SPC Nickel Corp. announced the start of a 1,000 metre diamond drilling program designed to test a series of high-conductivity electromagnetic (EM) anomalies located down-dip of the Company's LKE Resource ("LKE"), on its 100%-owned LKE East Property ("LKE") in the heart of the world-class Sudbury Mining Camp. This program represents the first modern drill testing of the deeper portions of the Lockerby East mineralized system and is aimed at evaluating the potential for a new, high-grade nickel-copper-PGM (Ni-Cu-PGM) discovery associated with the Sudbury Igneous Complex (SIC) contact - an area well known for hosting high-grade mineralization.
Target Overview: Drilling Details: The Company will complete a 1,000 metre wedge cut off of an existing hole to test the defined target area. Geophysical Interpretation: Targets were defined based on a re-interpretation of downhole geophysical data from several re-surveyed drillholes originally completed by Falconbridge Ltd. and First Nickel Inc.1. Conductor Strength: The target area contains multiple strong conductors (ranging from 2,000 to >20,000siens) over a 1,000 metre plunge (or dip) length. Target Potential: The LKE Depth Zone located 1,500 metres to the east contained an estimated 5.8Mt of ore grading @ 2.36% Ni and 1.29% Cu (past production + reserves + resources).
The LKE mineralization is predominately contact style, with narrow (less than 5 metres thick) high-grade semi-massive to nearly massive breccia sulphide veins anastomosing proximal to the folded granite footwall contact. LKE sulphide mineralization is characterized by a high pentlandite to pyrrhotite ratio with the overall grade, tenor and PGM content of the mineralization increasing with depth. Historical drilling completed by First Nickel Inc. returned values as high as 5.60% Ni and 1.26% Cu over a core length of 10.0 metres3.
The LKE Mineral Resource Estimate (effective as of December 4, 2023) includes: Indicated Resources of 665,000 t @ 1.17% Ni, 0.28% Cu; Inferred Resource of 124,000 t @ 0.99% Ni, and 0.42% Cu3. The deposit remains open down-dip and is in close proximity to Sudbury's established mills, smelters, and power infrastructure.
