NorthWest Copper (TSX-V:NWST) Corp has hailed initial drill results from its Kwanika project in British Columbia, which supports the idea that the asset is a high-grade porphyry copper-gold deposit.
Results from the surface expansion and confirmation drilling showed consistently high-grade intercepts starting at 25 to 36 metres (m) depth and also expanded the near-surface potential open pit mineralization. The assays come from the first 2,000m of a planned 8,500m program.
Highlights included an intercept of 230.95m at 0.99% copper equivalent starting from 35.7m. That included an intersection of 94.6m at 1.62% copper-equivalent.
"These are excellent first results and a great start for our new company, NorthWest Copper (TSX-V:NWST)," said Peter Bell, the company's CEO in a statement.
READ: NorthWest Copper initiates first drill program at East Niv property in British Columbia
"They highlight the high-grade nature of our Kwanika deposit and increase the near-surface footprint of that mineralization. The new results will be incorporated in our updated Kwanika resource planned for Q4 2021. We will have additional drill results from deeper holes and step out targets to follow these results," he added.
This year's drilling at Kwanika was designed to expand and better define the high grade copper-gold mineralization ahead of an updated resource estimate and future economic study.
Since the creation of NorthWest Copper in March this year, the company has focused on its high-grade Stardust deposit and on the high-grade portion of Kwanika.
"The expansion of the Kwanika high-grade footprint complements the new high-grade resource at our adjacent Stardust project, presented to the market in May," said Bell.
"We believe both deposits to be exceptional and the results to date support our strategy of advancing these scalable high-grade Cu-Au projects."
NorthWest added that it expects additional results later in September for the deeper Kwanika holes followed by ongoing results from East Niv and Kwanika regional exploration.
A three-hole program is expected to begin shortly at Stardust.
NorthWest Copper is a new copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, it said it is well positioned to participate fully in a strengthening global copper market.
Contact the author at giles@proactiveinvestors.com