SUDBURY,
ON, Aug. 23, 2023 /CNW/ - SPC Nickel
Corp. (TSXV: SPC) ("SPC Nickel"), is pleased to announce
assay results at the West Graham Project, located in the
world-class Nickel-Copper mining district of Sudbury, Ontario. SPC Nickel is reporting the
first 13 holes of 30 from the ongoing Phase 2 drill program. The
Phase 2 program is well underway, with over 6,748 metres already
completed, and continues to confirm and extend historic
mineralization at expected or better grades while discovering new
high-grade mineralization. The program is on track to provide the
data required to complete an updated global resource estimate for
the West Graham Project by the end of 2023.
Highlights
- Hole WG-23-047, intersected a high-grade section that
returned 1.27% Ni, 0.47% Cu over 18.00 metres from 245.00 to
263.00 metres within a thick zone of nickel and copper
mineralization grading 0.70% Ni, 0.32% Cu over 50.00
metres from 221.00 to 271.00 metres. Length refers to downhole
length. Estimated true thickness ratios are given in Table 1.
- A total of 12,086 metres in 57 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 6,748 metres in 30 holes
have been completed from the ongoing Phase 2 program (Figure
1).
- Assay results from a total of 40 holes completed as part of the
Phase 1 and 2 programs have been received and significant results
are presented in Tables 1 and 2. Samples from the remaining 17
completed holes are being processed and will be reported when
available.
Grant Mourre, CEO and President
of SPC Nickel commented, "We are very pleased with the
excellent results we have so far received from our Phase 2 drill
program. The drill program successfully demonstrates the robust
upside potential at West Graham, where we have not yet reached the
limit of the strike and depth continuity of the main mineralized
zone. While the recently completed ground EM survey has the
potential to identify new targets within a sparsely tested footwall
environment, we're looking forward to announcing additional
drilling result and a maiden Mineral Resource estimate for the
combined deposits in 2023."
The Company is also pleased to announce the completion of a 6.5
line kilometre, ground electromagnetic (EM) survey covering a large
portion of the property. This survey represents the first ground EM
survey to date completed on the property. The objectives of the
survey are to test the contact of Sudbury Igneous Complex (SIC)
west of the ongoing Phase 1 and 2 drilling as well as to evaluate
the potential of the related footwall to host economic sulphide
mineralization similar to what is observed at other Sudbury mines.
Furthermore, we are pleased to announce that SPC Nickel has
received an Ontario Junior Exploration Program (OJEP) grant from
the Ontario Government to support our ongoing exploration
efforts.
Through the OJEP program, SPC Nickel has been selected to
receive up to $200,000 to cover 50%
of eligible explorations costs on the project, aimed at
facilitating the exploration of Critical Minerals within
Ontario. The receipt of grant
funding represents a meaningful milestone, leveraging government
support towards advancing the exploration of this high-quality
magmatic nickel project.
For detailed sections across the West Graham Property, please
visit the website at https://spcnickel.com/projects/lockerby-east/
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
(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-23-046
|
381.55
|
402.35
|
20.80
|
0.46
|
0.58
|
0.01
|
0.32
|
0.04
|
0.14
|
4.03
|
65
|
|
including
|
381.55
|
387.30
|
5.75
|
0.51
|
0.59
|
0.01
|
0.76
|
0.08
|
0.07
|
3.79
|
65
|
|
Including
|
395.30
|
402.35
|
7.05
|
0.89
|
1.09
|
0.02
|
0.29
|
0.06
|
0.35
|
7.63
|
65
|
|
WG-23-047
|
221.00
|
271.00
|
50.00
|
0.70
|
0.32
|
0.02
|
0.14
|
0.03
|
0.04
|
1.57
|
80
|
|
including
|
245.00
|
263.00
|
18.00
|
1.27
|
0.47
|
0.04
|
0.20
|
0.05
|
0.04
|
2.16
|
80
|
|
WG-23-048
|
196.00
|
229.10
|
33.10
|
0.54
|
0.38
|
0.02
|
0.09
|
0.03
|
0.03
|
1.98
|
85
|
|
including
|
216.00
|
230.00
|
14.00
|
0.76
|
0.60
|
0.02
|
0.14
|
0.06
|
0.05
|
3.03
|
85
|
|
WG-23-049
|
271.00
|
302.00
|
31.00
|
0.46
|
0.38
|
0.01
|
0.12
|
0.03
|
0.04
|
1.78
|
70
|
|
including
|
289.00
|
299.00
|
10.00
|
0.69
