SPC Nickel Reports Additional Drill Results at the West Graham Project, Sudbury, Ontario
SPC Nickel Reports Additional Drill Results at
the West Graham Project, Sudbury, Ontario
SUDBURY, ON
,
Aug. 13, 2024
/CNW/ -
SPC Nickel Corp.
(TSXV: SPC)
("SPC Nickel")
, is pleased
to announce additional diamond drill results from the ongoing 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).
Current drilling continues to confirm and upgrade near-surface mineralization with all mineralized
intervals exceeding the average grade of the in-pit resource published in our maiden Mineral
Resource Estimate in
January 2024
(see news release
here
) with exceptional intersections as noted
in the highlights below. Assay results from an additional 9 holes have been received and are
reported here. To date, assay results for 12 (645 metres) of the 19 holes (1,150 metres) completed
have been received. Significant results are presented below in Tables 1 and 2.
Highlights:
Hole WG-24-092, intersected
1.15% Ni and 0.29% Cu over 12.0 metres
from 15.0 to 27.0
metres. This interval is part of a wider interval that returned
0.75% Ni and 0.24% Cu over
34.85 metres
from 1.15 to 36.0 metres (Table 1).
Grant Mourre
, CEO and President of SPC Nickel commented,
"The exploration drilling results announced today continue to underscore the West Graham
Project's potential as a low-strip, higher-grade starter pit. Notably, all results from our summer drill
program to date have significantly exceeded the average grade of the In-Pit resource released in
our maiden Mineral Resource Estimate in
January 2024
. The continuity and grade we are
encountering near the surface at West Graham enhances our understanding of the Project's robust
geology which we believe underpins the economic upside at West Graham. We are encouraged by
the substantial progress we have made this summer and look forward to releasing additional
assays that will contribute toward realizing the full potential of this promising Project."
Assay Results
Table 1:
New 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-24-089
3.50
21.00
17.50
0.55
0.40
0.02
0.07
0.02
0.02
2.34
100
WG-24-090
2.80
18.00
15.20
0.52
0.33
0.02
0.04
0.04
0.02
1.84
90
WG-24-091
2.80
19.00
16.20
0.65
0.38
0.02
0.06
0.02
0.03
2.22
75
including
2.80
12.00
9.20
0.81
0.36
0.03
0.07
0.02
0.02
2.24
75
WG-24-092
1.15
36.00
34.85
0.75
0.24
0.03
0.04
0.02
0.01
1.21
90
including
15.00
27.00
12.00
1.15
0.29
0.04
0.06
0.03
0.01
1.38
90
WG-24-093
14.00
33.00
19.00
0.76
0.24
0.03
0.04
0.02
0.02
1.21
100
WG-24-094
2.00
28.00
26.00
0.54
0.28
0.02
0.03
0.02
0.01
1.62
100
including
14.00
23.00
9.00
0.81
0.36
0.03
0.03
0.02
0.02
1.97
100
WG-24-095
17.00
23.00
6.00
0.51
0.29
0.02
0.05
0.02
0.03
1.58
100
WG-24-096
3.00
19.00
16.00
0.73
0.26
0.03
0.04
0.02
0.02
1.34
100
WG-24-097
4.00
26.00
22.00
0.46
0.32
0.02
0.07
0.02
0.03
2.01
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 and 2 for true width
estimations. (CNW Group/SPC Nickel Corp.)
Table 2:
Previously 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.
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.
The technical report, titled "Mineral Resource Estimates for the West Graham and LKE Deposits,
Lockerby East Ni-Cu-PGM Sulphide Property,
Sudbury, Ontario, Canada
" can be found on the
Company's website at
www.spcnickel.com
and under the Company's issuer profile at
www.sedarplus.ca
. The MRE, in accordance with National Instrument 43-101, is effective as of
December 4, 2023
.
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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%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 13-AUG-24