Northisle Extends Strike of Mineralization at West Goodspeed to 1km
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
October 28, 2024
TSX Venture Exchange Symbol: NCX
Northisle Extends Strike of Mineralization at West Goodspeed to 1km
Highlights:
• GS24-15 was drilled to target the area 200m to the west of GS24-10 and has intercepted 20m grading 0.87% Cu
Eq., 38m grading 0.29% Cu Eq., and 54m grading 0.42% Cu Eq.
• GS24-11 through GS24-13 were targeted 350 metres down dip at West Goodspeed and, as expected, have
intercepted narrower intercepts of copper and gold mineralization
• GS24-13 intercepted mineralization above the interpreted fault planes bounding known mineralization at West
Goodspeed indicating a fault offset target for future exploration
• Remaining results from 2024 drilling include approximately 10 holes totalling 2,700 meters drilled at Northwest
Expo and GS24-16, which is testing a further step out to the NW of GS24-15
Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX-V: NCX) (“Northisle” or the “Company”) is pleased to announce
that all but one of the significant assays from the Company’s 2024 exploration program at West Goodspeed have now
been received.
Recent assays for GS24-15 confirm the presence of copper and gold mineralization over three intercepts in this hole
collared approximately 210m northwest of GS24-10, extending mineralization at West Goodspeed over a strike of at least
1,000m from northwest to southeast. As a result of the positive results in GS24 -15, Northisle recently drilled GS24-16 to
test a further step out northwest at the West Goodspeed deposit, to test the area between West Goodspeed and Red
Dog. GS24-16 intercepted intense quartz -magnetite, quartz -amphibole-biotite and quartz -chlorite-magnetite vein
stockworks and parallel vein arrays hosting chalcopyrite-bornite mineralization. Assays from this hole are anticipated in
Q4 2024.
Sam Lee, President and CEO stated “Our strategy of stepping out from known, higher grade, mineralization at West
Goodspeed has continued to expand the mineralized trend towards the Red Dog deposit as we have now defined
mineralization over more than a kilometer of strike. As a result, we recently completed a final hole at West Goodspeed
which has intercepted encouraging alteration in this undrilled area between the two deposits. The implication of
potentially connecting West Goodspeed and Red Dog could be significant and we look forward to receiving the assay
results from this final hole shortly.”
Significant intervals from 2024 drilling at West Goodspeed are shown in Table 1. GS24-11 through GS24-15 are the new
holes released today.
Table 1: West Goodspeed Newly Released Significant Intercepts
Hole ID From
(m)
To (m) Interval
(m)
Cu Grade
(%)
Au Grade
(g/t)
Mo Grade
(%)
Ag Grade
(g/t)
Re Grade
(g/t)
Cu Eq.
Grade (%)
Au Eq.
Grade (g/t)
GS24-11 185.0 210.0 25.0 0.12 0.016 0.003 0.53 0.298 0.17% 0.25
GS24-12 301.0 320.4 19.4 0.13 0.095 0.005 0.74 0.353 0.23% 0.33
GS24-13 254.0 305.0 51.0 0.17 0.181 0.04 0.004 0.172 0.32% 0.46
GS24-15 24.0 44.0 20.0 0.37 0.194 0.057 0.33 3.539 0.87% 1.26
and 66.0 104.0 38.0 0.18 0.105 0.006 0.66 0.460 0.29% 0.42
and 171.0 225.0 54.0 0.22 0.155 0.013 0.54 1.062 0.42% 0.60
GS24-16 Pending
Copper and gold equivalent calculations based on the following metal prices which were used in the Company’s 2024 Integrated Resource Estimate for North Island:
Cu = US$4.00/lb, Au = US$1,910/oz, as well as Mo = US$21/lb, Ag = US$25/ oz and Re = US$1,777/kg. Calculations assume 100% recovery; totals may not add due to
rounding. Intervals were selected based on continuous intercepts with a copper grade above 0.1% Cu or a gold grade above 0.1g/t Au.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Note on equivalent calculation:
Copper equivalent is determined by calculating total contained metal value per tonne, dividing by the copper price, and then dividing the resultant number of pounds
of copper by 2204.6. Gold equivalent is determined by calculating total contained metal value/tonne, dividing by the gold pri ce, and then multiplying the resultant
number of troy ounces of gold by 31.103. Analyzed metal equivalent calculations are reported for illustrative purposes only and assume 100% recoveries as metallurgical
testing has not yet been completed on material from the West Goodspeed target.
