SUDBURY,
ON, May 24, 2023 /CNW/ - SPC Nickel
Corp. (TSXV: SPC) ("SPC Nickel"), is pleased to announce
new assay results from Phase 1 of the West Graham Project resource
definition drilling campaign, including a new high-grade
intersection encountered in WG-23-042 representing one of the best
intersections so far reported from the consolidated West Graham
Project located in the world-class Nickel-Copper mining district of
Sudbury, Ontario.
Highlights
- Highly successful Phase 1 drill program with a total of 5,338
metres in 27 holes completed (Figure 1).
- Phase 1 program has achieved its goal of confirming the
presence of mineralization in the western portion of the West
Graham Project property while outlining areas of
higher-than-expected grade within the contact-style deposit as well
as discovering new high-grade footwall-style mineralization outside
the historical resource envelope.
- Hole WG-23-042, intersected a new zone of high-grade
mineralization grading 1.71% Ni and 0.46% Cu over 20.0
metres from 286.0 to 306.0 metres. This interval is part of a
wider interval that returned 1.06% Ni and 0.46% Cu over 50.0
metres from 256.0 to 306.0 metres (Table 1).
- Footwall-style massive sulphide veins grading 7.07% Ni and
0.09% Cu over 0.30 metres were encountered in the footwall
granites of hole WG-23-042.
- Hole WG-23-028, intersected a very thick zone of nickel
and copper mineralization over 196.85 metres grading 0.32% Ni,
0.19% Cu from 79.0 to 275.85 metres, including a higher-grade
section that returned 0.72% Ni, 0.18% Cu over 21.0 metres
from 89.0 to 110.0 metres.
- Borehole geophysics completed in holes WG-23-027, 028, 037 and
042, identified a large conductive region, measuring 200 metres by
150 metres to the west of the intersection in 042 and 028 (Figure
1).
- Assay results from 16 of the 27 holes completed have been
received and significant results are presented in Tables 1 and 2.
The remaining samples are being processed and will be reported when
available.
Grant Mourre, CEO and President
of SPC Nickel commented, "The results to date from our Phase 1
drill program have been a resounding success. The intersection of
wide zones of nickel-copper mineralization at grades equal to or
better than the grade of the historic West Graham resource further
confirms our initial investment thesis that the mineralized zone
does extend across the property boundary onto the Crean Hill 3
Property. Additionally, the high-grade mineralization intersected
in holes 36 and 42 further highlight the up-side potential of the
combined project."
"We are excited to start our Phase 2 drill program where we
will be completing wide spaced drilling to further define and
confirm the extents of the mineralized zone, while remaining
focused on working towards delivering a combined mineral
resource estimate at the West Graham Project by the end of 2023,"
added Mr. Mourre.
Assay Results
Table 1: Reported assay results from the Phase 1
drill program on the West Graham Project. Assays from all holes not
listed in Table 1 are pending.