|
0.47
|
0.02
|
0.16
|
0.04
|
0.05
|
2.10
|
70
|
|
WG-23-050
|
118.00
|
143.00
|
25.00
|
0.53
|
0.34
|
0.02
|
0.07
|
0.02
|
0.03
|
1.82
|
85
|
|
including
|
130.00
|
141.00
|
11.00
|
0.76
|
0.48
|
0.02
|
0.10
|
0.03
|
0.04
|
2.56
|
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
|
174.00
|
228.00
|
54.00
|
0.55
|
0.29
|
0.02
|
0.07
|
0.02
|
0.03
|
1.45
|
60
|
|
including
|
184.60
|
208.00
|
23.40
|
0.78
|
0.35
|
0.02
|
0.07
|
0.02
|
0.02
|
1.63
|
60
|
|
including
|
202.50
|
206.15
|
3.65
|
1.24
|
0.21
|
0.04
|
0.11
|
0.03
|
0.02
|
0.92
|
60
|
|
WG-23-053
|
256.00
|
259.85
|
3.85
|
0.41
|
0.35
|
0.01
|
0.04
|
0.02
|
0.02
|
2.09
|
90
|
|
and
|
276.75
|
281.00
|
4.25
|
0.49
|
0.29
|
0.02
|
0.08
|
0.02
|
0.03
|
1.62
|
90
|
|
and
|
294.00
|
299.00
|
5.00
|
0.52
|
0.35
|
0.01
|
0.30
|
0.06
|
0.05
|
2.10
|
90
|
|
WG-23-054
|
339.00
|
384.15
|
45.15
|
0.38
|
0.28
|
0.01
|
0.18
|
0.06
|
0.05
|
1.74
|
85
|
|
including
|
348.70
|
369.00
|
20.30
|
0.55
|
0.38
|
0.01
|
0.17
|
0.04
|
0.06
|
2.30
|
85
|
|
WG-23-055
|
335.00
|
354.30
|
19.30
|
0.36
|
0.22
|
0.01
|
0.09
|
0.02
|
0.03
|
1.00
|
75
|
|
and
|
382.5
|
394.00
|
11.50
|
0.35
|
0.25
|
0.01
|
0.19
|
0.03
|
0.05
|
0.92
|
75
|
|
WG-23-056
|
455.00
|
480.75
|
25.75
|
0.47
|
0.36
|
0.02
|
0.15
|
0.03
|
0.04
|
2.01
|
65
|
|
and
|
485.35
|
492.00
|
6.65
|
0.56
|
0.46
|
0.02
|
0.17
|
0.04
|
0.06
|
2.49
|
65
|
|
WG-23-057
|
409.00
|
428.00
|
19.00
|
0.41
|
0.33
|
0.01
|
0.09
|
0.03
|
0.03
|
1.67
|
95
|
|
and
|
447.00
|
462.00
|
15.00
|
0.39
|
0.28
|
0.01
|
0.34
|
0.07
|
0.06
|
0.63
|
95
|
|
and
|
467.00
|
468.05
|
1.05
|
1.47
|
0.17
|
0.04
|
0.46
|
0.58
|
0.09
|
0.70
|
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 intervals are based on a Ni wt.% grade
thickness greater than 15.
|
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
|
|
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-23-034
|
59.00
|
90.00
|
31.00
|
0.27
|
0.19
|
0.01
|
0.04
|
0.01
|
0.01
|
1.26
|
50
|
|
including
|
96.00
|
97.65
|
1.65
|
0.67
|
0.34
|
0.02
|
0.05
|
0.03
|
0.03
|
2.29
|
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
|
147.00
|
188.65
|
41.65
|
0.50
|
0.34
|
0.02
|
0.08
|
0.02
|
0.03
|
1.64
|
50
|
|
including
|
174.00
|
188.65
|
14.65
|
0.81
|
0.51
|
0.02
|
0.14
|
0.04
|
0.05
|
2.61
|
50
|
|
including
|
174.00
|
179.00
|
5.00
|
1.21
|
0.69
|
0.04
|
0.14
|
0.04
|
0.05
|
3.32
|
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
|
191.50
|
241.00
|
49.50
|
0.36
|
0.28
|
0.01
|
0.05
|
0.02
|
0.02
|
1.49
|
40
|
|
including
|
224.00
|
241.00
|
17.00
|
0.43
|
0.49
|
0.01
|
0.08
|
0.03
|
0.04
|
2.58
|
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
|
237.00
|
276.00
|
39.00
|
0.43
|
0.36
|
0.01
|
0.17
|
0.03
|
0.06
|
2.04
|
55
|
|
including
|
243.00
|
250.00
|
7.00
|
0.60
|
0.49
|
0.02
|
0.10
|
0.03
|
0.04
|
2.13
|
55
|
|
including
|
262.82
|
275.00
|
12.20
|
0.60
|
0.54
|
0.02
|
0.36
|
0.05
|
0.11
|
3.46
|
55
|
|
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
|
|
WG-23-043
|
212.00
|
280.00
|
68.00
|
0.46
|
0.36
|
0.01
|
0.09
|
0.02
|
0.03
|
1.90
|
60
|
|
including
|
246.00
|
280.00
|
34.00
|
0.64
|
0.50
|
0.02
|
0.12
|
0.03
|
0.04
|
2.64
|
60
|
|
including
|
266.00
|
275.00
|
9.00
|
0.94
|
0.68
|
0.02
|
0.19
|
0.05
|
0.06
|
3.83
|
60
|
|
including
|
277.50
|
280.00
|
2.50
|
0.96
|
1.02
|
0.02
|
0.05
|
0.04
|
0.04
|
4.58
|
60
|
|
and
|
304.10
|
304.60
|
0.50
|
6.09
|
0.07
|
0.12
|
0.81
|
0.30
|
0.03
|
2.50
|
60
|
|
WG-23-044
|
362.35
|
375.40
|
13.05
|
0.74
|
0.81
|
0.02
|
0.22
|
0.05
|
0.10
|
4.84
|
45
|
|
including
|
369.25
|
375.40
|
6.15
|
0.96
|
1.33
|
0.03
|
0.26
|
0.08
|
0.18
|
8.04
|
45
|
|
WG-23-045
|
286.00
|
296.00
|
10.00
|
0.33
|
0.24
|
0.01
|
0.12
|
0.02
|
0.03
|
1.33
|
60
|
|
and
|
302.05
|
304.00
|
1.95
|
0.54
|
0.75
|
0.02
|
0.21
|
0.05
|
0.11
|
4.93
|
60
|
|
and
|
307.55
|
308.55
|
1.00
|
0.81
|
1.12
|
0.02
|
0.31
|
0.09
|
0.37
|
8.50
|
60
|
|
Notes:
|
|
1. Length refers to
downhole length. Estimated True Width is expressed as a percentage
of downhole length. Bold intervals are based on a Ni wt.% grade
thickness 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 (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 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.
SOURCE SPC Nickel Corp.