VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 8, 2014) - Northisle Copper and Gold Inc. (TSX VENTURE:NCX) ("Northisle" or the "Company") is pleased to announce the results of the first two of four holes completed on the Induced Polarization (IP) Survey extending for 1500 metres northwest of the Hushamu deposit. The first hole, located 700 metre northwest of the current boundary of the Hushamu Deposit intersected 0.12% copper, 0.002% molybdenum and 0.12 gpt rhenium over a core length of 63 metres from a depth of 43 to 103 metres. No significant gold is present in the interval. The hole was an angle hole drilled at -50 degrees to the southwest and was planned to cross cut the trend of the IP chargeability anomaly. The hole encountered numerous fault zones including one that terminates the copper mineralization at depth. A second hole drilled approximately 200 metres northwest of the initial hole intersected late mineralization intrusive rocks and had no significant values. Results from drill holes three and four should be available shortly.
John McClintock, President and CEO, stated: "We are pleased and encouraged with the results of the initial drill hole. It shows that there is copper, molybdenum and rhenium mineralization associated with a similar alteration type to that on the northern side of the Hushamu Deposit present well away from the currently know mineralization and it adds credence that the northern portion of the deposit may have been displaced by faulting to the northwest. It will require additional drill holes to determine the extent of the mineralization cut by the initial drill hole of the 2014 program".
Analysis of core samples was carried out at ALS Group's North Vancouver facility. Gold analysis was by fire assay methods with atomic absorption finish. Analysis for copper, molybdenum and rhenium was by aqua regia digestion with ICP finish. QA / QC included insertion of standards and blanks in to the sample stream and duplicate samples on quartered core.
2014 Drill Program
A drill program consisting of five holes totalling approximately 1,800 metres was recently completed at the Company's North Island Copper-Gold Project. The program included the drilling of an untested Induced Polarization ("IP") anomaly extending for 1.5km from the deposit to the northwest. Grade contours and faulting in the core suggests the northern half of the deposit displaced to the NW in the area of the IP anomaly.
The North Island Copper-Gold Project
The North Island Copper-Gold Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and five other partially explored copper-gold porphyry occurrences. The Company has a current resource estimate of the Hushamu Deposit which has been filed on Sedar (see also May 21, 20014 news release). The project is 100% owned by Northisle. For more information on Northisle and the Hushamu Deposit please visit the Company's website at www.Northisle.ca.
John McClintock, P. Eng is the Qualified Person responsible for the technical content of this release.
On behalf of Northisle Copper and Gold Inc.
John McClintock, President, CEO and Director
info@northisle.ca
Neither the 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 news release.
This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.