ArcWest Provides Exploration and COVID-19 Health and Safety Update
ArcWest Provides Exploration and COVID-19 Health and
Safety Update
Vancouver, British Columbia--(Newsfile Corp. - May 21, 2020) - ArcWest Exploration Inc. (TSXV: AWX) ("ArcWest") is pleased
to provide an update on partner-funded exploration activities planned for 2020.
Collectively, ArcWest's porphyry copper-gold-
molybdenum projects will undergo a minimum of $1,050,000 CAD in partner-funded exploration in 2020 including a first phase
drill program at Teeta Creek (optioned to Teck Resources Limited "Teck" in October 2019); as well as mapping, sampling and
geophysical programs at NVI (optioned to Teck in December 2019) and the Oxide Peak projects (optioned to Locrian
Resources Inc. "Locrian" in December 2019).
Details regarding the Teeta Creek, NVI and Oxide Peak earn-in and joint venture
agreements can be found in ArcWest 2019 press releases dated October 15
th
, December 20
th
and December 23
rd
respectively.
Tyler Ruks, President and CEO of ArcWest commented: "ArcWest is pleased to explore its northern Vancouver Island and
Kemess district porphyry copper-gold-molybdenum projects in partnership with Teck and Locrian, respectively.
These
agreements are consistent with ArcWest's goal of attracting partners to explore and develop projects while minimizing
shareholder dilution.
Advanced stage discussions with prospective partners for ArcWest's additional porphyry copper-gold
projects throughout British Columbia are ongoing."
Teeta Creek
ArcWest's 100% owned, road accessible Teeta Creek project is located near Port Alice on Northern Vancouver Island. Teeta
Creek is 23 kilometers south of BHP-Billiton's past producing Island Copper porphyry copper-molybdenum-gold mine and 40
km south of NorthIsle Copper and Gold's advanced stage Hushamu porphyry copper-gold project, currently being explored under
an earn-in agreement with Freeport McMoRan.
Porphyry copper mineralization at Teeta Creek was explored between 1967 and
1976 by Newmont, Cities Service Mineral Corp. and others. Eleven diamond drill holes completed during this period outlined a
950 by 500 meter zone of porphyry copper mineralization which remains open in all directions. Highlight drill intercepts include
0.35% Cu over 67.1 meters in S75-1, and 0.36% Cu over 36.5 meters in S68-3.
Recent work by ArcWest and Seven Devils
Exploration identified broad zones of intensely altered porphyry dykes, multistage breccias and porphyry Cu-Mo veins over 700
meters north and 200 meters elevation above the zone of historical drilling. Rock samples from the new exposures returned up to
0.473% Cu and 0.031% Mo. In addition, newly identified, porphyry hosted epithermal mineralization within structurally controlled
zones of suspected advanced argillic alteration returned up to 21.1 g/t Au.
Collectively, these newly discovered alteration zones
suggest the Teeta Creek porphyry Cu and associated epithermal Au-Ag system is larger than previously recognized. Overall
dimensions now measure at least 3 by 2 kilometers and remain open to the north and south.
Teck is planning a first phase drill program at Teeta Creek consisting of approximately 1000 drill-meters scheduled to
commence in Fall 2020, subject to the removal of COVID19 travel restrictions.
A minimum exploration expenditure of $500,000
CAD is required before December 31
st
, 2020.
NVI
ArcWest's 100% owned, road accessible NVI project is located approximately 16 km southwest of BHP-Billiton's past producing
Island Copper porphyry copper-molybdenum-gold mine and approximately 40 km south of NorthIsle Copper and Gold's
advanced stage Hushamu porphyry copper-gold project, part of which is currently being explored under an earn-in agreement
with Freeport McMoRan.
The 8529 hectare NVI property was staked to cover a zone of recently discovered porphyry copper
style veining (NVI showing; see ArcWest August 23
rd
press release), multiple historic copper occurrences and a large belt of
Miocene volcanic-intrusive centres that have recently been recognized as prospective for porphyry copper-gold mineralization.