|
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-23-028
|
79.00
|
275.85
|
196.85
|
0.32
|
0.19
|
0.01
|
0.04
|
0.01
|
0.02
|
1.07
|
30
|
|
including
|
89.00
|
110.00
|
21.00
|
0.72
|
0.18
|
0.03
|
0.03
|
0.01
|
0.01
|
0.75
|
30
|
|
including
|
93.60
|
95.00
|
1.40
|
3.73
|
0.27
|
0.17
|
0.06
|
0.07
|
0.01
|
1.26
|
30
|
|
WG-23-029
|
84.00
|
107.00
|
23.00
|
0.37
|
0.25
|
0.01
|
0.03
|
0.02
|
0.02
|
1.39
|
50
|
|
WG-23-030
|
20.00
|
52.00
|
32.00
|
0.60
|
0.36
|
0.02
|
0.07
|
0.02
|
0.03
|
2.02
|
45
|
|
including
|
39.00
|
46.00
|
7.00
|
0.98
|
0.54
|
0.03
|
0.15
|
0.38
|
0.04
|
3.00
|
45
|
|
WG-23-031
|
3.00
|
9.65
|
6.65
|
0.37
|
0.22
|
0.01
|
0.04
|
0.01
|
0.01
|
1.08
|
95
|
|
WG-23-032
|
34.50
|
42.50
|
8.00
|
0.49
|
0.38
|
0.02
|
0.05
|
0.02
|
0.03
|
2.00
|
85
|
|
WG-23-033
|
38.00
|
52.00
|
14.00
|
0.35
|
0.24
|
0.01
|
0.04
|
0.02
|
0.02
|
1.29
|
80
|
|
WG-23-042
|
256.00
|
306.00
|
50.00
|
1.06
|
0.34
|
0.03
|
0.15
|
0.04
|
0.04
|
1.71
|
75
|
|
including
|
286.00
|
306.00
|
20.00
|
1.71
|
0.46
|
0.05
|
0.17
|
0.06
|
0.06
|
2.61
|
75
|
|
including
|
286.90
|
291.70
|
4.80
|
3.15
|
0.21
|
0.09
|
0.15
|
0.11
|
0.02
|
0.95
|
75
|
|
and
|
331.00
|
331.40
|
0.40
|
6.23
|
0.30
|
0.14
|
0.10
|
0.12
|
0.03
|
2.60
|
75
|
|
and
|
336.90
|
337.20
|
0.30
|
7.07
|
0.09
|
0.15
|
0.04
|
0.07
|
0.01
|
2.50
|
75
|
|
Notes:
|
|
1. Length refers to
downhole length. Estimated True Width is expressed as a percentage
of downhole length.
|
Previously Reported
Results
Table 2: Previously reported assay results from the
Phase 1 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-23-019
|
64.00
|
93.00
|
29.00
|
0.39
|
0.25
|
0.01
|
0.04
|
0.02
|
0.02
|
1.36
|
70
|
|
WG-23-020
|
47.00
|
91.00
|
44.00
|
0.53
|
0.27
|
0.02
|
0.05
|
0.02
|
0.02
|
1.41
|
100
|
|
including
|
75.00
|
83.00
|
7.00
|
0.75
|
0.39
|
0.03
|
0.06
|
0.02
|
0.02
|
1.86
|
100
|
|
including
|
87.00
|
91.00
|
4.00
|
1.03
|
0.62
|
0.04
|
0.07
|
0.05
|
0.03
|
2.85
|
100
|
|
WG-23-021
|
41.00
|
72.00
|
31.00
|
0.46
|
0.29
|
0.02
|
0.06
|
0.02
|
0.02
|
1.50
|
90
|
|
including
|
42.00
|
46.00
|
4.00
|
0.63
|
0.46
|
0.02
|
0.10
|
0.03
|
0.04
|
2.40
|
90
|
|
including
|
58.00
|
63.00
|
5.00
|
0.66
|
0.30
|
0.02
|
0.04
|
0.02
|
0.01
|
1.50
|
90
|
|
WG-23-022
|
61.00
|
81.00
|
20.00
|
0.51
|
0.26
|
0.02
|
0.03
|
0.01
|
0.01
|
1.12
|
100
|
|
including
|
76.00
|
80.00
|
4.00
|
0.85
|
0.46
|
0.03
|
0.05
|
0.02
|
0.02
|
1.80
|
100
|
|
WG-23-023
|
45.00
|
83.00
|
38.00
|
0.47
|
0.28
|
0.02
|
0.04
|
0.02
|
0.02
|
1.45
|
90
|
|
including
|
71.00
|
82.00
|
11.00
|
0.71
|
0.41
|
0.02
|
0.07
|
0.02
|
0.04
|
2.09
|
90
|
|
WG-23-024
|
29.00
|
48.00
|
19.00
|
0.46
|
0.25
|
0.02
|
0.04
|
0.01
|
0.02
|
1.21
|
100
|
|
and
|
56.00
|
61.00
|
5.00
|
0.93
|
0.50
|
0.03
|
0.06
|
0.02
|
0.02
|
4.18
|
100
|
|
WG-23-025
|
20.00
|
67.00
|
47.00
|
0.56
|
0.30
|
0.02
|
0.05
|
0.02
|
0.02
|
1.85
|
90
|
|
including
|
42.00
|
65.00
|
23.00
|
0.72
|
0.42
|
0.02
|
0.08
|
0.03
|
0.03
|
2.73
|
90
|
|
WG-23-026
|
106.00
|
186.90
|
80.90
|
0.49
|
0.25
|
0.02
|
0.05
|
0.02
|
0.02
|
1.29
|
35
|
|
including
|
167.00
|
186.90
|
19.90
|
1.19
|
0.37
|
0.04
|
0.09
|
0.02
|
0.02
|
1.29
|
35
|
|
including
|
170.00
|
177.90
|
7.90
|
2.48
|
0.64
|
0.08
|
0.15
|
0.04
|
0.02
|
1.82
|
35
