SPC Metals Intersects 13.60 m of Ni-Cu-Co-PGM Mineralization Grading 2.49% Nickel Equivalent Below Past Producing Robinson Mine in Ontario
SPC Metals Intersects 13.60 m of Ni-Cu-Co-PGM
Mineralization Grading 2.49% Nickel Equivalent Below
Past Producing Robinson Mine in Ontario
Sudbury, Ontario--(Newsfile Corp. - November 6, 2018) -
S
PC Metals
("SPC"
, the Company
)
and
Transition Metals Corp.
(TSXV:
XTM)
("Transition
"
)
are pleased to provide a corporate update and to announce assay results from fall drilling at the
company's Aer-Kidd Project, near Sudbury Ontario. SPC is a division of Sudbury Platinum Corporation, a private company in
which by Transition Metals has a 28% ownership.
The Company has completed the drilling of two holes totaling 1,265 m to test an electromagnetic (EM) anomaly (see SPC March
5, 2018 news release) detected 350m down-dip of the past producing Robinson Mine.
Highlights:
Drill hole AK-18-030 intersected mineralization at
1
3
.35
m containing 0.
6
1%
Ni, 0.
92
%
Cu, 0.0
2
%
C
o
and
2.5
0g/t PGM
(Pt+Pd+Au) from 683.40-696.75 m including a higher grade section of
2.
3
5%
Ni,
2
.1
6
% Cu, 0.05% Co and
5
.
57
g/t PGM
over 1.25 m.
Drill hole AK-18-030A intersected mineralization at
1
3
.
6
0
m containing 0.
66
%
Ni,
1
.
22
%
Cu, 0.0
3
%
C
o
and
3.46
g/t
PGM
from 651.50-665.10 m including a higher grade section of
2.
19
%
Ni,
3.55
% Cu, 0.05% Co and
3.41
g/t PGM
over
1.10 m.
The highest grade ore intersection detected to date was discovered in drill hole AK-18-030A:
7.96% Ni, 7.50% Cu,
1.04% Co and
133.87
g/t PGM
over 0.25 m.
Scott McLean, P.Geo., CEO of SPC stated, "
We're ver
y encouraged
by the results at Aer-Kidd. The high-grade
mineralization
intersection
s
detected in
both
drill holes
demonstrate
the
property's potential
for
high-grade Ni-Cu-Co-PGM mineralization
similar to the adjacent
world
class
Totten and Victoria
deposits."
Table 1
: Highlight Drill Intersections.
Hole
From
(m)
To
(m)
Length*
(m)
Ni
wt.%
Cu
wt.%
Co
wt.%
Pt
g/t
Pd
g/t
Au
g/t
Ag
g/t
3E
g/t
S
wt.%
NiEq
%
AK-18-
030
683.40
696.75
13.35
0.61
0.92
0.02
1.52
0.69
0.29
6.74
2.50
2.79
1.88
including
683.75
685.00
1.25
2.35
2.16
0.05
2.39
2.88
0.30
13.56
5.57
8.58
5.31
including
695.40
696.75
1.35
1.39
1.15
0.03
0.92
0.37
0.15
6.84
1.44
4.89
2.54
AK-18-
030A
651.50
665.10
13.60
0.66
1.22
0.03
0.74
2.57
0.15
10.28
3.46
3.40
2.49
including
651.50
651.75
0.25
7.96
7.50
1.04
4.38
128.50
0.99
77.40
133.87
11.20
57.22
including
658.70
659.80
1.10
2.19
3.55
0.05
2.75
0.37
0.29
26.16
3.41
12.70
5.26
Note: * All intercepts reported are down
hole
lengths, not true thicknesses. Insufficient drilling has been completed to date to
define the orientation of the mineralized zone in space.
Nickel Equivalent (NiEq) is calculating utilizing $US metal prices of;
$5.30 per lb Ni, $2.80 per lb Cu, $24 per lb Co,
$865 per oz Pt, $1,100 per oz Pd, $1,225 per oz Au and $14.70 per oz Ag.
Aer-Kidd Property
, Sudbury Ontario
Located within the SW corner of the prolific Sudbury Mining Camp, the Aer-Kidd Property consists of a 1.4 km section of the
Worthington Offset Dyke (WOD). The WOD hosts several high-grade Ni-Cu-Co-PGM deposits including Vale's Totten Mine
(
10.1Mt @ 1.5% Ni, 1.97% Cu, 4.8g/t PGM
)
¹ located 1.8 km SW of the Aer-Kidd Property and KGHM's Victoria Development
Project
(
14.5Mt @ 2.5% Ni, 2.5% Cu, 7.6 g/t
PGM
)
² located 3.0 km NE of the Aer-Kidd Property. On the property, the WOD
consists of a NE-SW trending, steeply dipping composite dyke ranging in width from 40 to 70 m. The dyke displays a distinct
zonation in both inclusion and sulphide contents from the margin to the core of the dyke.