Similarly aged intrusions in northern Vancouver Island are host to significant porphyry copper-molybdenum-gold mineralization,
including ArcWest's nearby Teeta Creek project, which was optioned to Teck in an earn-in agreement announced on October
15
th
.
On the west side, the NVI property is underlain by a multiphase dioritic intrusive complex containing porphyry copper style
veining which extends 115 meters before disappearing under forest cover.
The zone of porphyry style stockwork comprises early
magnetite-chalcopyrite veins cut by quartz-magnetite-chalcopyrite+/-bornite veins.
Chalcopyrite mineralized miarolitic cavities
are locally abundant.
Historic copper occurrences on the east side of the property have never been systematically explored and
include showings described as porphyry related by previous workers.
Teck is planning a mapping, sampling and geophysical program at NVI. The program schedule is subject to the removal of
COVID19 travel restrictions.
A minimum exploration expenditure of $150,000 CAD is required before January 15th, 2021.
Oxide Peak
ArcWest's 100% owned Oxide Peak project is situated in the northern part of the Toodoggone gold-copper district, a region of
extensive Early Jurassic porphyry Cu-Au and epithermal gold-silver (Au-Ag) mineralization. Past producing Au-Ag mines include
Baker, Lawyers, Shasta and the large Au-Cu porphyry Kemess South deposit. Historical production in the district exceeds 3.2
million ounces of gold and 360,000 tonnes of copper (MINFILE, 2020). The property adjoins ground currently being explored for
porphyry copper-gold by Freeport McMoRan.
Neighbouring claims also include Benchmark Metals' Lawyers project.
The 8437 ha Oxide Peak property contains multiple undrilled zones of copper-gold mineralization that have yet to undergo
systematic mapping and geophysical surveys. Historical grab samples from the property have returned assays up to 43.32 g/t
Au and up to 3.64% Cu.
In addition, the property contains zones of strong gold in stream sediment anomalies, including samples
in excess of 10 g/t Au, that have yet to be traced to source (see ArcWest press release, July 26
th
2019).
Locrian is planning a mapping, sampling and geophysical program at Oxide Peak, with an airborne magnetic survey of the
property scheduled to commence June 2020.
A minimum exploration expenditure of $400,000 is required before December
2020.
COVID-19 Safe Operations Protocols
In response to the COVID-19 pandemic, ArcWest has adopted safe operations protocols (SGDS HIVE, 2020) made available
by the British Columbia Association for Mineral Exploration:
https://amebc.ca/wp-content/uploads/2020/04/20200416-AME_HIVE_COVID_FieldGuidelines.pdf
About ArcWest Exploration Inc.
ArcWest Exploration is a project generator focused on porphyry copper-gold exploration opportunities throughout western North
America.
The company is in possession of nine 100% owned projects throughout BC's premier porphyry copper-gold districts.
By conducting partner-funded exploration on multiple exploration projects simultaneously, ArcWest's chances of discovery are
enhanced while exposing shareholders to minimal dilution.
The company is managed by an experienced technical team with a
track record of discovery and a reputation for attracting well-funded senior partners, including Freeport McMoRan, Robert
Friedland group companies, ITOCHU, Antofagasta and Teck.
Qualified Person
ArcWest's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Jeff Kyba,
PGeo, VP Exploration, who serves as a Qualified Person under the definition of National Instrument 43-101.
For further information please contact: Tyler Ruks, President and CEO at +1 (604) 638 3695.
Investors are cautioned that ArcWest Exploration Inc. has not verified the data from the Island Copper, Hushamu and
Kemess deposits. Further, the presence and style of mineralization on these properties is not necessarily indicative of similar
mineralization on the ArcWest Exploration Inc. property. Historical assays from the Teeta Creek drill programs have not been
verified by ArcWest but have been cited from sources believed to be reliable.
This news release contains statements about ArcWest's expectations and are forward-looking in nature. As a result, they are
subject to certain risks and uncertainties. Although ArcWest believes that the expectations reflected in these forward-looking
statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the
forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof,
and ArcWest undertakes no obligation to update publicly or revise any forward-looking statements or information, except as
required by law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/56273