Market Herald logo


Be the first with the news that moves the market
  • SPC Nickel (SPC) has announced it has finished a geophysical survey at its Janes Property
  • Canadian Exploration Services did the survey and targeted the northern region of the property
  • Newly identified anomalies indicate there has historically been little to no exploration
  • Moving forward, the company anticipates completing a detailed geological mapping of the property
  • Shares of SPC Nickel dipped 2.94 per cent to C$0.33 as of 3:59 p.m. EDT

SPC Nickel has finished a geophysical survey in addition to identifying a wide range of high priority anomalies at its Janes Property.

The survey, which was done by Canadian Exploration Services, used a 3D induced polarization survey and targeted the northern region of the property as well as the area around Trenches 1 and 4.

The trenches recently had sample results that returned values up t0 2.25 grams per tonne (g/t) of palladium, 0.41 g/t of platinum, 0.43 g/t of gold and 0.50 per cent nickel over a continuous length of 22 metres.

Survey results from Target A indicated a northeast by southwest trending linear chargeability anomaly spanning 125 metres wide by 600 metres long. According to the company, this corresponds with the known mineralization near Trenches 1 and 4.

Meanwhile Target B survey results demonstrated a large 300 metre by 450 metre chargeability anonamly in a region where there has been little to no exploration.

The final target area, Target C, showed a broad zone of northwest by southeast rending chargeability anomalies that are close to the extensive northwest by southeast trending mafic dyke.

“It is extremely exciting to see so many high priority IP targets generated from this initial survey. The results clearly show chargeability responses associated with the known mineralization at Trenches 1 and 4 (Target A) and newly identified anomalies at Targets B and C that have seen little to no exploration in the past,” Grand Mourre, CEO of SPC Nickel, said in a release.

Moving forward, the company anticipates finishing geological mapping of the property and a drill program geared towards expanding and defining known zone of mineralization of the geophysical anomalies.

The Janes Property, which is located roughly 50 kilometres northeast of Sudbury in the Janes Township in the Sudbury Mining District, includes 2,900 hectares of mining claims.

The company has the option to earn 100 per cent interest in the property by spending C$355,000 in cash, $155,000 in shares and $227,000 in exploration feeds over a five year period.

Shares of SPC Nickel dipped 2.94 per cent to C$0.33 as of 3:59 p.m. EDT

More From The Market Herald

" Osino Resources (TSXV:OSI) upsizes private placement

Osino Resources (OSI) has increased the size of its private placement due to strong investor demand.

" South Star Battery Metals (TSXV:STS) increases non-brokered private placement

South Star Battery Metals (STS) has announced an increase to its non-brokered private placement of units to raise approximately $2,300,000.

" EMX (TSXV:EMX) closes royalty portfolio acquisition from SSR Mining

EMX Royalty Corp. (EMX) closed its acquisition of royalty interest and deferred payments from SSR Mining Inc. and certain subsidiaries.

" Omai Gold (TSXV:OMG) continues outlining gold mineralization

Omai Gold Mines (OMG) is reporting additional results from the drilling program currently underway at the Omai Gold Project in Guyana.