Northisle Copper and Gold Inc. (Northisle) announced via press release it has received the first assay results from its 2021 drill program at Northwest Expo confirming a zone of high-grade, gold-rich porphyry mineralization approximately three kilometres northwest of its Red Dog Deposit.
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In addition, the release states that preliminary surface geophysical surveys at Macintosh have identified numerous chargeability and resistivity anomalies. Northisle commenced drill testing these anomalies on January 19, 2022 and anticipates completion during Q1 2022. Northisle says it also recently completed four holes at Hushamu, and will continue in-fill and step-out drilling following completion of drilling at Macintosh.
Sam Lee, President & CEO of Northisle, stated in the release that the company is “pleased with the results at Northwest Expo to date which demonstrates the potential to add higher grade resources to the North Island Project. This gold-rich zone is not within the current resource at the North Island Project and is only 14 kilometres from the proposed plant site. Grades in the new zone are approximately three to five times higher than the grades at Hushamu and Red Dog which could have a positive impact on project economics and support our belief that we are just scratching the surface of the potential of our 50 km camp scale porphyry belt.”
Robin Tolbert, Vice President Exploration of Northisle, noted that with the receipt of assay results from NW21-03, “we have now defined an area of approximately 480 meters by 360 meters of porphyry copper-gold mineralization, with an interpreted average width of 86 meters, and this volume is open in multiple directions. This is just the beginning of exploration on Northwest Expo. A ground-based geophysical program is scheduled to commence shortly and will allow targeting of an expanded drill program, to commence upon receipt of permits. The positive assay results have confirmed the regional interpretation of the importance of the chlorite-magnetite mineralization in this area, which will help to inform our approach to exploring the rest of our large and prospective land package.”
Tolbert added he is very excited to “get back in the field during Q1 to test the drill targets identified by recent geophysical surveys at Macintosh and continue to see immense opportunities across our more than 33,000 hectares of exploration tenure.”
Northisle has previously stated in a presentation to the Regional District of Mount Waddington that it is currently deciding whether or not to proceed with creating a mine by 2026.
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