Northisle to Start Drilling Hushamu Deposit in January
05.01.2012 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Jan. 5, 2012) - Northisle Copper and Gold Inc. (TSX VENTURE: NCX) ("Northisle" or the "Company") is pleased to announce that drilling at its Hushamu Deposit will begin in January. Recent exploration carried out by the Company, including re-logging of historical core and re-interpretation of the geology, shows the Hushamu deposit remains open to the north and south. The planned program will test for extensions of the mineralization in these directions with approximately 4,000 metres in 10 to 12 holes.The Hushamu porphyry deposit was extensively drilled in the 1970s and 1980s and contains a historical resource of copper and gold with incomplete assay results showing appreciable molybdenum and rhenium present. Northisle is in the process of updating the Hushamu resource to bring it to current status. In addition to revising the geological model, historical core has been analysed for rhenium and, where missing, molybdenum which will be included in an updated resource estimate.
The Hushamu Deposit is the most advanced of six known porphyry copper, gold and molybdenum occurrences at the Island Copper-Gold Project. Induced polarization surveys covering these occurrences were partially completed in late 2011 and will resume in March when weather conditions permit.
About Northisle
Northisle is a Vancouver based junior resource company committed to the exploration and development of the Island Copper-Gold Project on Northern Vancouver Island. The 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. A $1.5 million exploration program at the Island Copper-Gold Project was initiated in August 2011.
For more information on Northisle and the Hushamu deposit please visit the Company's website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
John McClintock
President, CEO and Director
This press 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.
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.
Contact Information
Northisle Copper and Gold Inc.
John McClintock
President, CEO and Director
604-638-2515
604-669-2926 (FAX)
info@northisle.ca
www.northisle.ca