SPC Nickel – Monthly Newsletter

Apr 8, 2023

March Highlights

Note from the CEO:

The first quarter of 2023 was a productive one for SPC Nickel; one in which we struck a consolidation deal with Vale in Sudbury, started our spring drilling campaign in that district and also consolidated land in Nunavut at the Muskox intrusion.

Our focus this year remains steadfastly on our camp in Sudbury and its opportunity to develop a world-class nickel deposit. Our mission is to complete an updated technical resource estimate by the end of the year, a milestone that we believe will underscore its vast potential and drive shareholder value.

With metals like nickel and copper integral to green technology and reducing carbon emissions, at SPC Nickel we recognize the potential of our Sudbury camp as not just another mining project, but one that could help Canada on the path to a more sustainable future.

With our spring infill drilling program there already underway, we look forward to reporting drill results and providing more insight into this project when available. In the meantime, I’d like to thank you for your continued support of SPC Nickel.

Sincerely

Grant Mourre

Highlights:

  • Consolidated deposit in Sudbury camp with Vale Agreement
  • Launched spring infill drilling program in Sudbury
  • Consolidated the Muskox intrusion with option agreement with Bathurst Metals, giving SPC Nickel control of one of the last undeveloped camp-scale Ni-Cu-PGM prospects in the world

SPC consolidates camp-scale potential Muskox Intrusion

Originally discovered by Inco in the 1950’s the Muskox intrusion, comprised of the McGregor and Speers Lake properties, is located in western Nunavut and is considered one the last undeveloped camp-scale nickel projects in the world. Comparable in size, composition and environment to other major deposits like Noril’sk in Russia and Voisey’s Bay in Labrador, the under-explored land package presents significant exploration and development potential.

Striking this deal with Bathurst gives SPC Nickel the opportunity to generate new base and precious metals targets at Muskox with a reduced risk profile, while at the same time focusing on our core assets in Sudbury. It’s a win-win for SPC Nickel shareholders and we’re excited to move forward.

Missed the original press release? You can read more about that here.

Infill drilling program at West Graham property starts

On March 1, SPC Nickel kicked off its most ambitious drilling campaign to date with the ultimate goal of enabling the company to complete a new updated mineral resource estimate across the combined properties by the end of 2023.

Phase 1 of the infill drilling program at Crean Hill 3 will focus on the area adjacent to the West Graham deposit where historical drilling returned assay values up to 80% higher than the average grade of the resource. The 5000 metre program will be the first time since 1960 that drilling has been completed and will test the continuity and grade of the mineralized zone across the property. Once Phase I is complete, SPC Nickel will move onto wide spaced drilling in a second phase.

More technical details about the drill program are available here.

Deal with Vale consolidates Sudbury deposits

Earlier in January, SPC Nickel struck a deal with nickel giant Vale Canada to consolidate the company’s West Graham, and the Crean Hill 3 nickel-copper deposits currently held by Vale, which are all located about 20 km southwest of Sudbury. The West Graham deposit sits on the company’s 100%-owned Lockerby East property and contains over 47,000 tonnes of nickel and 34,000 tonnes of copper according to a 2009 technical resource estimate by First Nickel, sporting an indicated resource of 8.55M tonnes.

The deal gives SPC Nickel the right to acquire a 100% interest in the Crean Hill 3 property and presents a transformative growth opportunity. As operator, the company will be able to optimize exploration, development and production synergies on the now contiguous land package and possibly grow the West Graham deposit into a high-quality nickel-copper asset in one of the top nickel mining camps in the world.

Read more about our deal with Vale here.

SPC in the Spotlight:

Northern Miner

The Sudbury region has long been a nickel powerhouse, spawned nickel heavyweights like Falconbridge and Inco and at one point – from 1906 to 1966 – produced more than half the world’s nickel. Northern Miner reporter Kelsey Rolfe spoke with SPC Nickel and included it in this feature story on the prolific region.

https://spcnickel.com/

Related Posts

Tags

Share This