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SPC Nickel Announces 3.15 % Nickel Equivalent over 10.5 Metres at Its Janes Ni-Cu-PGM Project
Sudbury, Ontario--(Newsfile Corp. - June 17, 2021) - SPC Nickel Corp. (TSXV: SPC) ( "SPC Nic...
About this update from Spc Nickel Corp.
[{"type":"text","content":"SPC Nickel Announces 3.15 % Nickel Equivalent over 10.5 Metres at Its Janes Ni-Cu-PGM ProjectSudbury, Ontario--(Newsfile Corp. - June 17, 2021) - SPC Nickel Corp. (TSXV: SPC) (\"SPC Nickel\" or the \"Company\") is pleased to announce partial assay results from the drill program at its Janes Ni-Cu-PGM Project (the \"Project\") located in Sudbury, Ontario. The program focused on defining the extent and continuity of the high-grade Trench 1 mineralization and consisted of 16 short, closely spaced drill holes. Assay results from the first hole have been completed and are reported in Table 1.Grant Mourre, CEO and President of SPC Nickel Corp. commented, \"We are delighted to have received results for the first hole from the Trench 1 drill program at Janes. Drilling is so far validating the high-grade nature of the mineralization that was observed at surface in a recent channel sample program. We feel the property has potential for both near-surface PGM-rich mineralization as well as high-grade massive nickel mineralization at depth. The Company will initially focus on evaluating the near-surface economic potential of the property and later transition to evaluating the potential to host massive sulphide mineralization. We are encouraged with the progress to date and look forward to reporting the results of the remaining 15 holes as they become available.\"Assay ResultsTable 1: Assay results from the Trench 1 target area.To view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/6510/87854_table1.jpgNote: 3E PGM represents Pd g/t + Pt g/t + Au g/t. Equivalent values calculated using the 30-day average metal prices of US$8.03/lb. Ni, US$4.54/lb. Cu, US$1,187/oz Pt, US$2,833/oz Pd, US$1,882/oz Au and $27.77/oz Ag. Recoveries were not used in calculations. Note that all drilling intervals are down-hole lengths. True thicknesses cannot be estimated with available information. The Trench 1 drill program is designed to test the lateral and vertical continuity of the mineralized zone that is exposed at surface in a 35 metre by 30 metres mineralized outcrop. Mineralization at the Trench 1 area is dominated by disseminated sulphides, hosted within a hypersthene-bearing gabbro unit situated 10 metres above the basal contact of the Nipissing sill and the surrounding metasediments. Earlier this year, SPC Nickel...