Business
Transition Metals Congratulates SPC Nickel on its Progress
Highlights Transition Metals owns 9.3 million shares of SPC Nickel SPC Nickel intersected ...
About this update from Transition Metals Corp.
[{"type":"text","content":"Transition Metals Congratulates SPC Nickel on its ProgressHighlightsTransition Metals owns 9.3 million shares of SPC NickelSPC Nickel intersected 143m of disseminated mineralization including 7.8m of semi-massive sulphide at its West-Graham Nickel ProjectSPC Nickel Consolidated the Muskox Ni-Cu-PGM PropertySudbury, Ontario--(Newsfile Corp. - March 30, 2023) -  Transition Metals Corp (TSXV: XTM) (\"Transition\", \"the Company\") congratulates SPC Nickel Corp (TSXV: SPC) (“SPC”) on the significant progress it has made to date. SPC Nickel was formed as a spin-out of Transition Metals and the Company holds 9,321,868 SPC shares after having completed 5,678,132 SPC share dividends to XTM shareholders in February, 2021 (See Company news release of February 24, 2021).Company CEO, Scott McLean, P.Geo., commented \"We are very pleased with the progress made by SPC to date. The company is drilling an exceptional development stage nickel opportunity in arguably the worlds best nickel mining camp consolidated for the first time in the heart of Sudbury nickel mining camp, Ontario. In addition, it now controls a huge, prospective camp scale nickel exploration project at Muskox which represents one of the last mineralized, Large Igneous Provinces in the world to test for discovery. Transition is delighted to own approximately 7.5% of the outstanding shares of SPC and will anxiously await drilling results.\"West-Graham PropertySPC Nickel is currently drilling its West Graham Nickel Project located in the heart of the Sudbury Mining Camp. The property was recently consolidated with Vale's Crean Hill 3 Property through a Cooperation Agreement (See SPC news release of January 23, 2023). The consolidation brings together a large deposit of near surface, high tenor nickel sulphides that formerly could not be exploited due to fractional ownership. The SPC owned portion of the property hosts at surface subcropping deposits of high tenor Ni-Cu-PGM mineralization, that includes the unmined near-surface West Graham nickel-copper Deposit estimated to contain over 47,000 tonnes of nickel and 34,000 tonnes of copper in indicated and inferred resources as defined in a technical report published by First Nickel Inc. in 2019. The Crean Hill 3 property under option to SPC hosts historic mineralization drilled by Vale (formerly Inco) that ...