Northisle Begins Extensive Surface Explora Tion Program and Drilling a T Hushamu; Assa Ys Pending a T Northwest Expo and Red Dog
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
November 23, 2021
TSX Venture Exchange Symbol: NCX
NORTHISLE BEGINS EXTENSIVE SURFACE EXPLORA TION PROGRAM AND DRILLING A T
HUSHAMU; ASSA YS PENDING A T NORTHWEST EXPO AND RED DOG
Highlights:
• Newly approved $1.8 million budget including surface TerraSpec clay mapping, wireless induced polarization
and ground magnetometer geophysics program totalling over 60 line kilometers
o Targeting Macintosh, Pemberton Hills, Northwest Expo, Red Dog, and Goodspeed
o The objective is to vector into potential mineralization which, combined with 2021 drill results and
TerraSpec clay mapping will provide drill targets for 2022 programs
o Wireless IP eliminates line cutting requirements in previously un -surveyed areas, thus reducing the
environmental impact
• Drilling at Hushamu commenced on November 22 following receipt of multi-year permit
o Permit covers all required activities for completion of a pre-feasibility study
o The adjacent Macintosh target , as defined by a 2,400m by 1,500 silica -clay-pyrite alteration surface
expression, is also within the permit area and will be prioritized for geophysical work
• Northwest Expo and Red Dog drill programs concluded for 2021; assays are pending
o Historical drilling at Northwest Expo identified significant gold intercepts within porphyry mineralization
o The completed 2021 drilling was targeted to confirm and extend a potential gold-rich zone as well as
adjacent untested volumes hypothesized to contain porphyry mineralization at Northwest Expo
o Drill holes NW21-03, NW21-04, NW21-05 and NW21-08 intersected significant CMG (chlorite-magnetite)
alteration, which in the Hushamu deposit carries the most significant grades
o Assays for these holes have been prioritised and results are expected in December
Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to provide an
update on it’s 2021 exploration programs. This includes the commencement of an extensive surface exploration program,
in-fill and step-out drilling at Hushamu, and the completion of drilling at Northwest Expo and Red Dog.
Sam Lee, President & CEO of Northisle stated “Our ongoing exploration program continues to support our belief that the
North Island Project’s extensive mineral tenure package has the potential to become a district camp hosting multiple
porphyry deposits along a 50km long porphyry trend. There has already been multiple discoveries along this trend
including the Hushamu and Red Dog deposits and the adjacent Island Copper Mine owned by BHP. Our exploration efforts
in 2021 and beyond are squarely focused on four additional targets all within a 13km distance from our contemplated
central processing facility. While we are experiencing delays in receiving assay results due to backlogs at the laboratories,
we are delighted to be conducting the final phase of our 2021 drill program at Hushamu and initiating an extensive
surface exploration program to refine and identify the drill targets for our 2022 program.”
Robin Tolbert, Vice President Exploration of Northisle added “We are encouraged by drilling to date at Northwest Expo.
Visual inspection of core has identified large intercepts of silica -clay-pyrite and chlorite -magnetite alteration, which is
consistent with that observed at Hushamu, Red Dog, and elsewhere on the property, as well as in historical mining from
the nearby BHP Island Copper Porphyry Mine. Assays are pending and we look forward to receiving results during
December.” He added, “We have received a multi-year permit which provides us with the flexibility to complete both the
necessary in -fill and geotechnical drilling at Hushamu and the drilling of the adjacent Macintosh target . This target
represents a 2.4 km by 1.5 km porphyry alteration system 1.4 km south of the Hushamu deposit.”
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Key Exploration Catalysts
Key exploration catalysts for the Company are detailed in Table 1 below:
Table 1: Key Exploration Catalysts
Timing Category Details
Through H2
2022 Drilling Initiate Hushamu in-fill and step out drilling
Q4 2021 Assays Northwest Expo and Red Dog Assays
Q4 2021 Surface
Exploration Results from surface exploration at Macintosh
Q1-Q2 2022 Surface
Exploration
Results from surface exploration at Northwest
Expo, Pemberton Hills
Q1 2022 Drilling Initiate drilling at Macintosh
Q2 2022 Surface
Exploration
Results from surface exploration at
Goodspeed, Red Dog
Additional 2022 exploration programs will follow the above activities. Additional details by target are provided below.
Northwest Expo
Northisle completed drilling at Northwest Expo in October. Based on visual inspection of core as well as proximity to
historical drilling, which contained significant intercepts of gold-rich porphyry mineralization, drill holes NW21-03, NW21-
04, NW21-05 and NW21-08 have been prioritized for assay and are anticipated to be received in December 2021.
