The TireRack says:
"Compact temporary spare tires are physically shorter and narrower than the vehicle's standard tires and wheels. Their smaller dimensions require they operate at higher inflation pressures than standard tires (typically 60 psi). Compact temporary spares also feature lighter-weight construction and a shallower tread depth than standard tires to reduce vehicle weight, as well as allow more trunk space to be dedicated to luggage. The compact temporary spare tire and wheel that comes with a vehicle is designed to fit that vehicle only."
The owner's manual should tell you how far you can safely drive on the compact spare and how fast you can drive on it.
If you don't have a manual, you can download one from Chevy for free.
How To Find Your Car Owner's Manual Online