Northwest Copper Corp. [NWST-TSXV; NWCCF-OTCQX] reports drill hole K-21-217 has returned the highest-grade copper-gold interval ever intersected at the Kwanika project that is easily accessible by road from the town of Fort St. James, British Columbia. The interval consists of massive to semi-massive copper and gold mineralization at moderate depth in the western half of the deposit. It expands the high-grade portion of the deposit, introducing a new style of mineralization.
The drill intercept returned the following mineralized intervals: 235.45 metres of 2.92% copper equivalent (CuEq) comprising 2.00% copper, 1.21 g/t gold and 5.3 g/t silver containing 153.25 metres of 4.13% CuEq comprising 2.84% copper, 1.69 g/t gold and 7.5 g/t silver, further containing 9.40 metres of 33.60% CuEq comprising 29.85% copper, 4.34 g/t gold and 70.5 g/t silver.
“This drill hole is a game changer for our Kwanika deposit and for the region,” said Peter Bell, president and CEO. “The very high grade within a larger porphyry system is very unusual and establishes a brand new and incredibly exciting target type. We drilled one of the highest-grade drill holes reported globally in 2018, when DDH18-SD-421 intersected 100 metres of 5.30% CuEq, at our adjacent Stardust deposit. This new Kwanika drill hole is even higher grade than drill hole 421 and occurs just seven km away. The presence of such extraordinary grades in multiple deposits is both surprising and rare and opens up multiple, very high-grade exploration targets over a substantial area.”
Northwest’s goals at Kwanika in 2021 included expanding the high-grade zone and improving the grade within it by drilling angled holes across mineralized structural zones with closer-spaced drilling. The results to date have exceeded the company’s expectations, both expanding and improving the continuity and grade.
Kwanika is held by Northwest Copper with a 65% interest, and POSCO Daewood, which owns the other 35%.
The company has entered into a market-making services agreement for Independent Trading Group (ITG) Inc. will provide certain market making services to the company principally to assist in providing liquidity and stability to the company’s common shares trading on the TSX Venture Exchange.
In early trading on October 27, shares of Northwest Copper gained $0.29 to $0.92 on a volume of 7,181,000 shares traded.