NorthWest Copper Drills Discovery Hole at East Niv –
VANCOUVER, British Columbia, Nov 08, 2021 (GLOBE NEWSWIRE) – NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce that it has Drilled a new Cu-Au Porphyry Discovery on its 100% owned East Niv property. This is the first drilling campaign ever on the property, and the results to date are very encouraging. The highlights of the first four holes are as follows:
- ENV-21-004: 81.60 meters1 0.56% copper equivalent (“CuEq”)2 comprising;
- 42.90 meters of 0.78% CuEq from 14.10 meters and including;
- 14.80 meters of 1.02% CuEq from 15.20 meters
- ENV-21-001: 72.30 meters of 0.25% CuEq from 7.65 meters including;
- 16.05 meters of 0.32% CuEq from 50.80 meters
Ten holes were drilled on the property this year to test various geological, geochemical and geophysical targets. Analysis results have been received for the first four holes with the remaining six holes pending.
“A new discovery is extremely rare in any jurisdiction, but particularly in mature and well-explored mineral belts,” said Peter Bell, President and CEO. “This new copper-gold system in the heart of British Columbia’s porphyry country is incredibly exciting and important. East Niv has been worked from prospecting, mapping, geophysics and geochemistry to drilling and discovery. It is important to note that this mineralization begins at the surface. All four holes are mineralized and intersected different parts of the system. We have a very large real estate position and are located close to infrastructure and only 40 km from the Kemess project.
“Dave Moore and his team at Serengeti have learned and worked on this goal from its first principles and deserve clear recognition,” said Mark O’Dea, President. “The NorthWest drill exploration team tested it for the first time and successfully put a new porphyry system on the map. With a new discovery in our hands, our pipeline of projects in British Columbia is becoming second to none.
1 The actual widths of the reported mineralized intervals have not been determined.
2 The assumptions used in USD to calculate the copper equivalent were metal prices of $ 3.25 / lb. Copper, $ 1,600 / oz gold, $ 20 / oz silver, and recovery is assumed to be 100% given the level of metallurgical test data available. The following equation was used to calculate the copper equivalence: CuEq = Copper (%) + (Gold (g / t) x 0.7182) + (Silver (g / t) x 0.0090).
Mineralization within the drill holes occurs in intermediate to felsic intrusions that are hosted in highly reactive mafic volcanic rocks of the Upper Triassic Takla group. These rocks and the weathering that affects them are typical of styles found in the major Cu-Au porphyry deposits located in the Stikine and Quesnel terranes in British Columbia. Mineralization includes chalcopyrite and bornite associated with hydrothermal magnetite, biotite and quartz. The mineralization generally contains a high concentration of carbonate minerals, a low concentration of pyrite and very low concentrations of potentially deleterious trace metals. The hydrothermal system is associated with coincident geophysical and geochemical anomalies that have been identified over an area of four square kilometers. To date, only a small portion of the property of over 43,000 hectares has been subjected to detailed exploration.
A table showing a full breakdown of drilling results to date is shown below:
(g / t)
(g / t)
Quality Assurance / Quality Control
Drilling completed at East Niv in 2021 was supervised by NorthWest on-site staff who collected and tracked samples and implemented a comprehensive QA / QC program using blanks, standards and duplicates to monitor the analytical accuracy and precision. Samples were sealed on site and shipped to Bureau Veritas (BV) in Vancouver BC for analysis. BV’s quality control system complies with worldwide ISO9001: 2008 quality certifications. Carrots were analyzed using a combination of BV’s MA200 method for low concentrations (ICP-MS / 4 Acid digestion) and MA370 method for higher concentrations (ICP-ES / 4 Acid digestion). The gold analysis was performed with FA430, a 30 gram fire assay with AAS finish, with gold sur-limits complemented by a gravimetric finish.
The technical aspects of this press release have been reviewed, verified and approved by Ian Neill P.Geo., Vice President Exploration of NorthWest, who is a Qualified Person as defined in National Instrument 43-101 – Disclosure standards for mining projects.
About NorthWest Copper:
NorthWest Copper is a new copper and gold explorer and developer with an exciting pipeline of projects in British Columbia. With a strong portfolio in a leading jurisdiction, Northwest Copper is well positioned to participate fully in a growing global copper market. Additional information is available on the Company’s website at www.northwestcopper.ca.
On behalf of the Board of Directors of NorthWest Copper Corp.
Director, President and CEO
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Caution Regarding Forward-Looking Statements
All statements, trend analyzes and other information contained in this press release regarding anticipated future events or results constitute forward-looking statements, including, but not limited to, statements regarding: the Company’s objectives for 2021 ; geological interpretations; planned drilling results and exploration results; the estimation of mineral resources; the extent or quality of mineral deposits; planned advancement of mining properties or programs; future operations; mining plans; prospects for future exploration; completion and timing of technical reports; NorthWest Copper’s future growth potential; and future development plans. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend”. And statements that an event or result “may”, “will”, “should”, “could” or “could” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included in this document are forward-looking statements. While NorthWest believes that the expectations reflected in such forward-looking statements and / or information are reasonable, no undue reliance should be placed on forward-looking statements, as NorthWest cannot guarantee that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in these forward-looking statements, including the risks, uncertainties and other factors identified in the filings. NorthWest periodicals with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in forward-looking statements. Significant factors that could cause actual results to differ materially from NorthWest’s expectations include the risks associated with NorthWest’s business; risks associated with reliance on technical information provided by NorthWest; risks associated with the exploration and potential development of the Company’s mineral properties; business and economic conditions in the mining industry in general; fluctuations in commodity prices and exchange rates; uncertainties relating to the interpretation of drilling results and the geology, continuity and grade of mineral deposits; the need for the cooperation of government agencies and First Nations groups in the exploration and development of properties and the issuance of required permits; the need to secure additional financing to develop properties and the uncertainty over the availability and terms of future financing; the possibility of delays in exploration or development programs and uncertainty about meeting planned program milestones; uncertainty about the timely availability of permits and other government approvals; and other risk factors as detailed from time to time and additional risks identified in documents filed by NorthWest with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management as of the date the statements are made. NorthWest assumes no obligation to update any forward-looking statements, except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.