SPC Nickel begins drilling at Lockerby East

Executive Summary

• SPC Nickel Corp. has commenced a 1,000-metre diamond drilling program at its 100%-owned Lockerby East property in the Sudbury mining camp, Ontario.
• The program targets high-conductivity electromagnetic anomalies located downdip of the existing LKE resource, aiming to evaluate potential for new high-grade nickel-copper-platinum-group-metal (PGM) mineralization.
• The target area is characterized by strong conductors (2,000 to >20,000 siemens) and is situated less than 100 metres downdip of the LKE resource, where historical drilling intersected high-grade intervals.

Key Details

• Drilling Program: 1,000-metre wedge cut off of an existing hole to test defined target areas.
• Target Location: Downdip of the LKE resource on the Lockerby East property; less than 100 metres downdip of the LKE resource and approximately 375 metres downdip of existing underground infrastructure.
• Geophysical Data: Targets defined by reinterpretation of downhole geophysical data from resurveyed holes originally completed by Falconbridge Ltd. and First Nickel Inc.
• Conductor Strength: Multiple strong conductors ranging from 2,000 to greater than 20,000 siemens over a 1,000-metre plunge/dip length.
• Historical Context (Lockerby Depth Zone): Located 1,500 metres east, this zone contained an estimated 5.8 million tonnes grading 2.36% Ni and 1.29% Cu (past production + reserves + resources).
• Historical High-Grade Intersections: Previous drilling by First Nickel Inc. intersected 5.60% Ni and 1.26% Cu (9% Ni tenor) over 10.0 metres.
• Mineralization Trend: Nickel, copper, and precious metal grades and tenors are known to increase with depth within the West Graham-LKE system.
• LKE Resource Estimate (Effective Dec 4, 2023):
  • Indicated: 665,000 tonnes at 1.17% Ni and 0.28% Cu.
  • Inferred: 124,000 tonnes at 0.99% Ni and 0.42% Cu.
• West Graham Resource (Announced 2023):
  • Indicated: 19.3 Mt at 0.42% Ni and 0.28% Cu.
  • Inferred: 3.3 Mt at 0.37% Ni and 0.28% Cu.
• Historical Production: Former Lockerby mine produced an estimated 9.6 Mt of ore grading 1.83% Ni and 1.08% Cu from 1971 to 2015.

Notable Quotes

• "We are excited to drill the high conductivity features that are downdip from the known LKE resource. Given that the grade of mineralization on the property continues to improve with depth, the proximity of the target to the past-producing Lockerby mine and the exceptional quality of the conductive feature, this target is of the highest quality for Sudbury-style massive sulphide mineralization." — Grant Mourre, CEO