West Goodspeed Drill Result Details
Assay results have now been received for nine of the ten drill holes completed during 2024 on the West Goodspeed
target. These include GS24-06 (previously reported) to GS24-13 and GS24-15. GS24-14 was drilled to test a geophysical
target located approximately 1km to the southwest of West Goodspeed. It intersected a series of volcanic rocks that had
undergone extensive propylitic alteration, which may reflect the distal porphyry alteration footprint at West Goodspeed.
GS24-14 is not anticipated to contain significant mineralization. All but two of the 2024 drill holes were oriented, and
drilled from existing or reactivated forest service roads.
Table 2 shows the complete drilling data from 2024 exploration at West Goodspeed.
Table 2: West Goodspeed Significant 2024 Intercepts
Hole ID From
(m)
To (m) Interval
(m)
Cu Grade
(%)
Au Grade
(g/t)
Mo Grade
(%)
Ag Grade
(g/t)
Re Grade
(g/t)
Cu Eq.
Grade (%)
Au Eq.
Grade (g/t)
GS24-06 9.4 93.0 83.6 0.20 0.184 0.005 1.18 0.271 0.38% 0.511
including 9.4 69.2 59.8 0.22 0.201 0.005 1.24 0.291 0.42% 0.556
and 125.0 237.0 112.0 0.20 0.270 0.009 0.21 0.700 0.47% 0.623
Including 133.0 201.0 68.0 0.28 0.384 0.009 0.28 0.743 0.63% 0.846
GS24-07 13.2 168.0 154.8 0.23 0.313 0.008 1.19 0.533 0.53% 0.709
GS24-08 105.0 174.0 69.0 0.19 0.217 0.006 0.56 0.433 0.40% 0.533
and 186.0 302.0 116.0 0.15 0.134 0.006 0.19 0.385 0.29% 0.391
GS24-09 151.0 274.0 123.0 0.21 0.165 0.010 0.21 0.808 0.41% 0.542
GS24-10 46.0 256.0 210.0 0.23 0.285 0.007 1.19 0.447 0.50% 0.671
including 110.0 178.0 68.0 0.37 0.580 0.005 1.83 0.260 0.86% 1.142
GS24-11 185.0 210.0 25.0 0.12 0.016 0.003 0.53 0.298 0.17% 0.25
GS24-12 301.0 320.4 19.4 0.13 0.095 0.005 0.74 0.353 0.23% 0.33
GS24-13 254.0 305.0 51.0 0.17 0.181 0.04 0.004 0.172 0.32% 0.46
GS24-15 24.0 44.0 20.0 0.37 0.194 0.057 0.33 3.539 0.87% 1.26
and 66.0 104.0 38.0 0.18 0.105 0.006 0.66 0.460 0.29% 0.42
and 171.0 225.0 54.0 0.22 0.155 0.013 0.54 1.062 0.42% 0.60
GS24-16 Pending
Copper and gold equivalent calculations based on the following metal prices which were used in the Company’s 2024 Integrated Resource Estimate for North Island:
Cu = US$4.00/lb, Au = US$1,910/oz, as well as Mo = US$21/lb, Ag = US$25/oz and Re = US$1,777/kg . Calculations assume 100% recovery; totals may not add due to
rounding. Intervals were selected based on continuous intercepts with a copper grade above 0.1% Cu or a gold grade above 0.1g/t Au.
Note on equivalent calculation:
Copper equivalent is determined by calculating total contained metal value per tonne, dividing by the copper price, and then dividing the resultant number of pounds
of copper by 2204.6. Gold equivalent is determined by calculating total contained metal value/tonne, dividing by the gold pri ce, and then multiplying the resultant
number of troy ounces of gold by 31.103. Analyzed metal equivalent calculations are reported for illustrative purposes only and assume 100% recoveries as metallurgical
testing has not yet been completed on material from the West Goodspeed target.
