SPC Nickel Identifies Significant, Untested Conductive Zones at the Muskox Cu-Ni-PGM Project, Nunavut
Geophysics confirms deep conductive zones at Muskox, advancing the company's 2027 drill plan.
SPC Nickel Corp. has released results from its first ground-based magnetotelluric (MT) survey at its 100%-owned Muskox Cu-Ni-PGM Project in Nunavut. Conducted by Quantec Geoscience between July 6 and August 14, 2026, the survey covered 60 km² and modelled resistivity down to a depth of 2,500 metres.
Key findings include a large deep conductive anomaly on Line 150+00N extending from 750 to 2,000 metres depth. This feature contains a central core greater than 500 x 500 metres located within the interpreted Keel Zone or Feeder Dyke. Shallow anomalies, defined as those less than 500 metres deep, correlate with the 2025 HELITEM airborne EM survey, validating previous targets.
The geophysical update was bundled with the issuance of 2,450,000 stock options with a $0.08 exercise price and September 2031 expiry, 1,200,000 restricted share units (RSUs), and 400,000 deferred share units (DSUs) to management and directors.
The release also cited historical drill highlights, including 7.50m @ 6.14% Cu, 2.76% Ni, 9.06 g/t PGM. However, the qualified person noted that there is insufficient work to assess true thickness and that the historical data is unverified.
SPC Nickel Corp. (SPC) released magnetic and electromagnetic survey results that serve as a direct follow-up to the August 12, 2026 field program update and the October 7, 2026 HELITEM modelling release. The identification of deep conductive zones and their correlation with shallow electromagnetic targets confirm the company's exploration methodology is functioning as planned. This update materially de-risks the target generation process for the planned 2027 diamond drill program by providing a clearer three-dimensional structural model.
The news is expected and incremental, aligning with the company's stated 2026-2027 exploration roadmap. It does not introduce new surprises or significantly alter the capital structure. The company also announced bundled equity compensation, which is standard for exploration-stage companies. This represents an incremental dilution of approximately 3.05 million fully diluted shares but does not alter the operational trajectory.
SPC Nickel Corp. is a pre-revenue exploration company focused on district-scale copper, nickel, and platinum group metal assets in Canada. Its flagship asset is the Muskox Cu-Ni-PGM Project, a 496 km², 100%-owned property in Nunavut. The Muskox intrusion is analogous to Norilsk and Voisey’s Bay, featuring a 125 km long system with a 60 km feeder dyke and a keel zone. Permits for drilling and camp operations are already in place.
The company also holds the Lockerby East Property in the Sudbury Mining District, Ontario. This secondary asset comprises the West Graham deposit, which reported a maiden mineral resource estimate of 19.3 Mt Indicated @ 0.42% Ni, 0.28% Cu, and the LKE deposit. SPC Nickel Corp. is currently in the advanced exploration stage, with no formal resource or reserve estimates released for Muskox.