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NorthIsle Copper and Gold Announces Update on the North Island Project and Early Option Exercise by CEO
Highlights: Integrated North Island Project resource estimate, including Hushamu, Red Dog and Northwest Expo Deposits targeted for early Q3 2024, with an NI 43-
About this update from Northisle Copper And Gold Inc.
[{"type":"text","content":"Highlights: Integrated North Island Project resource estimate, including Hushamu, Red Dog and Northwest Expo Deposits targeted for early Q3 2024, with an NI 43-101 report targeted for mid Q3 2024. Northisle has initiated a new Preliminary Economic Assessment on the North Island Project which will incorporate the 2024 Resource Estimate as well as the recently completed internal scoping work. Basis for the 2024 PEA is anticipated to be a two-phase development of the Northwest Expo, Red Dog and Hushamu deposits with a centralized processing facility. Drilling at West Goodspeed has progressed rapidly, supporting the completion of 5 drill holes totalling more than 2,120m to date Northisle President & CEO, Sam Lee, has exercised 4,000,000 options more than 15 months ahead of their expiry which provides the Company $480,000 in additional capital for development of the North Island Project VANCOUVER, British Columbia / Jun 25, 2024 / Business Wire / Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to provide an update on the Company’s ongoing technical, exploration and corporate activities. The Company has recently completed the previously announced preliminary project trade-off work and has retained Ausenco Engineering Canada ULC to prepare a new Preliminary Economic Assessment on the North Island Project (the “2024 PEA”). The 2024 PEA is anticipated to evaluate an integrated project incorporating the Hushamu, Red Dog and Northwest Expo deposits, with the staged development of a processing facility located near the Hushamu deposit. In support of the 2024 PEA, Northisle has initiated an integrated updated resource estimate for the North Island Project which includes the Hushamu, Red Dog and Northwest Expo deposits, which will incorporate all drilling completed through the end of 2023. The completion of this integrated estimate is targeted for early Q3 2024, with a Technical Report targeted for completion by mid-Q3 2024. Following completion of the updated integrated mineral resource estimate, the Company is targeting completion of the 2024 PEA by Q4 2024. Drilling at West Goodspeed has progressed rapidly with good drilling conditions supporting the completion of 5 drill holes totalling more than 2,120m to date. Assays remain pending on these drill holes. Drilling at West Goodspeed is targeted to ...