SPC Nickel Intersects 2.48% Nickel and 0.64% Copper over 7.8 metres at the West Graham Project, Sudbury, Ontario
SPC Nickel Intersects 2.48% Nickel and 0.64%
Copper over 7.8 metres at the West Graham
Project, Sudbury, Ontario
SUDBURY, ON
,
April 11, 2023
/CNW/ -
SPC Nickel Corp.
(TSX-V: SPC) (
"SPC Nickel"
or the
"Company"
), is pleased to announce initial assay results from its Phase 1 drilling campaign at the
recently consolidated West Graham and Crean Hill 3 properties (collectively, the "West Graham
Project"), including results of the massive sulphides reported in hole WG-23-026 (see news release
dated
March 27, 2023
).
Highlights
Hole WG-23-026, intersected
2.48% Ni, 0.64% Cu over 7.8 metres
within a larger 143.0 metre
wide zone (see Table 1) of 'West Graham-style' mineralization consisting of 5 to 20%
disseminated to blebby sulphides.
Individual massive sulphide samples returned values as high as
5.88% Ni
over 0.57 metres (see
Table 2).
Hole WG-23-020, intersected
0.53% Ni, 0.27% Cu (0.63% NiEq) over 44.0 metres
(see Table
1).
To date, fourteen holes for 2,097 metres have been completed (See Figure 1). Assays from all
holes not listed in Table 1 are pending.
Grant Mourre
, CEO and President of SPC Nickel commented, "We are excited to announce the first
assay results from our current drilling on the Crean Hill 3 side of the West Graham Project. These
results demonstrate two important facts: first, the massive sulphide intersected in hole WG-23-026
confirms that the property has the potential to host high-grade, high-tenor nickel-copper massive
sulphides between the previous wide spaced drilling completed in the 1950's; and second, the
results to date of our infill drilling has returned thick intervals of nickel and copper mineralization that
is consistent with or better than the historic indicated and inferred resource. Given that we have only
just started the infill drilling program with many holes left to drill, we're excited to continue to grow
and expand the mineralized zone on the West Graham Property."
Assay Results
Table 1: Assay results from the Phase 1 drill program on the West Graham Project. For hole WG-
23-026, only the semi-massive to massive sulphide section that was reported in the Company news
release of
March 27, 2023
, are listed below. The remaining assay results are pending.
Table 1: Assay results from the Phase 1 drill program on the West Graham Project. For hole WG-
23-026, only the semi-massive to massive sulphide section that was reported in the Company news
release of March 27, 2023, are listed below. The remaining assay results are pending. (CNW
Group/SPC Nickel Corp.)
Notes:
1. Width refers to downhole length. True widths for WG-23-020 are estimated at 100%. The true width for WG-23-026 can not be determined with the available data.
2. 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.
3. 3E PGM represents Pd g/t + Pt g/t + Au g/t.
Figure 1: Plan map of the current area of drilling on the West Graham Property showing the collar
locations and drill traces of the completed holes. Also highlighted is the downhole distribution of
West Graham-style mineralization and semi-massive to massive sulphide mineralization intersection
in each of the completed holes. (CNW Group/SPC Nickel Corp.)
Figure 2: Section 476345mE showing the location of holes 019, 020, 022 and 023. Only assay
results for 020 are displayed on hole traces. Section is orientated north to south, viewing direction
west, section with is 25 metres. (CNW Group/SPC Nickel Corp.)
Figure 3:
Section 476345mE showing the location of holes 026 and 027. Only partial assay results
from 026 are displayed on hole traces. Section is orientated west - east, viewing direction north,
section with is 25 metres. (CNW Group/SPC Nickel Corp.)
Table 2: Individual sample results from the reported WG-023-026 sulphide intersection.
Table 2: Individual sample results from the reported WG-023-026 sulphide intersection. (CNW
Group/SPC Nickel Corp.)
Notes:
Refer to Table 1. BDL represents "Below Detection Limits'.
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. 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.
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.
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
Graham West Resource and the Crean Hill 3 property under option from Vale. The Company 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 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.
SOURCE
SPC Nickel Corp.
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For further information:
is available at www.spcnickel.com by contacting: Grant Mourre, Chief
Executive Officer, SPC Nickel Corp., Tel: (705) 669-1777, Email: [email protected]
CO: SPC Nickel Corp.
CNW 08:26e 11-APR-23