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Northisle Copper and Gold Announces Plan to Define Initial Resource at Northwest Expo
VANCOUVER, British Columbia / Mar 31, 2022 / Business Wire / Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to announce t
About this update from Northisle Copper And Gold Inc.
[{"type":"text","content":"VANCOUVER, British Columbia / Mar 31, 2022 / Business Wire / Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to announce that it has finalized its 2022 work plans for the highly prospective new gold-rich zone at Northwest Expo. The 2022 plan is to define a resource around the gold-rich mineralized porphyry zone measuring 480 by 360 metres with an average true width of 86 metres and a true width-weighted average grade of 0.98 g/t Au or 1.23g/t Au Eq. Initial metallurgical testing will commence immediately and will be incorporated in updated trade off studies that will consider the impact of Northwest Expo on the currently defined North Island Project, where a PEA completed during 2021 indicated a preliminary after-tax NPV (8%) of C$1.1 billion based on a US$3.25/lb copper price and a US$1,650/oz gold price. Sam Lee, President & CEO of Northisle stated “The gold-rich zone at Northwest Expo is very exciting as it opens up the possibilities for improving the economics on an already large and robust project. The fact that it is only 3.5 km away from the Red Dog deposit and that the gold-rich mineralization is open at depth and along strike makes Northwest Expo our top exploration priority for 2022. The goal for this year is to be able to include the gold-rich zone at Northwest Expo in the project’s mineral inventory at an exploration cost below $5 per ounce gold equivalent. In parallel, we will advance metallurgical and trade-off studies to assess the potential advantages that this higher grade gold zone may bring to our project.” Northwest Expo Catalysts Key activities at Northwest Expo for 2022 are detailed in Table 1: Table 1: Key Catalysts at Northwest Expo Timing Category Details Q2 2022 Surface Exploration Wireless IP north of Zones 1 - 3 Q3 2022 Preliminary Met. Results Results from preliminary gold deportment studies and met testing at Northwest Expo Q3 2022 Preliminary Site Investigation Preliminary environmental investigations and identification of key factors for Northwest Expo target area H2 2022 Drilling of Zone 1 Methodical drilling of Zone 1 in order to generate initial resource estimate Q4 2022 Resource Estimate ...