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VANCOUVER, British Columbia, March 31, 2022 — NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST)(OTCQX: NWCCF) is pleased to announce that drilling has started at our Kwanika project in north-central British Columbia. NorthWest has an extensive drill program planned for 2022 with over 30,000 metres in total over its entire portfolio, with a minimum of 8,600 metres at Kwanika. We are taking advantage of the infrastructure at Kwanika to begin 2022 drilling almost three months earlier than in 2021. Our first holes target potential expansion on the south side of the deposit 1 at Kwanika Central.
“This is only the second field season for NorthWest as a company and we look forward to building on the success of the 2021 program,” stated President and CEO Peter Bell. “The early start gives us a jump on our exciting 2022 exploration effort and will provide news flow through the remainder of the year. I look forward to what our team can deliver from our target-rich portfolio of projects. We begin this season with more targets and greater financial strength than 2021 and look forward to more success.”
“Kwanika delivered multiple positive surprises throughout 2021 including the high-grade breccia zone in K-21-217, higher than expected grades at the South Zone and opportunity to expand the Kwanika Central Zone to the north,” continued Mr. Bell. “We are also continuing to work with the Takla Lake First Nation, with community members working at site and supporting water baseline studies.”
NorthWest’s drill program at Kwanika in 2022 has three goals; add additional high grade within Kwanika Central and Kwanika South, increase the size of both those deposits 1 , and search for new satellite deposits. Plans to achieve these goals are described in the following sections, by deposit. This drill program is being done in parallel to the work on the Kwanika/Stardust preliminary economic assessment (PEA). Current exploration will not inform this version of the PEA, however NorthWest will continue to explore for opportunities to grow and enhance the overall project. Regional drilling locations are shown in Figure 1 and in more detail in Figure 2.
Kwanika Central anchors our Kwanika/Stardust project, with near-surface high-grade and scale. As 2021 revealed, it still has abundant potential for increases in grade and size. The grade surprise in 2021 was spectacular with hole K-21-217 encountering 236 metres of 2.93% CuEq, including 9.4 metres of 33.9% CuEq 2 , the highest-grade hole ever completed on the property. This massive copper-gold mineralization occurs in an enriched breccia which appears to cross-cut earlier porphyry copper-gold mineralization. We believe there is potential for more of this enriched breccia and will test for it in 2022.
Successful step out drilling north of Kwanika Central highlighted an undrilled gap with potential to expand the deposit footprint. We will test this area between the edge of the existing resource 1 and the long intercept of anomalous mineralization encountered in recently released hole K-21-221 3 . That hole encountered encouraging potassic alteration, quartz veining and chalcopyrite with minor bornite. On the south side of the current resource boundary we will test for incremental elevated grade tonnage with our first few holes of 2022. This program is designed to extend near-surface mineralization through shallow holes. These targets are shown on the long section through Kwanika Central, Figure 3.
The South Zone is less well explored but attractive targets were identified in 2021. Located about 1 km south of Kwanika Central, it has potential for upside, and any new discoveries or extensions are additive to the proposed Kwanika/Stardust project. Known mineralization is shallow, and has scope to grow as it is relatively poorly tested. Compared to Kwanika Central, South Zone has far fewer drillholes, drilling is relatively shallow and mineralization is unconstrained in multiple directions. The geophysical and geochemical coverage to date is also wider spaced, leaving room for growth.
Prior to 2021, the South Zone was regarded as low grade, however later last year hole K-21-223 encountered 34 metres of 1.3% CuEq 3 , highlighting the existence of higher grades at South Zone. Surrounding historical holes, including K-09-140, suggest a southward plunge to mineralization and the opportunity for additional high-grade mineralization (see Figure 4). South Zone will be an important target for NorthWest in 2022.
New Satellite Deposits
Kwanika Central and South Zone are near the northern end of a north-northwest oriented mineralized trend. NorthWest’s mineral claims cover over 30km of that trend. Current targets include the South Creek Zone and the Rottacker Zone, which have encouraging geophysical and geochemical signatures. Locations are shown on the accompanying Figure 1.
NorthWest starts this drill program with one rig, increasing to three rigs at the peak of activity. We will be using Matrix Drilling, based in Kamloops BC, the same contractor as we used in 2021. We expect to complete the first phase of Kwanika drilling by late May with follow up likely later in the 2022 season. Getting an early start on drilling will allow us to complete our programs and to have a longer exploration news flow cycle.
About NorthWest Copper:
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, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to working collaboratively with First Nations to advance our work in a culturally and environmentally respectful manner. Additional information can be found on the Company’s website at www.northwestcopper.ca .
On Behalf of the Board of Directors of NorthWest Copper Corp.
Director, President and CEO
For further information, please contact:
Adrian O’Brien, Director Marketing & Communications
Email: [email protected]
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