NorthWest Copper Intersects 280 Metres of 1.08% CuEq Including 13.85 Metres of 4.16% CuEq, and 227.6 Metres of 0.83% CuEq Including 4.00 Metres of 5.05% CuEq at Kwanika
February 28, 2022
VANCOUVER, British Columbia, Feb. 28, 2022 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce that drilling at Kwanika has intersected additional high-grade copper-gold mineralization. Drill holes K-21-220 and K-21-222 returned intervals of very high grades within much longer intervals of significant Cu-Au grades in the vicinity of hole K-21-217 (9.4m of 33.60% copper equivalent “CuEq”) 1 . Highlights include:
- K-21-220: 280 metres 2 of 1.08% CuEq 3 including 13.85 metres at 4.16% CuEq;
- K-21-222: 227.60 metres of 0.82% CuEq including 4.0 metres at 5.05% CuEq.
The drilling shows the consistency of the high-grade core of Kwanika, with long intervals of material at or near 1% copper equivalent. Within these long intervals are zones of much higher grade. K-21-217 showed this most dramatically, with 9.4 m of 33.60% CuEq within a broader interval of very strong copper and gold. K-21-220 and K-21-222 demonstrate the same pattern. In the intervals reported, copper-gold porphyry-style mineralization is hosted by intrusions logged as monzonite and minor diorite that occur directly below post-mineral sedimentary rocks. High-grade copper-gold mineralization occurs in strong potassic alteration associated with abundant quartz-sulphide veins and is predominantly hypogene with subordinate supergene mineralization at the top of the intersections. These results help validate our focus on high-grade as well as supporting our planned 2022 program in the enhanced grade area around K-21-217.
“These results deliver the consistent high-grade that characterizes the core of Kwanika.” commented President and CEO Peter Bell. “High-grade copper-gold has been our focus since we formed NorthWest Copper. We look forward to testing for additional high-grade, including offsets of K-21-217, in 2022.”
Table 1: Significant Drill Results From This News Release
|Cu (PCT)||Au (g/t)||Ag
|K-21-220||Central Pit High Grade||257.10||537.10||280.00||0.59||0.66||2.0||1.08|
|K-21-222||Central Pit High Grade||200.40||428.00||227.60||0.39||0.60||1.3||0.83|
NorthWest Copper conducted drilling in 2021 at Kwanika, Stardust and East Niv. At Kwanika we drilled both grade enhancement and step out holes. The two holes in this release are the final ones from the 2021 grade enhancement drilling. The Kwanika step-out and Stardust drill assays are pending. The Kwanika grade enhancement program consisted of angle holes to test the high-grade core of Kwanika and improve resolution of both copper and gold grades in advance of our preliminary economic assessment (PEA) planned for 2022. The program met its goals and successfully identified the high-grade hole K-21-217, reported in late 2021.
NorthWest Copper plans to release a summary of our 2022 programs in the coming weeks. We look forward to updating the market on the extensive exploration program planned across our portfolio of projects in north-central British Columbia.
The drill holes reported herein encountered materials geologically similar to those intersected by previous drilling campaigns. At Kwanika as a whole, copper-gold porphyry-style mineralization is hosted by intermediate to felsic intrusions and by subordinate mafic volcanic rocks. The 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 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.
Table 2: 2021 Kwanika Drill Results
|Hole||From (m)||To (m)||Interval (m)²||Cu (%)||Au (g/t)||Ag (g/t)||CuEq³ (%)|
|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. We are committed to working with the Indigenous and local communities to conduct our work in an environmentally and culturally respectful manner. 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 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 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 See News Release dated October 27,2021 available at www.northwestcopper.ca and the Company’s profile at www.sedar.com
2 True widths of the reported mineralized intervals have not been determined
3 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).
Photos accompanying this announcement are available at