NorthWest Copper Announces Successful Step-Out Results From 2021 Kwanika Drilling. Mineralization Encountered Outside the Resource Areas With 137 Metres of 0.52% CuEq Including 34 Metres of 1.30% CuEq
March 10, 2022
VANCOUVER, British Columbia, March 10, 2022 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce that drilling at Kwanika has encountered strong copper-gold grades in holes designed to expand the footprint of mineralization at the Kwanika Central and Kwanika South Zones. These are the first results from 2021 Kwanika drilling that are outside of the Central Zone footprint. Highlights include:
- K-21-223: 137.00 metres 1 of 0.52% Copper Equivalent (“CuEq”) 2 including 34.00 metres of 1.30% CuEq;
- K-21-221: 99.70 metres of 0.28% CuEq.
The 2021 Kwanika program focussed on enhancing high-grade copper-gold mineralization within the known resource footprint of the Central Zone. This program was very successful including identification of a new style of very high-grade in hole K-21-217 3 . NorthWest also conducted a limited step-out program, designed to test areas of sparse drilling around both the Central Zone and the South Zone. To date the Central Zone contains the bulk of the tonnes and grade at Kwanika. K-21-221 was drilled north of the Central Zone and K-21-223 and K-21-224 were drilled at the South Zone.
K-21-223 is a high-grade intercept in the South Zone. South Zone mineralization is distinctive from that of the Central Zone and includes significant levels of molybdenum as well as copper, gold and silver. It is separated from the Central Zone by a fault system and is a little over one kilometer to the southeast (Figure 1). The South Zone was drilled with mostly shallow and wide-spaced holes by our predecessor company Serengeti Resources. Both new holes are encouraging with K-21-223 being the highest grade and filling a sparsely drilled gap. More work is planned.
K-21-221 was drilled several hundred metres north of the limit of the Central Zone resource shape 4 (Figure 2). The target was developed with a combination of geochemical vectoring and a coincident induced polarization (IP) geophysical anomaly. The hole was drilled in a different orientation than the surrounding holes to test a potentially mineralized intrusive body. The long interval of anomalous gold and copper that was intersected opens up a large volume of undrilled material to further exploration. This will be followed up in 2022.
“These results provide additional targets and, importantly, expansion potential at Kwanika,” commented President and CEO Peter Bell. “The southern holes highlight the opportunity around the South Zone, which is much less drilled than Kwanika Central Zone. The drilling by the team continues to deliver high grades on multiple targets, consistent with our high-grade corporate focus. The northern hole shows the undrilled potential north of the Kwanika Central Zone, identified through interpretation by our geologists. We look forward to following up these results in the 2022 program.”
Table 1: Drill Results From This News Release
|Hole||From (m)||To (m)||Interval (m)¹||Cu (%)||Au (g/t)||Ag (g/t)||Mo (%)||CuEq² (%)|
|K-21-225||No Significant Values|
|K-21-226||No Significant Values|
The drill holes reported here encountered materials geologically like those intersected by previous drilling campaigns. At Kwanika Central, copper-gold porphyry-style mineralization is hosted by intermediate to felsic intrusions and by greatly subordinate mafic volcanic rocks. Highest grade intervals commonly correlate with the abundance of very well mineralized quartz-sulphide veins that contain chalcopyrite variably accompanied by bornite. Disseminated mineralization occurs in strong potassic alteration between and related to these veins, but also in areas of pervasive potassic alteration. Mineralization is dominated by hypogene sulphide, with a mostly narrow zone of paleo-supergene mineralization that is commonly present at the top of the mineralized interval. Late-to post-mineral dykes locally cut the copper-gold mineralization.
The South Zone is hosted by a quartz monzonite intrusion that has not been encountered at Kwanika Central. Mineralization is hypogene and occurs in zones of potassic alteration related to quartz-sulphide veins, and more locally in altered breccias. The South Zone to date is distinguished by higher molybdenum grades than Kwanika Central.
Table 2: Previously Released 2021 Kwanika Drill Results
|Hole||From (m)||To (m)||Interval (m)¹||Cu (%)||Au (g/t)||Ag (g/t)||CuEq² (%)|
|K-21-215||Hole abandoned before target|
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. We are committed to working collaborative with Indigenous and local communities to create economic opportunities while conducting our work in a culturally and environmentally responsible manner. 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 Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements, trend analysis and other information contained in this news release about anticipated future events or results constitute forward-looking information including but not limited to statements with respect to: the Company’s goals for 2022; 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 information is 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, constitutes forward-looking information. Although NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will prove to be correct. Forward-looking information involves 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 information, including the risks, uncertainties and other factors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward-looking information 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 information. 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 information is based on estimates and opinions of management at the date the information are made. NorthWest does not undertake any obligation to update forward-looking information except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information.
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). For intersections in the South Zone where Molybdenum is present, assumptions used in USD for the copper equivalent calculation also include $9.00/lb. Molybdenum, 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) + (Molybdenum (%) x 2.77).
3 See News Release dated October 27,2021 available at www.northwestcopper.ca and the Company’s profile at www.sedar.com
4 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 .
Photos accompanying this announcement are available at: