NorthWest Copper (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce that it has drilled a new Cu-Au porphyry discovery at its 100% owned East Niv property. This is the first drill campaign to ever be conducted on the property, and results to date are highly encouraging. Highlights from the first four holes include the following:
Ten holes have been drilled on the property this year testing various geological, geochemical, and geophysical targets. Assay 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 especially so in mature, well explored mineral belts,” says Peter Bell, President & CEO. “This new copper-gold system in the heart of B.C. porphyry country is incredibly exciting and significant. East Niv has been worked up from prospecting, mapping, geophysics, and geochemistry to drilling and discovery. Importantly this mineralization starts at surface. All four holes are mineralized and have intersected different parts of the system. We have a very large property position and are located close to infrastructure and only 40km from the Kemess project.”
“Dave Moore and his team at Serengeti acquired and worked this target up from first principles and deserve clear recognition,” says Mark O’Dea, Chair. “The exploration team at NorthWest drill tested it for the first time and have successfully put a new porphyry system on the map. With a new discovery on our hands, our project pipeline in BC is emerging as second to none.”
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).
Mineralization within the drill holes occurs in intermediate to felsic intrusions that are hosted by highly reactive, mafic volcanic rocks of the Upper Triassic Takla Group. These rocks and the alteration which affects them are typical of the styles found in major porphyry Cu-Au deposits located in the Stikine and Quesnel Terranes of BC. Mineralization comprises chalcopyrite and bornite associated with hydrothermal magnetite, biotite, and quartz. The mineralization commonly 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 a four square kilometer area. To date only a small portion of the over 43,000 hectare property has seen any detailed exploration.
A table indicating a full breakdown of drill results to date is shown below:
Quality Assurance / Quality Control
Drilling completed at East Niv 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, with gold overlimits completed with a gravimetric finish.
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.
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We acknowledge the [financial] support of the Government of Canada.