The surge of interest in battery metals has prompted a Sudbury exploration firm to go public with a spinoff company focussed on advancing its nickel and copper exploration properties in the Sudbury basin.
Transition Metals officially launched SPC Nickel Corp on the TSX Venture Exchange on March 8 under the ticker SPC.
With 25 exploration projects on the go across Canada in the gold, copper, nickel and platinum space, Transition bills itself as a 'project generator,' always on the lookout to welcome to option agreements or joint ventures.
“As a project generator, we spun out our Sudbury assets into SPC Nickel in 2013 so that it could focus on Ni-Cu-PGM exploration in the world-class mining camp," said Transition CEO Scott McLean in a March 9 news release.
Formerly known as SPC Metals, the goal for this new entity, McLean said is to advance its Aer-Kidd project, a nickel, copper, platinum group metals property, located 20 kilometres southwest of Sudbury at Worthington, and situated between Vale's Totten Mine and KGHM’s Victoria Deposit.
Aer-Kidd includes the former Howland, Robinson and Rosen Mines, which operated between the 1900s and 1960s.
Exploration manager and director Grant Mourre will lead SPC Nickel with assets that also include the Lockerby East property - containing the former Creen Hill and Lockerby Mines - and the Janes property, 50 kilometres east of Sudbury.
"In addition to advancing Aer-Kidd over the past few years, SPC Nickel has also added two more highly prospective properties in the world’s second largest nickel camp. We are incredibly pleased that SPC Nickel is now public and look forward to watching it grow under the leadership of Grant Mourre, President & CEO," said McLean.
Now that SPC Nickel is publicly listed, the company has $3.6 million budgeted to do a 12 to 18-month drilling program at Aer-Kidd of between 15,000 and 20,000 metres to target areas with known and potential mineralization well below the underground workings of these former mines.