SPC Nickel assays 0.71% Ni at Lockerby East in Ontario

SPC Nickel (TSXV: SPC) has provided further assay results from the recently completed 2022 drill program at its 100% owned Lockerby East project in the Sudbury mining camp of Ontario. The Lockerby East property hosts both the past-producing Lockerby East mine and the unmined, near-surface West Graham nickel-copper sulphide deposit.

In April, SPC Nickel initiated a 14-hole, 4,200-metre drill program designed to further evaluate and expand the extents of the higher-grade nickel-copper zone hosted within the larger West Graham deposit. Due to better than estimated drilling rates, an additional 990 metres in four holes were later added to the program, resulting in a total of 5,200 metres in 18 holes being completed.

Results from the first hole, WG-22-001, were previously released and returned 38 metres grading 0.63% nickel and 0.33% copper. The latest batch of results include four additional holes: WG-22-002 to 005. Two of those were highlighted by the company.

Hole WG-22-003 intersected a broad zone of nickel-copper mineralization over 76 metres grading 0.44% nickel and 0.27% copper, including a higher-grade zone of 0.71% nickel and 0.36% copper over 16.5 metres.

Hole WG-22-002 also intersected a broad zone of nickel-copper mineralization over 42 metres grading 0.40% nickel and 0.22% copper, including a higher-grade zone of 0.69% nickel and 0.30% copper over 16 metres.

Results from the remaining 13 holes are pending.

"These new results combined with previously announced results from hole WG-22-001, further confirm the presence of multiple higher-grade zones and demonstrate the potential for West Graham to be a significant nickel asset for SPC in an already established nickel camp," Grant Mourre, president and CEO of SPC Nickel, said.

Located 20 km west of Sudbury, Ont., the Lockerby East property comprises approximately 390 hectares of freehold mining patents. It lies adjacent to the historic Lockerby mine and hosts the past-producing Lockerby East deposit, both of which were put into production by Falconbridge in 1971.

In 2004, Falconbridge decided to close the mining operation and placed it on care and maintenance before selling the assets to First Nickel in 2005, and the mines resumed commercial production. However, in 2015, First Nickel closed the Lockerby mine and entered into receivership due to low metal prices and production issues.

From 1971 to 2015, the Lockerby and Lockerby East mines had produced an estimated 9.6 million tonnes of ore grading 1.83% nickel and 1.08% copper. In 2016, SPC Nickel (formerly Sudbury Platinum) acquired the Lockerby East and West Graham properties, combining them into a single project.

The historic resource for the Lockerby East project was previously provided by First Nickel. The West Graham deposit had indicated resources totalling 8.6 million tonnes grading 0.45% nickel and 0.31% copper, along with an inferred resource of 2.0 million tonnes grading 0.38% nickel and 0.30% copper. The Lockerby East deposit, meanwhile, has only 180,000 tonnes indicated grading 2.32% nickel and 0.87% copper, along with an inferred resource of 40,000 tonnes grading 2.90% nickel and 0.80% copper.

Visit www.spcnickel.com for additional background on the Lockerby East project.