SPC Nickel Intersects Shallow Mineralization Grading 1.07% Nickel and 0.44% Copper over 12.5 metres at West Graham Project
Sudbury, Ontario – (September 13, 2023) – SPC Nickel Corp. (TSX-V:SPC) (“SPC Nickel”), is pleased to release additional Phase 2 assay results from a series of short holes drilled immediately beneath the surface exposure of the West Graham mineralized zone. Recent geological mapping by SPC and historical sampling by Vale Canada have outlined the surface exposure of the mineralization over a 300 metre by 150 metre area north of the norite-granite footwall contact and south of any drilling completed during the Phase 1 or 2 programs (see Figure 2). Initial results from the short 16 hole program have confirmed the down-dip extension of the surface mineralization with thick mineralized intervals at grades equal to or better than the historical West Graham mineral resource. This work has further demonstrated the potential for any future development at West Graham to be open-pit amenable.
A total of 13,254 metres in 62 holes have so far been completed on the West Graham Project since drilling commenced in early March. The Phase 1 program consisted of 5,338 metres in 27 holes and was completed in late May while a total of 7,916 metres in 35 holes, including the 16 short holes mentioned above, have been completed from the ongoing Phase 2 program, (Figure 1, 3).
Highlights:
- WG-23-062: 0.87% Ni, 0.41% Cu over 20.00 metres (1.00-21.00 metres) including 1.07%
Ni, 0.44% Cu over 12.50 metres (6.50 to 19.00 metres).
- WG-23-061: 0.48% Ni, 0.24% Cu over 34.00 metres (14.00-48.00 metres) including 2.07%
Ni, 0.15% Cu over 1.15 metres (15.60 to 16.75 metres).
Length refers to downhole length. Estimated true thickness ratios are provided in Table 1.
Grant Mourre, CEO and President of SPC Nickel commented, “Today’s results continue to demonstrate the robust fundamentals of the West Graham Project. We continue to intersect thick intervals of near surface mineralization, which are equal to or better than the historical mineral resource. These recent results combined with our previous reported drill intersections demonstrate that we are growing a significant nickel resource within the world class Sudbury Mining Camp. The West Graham Project benefits from in place infrastructure, has year-round road access, access to hydroelectric power, and several processing facilities within kilometres of the site. We’re looking forward to announcing additional drilling results and a maiden Mineral Resource estimate for the Project by the end of 2023.”
For detailed sections across the West Graham Property, please visit the website at https://spcnickel.com/projects/lockerby-east/ under Current Program or click on the following link West Graham Sections.
Assay Results
Table 1: Reported assay results from the Phase 2 drill program on the West Graham Project. Assays from all holes not listed in Table 1 are pending.
| HOLE ID | From To Length (m) (m) (m)1 | Ni Cu Co (%) (%) (%) | Pt Pd Au Ag (g/t) (g/t) (g/t) (g/t) | Estimated True Width % |
|---|---|---|---|---|
| WG-23-059 | 23.00 37.00 14.00 | 0.53 0.37 0.02 | 0.04 0.02 0.03 1.95 | 100 |
| WG-23-060 | 12.00 42.00 30.00 | 0.32 0.20 0.01 | 0.02 0.01 0.01 1.49 | 100 |
| WG-23-061 including including | 14.00 48.00 34.00 14.00 26.00 12.50 15.60 16.75 1.15 | 0.48 0.24 0.02 0.66 0.26 0.02 2.07 0.15 0.07 | 0.03 0.01 0.02 1.57 0.03 0.02 0.01 1.58 0.03 0.03 0.01 2.17 | 90 90 90 |
| WG-23-062 including | 1.00 21.00 20.00 6.50 19.00 12.50 | 0.87 0.41 0.03 1.07 0.44 0.04 | 0.07 0.03 0.05 2.45 0.08 0.03 0.04 2.20 | 90 90 |
Notes:
1. Length refers to downhole length. Estimated True Width is expressed as a percentage of downhole length. Bold text denotes intervals with a Ni% grade multiplied by downhole length greater than 15.