Locally, the dyke contains a core of inclusion-rich quartz diorite (IQD), which can be choked with inclusions surrounded by high-
grade semi-massive to massive sulphide mineralization. The orebodies within the WOD are primarily hosted within
discontinuous phases of the IQD that contain 10 to 80% amphibolite inclusions (AIQD) that can range in size from less than 10
cm to greater than 10 m in diameter. Zones of AIQD form discontinuous lenses within the center of the dyke that can range in
size from a few 10's of m up to 100's of m in length and width while the vertical extents of these zones can be greater than 1,000
m. The semi-massive sulphides intersected to date on the Property are associated with zones of AIQD.
Robinson Mine
Past Production
The Aer-Kidd Property hosts three past producing Ni-Cu-Co-PGM mines, the Howland Pit, Robinson Mine and the Rosen Mine
all of which are associated with pipe-like zones of AIQD. The Robinson Mine was discovered in 1887 and saw sporadic
developed and minor production over the next 30 years. Official production at the Robinson Mine began in 1966 and was
abruptly suspended in 1968 due to a fire in the hoist and compressor room. Pre-production reserves at Robinson were reported
in 1967 as 497,744
3
tons to the 800 ft level of proven and possible reserves grading 0.62% Ni and 0.71% Cu with a 10%
dilution. Production on the property lasted for a three years period from 1966 to 1968 during which an estimated 462,743 tons
4
of ore were hoisted from both the Robinson and Rosen Mines.
Robinson
Mine
(down-dip)
SPC initially targeted the area for a potential down-dip extension to the Robinson Mine. Historic drilling completed by Kidd
Copper in 1968 returned 1.46% Ni, 0.61% Cu over 28.7m (U9-E2)
5
approximately 150 m beneath the 950 ft level of the
Robinson Mine while Crowflight Minerals Inc. reported 1.42% Ni, 0.62%Cu and 1.76g/t PGM over 8.27 m (W03-03AW1)
6
approximately 500 m beneath the 950 ft level.
In 2015, SPC further tested this area with AK-15-003 and intersected 0.67% Ni,
0.99% Cu, 0.02% Co and 1.46g/t PGM over 9.15 m (see May 25
th
, 2015 News Release). Mineralization within this area occurs
as either Cu-rich disseminated to blebby sulphides, as in AK-15-003, or as massive sulphides associated with well-developed
zones of AIQD, such as in W03-03AW1. Borehole geophysical surveys in the area have identified several high-conductivity
anomalies that remain to be tested. As part of the 2017 winter drill program, SPC completed hole AK-17-025 that was collared
within the footwall to the Robinson Mine and was designed to be a geophysical platform hole down to a vertical depth of 600m.
The results of survey indicate a strong offhole anomaly 25 to 50 m down-dip of the intersections in hole U9-E2 and AK-15-003.
This anomaly was the target of both AK-18-030 and AK-18-030A.
Refer to
Figure 1
for a long section of the Robinson Mine area that highlights the reported holes as well as many of the others
mentioned in this release.
Corporate Plan
SPC is currently reviewing all of the new information collected in 2018 and incorporating the data into the geological model that
will be used for further target generation.
Opportunity for additional mineralization is interpreted to occur along the down-dip
Robinson Mine trend but also across the property (see Figure 1).
With the new information gained SPC will continue to advance its plan of completing an IPO early in 2019.
References
1
Resource reported by Inco; January 31, 2001 News Release
.
2
Resource reported by KGHM; January 16, 2012 News Release.
3
Robinson and Rosen Mine Reserve Estimate; 1967-1968 Can. Mines Handbook.
4
Robinson and Rosen Mine Reserve Estimate;
1968-1969 Can. Mines Handbook
.
5
'Kidd Copper Suspension Lasted One Week'; Northern Miner Article, January 4, 1968, No 41, pg14.
6
Crowflight Minerals Inc.
; February 05, 2004 News Release.
Qualified Person
The technical elements of this news release have been approved by Mr. Grant Mourre, P.Geo (APGO), a Qualified Person under
National Instrument 43-101. 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. Over limits for Pd were determined
using fire assay and AAS. 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. Laboratory checks are also done with one sample
in every batch (max 40 samples) being submitted to an external lab for comparison.
About Sudbury Platinum Corp
oration
SPC is a division of Sudbury Platinum Corporation, is a Canadian private corporation focused on exploring for Ni-Cu-PGM in
the Sudbury region. The Company is exploring its key 100% owned exploration projects Aer-Kidd and Lockerby East both
located in the heart of the Sudbury mining camp. Additional information regarding the company and project can be found at
www.sudburyplatinumcorp.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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information is available at
www.sudburyplatinumcorp.com
or by contacting:
Scott McLean
Chief Executive Officer
SPC Metals
www.sudburyplatinumcorp.com
Tel: (705) 669-1777
Figure 1: Robinson Zone
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2766/40885_825dcac204401b58_004full.jpg