VANCOUVER, British Columbia, July 15, 2021 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or the “Company”) (TSXV:NWST) is pleased to report that the Company has added 16 claims to its East Niv project, expanding its size to 43,297 Hectares. Located in Central British Columbia, East Niv is one the Company’s three key exploration projects. A highly prospective exploration project, East Niv presents an opportunity to discover a brand-new copper-gold porphyry deposit within a Tier 1 jurisdiction.
Outcropping copper-gold mineralization and coincident induced polarization, magnetic and soil geochemical anomalies outline a compelling 3.5 square kilometer, multi-parameter porphyry copper-gold target at East Niv which has the clear opportunity for a new discovery. East Niv is located in an under-explored area that has seen very limited prior surface work and will be drilled for the first time this summer.
The newly increased land position extends the project footprint in multiple directions to encompass key fault structures, prospective targets and anomalies based on magnetics, radiometrics and regional silt geochemistry. These additional claims also ensure a contiguous claim block extending to the nearby Omineca access road and power corridor.
East Niv is located just 40 km south of the Kemess Mine, within the eastern Stikine Terrane, which hosts numerous porphyry deposits including Kemess (Centerra Gold), Red Chris (Newcrest Mining/Imperial Metals), Kerr-Sulphurets-Mitchell (“KSM”; Seabridge Gold) and Galore Creek (Newmont/Teck Resources).
Kwanika Update
Diamond drilling began at the Kwanika project on June 12th with two diamond drill rigs. Nine drill holes have been completed for a total of 2900 metres. Drilling has focused on upgrading the Kwanika resource through targeting of higher-grade zones. In addition to the diamond drilling, a regional exploration program is underway to develop new targets within the Kwanika claim block. Work consists of detailed geological sampling and mapping, regional silt and porphyry copper indicator mineral sampling, and is being aided by a new low-level property wide detailed airborne magnetic survey which was completed in late June. Targets from this regional program are expected to be tested later in the 2021 field season.
Peter Bell, President & CEO of NorthWest states: “We are eagerly anticipating our first drill tests of the East Niv target. The target itself is compelling and we see this as part of a much larger, prospective region. Our staking reflects our interest in the broader belt and the potential for multiple targets, as well as our confidence in the East Niv drilling itself. NorthWest is taking a regional approach to high-grade copper-gold development across this famed jurisdiction.”
“Our high-grade focussed drill program at Kwanika has proceeded according to plan so far.” continued Mr. Bell. “We look forward to updating the market as assay results become available.”
East Niv – Geological Highlights
East Niv was acquired by staking in 2018 following a regional database compilation and analysis of Geoscience BC’s Search III airborne geophysical dataset. Field work, analysis and compilation of geology, IP chargeability, aeromagnetics and soil/rock geochemistry have together resulted in the identification of a number of compelling porphyry Cu-Au targets. To date, exploration work has focused on the delineation of three mineralized showings: The Main (West and East), KC and South Nub. Composite grab samples from outcrop and subcrop from each of the showings has produced compelling results1:
Main West: 19 samples averaged 0.35% Copper, and 0.30 g/t Gold.
Main East: 10 samples averaged 0.30% Copper, and 0.14 g/t Gold.
KC: 13 samples averaged 0.23% Copper, and 0.67 g/t Gold
South Nub: 5 samples averaged 1.01% Copper, and 9.38 g/t Gold.
West Flank: 1 float sample yielded 1.8% Copper, 154.5 g/t Gold and 581 g/t Silver.
*Grab sample grades are by nature selective and may not necessarily be an indication of the overall grade of a mineralized area.
East Niv 2021 Exploration and Drilling
Crews are preparing to begin field work ahead of a planned 2,750 metre phase I drill program at East Niv. Field work will consist of the following:
- 30-40 km IP geophysical survey
- Aeromag airborne magnetic survey (13,000 Ha)
- Regional geochemical sampling program
- Porphyry Indicator Mineral sampling
- Regional Prospecting
Drilling is planned to commence in mid-summer, with a goal of 11 initial drill holes.
Qualified Persons and 43-101 Disclosure
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 NI 43-101.
About NorthWest Copper
NorthWest Copper is a new diversified 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. 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.
“Peter Bell”
President and Chief Executive Officer
For further information, please contact:
Adrian O’Brien, Director Marketing & Communications
Tel: 604-809-6890
Email: aobrien@northwestcopper.ca
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
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. 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 Copper 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 Copper 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 Copper’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 Copper’s expectations include risks associated with the business of NorthWest Copper; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Projects; 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 native 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 Copper’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 Copper 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 7, 2020 available at www.northwestcopper.ca and on the Company’s profile at www.sedar.com.
