Exploration plans 2023, PR not picked up by Stockhouse or Stockwatch. 2023 EXPLORATION PROGRAMS
Northisle has now received multi-year area-based permits covering the Northwest Red Dog, Downward Dog, Goodspeed, and Hushamu areas on the North Island Project. The Northwest permit is valid for a total of five years through May 2028, while the Hushamu permit is currently valid through November 2024. The Pemberton Hills permit has completed the referral and consultation period and is anticipated in the coming weeks.
Northisle plans to complete up to 8,000 meters of drilling during 2023 and will begin exploration with an approximately 4,000 meter program at Northwest Expo (see Figure 1), which is intended to support the definition of an initial resource in the gold-enriched Zone 1. Based on drilling to date, as well as mapping and geophysical surveys, the Company has a target of 40-50 million tonnes of mineralized material for the initial resource in the gold-enriched Zone 1. With drilling anticipated to commence during the last week of May, assays are expected to be available during Q3 2023, with a target for completion of the initial resource estimate by late 2023.