The objective of the 2021 program at Northwest Expo was to drill test anomalies indicated by limited induced polarization
surveys completed in 2012. In addition, a review of historical drilling from 2005 and 2007 identified several intercepts of
economically significant gold and c opper which are detailed in Table 2. Figure 1 shows the location of 2021 drilling at
Northwest Expo in the context of historical drilling . The previous IP geophysics identified a 550 m wide chargeability
anomaly (>15mV/V) extending south from a line running northeast from 5619500 North, north of DDH EC245 to 571400
East, northeast of DDH NW21 -02. This is open to the north. The IP/Mag survey commencing shortly will cover that
unsurveyed area.
Table 2: Northwest Expo Historical Drill Data
Hole ID Azimuth Dip Elev (m) Interval (m) Length
(m)
Cu Grade
(%)
Au Grade
(g/t)
EC218 206 -60 417 323.8 – 379.5 55.7 0.15 0.63
EC228 205 -56 396 151.8 – 221.9 70.1 0.22 1.15
EC233 230 -57 428 329.2 – 423.7 94.5 0.13 0.86
EC234 180 -56 428 286.5 – 384.0 97.5 0.16 0.94
EC236 175 -77 166 219.2 – 395.6 176.4 0.12 0.09
EC242 85 -80 231 210.3 – 301.8 91.5 0.15 0.19
EC245 200 -68 422 148.0 – 199.9 51.9 0.18 1.44
and EC245 234.7 – 264.9 30.2 0.25 2.03
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Figure 1: Northwest Expo Plan Map with Drill Holes and Alteration
NOTE: EC230, EC231 and EC241 were abandoned at shallow depths
EC223 had anomalous values of Cu > 100 ppm from 39 – 83.5 m
EC237 had anomalous values of Cu >100 ppm from 127 – 369 m
EC244 had anomalous values of Cu > 100 ppm from 230.5 – 317 m
The lithologies in tersected in the historic holes above and in NW21-03 consist of strongly altered Jurassic Bona nza
Formation volcaniclastics and flows intruded by several felspar -porphyry, hornblende-felspar porphyry dykes, silicified
breccias and exsolution textures interpreted as occurring at the upper levels of a porphyry system. All the drill holes listed
in Table 1 intersected silica-clay-pyrite (SCP) alteration in the upper parts o f the holes, then entered long intervals of
mineralized chlorite -magnetite-chalcopyrite (CMG) alteration. CMG ,a major component of the mineralization at
Northisle’s Hushamu and Red Dog Deposits , is observed at the surface at Northisle’s Goodspeed prospect , as well as
occurring in the Island Copper Porphyry Deposit.
Several additional holes were drilled during the 2005 and 2007 campaigns; however, these were drilled primarily to the
south of the 2021 target area and intercepted SCP alteration. SCP alteration commonly occurs in the upper levels of
traditional porphyry system models and, in the North Island Project area, tends to be enriched in molybdenum. Notably,
at Hushamu, SCP is a significant component of the resource.
2021 drill holes NW21-03 to 05 were drilled in a fan to the southwest, southeast and east. NW21-03 intersected 129 m
of CMG from 288m to 417m , similar in alteration and mineralization styles to EC218, 228, 233, 234 and 245. NW21-04
and 05 intersected SCP and long intervals of exsolution textures consisting of clay altered pyritic globules in a dark, fine-
grained silica matrix. Drill holes NW21-06 and 07 intersected a major fault zone and were abandoned . The drill was
moved 20 metres NE and NW21-08 intersected SCP alteration and encountered porphyry-style stockwork pyrite veining
at depth. It was terminated in a late dyke. Collar details of the 2021 drill holes can be found in Table 3 below.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Table 3: Northwest Expo Drill Hole Collar Locations
Hole ID Azimuth Dip Easting
UTM
Northing
UTM
Hole Depth
(m)
NW21-01 225 -60 571349 5619959 480
NW21-02 230 -60 571046 5619943 522
NW21-03 206 -60 569588 5619451 571.2
NW21-04 150 -60 569587 5619454 510
NW21-05 70 -60 569590 5619457 451
NW21-06 170 -60 570032 5619694 132
NW21-07 170 -60 570031 5619693 330.3
NW21-08 170 -70 570055 5619714 552
The observed styles of alteration and mineralization in drill holes at Northwest Expo are consistent with Northisle’s
current hypothesis that this porphyry system is tilted to the southwest so that the core of the porphyry system lies to the
northeast.