Previously Reported Results
Table 2: Previously reported assay results from the West Graham Project.
| Hole ID | From To Length (m) (m) (m)1 | Ni Cu Co (%) (%) (%) | Pt Pd Au Ag (g/t) (g/t) (g/t) (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 including including | 47.00 91.00 44.00 75.00 83.00 7.00 87.00 91.00 4.00 | 0.53 0.27 0.02 0.75 0.39 0.03 1.03 0.62 0.04 | 0.05 0.02 0.02 1.41 0.06 0.02 0.02 1.86 0.07 0.05 0.03 2.85 | 100 100 100 |
| WG-23-021 including including | 41.00 72.00 31.00 42.00 46.00 4.00 58.00 63.00 5.00 | 0.46 0.29 0.02 0.63 0.46 0.02 0.66 0.30 0.02 | 0.06 0.02 0.02 1.50 0.10 0.03 0.04 2.40 0.04 0.02 0.01 1.50 | 90 90 90 |
| WG-23-022 including | 61.00 81.00 20.00 76.00 80.00 4.00 | 0.51 0.26 0.02 0.85 0.46 0.03 | 0.03 0.01 0.01 1.12 0.05 0.02 0.02 1.80 | 100 100 |
| WG-23-023 including | 45.00 83.00 38.00 71.00 82.00 11.00 | 0.47 0.28 0.02 0.71 0.41 0.02 | 0.04 0.02 0.02 1.45 0.07 0.02 0.04 2.09 | 90 90 |
| WG-23-024 and | 29.00 48.00 19.00 56.00 61.00 5.00 | 0.46 0.25 0.02 0.93 0.50 0.03 | 0.04 0.01 0.02 1.21 0.06 0.02 0.02 4.18 | 100 100 |
| WG-23-025 including | 20.00 67.00 47.00 42.00 65.00 23.00 | 0.56 0.30 0.02 0.72 0.42 0.02 | 0.05 0.02 0.02 1.85 0.08 0.03 0.03 2.73 | 90 90 |
| WG-23-026 including including | 106.00 186.90 80.90 167.00 186.90 19.90 170.00 177.90 7.90 | 0.49 0.25 0.02 1.19 0.37 0.04 2.48 0.64 0.08 | 0.05 0.02 0.02 1.29 0.09 0.02 0.02 1.29 0.15 0.04 0.02 1.82 | 35 35 35 |
| WG-23-027 including | 68.00 120.50 52.50 96.65 120.50 23.85 | 0.43 0.27 0.01 0.57 0.33 0.02 | 0.05 0.02 0.02 1.49 0.06 0.02 0.03 1.79 | 85 85 |
| Hole ID | From To Length (m) (m) (m)1 | Ni Cu Co (%) (%) (%) | Pt Pd Au Ag (g/t) (g/t) (g/t) (g/t) | Estimated True Width % |
|---|---|---|---|---|
| including | 111.00 120.50 9.50 | 0.83 0.37 0.02 | 0.09 0.03 0.03 2.16 | 85 |
| WG-23-028 including including | 79.00 275.85 196.85 89.00 110.00 21.00 93.60 95.00 1.40 | 0.32 0.19 0.01 0.72 0.18 0.03 3.73 0.27 0.17 | 0.04 0.01 0.02 1.07 0.03 0.01 0.01 0.75 0.06 0.07 0.01 1.26 | 30 30 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 including | 20.00 52.00 32.00 39.00 46.00 7.00 | 0.60 0.36 0.02 0.98 0.54 0.03 | 0.07 0.02 0.03 2.02 0.15 0.38 0.04 3.00 | 45 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-23-034 including | 59.00 90.00 31.00 96.00 97.65 1.65 | 0.27 0.19 0.01 0.67 0.34 0.02 | 0.04 0.01 0.01 1.26 0.05 0.03 0.03 2.29 | 50 50 |
| WG-23-035 | 43.00 51.00 8.00 | 0.26 0.21 0.01 | 0.04 0.02 0.02 1.25 | 80 |
| WG-23-036 | 97.00 102.00 5.00 | 0.39 0.23 0.01 | 0.05 0.02 0.01 1.54 | 45 |
| WG-23-037 including including | 147.00 188.65 41.65 174.00 188.65 14.65 174.00 179.00 5.00 | 0.50 0.34 0.02 0.81 0.51 0.02 1.21 0.69 0.04 | 0.08 0.02 0.03 1.64 0.14 0.04 0.05 2.61 0.14 0.04 0.05 3.32 | 50 50 50 |