Table 3 shows the collar data for the holes drilled at West Goodspeed during 2023 and 2024.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Table 3: West Goodspeed 2023 and 2024 Drill Hole Collar Locations
Hole ID Length
(m)
UTM
East
UTM
North
UTM
Elevation
Azimuth Dip
GS23-04 384 573657 5617478 341 225 -80
GS23-05 294 573387 5617444 312 90 -55
GS24-06 531 573674 5617304 338 60 -85
GS24-07 366 573673 5617302 338 270 -60
GS24-08 387 573903 5617369 379 170 -80
GS24-09 471 573903 5617369 379 125 -60
GS24-10 396 573462 5617614 324 250 -45
GS24-11 378 573661 5617798 341 180 -60
GS24-12 549 573889 5617686 413 180 -65
GS24-13 495 574491 5617411 471 220 -55
GS24-14 324 573005 5616664 303 85 -60
GS24-15 318 573280 5617720 296 230 -70
GS24-16 390 573279 5617725 295 300 -45
Field mapping during 2024 has confirmed the existence of late fault sets parallel to the major mineralization bounding
faults as shown by the red dashed lines in Figure 1, which also shows the location of the drill collars for completed drill
holes in a birds-eye view looking northeast towards West Goodspeed. Holes GS24-11 and GS24-12 were drilled south,
oblique to the interpreted post-mineral faults in an effort to test mineralization at depth and confirm the orientation
and continuity of the late mineralization off-setting faults. GS24-13 was drilled southwest, perpendicular to the
interpreted fault to further test the orientation of this late structure, as well as the down-dip and along-strike continuity
of the mineralization. Holes GS24-11 through GS24-13 were successful in testing for dislocated, re-mobilized
mineralization associated with the post mineral faults, similar to the interpreted origins of the Goodspeed stockwork
which outcrops approximately 1.2 km due east from GS24-10.
GS24-15 was drilled southwest and intersected three distinct mineralized zones, all bound by faults, and showed
intensely telescoped alteration domains, highlighting the potential for a coalesced mineralized system.
GS24-16 was added to the program following receipt of previous assays and was drilled southwest towards the Red Dog
deposit to test the continuity of mineralization in that direction. The bottom of this hole is only 200 metres from historic
holes on the margin of the proposed Red Dog pit. It intercepted intense quartz-magnetite, quartz-amphibole-biotite and
quartz-chlorite-magnetite vein stockworks and parallel vein arrays hosting chalcopyrite-bornite mineralization. This hole
shows that additional drilling is warranted in the untested area between the Red Rog and West Goodspeed deposits.
Assays for GS24-16 are anticipated in late 2024.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Figure 1: Aerial View Looking East to West Goodspeed
Figure 2 shows the drilling at West Goodspeed in a plan view, as well as additional targets in the Red Dog / Goodspeed
area.
Figure 2: West Goodspeed Showing Current Extent of Mineralized Zone Projected to Surface
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
The two post mineralization faults shown in Figures 1, 2 and 3 appear to control the present location of porphyry style
copper-gold mineralization and associated alteration. Alteration manifests as a retrograde potassic assemblage,
consisting of chlorite-magnetite (retrograded from biotite-magnetite) which is often overprinted by quartz-sericite-
pyrite alteration, as well as porphyry related sheeted magnetite or stockwork quartz magnetite and quartz-sulphide
veining as shown in Figures 5 and 6. The intensity of this porphyry related veining and copper mineralization appears to
increase to the northwest as seen in GS24-10 and GS24-15. The alteration becomes dominated by quartz-sericite-pyrite
moving outboard from the most densely veined core, displayed as late chalcopyrite-pyrite veins with sericite halos.
Marginal intrusion-related breccias are common adjacent to, or fault bounding, variably mineralized hornblende-
feldspar-quartz porphyries. The marginal breccias host mineralization in the form of late pyrite-chalcopyrite veinlets as
well as magnetite-chalcopyrite blebs as shown in Figure 4. Locally, thin siliceous hydrothermal breccias, also associated
with mineralized intrusions, host increased gold tenors, as seen in Figure 7.
Additional drilling was completed at West Goodspeed to step out and define mineralization further to the northwest.
GS24-16 was drilled northwest along strike from the GS24-15 pad to test the possible connectivity of West Goodspeed
mineralization into the Red Dog area.
Figure 3 shows the Company’s working 3D model of the West Goodspeed prospect, looking down the dip between the
interpreted bounding faults with the calculated copper equivalent assays using the same basis as the highlighted
intervals above.