Red Dog
At Red Dog, drill hole RD21-01 was targeted to test SCP alteration at depth to the south of a major east-west trending
fault zone and to drill through the fault and underneath the Red Dog deposit which consists of a mineralized silica-
magnetite breccia. The objective was to find the source porphyry for this mineralization. This drill hole encountered SCP
alteration but no porphyry on either side of the fault. RD21-02 was drilled to test an IP chargeability anomaly northwest
of the Red Dog deposit. The anomaly was found to be caused by SCP and propylitic alteration occurring from near surface
to over 300 m depth in the hole. The hole ended in late basalt and felspar-porphyry dykes. Upon completion of these
holes, and following reinterpretation and a new hypothesis that this deposit is tilted to the southwest the decision was
made to prioritize drilling at Northwest Expo and to complete a more extensive IP survey in the northeast part of the Red
Dog system in order to better target drilling.
Table 4: Red Dog Drill Hole Collar Locations
Hole ID Azimuth Dip Easting
UTM
Northing
UTM
Hole Depth
(m)
RD21-01 0 -70 572064 5617616 504
RD21-02 360 -90 571454 5618404 393
Assays for all of the above-noted 2021 Northisle holes are pending with first results expected in December.
Hushamu
Drilling at Hush amu has now commenced, following receipt of a multi -year (MYAB) permit which was updated to
incorporate all work anticipated for a pre-feasibility study on the Hush amu and Red Dog deposits. The objective of the
multi-year drill program of over 79 holes is to upgrade those portions of the deposit that are defined as inferred to
indicated or better resource categories in addition to testing areas near the defined resource with potential for increasing
the global resource. With drilling occurring later in the season than originally anticipated, drilling will take place at higher
elevations and then may move to lower elevations of the deposit, depending on weather conditions.
The Macintosh target, included within the MYAB permit area for Hushamu will be evaluated by TerraSpec clay analysis
and Simcoe IP/Mag geophysics to provide targets for drilling in Q1 2022.
Surface Exploration
Northisle has retained Simcoe Geoscience Limited (“Simcoe”) to undertake a staged geophysical survey covering multiple
porphyry-style targets at the North Island Project. This program seeks to provide along with Terra Spec clay analyses
district-wide targets for 2022 drilling. Simcoe uses the innovative Alpha IP TM system, which provides the ability to
complete IP surveys while minimizing the impact on the environment by eliminating the need for traditional line-cutting.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Simcoe will also be completing a ground magnetic survey and will provide 2D and 3D inversions of the in duced
polarization data which will be integrated with previous IP, surface mapping, drilling and TerraSpec clay analyses.
Details of the program are subject to change but are currently contemplated to include more than 60 line kilometers
covering the Pemberton Hills, MacIntosh, Goodspeed, Red Dog and Northwest Expo areas. This program is expected to
be completed by Q2 2022.
Simultaneously, Northisle personnel will be completing geological mapping and surface sampling across the same target
areas to integrate geology, clay mineralogy and rock geochemistry with geophysics in order to generate targets for follow-
up drilling commencing in 2022.
Qualified Person
Robin Tolbert, P.Geo., Vice President Exploration of Northisle and a Qualified Person as defined by National Instrument
43-101, has approved the scientific and technical disclosure contained in this news release.
About Northisle
Northisle Copper and Gold Inc. is a Vancouver -based company whose mission is to become a leading and sustainable
mineral resource company for the future. Northisle owns the North Island Project, which is one of the most promising
copper and gold porphyry deposits in Canada. The North Island Project is located near Port Hardy, British Columbia on a
33,149-hectare block of mineral titles 100% owned by Northisle stretching 50 kilometres northwest from the now closed
Island Copper Mine operated by BHP Billiton. Northisle recently completed an updated preliminary economic assessment
for the North Island Project and is now focused on advancement of the project through a prefeasibility study while
continuing exploration within this highly prospective land package.
For more information on Northisle please visit the Company’s website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
Nicholas Van Dyk, CFA
Chief Financial Officer
Tel: (778) 655-9582
Email: [email protected]
www.northisle.ca
Cautionary Statements regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements under applicable securities law. Any statements that are contained
in this news release that are not statements of historical fact may be deemed to be forward -looking statements. Forward-looking statements are
often identified by terms such as “may”, “should”, “anticipate”, “expect”, “intend” and similar expressions. Forward-looking statements in this news
release include, but are not limited to, statements relating to the 2021 PEA results, anticipated 2021 or 2022 activities, the Company’s plans for
advancement of the North Island Project, including the potential use of existing infrastructure, expectations regarding the 2021 exploration
program; the Company’s plans for engagement with Indigenous nations , communities and key stakeholders, and the Company’s anticipated
exploration activities. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, Northisle’s ability to
implement its business strategies; risks associated with mineral exploration and production; risks associated with general ec onomic conditions;
adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to
access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favour able terms; industry and
government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate flu ctuations; and other
risks. Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on forward -looking statements as there can be no assurance that the plans, intentions
or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of
preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward -looking statements contained in
this news release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release represent the expectations of management of Northisle as of the date of this news
release, and, accordingly, are subject to change after such date. Northisle does not undertake any obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.