18:05:57 EDT Sun 21 Apr 2024
Enter Symbol
or Name

Northwest Copper Corp
Symbol NWST
Shares Issued 189,759,253
Close 2023-07-06 C$ 0.16
Market Cap C$ 30,361,480
Recent Sedar Documents

Northwest Copper identifies Lorraine Boundary target

2023-07-06 07:47 ET - News Release

Mr. David Moore reports


Northwest Copper Corp. has identified a prospective drill target area approximately 6.5 kilometres northwest of the Lorraine deposit (1). The Boundary target was identified by the Northwest exploration team after a detailed review of newly compiled historical data. The target was identified primarily by new interpretations of:

  • Magnetic and induced polarization geophysical surveys;
  • Postmineralization structures and their displacements;
  • Surface rock geochemical results with values up to 11 per cent copper, 60 grams per tonne gold and 262 g/t silver;
  • Similar host geology and hydrothermal alteration to the Lower Main zone at Lorraine;
  • A historical (1974), non-compliant resource of 7.2 million t grading 0.55 per cent Cu and 3.7 g/t Ag (2) in the northern portion of the target area.

"The Boundary target is another example (3) of a high-priority exploration target in Northwest's portfolio that we would plan to test in the next drill program at Lorraine," said interim president and chief executive officer David Moore. "Boundary has the potential to add near-surface mineralization only 6.5 km from the current Lorraine resource. The target has only been tested in a restricted area by a small number of relatively shallow historical drill holes. Our new interpretations of geology and structure in combination with historical geochemical and drilling results will be of great help in locating and orienting new drill holes in this exciting target. The Lorraine project offers many excellent target opportunities with potential to add to the project's resource base."

Technical aspects of this news release have been reviewed, verified and approved by Tyler Caswell, PGeo, vice-president of exploration of Northwest, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Minerals Projects.

About Northwest Copper Corp.

Northwest Copper is a copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a Tier 1 jurisdiction, Northwest Copper is well positioned to participate fully in a strengthening global copper market. The company is committed to responsible mineral exploration which involves working collaboratively with first nations to ensure future development incorporates stewardship best practices and traditional land use. Additional information can be found on the company's website.

(1) See National Instrument 43-101 technical report titled "Lorraine Copper-Gold Project NI 43-101 Report & Mineral Resource Estimate Omineca Mining Division, B.C.," dated Sept. 12, 2022, with an effective date of June 30, 2022, filed under the company's SEDAR profile.

(2) "Report on Preliminary Feasibility and Financial Analysis of the Boundary Deposit, Tam Property," C.V. Dyson, November, 1974, internal report Union Miniere Explorations and Mining Corporation Ltd. (UMEX). The use of the term reserves in the UMEX estimation of mineralized material is a reproduction of the original terminology and does not reflect the current definition of the term reserve or imply that there are current reserves defined within the area. No information regarding the methods or parameters used to calculate the historical mineral resource estimate is available. The cut-off grade is not reported. The methods of estimation nor any statistical data are provided. The historical mineral resource was calculated prior to the implementation of the standards set forth in NI 43-101 and current Canadian Institute of Mining, Metallurgy and Petroleum standards for mineral resource estimation.

(3) Please see Northwest Copper news release dated June 21, 2023, available on the company's website and SEDAR.

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