NorthWest Intersects Multiple Intervals of High-Grade Gold Up to 10.5 g/t at East Niv While Expanding the Footprint of Copper and Gold Mineralization in Additional Drillholes
VANCOUVER, Jan. 27, 2022 - NorthWest Copper ("NorthWest" or the "Company") (TSX-V:NWST, OTCQX:NWXCC) is pleased to announce that drill-hole ENV-21-007 has intersected high grade gold, including 10.5 grams per tonne ("g/t") over 2.0 metres, within a broader interval of 41 metres grading 1.24 g/t Au. Additional drill holes have intercepted significant copper-gold-silver mineralization. We have successfully expanded the footprint of mineralization with strongly mineralized intervals, over a 1 by 1.5 km area of previously undrilled prospective geology, open in multiple directions. These drill results represent continued success at our East Niv project, the Company's newest discovery. Highlights are shown below.ENV-21-007 - 41.00 metres? of 1.24 g/t gold, including 2.00 metres of 10.5 g/t;
ENV-21-005 - 100.90 metres of 0.34% copper equivalent ("CuEq")?, including 12.50 metres of 0.45% CuEq;
ENV-21-008 - 77.30 metres of 0.32% CuEq, including 21.20 metres of 0.43% CuEq;
ENV-21-010 - 133.85 metres of 0.22% CuEq, including 20.20 metres of 0.37% CuEq.
Peter Bell, President & CEO of NorthWest stated, "In our first season of drilling, we established East Niv as a significant new porphyry Cu-Au discovery with the release of ENV-21-004. Now, we have shown that the mineralized footprint is large and open in multiple directions. Furthermore, we have found an exciting high-grade gold zone providing a new and compelling exploration target. We look forward to following up these excellent results with a full round of drilling in 2022."
"East Niv is the newest asset in our project pipeline, which stretches from Kemess to Mt Milligan," continued Mr. Bell. "We have over 150,000 hectares of underexplored ground between these two long-life assets in an area of exceptional infrastructure."
NorthWest has now received all 2021 assays from the first ever drill program completed at East Niv. Discovery hole ENV-21-004? encountered 81.60 metres of 0.56% CuEq demonstrating a strong mineralized system with economically significant grades over broad widths. The remaining holes expand the mineralized footprint materially, making it both deeper and more laterally extensive. The footprint size is consistent with that of other porphyry deposits in BC including Red Chris. In addition, the drilling has discovered an exciting high-grade gold zone in hole ENV-21-007, enhancing the prospectivity of this project. Full results for the East Niv program are given in the table below.
| Drill Hole | From (m) | To (m) | Interval (m)? | Cu (%) | Au (g/t) | Ag (g/t) | CuEq? (%) | |||||||||
| ENV-21-001 | 7.65 | 79.95 | 72.30 | 0.10 | 0.21 | 0.3 | 0.25 | |||||||||
| incl. | 50.8 | 66.85 | 16.05 | 0.12 | 0.28 | 0.3 | 0.32 | |||||||||
| ENV-21-002 | 126.00 | 149.00 | 23.00 | 0.11 | 0.14 | 0.2 | 0.21 | |||||||||
| and | 160.00 | 198.00 | 38.00 | 0.08 | 0.11 | 0.2 | 0.16 | |||||||||
| and | 230.00 | 234.10 | 4.10 | 0.19 | 0.54 | 0.6 | 0.58 | |||||||||
| ENV-21-003 | 13.00 | 42.00 | 29.00 | 0.10 | 0.13 | 0.2 | 0.20 | |||||||||
| and | 119.20 | 127.00 | 7.80 | 0.14 | 0.34 | 0.8 | 0.39 | |||||||||
| and | 229.25 | 249.00 | 19.75 | 0.10 | 0.14 | 0.1 | 0.20 | |||||||||
| ENV-21-004 | 3.00 | 84.60 | 81.60 | 0.41 | 0.20 | 0.9 | 0.56 | |||||||||
| incl. | 14.10 | 57.00 | 42.90 | 0.57 | 0.28 | 1.4 | 0.78 | |||||||||
| or | 15.20 | 30.00 | 14.80 | 0.75 | 0.35 | 2.5 | 1.02 | |||||||||
| ENV-21-005 | 0.10 | 101.00 | 100.90 | 0.23 | 0.14 | 0.8 | 0.34 | |||||||||
| Incl. | 12.00 | 24.50 | 12.50 | 0.29 | 0.21 | 0.5 | 0.45 | |||||||||
| ENV-21-006 | No Significant Values | |||||||||||||||
| ENV-21-007 | 199.00 | 240.00 | 41.00 | 0.03 | 1.24 | 1.5 | N/A | |||||||||
| 207.00 | 209.00 | 2.00 | 0.02 | 10.5 | 14.8 | N/A | ||||||||||
| ENV-21-008 | 54.50 | 131.80 | 77.30 | 0.18 | 0.17 | 1.5 | 0.32 | |||||||||
| Incl. | 63.80 | 85.00 | 21.20 | 0.29 | 0.18 | 1.9 | 0.43 | |||||||||
| ENV-21-009 | No Significant Values | |||||||||||||||
| ENV-21-010 | 40.00 | 68.50 | 28.50 | 0.13 | 0.31 | 0.7 | 0.36 | |||||||||
| and | 327.00 | 460.85 | 133.85 | 0.12 | 0.14 | 0.3 | 0.22 | |||||||||
| incl. | 376.80 | 397.00 | 20.20 | 0.17 | 0.28 | 0.4 | 0.37 | |||||||||
Porphyry copper-gold-silver mineralization at East Niv occurs in potassic-altered mafic volcanic rocks of the Late Triassic Takla Group and in associated intermediate intrusions hosted by the Stikine Terrane - a setting compatible with many major copper-gold porphyry deposits throughout Quesnellia and Stikinia. The 10 drill holes at East Niv host a variety of commonly strong, porphyry alteration types and each hole contains significant sulphide mineralization, all of which occurs within a much more extensive, largely open IP chargeability and surface geochemical anomaly that remains mostly undrilled.
