VANCOUVER, British Columbia, June 21, 2023 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) (OTCQX: NWCCF) is pleased to announce that it has identified a highly prospective drill target approximately 500 metres south of the Kwanika Central Zone1 (the “Transfer Target”). In recent months, the NorthWest exploration team has been reassessing the vast amount of exploration data available for Kwanika, which has resulted in the identification of new prospective areas. The Transfer Target is an exciting and tangible result of that ongoing work and is shown in Figures 1 and 2 below. The target was identified primarily by new interpretations of:
- The 3D induced polarization (“3DIP”) survey completed in 2022;
- New models that reconstruct movement on post-mineral structures; and
- Alteration and metal zoning patterns.
“The Transfer Target is an excellent example of NorthWest’s planned strategy to drill high-leverage exploration targets in 2023,” said Interim President and CEO David Moore. “The Transfer Target has potential to add shallow, high-impact, open-pitable mineralization within the existing footprint of the Kwanika Project. The target can be tested by a small number of relatively shallow drill holes and is logistically easy to access. Projections of grade based on truncated resource blocks west of the Line Fault can be used to effectively target this drilling and suggest that the Transfer Target may represent the faulted offset of the Kwanika Central Zone. We are continuing to reassess our historical results to identify additional high-impact drill targets within our portfolio.”
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1 See NI 43-101 technical report titled “Kwanika-Stardust Project NI 43-101 Technical Report on Preliminary Economic Assessment” with an effective date of January 4, 2023, filed under the Company’s SEDAR profile at www.sedar.com.
Figure 1 & 2: Level plans approximately 200m below surface at 870m above sea level. Figure 1 (left) highlights the Transfer Target chargeability anomaly (block model) with property scale structural interpretation, and grade shell interpolations (coloured polygons) from leapfrog geo at the Central and South Zone. Figure 2 (right) shows the same level plan highlighting the potential position of the Transfer Target relative to the Central Zone mineralization pre-faulting.
Technical aspects of this news release have been reviewed, verified, and approved by Tyler Caswell, P.Geo., Vice President Exploration of NorthWest, who is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Minerals Projects.
About NorthWest Copper:
NorthWest Copper is a copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to responsible mineral exploration which involves working collaboratively with First Nations to ensure future development incorporates stewardship best practices and traditional land use. Additional information can be found on the Company’s website at www.northwestcopper.ca.
On Behalf of the Board of Directors of NorthWest Copper Corp.
“David Moore”
Interim President and CEO
For further information, please contact:
Peter Lekich, Director Investor Relations
Tel: 604-697-4962
Email: plekich@northwestcopper.ca
Neither 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 release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. . In this news release, forward-looking statements relate, among other things, to statements with respect to: the Company’s goals for 2023; geological interpretations; the estimation of Mineral Resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or programs; future operations; mine plans; future exploration prospects; future growth potential of NorthWest; and future development plans.
All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will prove to be correct. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward-looking information are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual results to differ materially from NorthWest’s expectations include risks associated with the business of NorthWest; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Company’s mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; campaigns by investors to effect changes in management; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in NorthWest’s filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com).
Forward-looking information is based on estimates and opinions of management at the date the information are made. NorthWest does not undertake any obligation to update forward-looking information except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information.
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9ab8e2cd-581a-4dbd-a8ca-006f124f8916
