Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to announce that it has commenced a metallurgical testing program covering the Hushamu and Red Dog deposits, as well as the Northwest Expo target on its North Island Project (the “Project”).
Sam Lee, President and CEO of Northisle commented, “We see the potential to improve both copper and gold recoveries at the project overall and are also keen to determine the potential preliminary recoveries from Northwest Expo. This program is a key element of our focus on driving project value while being efficient with shareholder capital.”
Metallurgical Program Details
Northisle has retained Kelly McLeod, P.Eng. who, together with Ausenco Engineering Canada Inc., have designed a comprehensive metallurgical program for the Project to assess the feed characteristics and metallurgical recovery performance of samples from the Hushamu and Red Dog deposits, as well as the Northwest Expo target in support of future technical studies. Laboratory testing will be conducted by Base Metallurgical Laboratories Ltd.
The program will also evaluate the use of enhanced process technologies including coarse particle flotation, alternative grinding and flotation technologies and copper / molybdenum separation testing, which will determine the potential for production of a saleable molybdenum concentrate. Finally, in order to evaluate the potential for improved gold recoveries, the program will also consider pyrite concentrate leaching based on balancing the gold content between the copper concentrate and pyrite concentrate.
Initial work on Northwest Expo will seek to determine preliminary recovery estimates based on the 2021 drill samples with additional testing to be completed following the resource definition drilling program at Northwest Expo, contemplated for the first half of 2023.
Ian Chang, P.Eng., Vice President Project Development of Northisle and a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), has approved the scientific and technical disclosure contained in this news release.
Northisle Copper and Gold Inc. is a Vancouver-based company whose mission is to become Canada’s leading sustainable mineral resource company for the future. Northisle owns the North Island Project, which is one of the most promising copper and gold porphyry deposits in Canada. The North Island Project is located near Port Hardy, British Columbia on a more than 34,000-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed Island Copper Mine operated by BHP Billiton. Northisle completed an updated preliminary economic assessment for the North Island Project in 2021 and is now focused on advancement of the project through a prefeasibility study while continuing exploration within this highly prospective land package.
For more information on Northisle please visit the Company’s website at www.northisle.ca.
Cautionary Statements regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements relating to the results of the proposed metallurgical testing program as well as any other future plans, objectives or expectations of Northisle. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, Northisle’s ability to implement its business strategies; risks associated with mineral exploration and production; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions, or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news release, and, accordingly, are subject to change after such date. Northisle does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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.