SPC Nickel Announces 3.15 % Nickel Equivalent over 10.5 metres at its Janes Ni-Cu-PGM Project

Sudbury, Ontario - (June 17, 2021) – SPC Nickel Corp. (TSX-V:SPC) (“SPC Nickel” or the “Company”), is pleased to announce partial assay results from the drill program at its Janes Ni-Cu-PGM Project (the “Project”) located in Sudbury, Ontario. The program focused on defining the extent and continuity of the high-grade Trench 1 mineralization and consisted of 16 short, closely spaced drill holes. Assay results from the first hole have been completed and are reported in Table 1.

 

Grant Mourre, CEO and President of SPC Nickel Corp. commented, “We are delighted to have received results for the first hole from the Trench 1 drill program at Janes. Drilling is so far validating the high-grade nature of the mineralization that was observed at surface in a recent channel sample program. We feel the property has potential for both near-surface PGM-rich mineralization as well as high-grade massive nickel mineralization at depth. The Company will initially focus on evaluating the near-surface economic potential of the property and later transition to evaluating the potential to host massive sulphide mineralization. We are encouraged with the progress to date and look forward to reporting the results of the remaining 15 holes as they become available.”

 

Assay Results

 

Table 1: Assay results from the Trench 1 target area

 

 

Note: 3E PGM represents Pd g/t + Pt g/t + Au g/t. Equivalent values calculated using the 30-day average metal prices of US$8.03/lb. Ni, US$4.54/lb. Cu, US$1,187/oz Pt, US$2,833/oz Pd, US$1,882/oz Au and $27.77/oz Ag. Recoveries were not used in calculations. Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information.

 

The Trench 1 drill program is designed to test the lateral and vertical continuity of the mineralized zone that is exposed at surface in a 35 metre by 30 metres mineralized outcrop. Mineralization at the Trench 1 area is dominated by disseminated sulphides, hosted within a hypersthene-bearing gabbro unit situated 10 metres above the basal contact of the Nipissing sill and the surrounding metasediments. Earlier this year, SPC Nickel completed a channel sampling program at the Trench 1 showing that returned 2.25 g/t Pd, 0.41 g/t Pt, 0.26 g/t Au, 1.09 % Cu and 0.50 % Ni over 22.00 metres (see SPC Nickel Press Release dated May 25, 2021).

 

Historic drilling completed by Pacific North West Corp. in 1999 intersected 2.28 g/t Pd, 0.33 g/t Pt, 0.20 g/t Au, 1.01 % Cu and 0.27 % Ni over 18.05 metres (from 32.0 – 50.05 metres) in JR99-011 and 2.08 g/t Pd, 0.33 g/t Pt, 0.30 g/t Au, 0.84 % Cu and 0.27 % Ni over 14.01 metres (from 9.90 – 23.91 metres) in JR99-061.

 

The historical information shown in this news release was obtained from historical work reports filed by Pacific North West Corp. with the Ontario Ministry of Energy, Northern Development and Mines and has not been independently verified by a Qualified Person as defined by NI 43 101.

 

The Trench 1 drill program consisted of 16 holes ranging in depth from 27 to 51 metres that tested an area measuring approximately 75 metres by 45 metres. Results from the first hole are presented in Table 1 while the remaining holes are being processed with results expected over the next 3 to 4 weeks. Table 2 provides collar locations, azimuths and dips for the drill hole included in this release as well as the remaining holes completed in the Trench 1 area.

 

Table 2: Drill collar locations, azimuths and dips for drill holes completed at the Trench 1 area

 

 

Reference

1. Assessment Report 2.19887, Diamond Drill Program Janes Property, Pacific North West Capital Corporation, June 25, 1999.

 

About SPC Nickel Corp.

 

SPC Nickel Corp. is a new Canadian public corporation focused on exploring for Ni-Cu-PGMs within the world class Sudbury Mining Camp. The Company is currently exploring its key 100% owned exploration projects Aer-Kidd and Lockerby East both located in the heart of the historic Sudbury Mining Camp and holds an option to acquire 100% interest in the Janes project located approximately 50 km NE of Sudbury. The Company’s flagship project, Aer-Kidd, is strategically located between two world class assets in the producing Totten Mine (Vale) and the large, high-grade Victoria development project (KGHM). The Company will initially focus on advancing its key Sudbury assets with a vision of growing to a pre-eminent North American nickel exploration company. Additional information regarding the Company and its projects can be found at www.spcnickel.com.