2024 Exploration Program Yields up to 19.5% Cu, 9.42% Ni and 107.3 g/t PGMs from Surface Sampling at SPC Nickel’s Muskox Project, Nunavut
9 September 2024
Sudbury, Ontario – (September 9, 2024) – SPC Nickel Corp. (TSX-V:SPC) (“SPC Nickel” or the “Company”), is pleased to report assay results from its 2024 exploration program at the Company’s 100%-owned 650 km2 Muskox Ni-Cu-PGM Project (“Muskox” or the “Project”) located approximately 75 km south of the coastal Hamlet of Kugluktuk within the Kitikmeot Region of Nunavut.
Results confirm widespread high-grade base and precious metal mineralization associated with multiple geological environments within the Muskox Intrusion. The Muskox Intrusion is one of the last undeveloped district-scale Ni-Cu-PGM prospects in the world. The Project shares a similar geological environment to many of the world’s largest nickel-copper mining camps such as Norilsk, Voisey’s Bay and Sudbury and represents an excellent opportunity to make a world class discovery.
Assay Highlights
• Equinox Target
o 19.50% Cu, 0.06% Ni, 6.40 g/t Pd, 0.87 g/t Pt, 0.41 g/t Au
o 9.21% Cu, 9.42% Ni, 11.10 g/t Pd, 0.54 g/t Pt, 0.32 g/t Au
o 7.89% Cu, 0.26% Ni, 93.10 g/t Pd, 6.69 g/t Pt, 7.57 g/t Au
• Pyrrhotite Lake Target
o 9.02% Cu, 0.11% Ni, 1.88 g/t Pd, 0.03 g/t Pt, 0.29 g/t Au
o 2.09% Cu, 2.71% Ni, 0.63 g/t Pd, 0.03 g/t Pt, 0.06 g/t Au
o 2.55% Cu, 0.05% Ni, 27.9 g/t Pd, 11.4 g/t Pt, 5.28 g/t Au
• Speers Lake Target
o 12.40% Cu, 0.04% Ni, 3.85 g/t Pd, 0.96 g/t Pt, 0.58 g/t Au
o 6.79% Cu, 1.19% Ni, 4.82 g/t Pd, 0.54 g/t Pt, 0.99 g/t Au
o 1.06% Cu, 1.94% Ni, 0.84 g/t Pd, 0.04 g/t Pt, 0.05 g/t Au
• 33 rock grab samples assayed >2% Ni+Cu with 14 assaying >5% Ni+Cu
• Significant PGM-enrichment is indicated by 7 samples assaying >10.0 g/t PGM Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. More detailed results are presented in Tables 1,2,3 below while a comprehensive compilation of grab samples may be found on SPC Nickel’s web site here.Assay Highlights
• Equinox Target
- 19.50% Cu, 0.06% Ni, 6.40 g/t Pd, 0.87 g/t Pt, 0.41 g/t Au
- 9.21% Cu, 9.42% Ni, 11.10 g/t Pd, 0.54 g/t Pt, 0.32 g/t Au
- 7.89% Cu, 0.26% Ni, 93.10 g/t Pd, 6.69 g/t Pt, 7.57 g/t Au
• Pyrrhotite Lake Target
- 9.02% Cu, 0.11% Ni, 1.88 g/t Pd, 0.03 g/t Pt, 0.29 g/t Au
- 2.09% Cu, 2.71% Ni, 0.63 g/t Pd, 0.03 g/t Pt, 0.06 g/t Au o
- 2.55% Cu, 0.05% Ni, 27.9 g/t Pd, 11.4 g/t Pt, 5.28 g/t Au
• Speers Lake Target
o 12.40% Cu, 0.04% Ni, 3.85 g/t Pd, 0.96 g/t Pt, 0.58 g/t Au
o 6.79% Cu, 1.19% Ni, 4.82 g/t Pd, 0.54 g/t Pt, 0.99 g/t Au
o 1.06% Cu, 1.94% Ni, 0.84 g/t Pd, 0.04 g/t Pt, 0.05 g/t Au
• 33 rock grab samples assayed >2% Ni+Cu with 14 assaying >5% Ni+Cu
• Significant PGM-enrichment is indicated by 7 samples assaying >10.0 g/t PGM
Note that grab samples are selective by nature and values reported may not be representative of mineralized zones. More detailed results are presented in Tables 1,2,3 below while a comprehensive compilation of grab samples may be found on SPC Nickel’s web site here.
Grant Mourre, President and CEO of SPC Nickel commented, “Having spent more than 25 years exploring for magmatic Ni-Cu-PGM sulphides, I can say without a doubt that the Muskox Project represents one of the best undeveloped district-scale opportunities that I have ever seen. The presence of high-grade copper-PGM footwall veins with values up to 19.5% Cu and multiple ounces of PGM’s is truly spectacular and uncommon outside of the known Ni-Cu-PGM districts. Our field work at Muskox, including this most recent program, has significantly advanced our understanding of the opportunity and leads us to conclude that previous exploration has only scratched the surface of the true potential of the Muskox Intrusion. Muskox’s scale and mineral prospectivity demonstrate the kind of project profile that is normally associated with major mine developers. It is truly a potentially transformative project in the heart of an emerging Tier 1 jurisdiction.”