Northwest Copper Corp. [NWST-TSXV] has reported strong gold results from drilling at its East Niv project in northern British Columbia.
Drilling highlights include 7.88 g/t gold equivalent over a short interval and longer intervals at lower grades, the company said. The stronger gold mineralization surrounds copper dominant mineralization encountered in the 2021 campaign. These results, combined with the large surface copper anomaly reported in 2022 and the copper mineralization reported in 2023 outline a large mineralized system within a large property position (43,297 hectares), the company said.
The latest results include hole ENV-22-013, which returned 100.80 metres at 0.44 g/t AuEq (0.24 g/t gold, 0.10% copper and 0.40 g/t silver) from 637 metres.
“In just 24 months, we have taken East Niv from an exciting exploration concept to a project with two identified zones of mineralization, several exciting drilling intercepts and multiple exploration targets,’’ said Northwest Copper CEO Peter Ball.
Northwest Copper is a new diversified copper-gold explorer and developer with a pipeline of projects in British Columbia.
The company is the product of the merger of Serengeti Resources and Sun Metals Corp. and is led by Peter Ball, a geologist who previously spend 13 years with Newmont Corp., [NGT-TSX, NEM-NYSE], the world’s leading gold producer,
The transaction was designed to consolidate the contiguous copper-gold exploration and development assets that included Serengeti’s Kwanika project and Sun Metals’ Stardust project. Both of these assets are expected to benefit from operational synergies as they are advanced with a combined development strategy.
At the time of the merger deal, Serengeti was advancing its Kwanika copper-gold project in partnership with POSCO DAEWOOD and exploring its extensive portfolio of properties in north-central B.C.
East Niv is a brand new porphyry centre within a prolific porphyry belt.
East Niv is located within region of the eastern Stikine Terrane that hasn’t seen meaningful exploration since the 1970. Lying approximately 1.5 kilometres west of the Sustut Copper deposit and 40 kilometres south of the Kemess mine complex, the property is far enough off the beaten path to have been overlooked, but close enough to road and power infrastructure to be actionable. The property was acquired by staking in 2018 following a regional database compilation and analysis by Geoscience B.C.’s Search 111 airborne geophysical dataset. The property has since been expanded following the identification of a number of outcropping mineralized porphyry copper-gold occurences. The Stikine Terrance is host to numerous porphyry deposits and complexes.
The latest results were released early Thursday. On March 8, 2023, Northwest Copper shares closed at 26 cents and currently trade in a 52-week range of 73 cents and 19 cents.