Northisle's Third Hole at Red Dog Intersects 0.28% Copper and 0.48 gpt Gold Over 99.6 Metres
VANCOUVER, BC--(Marketwired - September 27, 2016) - Northisle Copper and Gold Inc. (TSX VENTURE: NCX) ("Northisle" or the "Company") is pleased to announce that the third verification hole (RD-16-03) on the Company's Red Dog deposit extended the depth of the mineralized zone 30 metres beyond the south-eastern boundary of the historical resource defined by the adjacent historical drill hole.
Highlights
- Hole RD 16-03 intersected 0.28% copper and 0.48 gpt gold over a core length of 99.6 metres.
Jack McClintock, P. Eng, President of Northisle commented: "Results received to date from the verification drill program clearly support our view that Red Dog will qualify for inclusion in the overall Hushamu project. We are also excited by the possibility that Red Dog may be larger than thought given that the mineralized zone intersected in the third hole extends beyond the depth level of the 1991 drill hole."
Drill Results
| Hole | From (m) | To (m) | Width (m) | Copper (%) | Gold (gpt) | |||||
| RD-16-03 | 1.2 | 100.8 | 99.6 | 0.28 | 0.48 | |||||
| including | 1.2 | 72.0 | 70.8 | 0.30 | 0.55 | |||||
| *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 on September 13th and 20th, 2016.
Drill-hole RD 16-03, drilled at -45 degrees to the south was collared two metres from and parallel to historical drill hole DDH 91-04 that was drilled by Moraga Resources Ltd. in 1991. The historical hole assayed 0.33% copper and 0.50gpt over 70.6 metres, a similar interval length to results in RD-16-03 from 1.2 to 72 metres. Unlike hole DDH 91-04, which was lost in a fault, this year's drill hole successfully penetrated the fault and continued in strong mineralization for an additional 30 metres.
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 verification hole will be released when 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 who reviewed and approved the scientific and technical disclosure in this news 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