Northisle Announces Second Hole at Red Dog Intersects 0.33% Copper and 0.52 gpt Gold Over 146 Metres
VANCOUVER, BC--(Marketwired - September 20, 2016) - Northisle Copper and Gold Inc. (TSX VENTURE: NCX) ("Northisle" or the "Company") is pleased to report results for the second drill hole (RD 16-02) from the recently completed four-hole diamond drill program on the Red Dog deposit. When taken in conjunction with the initial hole of the program, RD-16-01, the results increase the potential for the Red Dog resource to be included in the Preliminary Economic Assessment (PEA) that is currently underway for the Hushamu deposit.
Highlights
- Hole RD 16-02 intersected 0.33% copper and 0.52 gpt gold over a core length of 146 metres.
Jack McClintock, P. Eng, President of Northisle commented: "We eagerly await the results for the remaining two holes from this season's verification drill program. Being able to include Red Dog as a qualified resource in the Hushamu PEA has the potential to significantly benefit the overall scope and economics of the project."
Drill Results
| Hole | From (m) | To (m) | Width (m) | Copper (%) | Gold (gpt) |
| RD-16-02 | 8 | 154 | 146 | 0.33 | 0.52 |
| *RD-16-01 | 1.5 | 200 | 198.5 | 0.31 | 0.47 |
Reported widths are drilled widths. True widths have not been determined.
*Previously reported e on September 13th, 2016.
Drill-hole RD 16-02, drilled at -71 degrees to the south was collared four metres from and parallel to historical drill hole EC 132A/132 that was drilled by Utah Mines Ltd. in 1982. The historical hole assayed 0.31% copper and 0.51gpt over a similar interval length of 146 metres, statistically identical to results in RD-16-02. There were no geological differences noted between the two holes.
Red Dog is located eight kilometres northwest of the Hushamu Deposit within Northisle's 100% owned North Island Project on Vancouver Island, British Columbia. Results for the remaining two verification holes will be released as they become available.
Analytical Techniques
Analysis of core samples was carried out at BVL Minerals' (formerly ACME Analytical) Vancouver facility. Gold analysis is by fire assay methods with atomic absorption finish. Analysis for copper and other metals is by a four acid digestion with ICP finish. Quality Assurance and Control (QA/QC) included insertion of standards and blanks in to the sample stream and duplicate samples on quartered core.
The North Island Copper-Gold Project
The Hushamu Resource
The North Island Copper-Gold Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and five other partially explored copper-gold porphyry occurrences. The Company has a current resource estimate of the Hushamu Deposit which has been filed on Sedar. The project is 100% owned by Northisle.
| Resource Grade | Contained Metal | |||||||||
| Tonnes (x1000) | Copper % | Gold g/t | Mo % | Re ppm | Cu Eq % | Copper B lb | Gold M oz | Mo M lb | Re Kg x 1000 | |
| Indicated | 304,000 | 0.21 | 0.29 | .010 | 0.55 | 0.45 | 1.4 | 2.8 | 65.7 | 167.4 |
| Inferred | 205,600 | 0.18 | 0.26 | .008 | 0.38 | 0.39 | 0.8 | 1.7 | 34.9 | 78.1 |
** Copper equivalent calculated using US$2.50/lb Cu, US$1100/oz Au and US$14.00/lb Mo and is not adjusted for mining and metallurgical recoveries as these remain uncertain. The formula used is as follows: CuEQ = (Cu% x 22.0462 x 2.50) + (Au g/t x 1100.00/ 31.1035) + (Mo% x 22.0462 x 14.00). Rhenium values have not been used in the cutoff grade or Cu Equivalent calculations
Red Dog Property
The Red Dog Property is located 8km northwest of the Hushamu Deposit and hosts a historical mineral resource of 20 million tonnes grading 0.30% copper, 0.5gpt gold and 0.012% molybdenum. The reader is cautioned that a qualified person has not done sufficient work to classify the historical estimate as current resources and Northisle is not treating the historical estimate as current mineral resources.
John McClintock, P. Eng is the Qualified Person responsible for the technical content of this release.
For more information on Northisle and the Hushamu Deposit please visit the Company's website at www.Northisle.ca.
On behalf of Northisle Copper and Gold Inc.
"John McClintock"
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.
Contact
John McClintock
President, CEO and Director
info@northisle.ca
www.northisle.ca