SPC Nickel (TSX: SPC) reported significant nickel and copper assay results from its West Graham Project in Sudbury, Ontario on Wednesday, with high-grade zones returning up to 2.48 per cent nickel, 0.64 per cent copper over 7.9 metres.
A 5,000 metre drill program is currently underway to confirm, upgrade, and extend the historical Nickel-Copper resources in the consolidated property boundary of the West Graham Project.
The program’s primary focus is to evaluate the geological potential of the property and explore its mineralization zones. The project has so far received results from 22 holes, out of which 9 have been reported.
Hole WG-23-026 has returned significant mineralization results. The hole intersected a thick zone of nickel and copper mineralization over 80.9 metres, grading 0.49 per cent nickel, 0.25 per cent copper, including the previously reported high-grade zone.
The high-grade zone returned 2.48 per cent nickel, 0.64 per cent copper (2.72 per cent NiEq.) over 7.9 metres. This is a promising development and suggests that the ongoing drill program is on the right track in confirming and upgrading the historical resources.
Another hole, WG-23-025, has intersected 47.0 metres of mineralization, grading 0.56 per cent nickel, 0.30 per cent copper (0.67 per cent NiEq.) from 20.0 to 67.0 metres. It also included a higher-grade zone of 0.72 per cent nickel, 0.42 per cent copper (0.87 per cent NiEq.) over 23.0 metres from 42.0 to 65.0 metres.
Aerial plan map of the West Graham area showing the relative locations of the historic Crean Hill 3, West Graham and Lockerby East resources. Image via SPC Nickel Corp.
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Furthermore, individual semi-massive sulphide samples from WG-23-027 have returned high values of up to 3.33 per cent nickel, 0.23 per cent Cu over 0.50 metres. These results reinforce the project’s potential and provide further encouragement for the ongoing drilling program.
“Our focus remains on working towards delivering a combined mineral resource estimate at the West Graham Project by the end of 2023,” said Grant Mourre, CEO and President of SPC Nickel.
On January 23, 2023, SPC Nickel signed an agreement with Vale Canada, a subsidiary of Brazillian mining company, Vale S.A. (NYSE: VALE), granting SPC Nickel the right to earn 100 per cent interest in the Crean Hill 3 Property, which is adjacent to SPC Nickel’s West Graham Property.
The combination of these two advanced projects presents a contiguous near-surface deposit, with historical mineral resources that include Crean Hill 3’s estimate of 16.78Mt at 0.43 per cent nickel and 0.30 per cent copper (0.53 per cent NiEq.) and West Graham’s indicated mineral resource of 8.55Mt at 0.45 per cent nickel, 0.31 per cent copper (0.55 per cent NiEq.) and inferred mineral resource of 2.0Mt at 0.38 per cent nickel, 0.30 per cent Cu (0.48 per cent NiEq.).
This agreement provides SPC Nickel with an excellent opportunity to further advance its mineral exploration and mining objectives.
SPC Nickel shares are down 4.8 per cent and trading at $0.10 on the TSX Venture Exchange.
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