VANCOUVER, British Columbia, Dec. 07, 2022 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) announces multiple high-grade copper samples over a large area as part of a program that included 206 surface rock samples collected during the 2022 East Niv exploration program. The results show a very large footprint of high-grade copper at surface. This release focuses on new and historical results from rock samples. Other results, including 2022 drilling, will be provided in future releases as assays are received. Highlights from 2022 rock sampling include:
206 Surface Rock samples sent for analysis
48 returned values greater than 0.10% copper (Cu),
36 returned values greater than 0.25% Cu, and
11 returned values of greater than 1.00 % Cu.
11 high-grade samples range from 1.08 % Cu to 6.55 % Cu (Table 1)
Also contain very strongly elevated silver (Ag) concentrations between 3.7 g/t Ag and 262.0 g/t Ag.
NorthWest’s exploration program in 2022 was designed to follow up on the very successful discovery of copper-gold porphyry mineralization at East Niv in 2021, including hole ENV21-0041 (81.60 metres of 0.41% Cu, 0.20 g/t Au and 0.90 g/t Ag). The 2022 program targeted expansion of the footprint of mineralization around the previously drilled area and covered a much larger area with surface work to further expand the prospective area. Exploration completed in 2022 included 8 diamond drill holes (results pending), 31.1 line-km of ground-based induced polarization geophysics, 1,260 line-km of airborne magnetics, 206 surface rock samples, 745 soil samples, and geological and structural mapping. The rock chip results from this work outline a very large area of copper at surface with no historical drilling and limited exploration work, which will help inform targets for future drilling.
“East Niv is our newest project, with the first drilling completed in 2021 including our discovery hole” said President and CEO Peter Bell. “We are now outlining a very large, mineralized zone over the southern half of the property with these rock chip samples, including some spectacular high-grade over a northwest-oriented trend that is at least 13 km long. There is a lot of prospective ground on our 43,000 hectare land package and we have been mapping, sampling, conducting geophysics and drilling. We completed 8 holes in 2022, in addition to the 10 holes in 2021, and anticipate updating the market in the near term with the drill results.”
1 Please see NorthWest Copper news release dated November 8, 2021 available on our website and SEDAR.
Table 1: Select East Niv Sample Results
The historical and new rock sample results on Figures 1, 2 and 3, along with the porphyry copper-gold mineralization discovered by drilling in 2021, show that strong hydrothermal activity, polymetallic metal anomalies, and high-grade rock samples are distributed over a very large and highly prospective area. The 2022 samples were collected on geological and structural mapping traverses that extend well beyond historical work areas (Figure 4) and this mapping will provide critical geological context to focus exploration and to identify and prioritize drill targets. Importantly, rock sampling has mostly been along ridges to allow more ground to be covered and an important focus of future exploration will be the extensive areas of outcrop that have not yet been mapped, prospected, or sampled. Indeed, much of this newly prospective area in the south half of the property has received no physical exploration other than the sampling reported here.
An exciting outcome of the 2022 and historical sampling programs is that a variety of mineralized vein types are widespread and commonly contain high-grade copper and silver mineralization, along with other anomalous metals including gold. Several veins rich in bornite have returned high-grade copper-silver results (Figure 5-A). Other vein types also return excellent grades but more commonly contain chalcopyrite, and some veins have a component of supergene copper sulphides and/or carbonates (Figure 5-B). Veins of all types most commonly dip steeply and strike northwest, parallel to the regional structural grain of the property. Veins range from narrow, individual structures, to sheeted arrays up to several metres in width, and some veins are brecciated. Veins have not been traced along strike due to the objectives of the traverses where they were discovered. Our 2021 porphyry copper-gold discovery can be directly related to the Late Triassic Takla Group by uranium-lead and rhenium-osmium isotopic dates of approximately 224 million years on intrusions and mineralization. The newly recognized copper-silver veins, in contrast, are hosted by younger rock types interpreted to be either Early Jurassic Hazelton Group or slightly older rocks transitional to the underlying Takla Group, and additional isotopic dating is underway to confirm this. The geochemical results and our current interpretation indicate that the southern half of the property hosts a widespread and distinct style of commonly high grade, copper-silver-gold mineralization that forms a completely new exploration target at East Niv.
Figure 1. Copper (Cu) % in surface rock samples on the East Niv Project
Figure 2. Silver (Ag) in surface rock samples on the East Niv Project
Figure 3. Gold (Au) ppb in rock chip samples on the East Niv Project.
Figure 4. Geological Map showing area of detailed work in 2022 (lighter shaded area) vs 2021 area of focus (darker shaded area)
Figure 5. Samples 4656078 and 4656157
Quality Assurance / Quality Control
Surface work at East Niv completed in 2022 was supervised by on-site NorthWest personnel who collected and tracked samples and implemented a full QA/QC program using blanks and standards to monitor analytical accuracy and precision. The samples were sealed on site and shipped to AGAT Laboratories (AGAT) in Calgary, Alberta. AGAT’s quality control system complies with global certifications for Quality ISO 9001:2015. The samples were analyzed using a combination of AGAT’s 201-071 process for low-level concentrations (ICP-MS/4 Acid digestion) and the 201-079 process for overlimit/higher-level concentrations in base metals (Sodium Peroxide Fusion/ICP-OES). Silver overlimits were analyzed with method 201-116, a 3-acid digestion with ICP-OES finish. Gold assaying was completed with either 202-052 or 202-055 methods, both of which are a 30-gram fire assay with ICP finish.
Technical aspects of this news release have been reviewed, verified, and approved by Tyler Caswell, P.Geo., Principal Geologist 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 responsible mineral exploration which involves working collaboratively with First Nations to ensure future development incorporates stewardship best practices and traditional land use. 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:
Peter Lekich, Director Investor Relations
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 and 2023; 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.