| WG-23-038 | 130.00 140.00 10.00 | 0.43 0.25 0.01 | 0.06 0.02 0.21 1.31 | 75 |
| WG-23-039 including | 191.50 241.00 49.50 224.00 241.00 17.00 | 0.36 0.28 0.01 0.43 0.49 0.01 | 0.05 0.02 0.02 1.49 0.08 0.03 0.04 2.58 | 40 40 |
| WG-23-040 | 169.00 209.00 40.00 | 0.46 0.32 0.01 | 0.07 0.02 0.03 1.90 | 60 |
| WG-23-041 including including | 237.00 276.00 39.00 243.00 250.00 7.00 262.82 275.00 12.20 | 0.43 0.36 0.01 0.60 0.49 0.02 0.60 0.54 0.02 | 0.17 0.03 0.06 2.04 0.10 0.03 0.04 2.13 0.36 0.05 0.11 3.46 | 55 55 55 |
| WG-23-042 including including and and | 256.00 306.00 50.00 286.00 306.00 20.00 286.90 291.70 4.80 331.00 331.40 0.40 336.90 337.20 0.30 | 1.06 0.34 0.03 1.71 0.46 0.05 3.15 0.21 0.09 6.23 0.30 0.14 7.07 0.09 0.15 | 0.15 0.04 0.04 1.71 0.17 0.06 0.06 2.61 0.15 0.11 0.02 0.95 0.10 0.12 0.03 2.60 0.04 0.07 0.01 2.50 | 75 75 75 75 75 |
| WG-23-043 including including including and | 212.00 280.00 68.00 246.00 280.00 34.00 266.00 275.00 9.00 277.50 280.00 2.50 304.10 304.60 0.50 | 0.46 0.36 0.01 0.64 0.50 0.02 0.94 0.68 0.02 0.96 1.02 0.02 6.09 0.07 0.12 | 0.09 0.02 0.03 1.90 0.12 0.03 0.04 2.64 0.19 0.05 0.06 3.83 0.05 0.04 0.04 4.58 0.81 0.30 0.03 2.50 | 60 60 60 60 60 |
| WG-23-044 including | 362.35 375.40 13.05 369.25 375.40 6.15 | 0.74 0.81 0.02 0.96 1.33 0.03 | 0.22 0.05 0.10 4.84 0.26 0.08 0.18 8.04 | 45 45 |
| WG-23-045 and and | 286.00 296.00 10.00 302.05 304.00 1.95 307.55 308.55 1.00 | 0.33 0.24 0.01 0.54 0.75 0.02 0.81 1.12 0.02 | 0.12 0.02 0.03 1.33 0.21 0.05 0.11 4.93 0.31 0.09 0.37 8.50 | 60 60 60 |
| Hole ID | From To Length (m) (m) (m)1 | Ni Cu Co (%) (%) (%) | Pt Pd Au Ag (g/t) (g/t) (g/t) (g/t) | Estimated True Width % |
|---|---|---|---|---|
| WG-23-046 including Including | 381.55 402.35 20.80 381.55 387.30 5.75 395.30 402.35 7.05 | 0.46 0.58 0.01 0.51 0.59 0.01 0.89 1.09 0.02 | 0.32 0.04 0.14 4.03 0.76 0.08 0.07 3.79 0.29 0.06 0.35 7.63 | 65 65 65 |
| WG-23-047 including | 221.00 271.00 50.00 245.00 263.00 18.00 | 0.70 0.32 0.02 1.27 0.47 0.04 | 0.14 0.03 0.04 1.57 0.20 0.05 0.04 2.16 | 80 80 |
| WG-23-048 including | 196.00 229.10 33.10 216.00 230.00 14.00 | 0.54 0.38 0.02 0.76 0.60 0.02 | 0.09 0.03 0.03 1.98 0.14 0.06 0.05 3.03 | 85 85 |
| WG-23-049 including | 271.00 302.00 31.00 289.00 299.00 10.00 | 0.46 0.38 0.01 0.69 0.47 0.02 | 0.12 0.03 0.04 1.78 0.16 0.04 0.05 2.10 | 70 70 |
| WG-23-050 including | 118.00 143.00 25.00 130.00 141.00 11.00 | 0.53 0.34 0.02 0.76 0.48 0.02 | 0.07 0.02 0.03 1.82 0.10 0.03 0.04 2.56 | 85 85 |
| WG-23-051 | 86.00 111.05 25.05 | 0.28 0.23 0.01 | 0.04 0.02 0.02 1.11 | 100 |
