SPC Nickel intersects 0.62% NiEq over 40.83 metres at Lockerby, Ontario

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SPC Nickel Corp. [SPC-TSXV] reported the final batch of assay results from the 2022 drill program at the 100%-owned Lockerby East project located in Sudbury, Ontario. These results expand the high-grade mineralized zone while also adding confidence in the continuity of the historic resource, which further advances the Company towards its goal of defining a near surface resource at West Graham.

Highlights: New assay results include hole WG-22-013 that intersected a broad zone of Ni-Cu mineralization over 40.83 metres grading 0.62% Nickel Equivalent (NiEq) from 204.17 to 245.00 metres, including a higher-grade zone of 0.82% NiEq. over 8.0 metres.

All drill holes returned Ni-Cu intersections consistent or better than the historic West Graham resource. Highlights include 82.6 metres grading 0.68% NiEq. (WG-22-008, previously reported).

Step-out drilling further defined and expanded the high-grade core of the West Graham resource. Highlights include 24.0 metres grading 0.97% NiEq. (WG-22-001, previously reported).

Grant Mourre, CEO and President, commented, “The drill program at West Graham is now complete and has been a resounding success. Not only have we achieved much improved geological confidence in the historic resource, but we also significantly expanded the high-grade envelopes, discovered new zones of high-grade massive sulphide mineralization and interpreted a number of new high-grade shoots. We believe that an updated Resource Estimate at West Graham, scheduled for some time in 2023, will provide the market with a better understanding of this strategic asset’s value potential. We feel the West Graham deposit is developing into a key asset of the Company in what is arguably the top Nickel camp in the world.”

The unmined near-surface West Graham Nickel-Copper sulphide deposit contains over 47,000 tonnes of nickel and 34,000 tonnes of copper in indicated and inferred historical resources occurs on SPC’s Lockerby East Property which also hosts the past-producing Lockerby East Mine.

The company recently completed an 18-hole, 5,200-metre drill program designed to further evaluate and expand the higher-grade Ni-Cu zone hosted within the larger West Graham deposit.

The company considers the West Graham and Lockerby East resource estimates to be historic mineral resources for purposes of NI 43-101. SPC considers the historic resource estimates to be relevant to an understanding of the West Graham Project but has not done any work to validate the estimates.

The Lockerby East Project hosts both the historic West Graham and Lockerby East deposits. In 2009, First Nickel Inc. disclosed a historical resource estimate 1 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. As an example, drill hole WG-26 intersected a broad zone of mineralization grading 0.73% Ni, 0.28% Cu over 71.33 metres (from 56.69 metres), including a higher-grade section that returned 1.09% Ni, 0.41% Cu over 39.47 metres. 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 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 metric tons of nickel and 10.8 million metric tons 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 complexes 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 focused on exploring for Ni-Cu-PGMs within the world class Sudbury Mining Camp. The company is currently exploring its key exploration projects Lockerby East and Aer-Kidd both located in the heart of the Sudbury Mining Camp and holds an option to acquire 100% interest in the Janes Project located approximately 50 km northeast of Sudbury.

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