SPC Nickel (TSXV: SPC) shares were up more than 20% Wednesday on new assay results from 13 of 30 holes at its West Graham project near Sudbury, Ont., part of its ongoing phase 2 drill program, with over 6,748 metres already completed.
One of the highlights of the program is hole WG-23-047, which intersected a high-grade section returning 1.27% nickel and 0.47% copper over 18 metres from 245 to 263 metres within a thick zone of nickel and copper mineralization grading 0.70% nickel and 0.32% copper over 50 metres from 221 to 271 metres.
“The drill program successfully demonstrates the robust upside potential at West Graham, where we have not yet reached the limit of the strike and depth continuity of the main mineralized zone,” said SPC Nickel president and CEO Grant Mourre.
SPC expects to publish its first mineral resource estimate this year.
More than 12,000 metres in 57 holes have been completed on West Graham since early March, with assay results from 40 holes completed.
SPC shares were up 20% on Wednesday in Toronto to 6¢, valuing the company at $7.5 million. Its shares traded in a 52-week window of 4¢ and 13¢.
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