Northisle Announces Hushamu Final Drill Results for 2014 Program
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct 21, 2014) - Northisle Copper and Gold Inc. ("Northisle" or the "Company") (TSX VENTURE:NCX) is pleased to announce the completion of drilling at the Hushamu Deposit. The results for all holes completed in the 2014 drilling program are summarized below.
2014 Drill Program
A drill program consisting of five holes totalling approximately 1,800 metres has been completed at the Company's North Island Copper-Gold Project. The program included the drilling of an untested Induced Polarization ("IP") anomaly extending for 1.5km from the deposit to the northwest.
TABLE OF RESULTS
| Hole No. | Location | From | To | Length | Cu % | Au gpt | Mo % | Re gpt | ||||||||
| H14-05 | Hushamu | 24.4m | 160m (EOH) | 135.6m | 0.39 | 0.415 | 0.009 | na | ||||||||
| H14-04 | NW Extension | No significant results, hole drilled on south side of IP anomaly | ||||||||||||||
| H14-03 | NW Extension | 107.3 | 204 | 96.7 | 0.13 | 0.02 | 0.002 | 0.134 | ||||||||
| H14-02 | NW Extension | No significant results, hole intersected mainly late mineralization intrusive rocks | ||||||||||||||
| H14-01 | NW Extension | 43 | 103 | 63.0 | 0.12 | 0.01 | 0.002 | 0.12 | ||||||||
| -All holes were angle holes drilled to the south west. The inclination of holes H14-01 through H14-04 was -50 degrees. Hole H14-05 was drilled at -60 degrees. |
| -Reported lengths are core length and true thickness is not known. |
Drill hole H14-05 tested a gap in the grid of drill holes defining the Hushamu deposit. It was expected to cut mineralization close to the average grade of the deposit based on the surrounding drill holes. The results in H14-05 are higher than expected and extend over the entire length of the hole.
Drill Holes H14-01 to H14-03 tested a 900 m length of the northern flank of an Induced Polarization Survey (IP Survey) extending for 1500 metres northwest of the previously supposed edge of the deposit. Drill hole H14-01 and H14 -03 show that significant mineralization extends for at least 700 metres to the northwest beyond the currently defined limits of the Hushamu deposit. Both holes, which are 300 m apart, encountered numerous fault zones including ones that terminate the copper mineralization at depth. Drill hole H14-02 drilled approximately 200 metres northwest of H14-01 and 900 metres northwest of the current limit of the Hushamu Deposit intersected late mineralization intrusive rocks. The IP chargeability anomaly extends for a further 600 metres beyond H14 -02 and remains untested.
Drill hole H14-04 tested the south flank of the IP chargeability anomaly and intersected pyritic rocks.
John McClintock, President and CEO, stated: "We are pleased and encouraged with the results of this year's drilling. The results of H14-05 are a pleasant surprise and an encouragement to undertaking additional infill drilling. The positive results of the initial testing of the NW IP anomaly shows the presence of copper, molybdenum and rhenium mineralization associated with a similar alteration type to that on the northern side of the Hushamu Deposit well away from the currently know deposit and it adds credence that the northern portion of the deposit may have been displaced by faulting to the northwest. It will require additional drill holes to determine the extent of the mineralization cut by this year's drill holes".
Analysis of core samples was carried out at ALS Group's North Vancouver facility. Gold analysis was by fire assay methods with atomic absorption finish. Analysis for copper, molybdenum and rhenium was by aqua regia digestion with ICP finish. QA / QC included insertion of standards and blanks in to the sample stream and duplicate samples on quartered core.
The North Island Copper-Gold Project
The North Island Copper-Gold Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and five other partially explored copper-gold porphyry occurrences. The Company has a current resource estimate of the Hushamu Deposit which has been filed on Sedar (see also May 21, 20014 news release). The project is 100% owned by Northisle. For more information on Northisle and the Hushamu Deposit please visit the Company's website at www.Northisle.ca.
John McClintock, P. Eng is the Qualified Person responsible for the technical content of this release.
On behalf of Northisle Copper and Gold Inc.
John McClintock, President, CEO and Director
Neither the 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 news release.
This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.