Northisle Copper and Gold Inc. (TSXV: NCX) has announced an initial mineral resource estimate for the Northwest Expo deposit at its 100% owned North Island Project, located on Vancouver Island in BC, Canada.
Sam Lee, president, and CEO, stated, “Today’s new resource estimate at Northwest Expo has exceeded our expectations of defining a 40 to 50Mt resource within the gold enriched Zone 1. Including the impact of the 88% gold and 76% copper recoveries, the average NSR value per tonne is nearly triple the NSR value in the North Island Project PEA and approximately $80/t at spot prices.”
“With a relatively low strip ratio, this sets a strong basis for the rapid advancement of a potential high margin, near surface deposit that could be sequenced at the beginning of our large, long life North Island Copper and Gold project. We will be aggressively advancing development and exploration under our fully funded 2024 programme.” Added Mr. Lee.
A sizeable gold-rich initial resource has been delineated for the Northwest Expo Target. Highlights include:
- Indicated resource of 1.0Moz Au Eq. grading 0.80g/t Au Eq., which includes a higher-grade subset of 0.9Moz Au Eq. grading 0.96 g/t Au Eq
- Inferred resource of 0.7Moz Au Eq. grading 0.68g/t Au Eq., which includes a higher-grade subset of 0.5Moz Au Eq. grading 0.92g/t Au Eq
- Low strip ratio of 2.52:1 waste to mineralized material
- Weighted average recovery rates of 88% and 76% for gold and copper, respectively
- 2024 drill programme anticipated to further improve indicated resource grade by targeting near-surface higher grade areas to achieve a +80% ratio of indicated to inferred resources
The total combined indicated resource at the North Island Project increased to approximately 2.5Blbs Cu and 4.9Moz Au plus inferred resource of approximately 1.4Blbs Cu and 3.0Moz Au.
To find out more, please visit www.northisle.ca
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