In addition to the 2021 drill program, an integrated regional exploration program was conducted across the East Niv property to detect other areas of the property that are prospective for porphyry copper style mineralization. A detailed, low-altitude airborne magnetic survey at 100 m line spacing was completed over 4515 ha of the property, centered on the main area of known mineralization. Induced Polarization surveys were completed over 37.4 line kilometers in the area of the new discovery and in adjacent target areas. Regional mapping was complemented by 166 rock samples, 601 soil samples, 67 stream silt samples, and 27 porphyry indicator mineral samples. The regional exploration results will allow focused and well-informed exploration and drilling programs to be completed in 2022.
Quality Assurance / Quality Control
Drilling completed at East Niv in 2021 was supervised by on-site NorthWest personnel who collected and tracked samples and implemented a full QA/QC program using blanks, standards, and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Bureau Veritas (BV) in Vancouver BC for analysis. BV's quality control system complies with global certifications for Quality ISO9001:2008. Core samples were analyzed using a combination of BV's MA200 process for low level concentrations (ICP-MS/4 Acid digestion) and the MA370 process for higher level concentrations (ICP-ES/4 acid digestion). Gold assaying was completed with FA430, a 30-gram fire assay with AAS finish, with gold overlimits completed with a gravimetric finish.
Technical aspects of this news release have been reviewed, verified, and approved by Ian Neill P.Geo., Vice President Exploration of NorthWest, who is a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Minerals Projects.
About NorthWest:
NorthWest is a new copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, NorthWest is well positioned to participate fully in a strengthening global copper market. Additional information can be found on the Company's website at www.northwestcopper.ca.
On Behalf of the Board of Directors of Northwest Copper Corp.
"Peter Bell"
Director, President and CEO
For further information, please contact:
| Adrian O'Brien, Director Marketing & Communications Tel: 604-809-6890 Email: aobrien@northwestcopper.ca |
Neither 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 release.
Cautionary Statement Regarding Forward-Looking Statements
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements including but not limited to statements with respect to: the Company's goals for 2022; geological interpretations; anticipated drill results and exploration results; the estimation of mineral resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; mine plans; future exploration prospects; the completion and timing of technical reports; future growth potential of NorthWest Copper; and future development plans. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements. Although NorthWest believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since NorthWest can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in NorthWest's periodic filings with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from NorthWest's expectations include risks associated with the business of NorthWest; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Company's mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in NorthWest's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. NorthWest does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
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? True widths of the reported mineralized intervals have not been determined.
? Assumptions used in USD for the copper equivalent calculation were metal prices of $3.25/lb. Copper, $1,600/oz Gold, $20/oz Silver, and recovery is assumed to be 100% given the level of metallurgical test data available. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.7182) + (Silver (g/t) x 0.0090).
? See News Release dated November 8, 2021 available at www.northwestcopper.ca and the Company's profile at www.sedar.com.
PDFs accompanying this announcement are available at:
http://ml.globenewswire.com/Resource/Download/60e7bcb9-ee6d-4c26-9758-032c5096aa16
http://ml.globenewswire.com/Resource/Download/e2980dd1-ec55-4b90-ae8e-f1863102529d
http://ml.globenewswire.com/Resource/Download/210ac8b1-4629-4a9e-a3ff-aef4e01ff244