SPC Nickel Corp. have announced that the company has entered into an agreement with Vale Canada Limited designed to consolidate and unlock the full potential of the adjacent and contiguous West Graham and Crean Hill 3 nickel-copper deposits (collectively, the project) located in the world class Sudbury Mining Camp. The agreement grants SPC Nickel the right to acquire a 100% interest in the surface and mineral rights of the Crean Hill 3 Property as therein described. In consideration, certain rights and royalties will be extended to Vale across the combined project.
SPC’s CEO Grant Mourre commented on the agreement:
“The signing of this agreement with Vale represents a transformative growth opportunity for SPC Nickel and its shareholders. Over the past 12 months we have been working closely with Vale to develop an agreement that is mutually beneficial for both parties. The consolidated West Graham and Crean Hill 3 deposits gives SPC Nickel, as operator, the ability to optimise synergies during the exploration, development and production stages of the project. We are very excited about the opportunities that this agreement brings to SPC Nickel and are looking forward to getting drills turning on the property in 2023.”
Synergistic Asset Combination Opportunity
The West Graham and Crean Hill 3 deposits constitute the eastern and western contiguous portions of a large near-surface nickel-copper sulfide deposit at the base of the Sudbury Igneous Complex. The properties are located adjacent to the past-producing Lockerby and Crean Hill Mines, approximately 20 km southwest of the City of Sudbury, Ontario and Vale’s Clarabelle Mill. Haul roads and high-voltage electrical power infrastructure are present at the property boundary.
SPC Nickel’s CEO Grant Mourre commented on the Crean Hill 3 Property:
“The ability to consolidate the West Graham and Crean Hill 3 properties into one contiguous land package represents an amazing opportunity for the company. With the addition of the Crean Hill 3 Property, we see a path for SPC Nickel to significantly grow the West Graham Deposit into a high-quality nickel-copper asset in one of the top nickel mining camps in the world. Our recently completed drill programme at West Graham has provided the technical team with a firm understanding of the types of mineralisation we expect to define on the Crean Hill 3 Property and, more importantly, the controls on mineralisation that we expect to guide us to higher-grade opportunities across the combined project.”