SPC Nickel drills 2.48% nickel over 7.8 metres at West Graham, Ontario
SPC Nickel Corp. [SPC-TSXV] released initial assay results from its phase 1 drilling campaign at the recently consolidated West Graham and Crean Hill 3 properties, Ontario, (collectively, the West Graham project), including results of the massive sulphides reported in hole WG-23-026.
Highlights: Hole WG-23-026 intersected 2.48% nickel, 0.64% copper over 7.8 metres within a larger 143.0-metre wide zone of “West Graham-style” mineralization consisting of 5 to 20% disseminated to blebby sulphides.
Individual massive sulphide samples returned values as high as 5.88% nickel over 0.57 metres. Hole WG-23-020 intersected 0.53% nickel, 0.27% copper (0.63% NiEq) over 44.0 metres.
To date, 14 holes for 2,097 metres have been completed; some are pending.
Grant Mourre, CEO and President, commented, “We are excited to announce the first assay results from our current drilling on the Crean Hill 3 side of the West Graham Project. These results demonstrate two important facts: first, the massive sulphide intersected in hole WG-23-026 confirms that the property has the potential to host high-grade, high-tenor nickel-copper massive sulphides between the previous wide spaced drilling completed in the 1950s; and second, the results to date of our infill drilling has returned thick intervals of nickel and copper mineralization that is consistent with or better than the historic indicated and inferred resource. Given that we have only just started the infill drilling program with many holes left to drill, we’re excited to continue to grow and expand the mineralized zone on the West Graham Property.”
The Lockerby East Project hosts both the historic West Graham and Lockerby East deposits. In 2009, First Nickel Inc. disclosed a historical resource estimate of 8.55Mt of 0.45% Ni and 0.31% Cu (indicated) and 2.0Mt of 0.38% Ni and 0.30% Cu (inferred) for the West Graham deposit. These grades have economic potential in the context of the Sudbury Mining Camp, 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 ~1% NiEq. is present. 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 of 2.43% Ni and 0.78% Cu (indicated + inferred) are hosted.
The company considers the West Graham and Lockerby East resource estimates to be historic mineral resources for purposes of NI 43-101.
The Sudbury Mining Camp is the second largest nickel camp in the world, with over 130 years of continuous production. Since the discovery of the original ore deposits, over 11.1 million tonnes of nickel and 10.8 million tonnes of copper, 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.
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 Graham West Resource and the Crean Hill 3 property under option from Vale S.A. [VALE-NYSE].
The company 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).