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SPC Nickel Corp. (TSXV: SPC) ("SPC Nickel" or the "Company"), is pleased to announce that a Spartan ground magnetotelluric ("MT") survey, consisting of 34 sites to be conducted by Quantec Geoscience, (the "Survey") has commenced at the Company's Aer-Kidd Project located in Sudbury, Ontario.
The Survey will focus on the east portion of the property where the Worthington Offset dyke is projected to extend beneath Perch Lake. The objective of the Survey is to highlight areas of increased conductivity that maybe related to sulphide mineralization hosted within the Worthington Offset dyke. The results of the Survey will be incorporated into the existing geological model and will be used to delineate drill target areas.
An extensive zone of amphibolite-bearing inclusion quartz diorite (AIQD), the primary host for massive sulphide mineralization on the Worthington Offset dyke, is interpreted to exist beneath Perch Lake. The AIQD zone has been intersected by 5 historic drill hole and is interpreted to extend from surface down to a vertical depth in excess of 1,500 metres. Four shallow historic drill holes completed by Crowflight Minerals Inc in 2001 reported well developed zones of AIQD containing large amphibolite fragments (up to 15.7 metres in diameter) and stringers of sulphide mineralization. These features all occur above 100 metres vertical depth. A single deep hole tested the Worthington Offset dyke at a vertical depth of 1,550 metres and intersected well developed AIQD.
What is MT?
Magnetotellurics (MT) is a long-established electromagnetic geophysical method which provides accurate sub-surface data for reliable geological interpretations. MT measures the earths' subsurface electrical conductivity using the natural geomagnetic and geoelectric field variations in the earth. MT utilizes the electrical fields generated by lightning discharges from thunderstorms that propagate through the sub-surface. MT is akin to conventional resistivity and electromagnetic surveys but incorporates magnetic fields to further help determine electrical heterogeneities between the earth and the audio frequencies.
Qualified Person
The technical elements of this news release have been approved by Mr. Grant Mourre, P.Geo. (PGO), CEO and President of SPC Nickel Corp. and a Qualified Person under National Instrument 43-101.
About SPC Nickel Corp.
SPC Nickel Corp. is a new Canadian public corporation focused on exploring for Ni-Cu-PGMs within the world class Sudbury Mining Camp. The Company is currently exploring its key 100% owned exploration projects Aer-Kidd and Lockerby East both located in the heart of the historic Sudbury Mining Camp and holds an option to acquire 100% interest in the Janes project located approximately 50 km NE of Sudbury. The Company's flagship project, Aer-Kidd, is strategically located between two world class assets in the producing Totten Mine (Vale) and the large, high-grade Victoria development project (KGHM). The Company will initially focus on advancing its key Sudbury assets with a vision of growing to a pre-eminent North American nickel exploration company. Additional information regarding the Company and its projects can be found at www.spcnickel.com.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Further information is available at www.spcnickel.com by contacting:
Grant Mourre
Chief Executive Officer
SPC Nickel Corp.
Tel: (705) 669-1777
Email: gmourre@spcnickel.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/85327