Lockerby East Project with one drill currently turning. Since
the start of the program a total of 2,600 metres in 10 holes have been completed.
Drilling has been focused on defining and expanding the high-grade zone of the historic West
Graham deposit, where values of ~1.0% NiEq. occur.
Grant Mourre, CEO and President of SPC Nickel commented
, "We are delighted to have received
results for the first hole from the West Graham drill program located on our Lockerby East Property.
As expected, drilling so far has intersected broad zones of sulphide mineralization with grades and
thicknesses comparable to the historic resource. With the intersection of a thick zone of
~
1% Nickel
Equivalent grade, we have confidence that our drill program will continue to expand the extents of the
high-grade mineralized zone. Additional results from other holes will be published as they become
available."
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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Note: 3E PGM represents Pd g/t + Pt g/t + Au g/t. See Quality Assurance, Quality Control and Qualified Persons section of news release.
Figure 1
: Plan map of the West Graham deposit showing pierce points of WG-22-001 and historic holes
used in the 2009 resource estimate. 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%.
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Figure 2
: Plan map of the West Graham deposit, refer to Figure 1 for the location of the map. Assay
intervals include the intersections as reported in the 2009 resource report as well as well as any high-
grade intervals.
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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.
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 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.
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.
Lengths are drill intersections and not necessarily true widths. True thicknesses cannot be accurately
estimated due to the irregular nature of the mineralized zone. The geological interpretations in this news
release are solely those of the Company. The locations and distances highlighted on all maps in this
news release are approximate.
Where used in this news release: NiEq.% = Ni%+ Cu% x 0.32 + Co% x 0.53 and does not factor in Pt,
Pd, Au or Ag values. The NiEq.% calculation used in this release is consistent with the West Graham
resource report published by First Nickel Inc. in 2009.
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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