NorthIsle Copper and Gold drills 0.49% CuEq over 125 metres at North Island, British Columbia
NorthIsle Copper and Gold Inc. [TSXV-NCX] has discovered a new mineralized porphyry system, now known as West Goodspeed, approximately 1,300 metres west of the Goodspeed target and 1,200 metres southeast of the Red Dog Deposit within the district-scale North Island Project, northern Vancouver Island, British Columbia. Exploration during 2023 has demonstrated that the North Island Project continues to expand in an area with existing infrastructure and a legacy of mining and resource production.
Highlights: Drilling at the new West Goodspeed target has intercepted mineralized porphyry-style alteration with significant grades over lengthy intervals within 50 metres from surface.
GS23-04 includes 31 metres grading 0.46% CuEq (copper equivalent), 54 metres grading 0.34% CuEq and 78m grading 0.48% CuEq.
GS23-05 includes 38 metres grading 0.35% CuEq, 125 metres grading 0.49% CuEq. and 6 metres grading 0.35% CuEq.
Mineralization above a 0.1% cut-off accounted for more than 55% of the length of both holes drilled in this area, with the entire length of the holes bearing highly anomalous copper through end of hole Intercepts are within an open, undrilled volume at the north edge of a large magnetic anomaly interpreted to be transitional from base of lithocap to potassic alteration zone commonly found close to porphyry center
Sam Lee, President and CEO, stated: “This new West Goodspeed discovery is yet another example of the highly prospective nature of the northwest portion of the property. Today’s drill results demonstrate very near surface mineralization over at least 200 metres of lateral extent in an area which has not previously been fully surveyed by modern exploration techniques or drilling. This newly discovered area remains open in all directions and gives us yet another target for 2024 exploration in addition to the gold rich zone at Northwest Expo.”
NorthIsle has reviewed the assessment reports from previous programs at Goodspeed. Check assays have not been carried out on this core; however, the mineralized lithologies described, as well as related assays results, are consistent with nearby holes drilled, logged and assayed by NorthIsle.
NorthIsle, through its 100%-owned subsidiary North Island Mining Corp., owns the North Island Project, which is one of the most promising copper and gold porphyry projects in Canada. The North Island Project is located near Port Hardy, British Columbia on a more than 34,000-hectare block of mineral titles 100%-owned by NorthIsle stretching 50 km northwest from the now closed Island Copper Mine operated by BHP Billiton. NorthIsle completed an updated preliminary economic assessment for the North Island Project in 2021 and is now focused on advancement of the project through a prefeasibility study while continuing exploration within this highly prospective land package.