NorthIsle Copper and Gold (TSXV:NCX) has announced significant progress in its exploration at West Goodspeed, British Columbia. The company reported intercepting porphyry-related copper mineralization over an 800-meter strike length. This development comes after completing over 3,077 meters of drilling at the site.

Robin Tolbert, Vice President Exploration of Northisle commented in a press release: “Initial returns from West Goodspeed are promising, with our team’s 2024 exploration strategy demonstrating a high rate of success of intercepting mineralization. These results are preliminary, but we are encouraged by the drilling to date and look forward to receiving assays over the coming weeks.”

The assays from the first completed hole of 2024 (GS24-06) revealed copper and gold mineralization over approximately 200 meters, starting just nine meters below the surface. These findings, detailed in Table 1 of their report, highlight the presence of chalcopyrite observed in all 2024 drill holes. While these initial results are promising, NorthIsle cautions that they are preliminary and not indicative of a deposit with economically viable extraction prospects.

The calculations for copper and gold equivalents used by NorthIsle are based on prices of US$3.50 per pound for copper and US$1,800 per ounce for gold, with the assumptions of 100% recovery rates. The company’s 2024 Resource Estimate for Northwest Expo also used these prices.

Seven drill holes, totaling more than 3,077 meters, have been completed at West Goodspeed in 2024, with further drilling planned. The goal is to target higher-grade potassic zones often found in similar porphyry systems. All holes have shown visually observed copper mineralization within quartz-sericite-pyrite and chlorite-magnetite altered volcaniclastics, as well as feldspar porphyry and quartz diorite intrusive rocks. This type of mineralization is consistent with the potassic zone of a porphyry system.

The mineralization has been estimated to extend over a strike length of 800 meters, a dip length of 300 meters, and a true width of 50 to 150 meters, with the volume remaining open along strike and up and down dip. These positive initial results have led to additional drilling to better understand the extent and structural controls of the mineralization.

In addition to drilling at West Goodspeed, NorthIsle plans to stage additional drilling at the Northwest Expo target starting in the second half of July. The company is utilizing reactivated forest service roads for drilling, which first encountered significant mineralization in 2023. Subsequent drill holes have confirmed porphyry-style copper mineralization.

NorthIsle has also engaged Precision Geosurveys Inc. to conduct a high-resolution airborne gradient magnetic survey to assist in drill planning. This survey covers the area from Northwest Expo to southeast of the Goodspeed target.

NorthIsle has laid out a detailed exploration and development plan for 2024, with various milestones already completed. These include geophysics results, metallurgical testing, and the commencement of the 2024 drilling program. The company anticipates further exploration results in the third quarter of 2024 and a mineral resource estimate update. A Preliminary Economic Assessment (PEA) for the North Island Project is expected in the fourth quarter of 2024.

Highlights from the results are as follows:

• Northisle has now completed 7 new diamond drill holes totaling over 3,077m in its 2024 Phase 1 West Goodspeed drill program which commenced in May 2024
• GS24-06 intercepted copper and gold mineralization over more than 200m depth from 9m below surface
  • Significant intercepts include 68m grading 0.56% Cu Eq. and 59.8m grading 0.37% Cu Eq.
• Mineralization is found within intense stockwork veining indicative of multiple phases of hydrothermal activity commonly found in the proximity of mineralized porphyry systems
• Porphyry-related alteration with chalcopyrite has been visibly observed in all 2024 holes, with systematic spot pXRF scanning confirming the presence of copper mineralization
• The target remains open along strike as well as up and down dip

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.