Figure 3: Oblique View of West Goodspeed Looking North
Encouraging alteration, mineralization and vein textures has provided the Northisle exploration team with several
vectors towards the hypogene altered core of the mineralized Red Dog/West Goodspeed porphyry system as follows:
• Mineralization at West Goodspeed exhibits multiple generations of Cu and Au +/- Ag/Re/Mo mineralization.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
• Marginal magmatic hydrothermal breccias as shown in Figure 4 host multiple phases of porphyry clasts, as well
as refractory quartz-chalcopyrite-pyrite vein fragments, with abundant quartz-magnetite.
• Figure 5 shows multiple phases of overprinting quartz stockwork veining.
• Inboard from magmatic breccias, vein related mineralization at West Goodspeed occurs as early banded quartz-
magnetite +/- chalcopyrite veins, early quartz-chalcopyrite centerline veins (as shown in figure 6), and late
magnetite-chalcopyrite +/- chlorite (after biotite) veinlets.
• Locally an intense late quartz-sericite-pyrite overprint supplies another phase of copper mineralization. The
alteration and mineralization relationships are consistent with those observed at Island Copper.
There appears to be a correlation between increased veining and increased copper grades, which is consistent with most
other porphyry Cu-Au deposits. This relationship suggests conventional vein density and alteration vectoring can be used
to target at West Goodspeed. Copper equivalent grades appear to correlate best with increased stockwork vein
abundance and increased iron-metasomatism as seen in GS24-10.
GS24-15 intersected three zones of mineralization, bound by two post mineral faults as shown in figure 3. Mineralization
at the top of the hole occurred in a texturally obliterated feldspar porphyry with an intense copper additive quartz-
sericite-pyrite overprint. Mineralization at depth was hosted in a chlorite-magnetite altered porphyry with local
undulous quartz-sulphide veins. This transitioned to patchy, but intense albite alteration (Figure 8) variably over printed
by texturally destructive sericite-illite alteration. The juxtaposition of deep level and high level alteration is indicative of
potentially intense telescoping at West Goodspeed.
Holes GS24-11, GS24-12 and GS24-13 tested the far-field down-dip extents of the two bounding faults. In all instances,
truncated intervals of hornblende-feldspar-quartz porphyry with associated marginal magmatic-hydrothermal breccias
occur at depth which hosted strong copper mineralization. GS24-13 also intersected thin intervals of intense silicious
hydrothermal brecciation overprinted by illite adjacent to thin hornblende-feldspar-quartz porphyries which hosted an
increase in copper and gold grade, as shown in Figure 7.
Mineralized zones in all three holes were bounded by brittle-ductile faults with abrupt alteration changes across their
boundaries. The faulted nature of the contacts, and the similarities between the Goodspeed outcrop and the quartz-
magnetite, quartz-sulphide stockwork veined intrusive bodies intersected at depth show encouraging structural
complexities that require further investigation along trend in this coalesced intrusive system.
The next phase of drilling at West Goodspeed is being planned for 2025, with the objective of defining the extents of
mineralization in the area to the north of West Goodspeed and east of the Red Dog deposit as well as along strike
southeast of West Goodspeed, utilizing the above-described vectors. Additional drilling will be carried out exploring the
potential for further mineralization in the hanging wall and foot wall of the two faults structurally bounding the West
Goodspeed Zone to search for mineralization offset by these faults. Once this work is carried out the objective will be to
carry out infill drilling to define a mineral resource at West Goodspeed.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Figure 4: Comparison of West Goodspeed to Island Copper Mineralization
Upper: GS24-12 HQ Core 318.5-318.65m grading 0.196 g/t Au and 0.13% Cu.
Lower: Examples of marginal (milled) breccia at Island Copper, from Parello et al., 1996.
Note the similarities to West Goodspeed marginal breccias, including clast boundaries, speciation, as well as similar
alteration (quartz magnetite alteration overprinted by quartz-sericite-pyrite). The marginal breccias at the Island Copper
deposit often occur adjacent to the high -grade mineralized shell at depth, and decrease in volume with depth, providing
a potential vector for mineralization at West Goodspeed following the Island Copper model. Note also the refractory veins
hosted in the marginal breccia at Island Copper.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni St. | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Figure 5: GS24-12 HQ Core 288.15-288.3m grading 0.15% Cu
Figure 6: GS24-13 NQ Core 258.4-258.6m grading 0.39, 0.31% Cu
Figure 7: GS24-13 NQ Core 278.8-279.0m grading 0.61g/t Au, and 0.4% Cu