NorthWest Copper (TSX-V:NWST) Corp has announced plans for the first phase of exploration on its 100%-owned project portfolio in north-central British Columbia.
The company said it plans to explore the 150,000-hectare land package -- with drilling starting at Kwanika then moving to Stardust then East Niv.
The program follows up on success in 2021 at Kwanika and East Niv and advances new targets at Stardust.
NorthWest said it is “unlocking value by de-risking” its flagship Kwanika/Stardust project, with results from its preliminary economic assessment (PEA) expected in the second quarter of 2022.
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"NorthWest had a very successful first year, discovering additional high-grade at Kwanika Central and a new porphyry center at East Niv. We also developed new targets at Kwanika South Zone, Stardust and Lorraine,” NorthWest CEO Peter Bell said in a statement. "We start our 2022 field season with a wealth of opportunities and a strong balance sheet. This is going to be a catalyst-rich year with abundant discovery potential."
Bell added: "Exploration is supported by the advancement of the Kwanika/Stardust PEA. This is underway currently and we now expect to release results in Q2. We look forward to updating the market with the results."
The company said Kwanika will be the first project drilled in 2022, benefiting from an abundance of targets, low elevation, and easy road access.
“We expect to be drilling there in late March. Our 2022 program consists of drilling for step-outs and for additional structural high-grade at Kwanika Central, follow-ups to successful 2021 holes in the South Zone, and initial holes in two untested regional targets south of Kwanika. We also have planned a 3D induced polarization (IP) survey for the main part of Kwanika to assist with targeting,” the company said.
The company also said the Stardust drilling will target zones around the deposit, including the east side, untested prospective limestone west of the deposit, and extensions to known mineralization. Additional drilling will focus on converting inferred material to indicated status, de-risking the project, and improving geologic understanding.
East Niv is a grassroots discovery made in 2021 by NorthWest, following up on successful surface work and geophysics.
It is a completely new copper-gold porphyry system, the company said, with a known footprint of mineralization of about 1.5 x 1 kilometers (km) that remains open in all directions, within a 43,000-hectare land position. This very large property has been only minimally explored.
A gold-only mineralized zone was also discovered in 2021 including hole ENV-21-0075 which intersected 41 meters (m) of 1.24 grams per ton (g/t) gold, including 2m of 10.5 g/t within the porphyry footprint, although the relationship between the two mineralization styles is currently unknown.
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