This is the first drill program for NorthWest in 2024. It is an integral component of the Company's shareholder value objective to grow our mineral resource base via exploration.
Approximately 1,000 meters ('m') of drilling is planned at Lorraine-Top Cat and the proposed holes will focus on the regional Nova and Road IP Targets. Both targets have potential to discover mineralization in areas outside of the current Lorraine mineral resource estimate ('MRE') (indicated resources of 12.952 million tonnes ('Mt') grading 0.55% copper ('Cu') and 0.16 g/t gold ('Au'), and inferred resources of 45.252 Mt grading 0.43% Cu and 0.10 g/t Au at 0.20% copper cut-off grade1)2.
Road IP Target
The Road IP Target is a geophysical and geochemical target 13 kilometer ('km') to the north of the Lorraine MRE and is within the same valley as the Nova Target. This target comprises a coincident magnetic low with internal magnetic high, induced polarization (IP) chargeability high, and Cu-Mo Ah soil and silt anomalies3. The Road IP Target model is that of a calc-alkaline porphyry system hosted by intrusions of the Hogem batholith, a deposit style that may exhibit geophysical and geochemical patterns that differ from targets in the
The Nova Target is a geophysical feature consisting of coincident magnetic and IP chargeability highs. The strongest magnetic response measures approximately 400 x 200 m. Nova is approximately 10 km northeast of the Road IP Target. A boulder of pyroxenite altered to skarn collected from a borrow-pit along the road that crosses the Target returned high concentrations of Cu-Au-Ag-Pt-Pd of 1.39% Cu, 0.69 g/t Au, 6.45 g/t Ag, 0.21 g/t Pt and 1.398 g/t Pd.4 It is important to note that this potentially transported sample may not be representative of underlying bedrock. Thin section analysis by Dr.
'Massive skarn dominated by actinolite with lesser magnetite-(ilmenite) and apatite, with a few skeletal interstitial grains of hornblende, scattered patches of chalcopyrite and much less abundant bornite (altered slightly to completely to covellite), and minor biotite and chlorite.'
The Nova Target occupies flat, low-lying ground, and is covered by till. It is bisected by the
The Project covers 65,000 ha and is located in north-central
About
Vice President, Exploration
Tel: 604-683-7790
Email: info@northwestcopper.ca
Cautionary Statement Regarding Forward-Looking Information
This news release contains 'forward-looking information' within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates', or 'believes' or variations (including negative variations) of such words and phrases, or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to statements with respect to; plans and intentions of the Company; proposed exploration and development of NorthWest's exploration property interests including potential size of budget and type of exploration being conducted; the Company's ability to finance future operations; the potential size of a mineralized zone or potential expansion of mineralization; geological interpretations; the estimation of Mineral Resources; future operations; mine plans, and magnitude or quality of mineral deposits.
All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will prove to be correct. Forward-looking information involves 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 information, including the risks, uncertainties and other factors identified in NorthWest's periodic filings with Canadian securities regulators. Forward-looking information 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 information. 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
Forward-looking information is based on estimates and opinions of management at the date the information are made. NorthWest does not undertake any obligation to update forward-looking information except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information.
(C) 2024 Electronic News Publishing, source