SPC Nickel Corp. (SPC -TSX.V) (“SPC Nickel” or the “Company”), is
pleased to announce the commencement of a 4,200 metre drill program on the 100% owned Lockerby East Ni-Cu Project (the “Project”), located in the world class Sudbury Mining Camp.
Grant Mourre, CEO and President of SPC Nickel Corp. commented, “We are very excited to start our fully funded
drill program at the Lockerby East Project. The commencement of this much anticipated drill program will provide us with an excellent opportunity to establish a shallow nickel sulphide resource in a world class stable mining camp.”
LOCKERBY EAST PROJECT
The Lockerby East Project hosts both the historic West Graham and Lockerby East deposits. In 2009, First Nickel Inc. disclosed a historical resource estimate1 of 8.55Mt @ 0.45% Ni and 0.31% Cu (indicated) and 2.0Mt @ 0.38% Ni and 0.30% Cu (inferred) for the West Graham deposit. These grades have economic potential in the Sudbury context as the deposit is located very near to surface and may be amenable to low-cost open pit mining. The deposit is characterized by a broad zone of disseminated to semi-massive sulphide that ranges from 1.7 to 66 metres thick and strikes for 375 metres with a dip extent of up to 533 metres. Within the larger resource, a distinct zone of higher-grade mineralization grading in excess of 1% Ni is present. As an example, drill hole WG-26 intersected a broad zone of mineralization grading 0.73% Ni, 0.28% Cu over 71.33 metres1 (from 56.69 metres) including a higher-grade section that returned 1.09% Ni, 0.41% Cu over 39.47 metres1. At depth, the West Graham deposit is interpreted to be contiguous with the high-grade Lockerby East deposit where historic resources of 0.22 Mt @ 2.43% Ni and 0.78% Cu2
(indicated + inferred) are hosted.
2022 Exploration Program
The 2022 drill program will include approximately 14 holes totalling 4,200 metres of drilling designed to further evaluate and expand the extents of the high-grade Ni-Cu zone hosted within the larger West Graham deposit. In addition, borehole geophysical surveys will be completed on a series of historic holes in order to define additional targets in the ‘gap zone’ between the larger West Graham deposit and the high-grade Lockerby East deposit that occurs at depth. The goal of the program is to establish a near surface, updated nickel sulphide resource estimate on the West Graham deposit in a world class stable nickel mining camp.
About the Sudbury Mining Camp3
The Sudbury Mining Camp is the 2nd largest Ni camp in the world, with over 130 years of continuous production. Since the discovery of the original ore deposits, over 11.1 million metric tons of Ni and 10.8 million metric tons of Cu together with by-products of cobalt, silver, gold and platinum group elements have been mined from the deposits. Production continues to be generated from eight major mine complex and 21 smaller ore deposits around the outer margin of the Sudbury Basin; the principal mines are owned and operated by international mining companies (Vale, Glencore, and KGHM International). The economic wealth generated at Sudbury in terms of nickel
and copper value alone is close to US$500 billion.
