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NorthWest Copper Reports Strong Copper, Gold and Silver Drill Results From the Lorraine Project, Expanding Mineralization
VANCOUVER, British Columbia, March 23, 2023 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to annou
About this update from Northwest Copper Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, March 23, 2023 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce positive results from the 2022 Lorraine drilling program, the first drilling conducted by NorthWest on the property. Drilling has encountered multiple intersections of copper, gold and silver outside of the resource shell. Highlights from assays include: LOR-22-130: 45.85 metres1 at 0.61% CuEq2 from 109.00 metres; Including 23.00 metres at 0.98% CuEq from 109.00. LOR-22-131: 46.90 metres at 0.74% CuEq from 15.00 metres; Including 17.00 metres at 1.41% CuEq from 30.00 metres. LOR-22-136: 102.80 metres at 0.31% CuEq from 91.00 metres. Lorraine is located approximately 40 km north of NorthWest’s flagship Kwanika-Stardust project. The proximity to Kwanika-Stardust, the high-grade near-surface resource and the significant exploration potential make it NorthWest’s exploration priority for 2023. Drilling results indicate that mineralization extends beyond the limits of the Mineral Resource Estimate3 and that the Lorraine system is big, complex and open in multiple directions. The 2022 exploration results demonstrate the potential for resource growth at Lorraine, and continued work at the project will be the primary focus of NorthWest’s 2023 exploration program. “Our goal for the 2022 drilling at Lorraine was to test concepts that could extend the resource beyond what was outlined in the Mineral Resource Estimate, and we successfully hit mineralization peripheral to and below what was previously known”, said President and CEO Peter Bell. “We are just getting started at Lorraine which we believe has very strong growth potential, not only around the resource but across the 65,817-hectare property. Drilling to date has been quite shallow and we are starting to identify deeper roots to the system.” 1 True widths of the reported mineralized intervals have not been determined.2 Assumptions used in USD for the copper equivalent calculation (CuEq) were metal prices of $3.50/lb. copper, $1,650/oz gold, $21.50/oz silver, and recovery is assumed to be 86.0% for copper, 63.5% for gold and 61.6% for silver. The following equation was used to calculate copper equivalence: CuEq = copper (%) + (gold (g/t) x 0.5076) + (silver (g/t) x 0.006417)3 See NI 43-101 technical report titl...