NorthWest Copper Corp (CVE:NWST), the British Columbia-focused explorer, has unveiled a new resource estimate for its copper-gold-silver Stardust deposit, which establishes it as the province's "newest, high-grade copper gold deposit".
The new resource doubles the tonnage in both the indicated and inferred categories compared to the previous estimate, the firm said, and complements the company's adjacent Kwanika deposit, which lies around 7 km away.
"This new resource is a major step in advancing the development of Stardust as well as our nearby Kwanika deposit," said Peter Bell, CEO of NorthWest Copper in a statement.
"With this new resource in hand, along with excellent metallurgical characteristics, we can now consider production scenarios incorporating both deposits. Stardust will be a key piece of the Preliminary Economic Assessment (PEA) planned for early 2022."
Using a cut-off of US$65 per tonne and 2.5 metre minimum mining width, the new resource comprises of 1.96 million indicated tonnes at 2.59% copper-equivalent (CuEq). At a higher cut-off of US$105 per tonne, that figure is 1.31 million indicated tonnes at 3.25% CuEq.
In terms of the lower confidence inferred resources, using US$65/tonne and 2.5 metre minimum mining width, the figure is 5.84 million tonnes at 1.88% CuEq, and at US$105/tonne, the inferred resource is 3.09 million tonnes at 2.43% CuEq.
The higher-grade cut-off material provides additional options for mine plan scheduling, noted the company, while the larger resource captures the high-grade 421 zone, discovered by the company in 2018.
The 421 zone is down plunge and continuous with the shallower, previously estimated Canyon Creek resource.
Bell added: "It is still early in its exploration history and retains significant expansion potential. Stardust is a unique copper-gold and silver rich carbonate replacement deposit (CRD). The steep-plunging shoots, deposit thickness and continuity of mineralization appear favourable for bulk underground mining."
NorthWest Copper said this year's field work at the Stardust and Kwanika projects had begun, and drilling is scheduled to begin in late May this year, consisting of two diamond drill rigs.
Other activities planned for Stardust and Kwanika this year include regional mapping, sampling and geophysical surveys.
The drill program will focus on upgrading the Kwanika resource through targeting areas within the underground resource, while nearby deposit areas which hold potential for resource expansion will also be tested, along with regional targets.
In addition, Northwest Copper plans to conduct an initial drill testing program on the East Niv property, along with mapping and sampling programs at the Lorraine, Arjay, Croy-Bloom and Tchentlo project, it said.
Contact the author at giles@proactiveinvestors.com