|
|
WG-23-027
|
68.00
|
120.50
|
52.50
|
0.43
|
0.27
|
0.01
|
0.05
|
0.02
|
0.02
|
1.49
|
85
|
|
including
|
96.65
|
120.50
|
23.85
|
0.57
|
0.33
|
0.02
|
0.06
|
0.02
|
0.03
|
1.79
|
85
|
|
including
|
111.00
|
120.50
|
9.50
|
0.83
|
0.37
|
0.02
|
0.09
|
0.03
|
0.03
|
2.16
|
85
|
|
Notes:
|
|
1. Length refers to
downhole length. Estimated True Width is expressed as a percentage
of downhole length.
|
Borehole Geophysics
In order to better define the continuity and distribution of the
high-grade mineralization encountered in holes WG-23-042 and
WG-23-026, borehole geophysical surveys were completed in 4
selected holes (WG-23-027, 028, 037 and 042). The surveys detected
a conductive region coincident to the intersected mineralization
and extending away from the holes to the west. The anomaly is
defined as a series of strong, overlapping conductors with
collective dimensions of at least 200 metres by 150 metres (see
Figure 1).
West Graham Project
On January 23, 2023, SPC Nickel
announced the signing of an Agreement with Vale Canada ("Vale")
granting SPC Nickel the right to earn an 100% interest in Vale's
Crean Hill 3 Property that is located adjacent to SPC Nickel's West
Graham Property (see Figure 2 for property location and SPC
Nickel's January 23, 2023 press
release for full details of the Agreement).
- As an advanced project, the combination of the West Graham and
Crean Hill 3 assets is a transformational opportunity for SPC
Nickel. The historical mineral resources on these properties form
one contiguous near-surface deposit and consists of the
following:
-
- Crean Hill 3 hosts a historic mineral estimate of
16.78Mt @ 0.43% Ni and 0.30% Cu1.
- West Graham hosts a historic indicated mineral resource of
8.55Mt @ 0.45% Ni, 0.31% Cu along with an inferred mineral
resource of 2.0Mt @ 0.38% Ni, 0.30% Cu2.
SPC Nickel considers the West Graham and Crean Hill 3 resource
estimates to be historic mineral estimates for purposes of NI
43-101. Neither the Company nor a qualified person on behalf of SPC
Nickel have done sufficient work to classify the historical
estimates as current mineral resources and SPC Nickel is not
treating such historical estimates as current mineral
resources. SPC Nickel considers the historic mineral
estimates to be relevant to an understanding of the Project but has
not done any work to validate the estimates.
Reference
|
1.
|
Van Wiechen, A.G
(1990): December 31, 1989 Mineral Resource Inventory table in: The
Exploration Potential for Sulphide Mineralization in the Crean Hill
– Ellen – Crean Hill No.3 Environment, Internal Inco Report,
December 13, 1990.
|
|
2.
|
Routledge, Richard
and Churchill, Bruce (2009): Technical Report on the West Graham
Property Conwest Zone Resource Estimate, Graham Township, Ontario,
Canada prepared for First Nickel Inc., January 15, 2009. Scott
Wilson Roscoe Postle Associates .
|
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.
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 West Graham Resource
and the Crean Hill 3 property under option from Vale. 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.
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.
Further information is available at
www.spcnickel.com
SOURCE SPC Nickel Corp.
