The upper portion of the mineralized interval (Figure 2) is oxidized and contains supergene native copper and chalcocite, whereas the majority of mineralization comprises vein-hosted and disseminated hypogene chalcopyrite and lesser bornite. The high-grade mineralization occurs within strong potassic alteration associated with quartz-sulphide veins, variably affected in the upper part of the intersection by younger sericite alteration. Mineralization is primarily hosted by diorite and monzonite intrusions, which are cut by more weakly mineralized dykes. The 2022 drilling program at Kwanika combines holes to expand the mineralized footprint as well as to identify and further delineate high-grade zones within the deposit. Assay turnaround continues to be slower than anticipated. This is the 16 th drill hole released from the 2022 program at Kwanika, which comprises 30 holes. The following equation was used to calculate copper equivalence: CuEq = Copper (%) + (Gold (g/t) x 0.5666) + (Silver (g/t) x 0.0074
Copper, $1,650/oz Gold, $21.50/oz Silver, and recovery is assumed to be 91% for Copper, and 75% for Gold and Silver. These patterns of rock type, alteration, and style of mineralization are similar to many other holes in this part of the Kwanika deposit, and drilling continues to demonstrate excellent lateral continuity of high-grade Central Zone mineralization.”ġ See NI 43-101 technical report titled “NI 43-101 Technical Report for the Kwanika Project Resource Estimate Update 2019,” dated April 17, 2019, filed under the Company’s SEDAR profile at 2 True widths of the reported mineralized intervals have not been determinedģ Assumptions used in USD for the copper equivalent calculation (CuEq) were metal prices of $3.50/lb. The chalcopyrite and bornite mineralization is typical of this part of Kwanika. “It displays consistent high copper and gold grades over long intervals, with mineralization over most of the length of the hole, punctuated by multiple zones of over 3% copper equivalent. “K-22-242 highlights the strong mineralization that forms the core of the high-grade zone at our flagship Kwanika project” said President and CEO Peter Bell. This hole includes multiple plus 1.00% copper equivalent (“CuEq”) intervals surrounding a thick zone of continuous high-grade. 12, 2022 (GLOBE NEWSWIRE) - NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce results from hole K-22-242 drilled in the middle of the Kwanika Central Zone 1 (Figure 1).
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