| WG-23-052 including including | 174.00 228.00 54.00 184.60 208.00 23.40 202.50 206.15 3.65 | 0.55 0.29 0.02 0.78 0.35 0.02 1.24 0.21 0.04 | 0.07 0.02 0.03 1.45 0.07 0.02 0.02 1.63 0.11 0.03 0.02 0.92 | 60 60 60 |
| WG-23-053 and and | 256.00 259.85 3.85 276.75 281.00 4.25 294.00 299.00 5.00 | 0.41 0.35 0.01 0.49 0.29 0.02 0.52 0.35 0.01 | 0.04 0.02 0.02 2.09 0.08 0.02 0.03 1.62 0.30 0.06 0.05 2.10 | 90 90 90 |
| WG-23-054 including | 339.00 384.15 45.15 348.70 369.00 20.30 | 0.38 0.28 0.01 0.55 0.38 0.01 | 0.18 0.06 0.05 1.74 0.17 0.04 0.06 2.30 | 85 85 |
| WG-23-055 and | 335.00 354.30 19.30 382.5 394.00 11.50 | 0.36 0.22 0.01 0.35 0.25 0.01 | 0.09 0.02 0.03 1.00 0.19 0.03 0.05 0.92 | 75 75 |
| WG-23-056 and | 455.00 480.75 25.75 485.35 492.00 6.65 | 0.47 0.36 0.02 0.56 0.46 0.02 | 0.15 0.03 0.04 2.01 0.17 0.04 0.06 2.49 | 65 65 |
| WG-23-057 and and | 409.00 428.00 19.00 447.00 462.00 15.00 467.00 468.05 1.05 | 0.41 0.33 0.01 0.39 0.28 0.01 1.47 0.17 0.04 | 0.09 0.03 0.03 1.67 0.34 0.07 0.06 0.63 0.46 0.58 0.09 0.70 | 95 95 95 |
| WG-23-058 | 327.00 358.00 31.00 | 0.52 0.37 0.02 | 0.16 0.03 0.05 2.11 | 90 |
Notes:
1. Length refers to downhole length. Estimated True Width is expressed as a percentage of downhole length. Bold text denotes intervals with a Ni% grade multiplied by downhole length greater than 15.
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.
- 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 historical mineral estimate of 16.78Mt @ 0.43% Ni and 0.30% Cu1.
Outline of the location of Figure 2 below
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 as well as all pending holes. Location of Figure 2 is also displayed on the map. See Tables 1 and 2 for assay results.
Figure 2: Detailed map of the current area of drilling on the West Graham Project showing the collar locations and drill traces of the completed holes as well as all pending holes. Surface samples are shown as color coded triangles. Shaded red area represent the area over which nickel and copper mineralization has been observed at surface. Table 1 and 2 for results.
Figure 3: Cross section along Section 476250m E showing the geology, mineralization isoshells and drill hole locations. Section is oreintated sout th north looking to the west. Assay results of selective drill holes are shown. Refer to Table 1 and 2 for addition results.
- West Graham hosts a historical 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 historical 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 by contacting:
Grant Mourre Chief Executive Officer SPC Nickel Corp.
Tel: (705) 669-1777 Email: [email protected]