VANCOUVER, British Columbia, Nov. 16, 2021 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce that drilling at Kwanika has encountered multiple intersections of high-grade copper-gold porphyry mineralization. These holes extend the high-grade part of Kwanika. All five holes have intercepts of greater than 1% copper equivalent mineralization and contain meaningful gold grades. These results reinforce the high-grade nature and continuity of this deposit. Highlights are presented below:
These holes are a continuation of the Company’s angle hole drill program designed to expand and improve the high-grade part of the Kwanika resource 3 . These five holes are in the “Boot” target area which forms the conceptual block cave portion of the resource as defined by the 2019 resource shape. The holes are below and down plunge from the previously released 2021 near-surface drilling, which targeted the conceptual open pit defined in the 2019 study.
“The Kwanika high-grade drill program continues to deliver exceptional results,” commented President and CEO Peter Bell. “The discovery of a new very high-grade style of mineralization in hole K-21-217 was really exciting for Kwanika exploration. This new batch of five holes is a reminder that the porphyry mineralization at Kwanika itself is characterized by very high grades. Every hole in this release has material thicknesses of greater than 1% copper equivalent demonstrating the wide distribution of high grades throughout the deposit. In addition, hole K-21-216 includes a significant thickness of material above 2.5% copper equivalent including a significant gold contribution.”
Table 1: Significant Drill Results From This News Release
|Drill Hole||From (m)||To (m)||Interval (m)¹||Cu (%)||Au (g/t)||Ag (g/t)||CuEq² (%)|
NorthWest’s goals at Kwanika in 2021 included expanding the high-grade zone and improving the grade within it by drilling angled holes across mineralized structural zones with closer-spaced drilling. All our results to date have provided results exceeding these goals.
NorthWest has focussed on the high-grade portion of Kwanika and adjacent high-grade Stardust deposit since the Company was created in March. Multiple high-grade Kwanika assay results 4 followed releases of favourable Stardust metallurgy in April 2021 5 and an expanded high-grade Stardust resource in May 2021. These high-grade results, the previously released near-surface results, and drill hole K-21-217, will support an updated Kwanika resource planned for Q4 2021. We still have additional results to be received and released including additional holes from Kwanika, Stardust and East Niv.
Each drill hole reported here exhibits similar geology. Copper-gold porphyry-style mineralization is hosted by diorite and monzonite intrusions. Highest grade intervals correlate with the abundance of very well-mineralized quartz-sulphide veins that contain chalcopyrite variably accompanied by bornite, and additional disseminated mineralization occurs in strong potassic alteration between and related to the veins. Mineralization is mostly hypogene sulphide, but a zone of paleo-supergene mineralization is typically present at the top of the mineralized interval. Late- to post-mineral dykes locally cut the copper-gold mineralization.
Quality Assurance / Quality Control
Drilling completed at Kwanika in 2021 was supervised by on-site NorthWest personnel who collected and tracked samples and implemented a full QA/QC program using blanks, standards and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Bureau Veritas (BV) in Vancouver BC for analysis. BV’s quality control system complies with global certifications for Quality ISO9001:2008. Core samples were analyzed using a combination of BV’s MA200 process for low level concentrations (ICP-MS/4 Acid digestion) and the MA370 process for higher level concentrations (ICP-ES/4 acid digestion). Gold assaying was completed with FA430, a 30-gram fire assay with AAS finish. Base metal overlimits were finalized with titration where required, with gold overlimits completed with a gravimetric finish. A silica wash was used between high-grade samples to ensure no sample carry over.
Technical aspects of this news release have been reviewed, verified and approved by Ian Neill P.Geo., Vice President Exploration of NorthWest, who is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Minerals Projects .
About NorthWest Copper:
NorthWest Copper is a new copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. Additional information can be found on the Company’s website at www.northwestcopper.ca .
On Behalf of the Board of Directors of NorthWest Copper Corp.
Director, President and CEO
For further information, please contact:
|Adrian O’Brien, Director Marketing & Communications
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Statements
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements including but not limited to statements with respect to: the Company’s goals for 2021; geological interpretations; anticipated drill results and exploration results; the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; mine plans; future exploration prospects; the completion and timing of technical reports; future growth potential of NorthWest Copper; 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 “might” occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although NorthWest believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since NorthWest can give no assurance 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 such forward-looking statements, including the risks, uncertainties and other factors identified in NorthWest’s periodic filings 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 the forward-looking statements. Important factors that could cause actual results to differ materially from NorthWest’s expectations include risks associated with the business of NorthWest; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Company’s mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in NorthWest’s filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com ). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. NorthWest does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
1 True widths of the reported mineralized intervals have not been determined.
2 Assumptions used in USD for the copper equivalent calculation 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 copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.7182) + (Silver (g/t) x 0.0090).
3 See NI 43-101 technical report titled “NI 43-101 Technical Report for the Kwanika Project Resource Estimate Update 2019,” dated April 17, 2019, filed under the Company’s SEDAR profile at www.sedar.com .
4 See News Releases dated September 9, 2021, September 28, 2021 and October 27,2021 available at www.northwestcopper.ca and the Company’s profile at www.sedar.com
5 See News Release dated April 19, 2021 available at www.northwestcopper.ca and the Company’s profile at www.sedar.com
PDFS available here: http://ml.globenewswire.com/Resource/Download/7434318d-9077-46cb-9a6a-d6fa6af41a82