TSX Venture Exchange Symbol: NCX
VANCOUVER, BC, May 27, 2021 /CNW/ - Northisle Copper and Gold Inc. (TSXV: NCX) ("Northisle" or the "Company") is pleased to confirm the successful conclusion of its 2021 drilling program at the Pemberton Hills target on its 100% owned North Island Project, as well as a progress update on its ongoing surface exploration program at the Goodspeed and South Macintosh targets.
The objective of this program was to confirm the existence of a large copper, gold, molybdenum bearing porphyry system. Previously completed induced polarization surveys, clay studies and geological and structural mapping and historical drilling, including a 200 metre deep drill hole ending in 0.14% copper, defined the target for this year's drill program.
The drill program at Pemberton Hills was initially planned to test the target with 3 drill holes, each with a planned minimum depth of 600m per hole. All of the holes reached their planned depth and were extended further (see table below). An additional hole drilled from the same site as the historical hole with copper mineralization tested the area to the northwest of P21-08.
Table 1: Pemberton Hill Drill Hole Collar Locations
Drill core has been cut and shipped to Bureau Veritas Labs in Vancouver, BC for analysis and results will be released once completed and reviewed.
Red Dog and NW Expo
As previously disclosed, drilling at Red Dog is anticipated to include four drill holes totalling approximately 2,000 metres. The drilling will target both the northwest extension of the higher-grade Red Dog deposit and test for the down faulted south side of the deposit. The drill program at Red Dog will begin immediately once permits are received.
At NW Expo, the untested portion of a 1.5km long IP chargeability anomaly will be tested with 4 holes totalling 2,000 metres. This drilling will commence immediately upon completion of the drilling at Red Dog anticipated to be during Q3 2021.
Goodspeed and South Macintosh Surface Exploration
The Goodspeed and South Macintosh areas are the highest priority among the multiple porphyry occurrences and high-level porphyry-type altered zones present on the property.
At South Macintosh, recent logging roads exposed a large area of previously unknown high-level porphyry alternation which is the target of a surface mapping program which commenced during May 2021.
At Goodspeed, surface exploration is now underway, with completion during April of soil sampling in the area between Red Dog and the Goodspeed target as well as detailed mapping of Goodspeed. Drilling at the Goodspeed target in the 1960s and 1990s intersected encouraging copper values including 0.32% over 24 metres, 0.19% over 72 metres, and 0.16% over 42 metres.
John McClintock, P.Eng, Vice President Exploration of Northisle and a Qualified Person as defined by National Instrument 43-101, has approved the scientific and technical disclosure contained in this news release.
Northisle Copper and Gold Inc. is a Vancouver based company whose mission is to become a leading and sustainable mineral resource company for the future. Northisle owns the North Island Project, which is one of the most promising copper and gold porphyry deposits in Canada. The North Island Project is located near Port Hardy, British Columbia on a 33,149-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Northisle recently completed an updated preliminary economic assessment for the North Island Project and is now focused on the advancement of the project through a pre-feasibility study.
For more information on Northisle please visit the Company's website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
Cautionary Statements regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expect", "intend" and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the 2021 PEA results, anticipated 2021 activities, the Company's plans for advancement of the North Island Project, including the potential use of existing infrastructure, expectations regarding the 2021 exploration program; the Company's plans for engagement with Indigenous nations, communities and key stakeholders, and the Company's anticipated exploration activities. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, Northisle's ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news release, and, accordingly, are subject to change after such date. Northisle does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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.
SOURCE NorthIsle Copper and Gold Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2021/27/c2952.html