SPC Nickel Reports High-Grade Channel Sampling Results at the West Graham Project, Including 0.94% Ni and 0.44% Cu over 17.0 metres
SPC Nickel Reports High-Grade Channel
Sampling Results at the West Graham Project,
Including 0.94% Ni and 0.44% Cu over 17.0
metres
SUDBURY, ON
,
May 29, 2024
/CNW/ -
SPC Nickel Corp.
(TSXV: SPC)
("SPC Nickel"
or the
"Company"
)
, is pleased to report high-grade channel sampling results from a recent trenching
program conducted on the Company's West Graham Project located in the world-class Nickel-
Copper mining district of
Sudbury, Ontario
. The channel sampling program was completed on two
separate surface exposures of the large West Graham Ni-Cu Deposit (Figure 1), where the
Company recently announced a maiden Mineral Resource Estimate (MRE) (refer to SPC Nickel
press release
dated
January 17, 2024
).
SPC Nickel collected a total of 139 samples at 1.0 metre intervals within 8 continuous channels
totalling 138.5 metres in length. Trenching focused on two separate outcrop exposures of
mineralized norite along the contact between the Sudbury Igneous Complex (SIC) and the
surrounding footwall granite.
In 2023, SPC Nickel completed a fence of shallow drill holes immediately down-dip of the sampled
surface outcrops that all returned broad intervals of high-grade Ni-Cu sulphide mineralization.
Highlights included hole WG-23-063 that intersected
59.0 metres at 0.71% Ni, 0.38% Cu from 2.0-
61.0 metres
(refer to SPC Nickel
press release
dated
November 20, 2023
).
Highlights
CH-05E
:
0.94% Ni, 0.44% Cu over 17.0 metres
.
CH-06E:
0.62% Ni, 0.31% Cu over 38.0 metres
.
Several narrow intervals of high-grade massive sulphide were encountered including
2.87% Ni,
0.15% Cu
over 1.0 metres (CH-05E).
The surface channel sample result correlated well in both grade and thickness to the previously
reported down-dip drill intersections (Figure 2).
Grant Mourre
, CEO and President of SPC Nickel commented, "We are very pleased with the
excellent results from our recently completed channel sampling program. When combined with our
2023 drill results, today's news further highlights the potential on the Property for a low-strip ratio,
higher-grade starter pit as part of a staged development of the West Graham Resource. The strong
correlation between surface channel samples and down-dip intersections underscores the continuity
and quality of the mineralization at West Graham. These findings reinforce our confidence in the
project's ability to deliver significant shareholder value and future development potential. We are
extremely optimistic about continued exploration at West Graham and look forward to results from
the promising drill season currently underway (refer to SPC Nickel
press release
dated
May 7,
2024
)."
Assay Results
Table 1:
Reported assay results from the channel sampling program on the West Graham Project.
SAMPLE
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 %
CH-01W
0.00
13.00
13.00
0.20
0.25
0.01
0.03
0.02
0.02
1.68
70
CH-02W
0.00
6.00
6.00
0.14
0.09
0.01
0.02
0.01
0.01
0.70
70
CH-03W
0.00
15.00
15.00
0.28
0.29
0.01
0.04
0.02
0.03
1.76
70
CH-04E
0.00
6.50
6.50
0.42
0.26
0.02
0.03
0.01
0.09
1.26
70
CH-05E
0.00
17.00
17.00
0.94
0.44
0.04
0.05
0.02
0.02
2.33
70
CH-06E
0.00
38.00
38.00
0.62
0.31
0.02
0.04
0.02
0.01
1.43
70
CH-07E
0.00
13.00
13.00
0.21
0.18
0.01
0.02
0.01
0.00
1.30
70
CH-08E
0.00
13.00
13.00
0.64
0.34
0.02
0.04
0.03
0.01
1.90
NA
Notes:
1.
Length refers to surface length. Estimated true width is expressed as a percentage of total channel sample length.
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 the Lockerby East Property
The Lockerby East Property 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, the Property 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.
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
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. Additional information regarding SPC Nickel and its
projects can be found at
www.spcnickel.com
.
Figure 1: Geological plan map of the West Graham Project showing the location of the channel
samples, color coded based on grade. (CNW Group/SPC Nickel Corp.)
Figure 2: Cross section orientated S-N looking to the west. Section displays hole traces and assays
(blue callouts) from the 2023 drill program as selective results from the 2024 channel sampling
program (brown call-out). Please refer to Figure 1 for the location of the section line. Interval lengths
reported above are downhole or surface lengths. (CNW Group/SPC Nickel Corp.)
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:
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 29-MAY-24