Northisle Updates on Fall 2022 Surface Exploration Program
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni Street | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
November 1, 2022
TSX Venture Exchange Symbol: NCX
Northisle Updates on Fall 2022 Surface Exploration Program
Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX -V: NCX) (“Northisle” or the “Company”) is pleased to announce
that it has commenced a surface exploration program on the North Island Project (the “Project”). The program covers
the Pemberton Hills and Northwest Expo targets, as well as the Red Dog deposit and adjacent Goodspeed target. In
addition, Northisle has identified a new target area identified as Downward Dog which has been added to the survey .
The program is now underway with completion targeted for December 2022 and results available during the first quarter
of 2023.
Sam Lee, President and CEO of Northisle commented, “Our fall surface exploration programs are intended to target the
highest potential opportunities across our camp-scale property including Pemberton Hills, Northwest Expo, Red Dog and
Goodspeed. The program is anticipated to generate drill targets from both near surface and deeper opportunities all
within very close proximity to the existing deposits on the North Island Project. Our goal through our surface exploration
program is to add value through enhancing existing targets as well as identifying new targets and we are well capitalized
to pursue these programs.”
Details of Fall 2022 Exploration Programs
The Company’s fall surface exploration program includes a mapping and sampling program at several new and existing
targets on the North Island Project. In addition, Simcoe Geoscience is now on site and has commenced the previously
described ground-based Alpha IP® wireless induced polarization and magnet ometer surveys at Pemberton Hills,
Northwest Expo, Red Dog and Goodspeed, as announced earlier in 2022. The survey commenced at Pemberton Hills on
October 20 and is anticipated to take approximately 40 days, with results available in Q1 2023.
Figure 1: North Island Project Deposits and Targets
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni Street | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Pemberton Hills
At Pemberton Hills (see Figure 2), the geophysical survey will be along 23.6 line -kilometres covering an area of 3km by
4km northeast of a 6.5km by 1.5km lithocap interpreted to be tilted to the southwest. Clay mineral analyses in drill core
and at surface, as well as pyrite vectoring indicate that the hydrothermal flow source that created this extensive lithocap
is to the northeast under the area that will be surveyed.
Figure 2: Pemberton Hills Geophysical Survey
Northwest Expo
At Northwest Expo (see Figure 3), the geophysical survey will total 11.3 line-kilometres covering an area of 2.6km by 1km
northeast of the Zone 1 area where Northisle carried out drilling in 2021 and where Northisle intersected 84.8m grading
0.19% Cu and 0.92g/t Au , and historical drilling intersected several additional significant intervals of mineralization as
further detailed in Northisle’s January 25, 2022 press release. These drill holes in Zone 1 outline an area of copper-gold
porphyry mineralization 480 m by 360m by 86 m thick, which is planned for a resource definition drilling program,
anticipated during H1 2023.
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni Street | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Figure 3: Northwest Expo 2023 Geophysical Survey
The geophysical survey will cover the existing gold-rich Zone 1 as well as the area northeast of this zone, including an
area where historical drill hole EC -236 intersected 158.4m grading 0.12% Cu, 0.09g/t Au and EC -242 intersected 91.5m
grading 0.18% Cu an d 0.15g/t Au. Other holes in the area failed to penetrate overburden. It is hypothesized that the
porphyry system which created the mineralization found in Zone 1 may be found in this area, referred to as Zone 3.
Red Dog and Goodspeed
At Red Dog and Goodspeed, a geophysical survey totalling 12.7 line-kilometres will be carried out over an area of 3,000m
by 700m from the Red Dog deposit (see Figure 4) extending east 1,500m to Goodspeed, where a stockwork of chlorite-
magnetite alteration (CMG) occurs at surface (see Figure 5), and four historic, shallow drill holes intersected significant
copper mineralization (see Table 1).
Recent structural mapping at Goodspeed has outlined a large area of silica -clay-pyrite (SCP) alteration with a 500m by
350m core of CMG alteration containing quartz -magnetite veining and minor chalcopyrite-bornite. The CMG alteration
and copper mineralization is analogous to o ther known occurrences in the area, and historical drilling in the 1960 and
1990s intersected encouraging copper values.
Table 1: Goodspeed Drill Holes with >0.1% Copper
DDH Intercept (m) Copper (%)
EC-119 24.0 0.320%
EC-194 22.4 0.135%
EC-195 27.0 0.188%
EC-197 24.0 0.192%
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni Street | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Figure 4: Red Dog and Goodspeed 2023 Geophysical Survey
Figure 5: Goodspeed Outcrop on Road with CMG Alteration and Copper Mineralization
Porphyry-related
stockwork B-veins with
minor chalcopyrite in
chlorite-magnetite
alteration
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni Street | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
Downward Dog
During analysis of historic IP geophysics and soil geochemistry it was observed that north and northwest of the Red Dog
Deposit (see Figure 6) the south and southeast limit of a previous IP survey indicated >17.5 mV/V chargeability anomalies
at 40m and 100m depths. A 2005 soil geochemistry survey in this area of no outcrop was foun d to exhibit coincident
anomalies (95th percentile) of >128ppm Cu, >87ppb Au, >34ppm Mo with a peripheral anomalous zone of >194ppm Zn.
Figure 6: Downward Dog 2012 IP Anomaly, 2005 Soil Geochem Anomaly, 2022 IP / Mag Lines
This geochemical pattern of coincident Cu, Au, Mo and peripheral Zn anomalies is commonly seen in mineralized
porphyry areas. The coincident geochemical anomalies are not thought to be caused by drainage from the Red Dog
Deposit as this area is separated from the Red Dog Deposit by a ridge of barren diorite and the streams from Red Dog do
not drain in this direction. An IP survey will be carried out to the south of the previous survey to fill in the gap between
the two historic IP chargeability anomalies. If these are found to be connected a drill program may be recommended. This
prospective area is now called the Downward Dog target.
Qualified Person
Robin Tolbert, P.Geo., Vice President Exploration of Northisle and a Qualified Person as defined by National Instrument
43-101 – Standards of Disclosure for Mineral Projects, 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 Canada’s leading 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
Northisle Copper and Gold Inc. | 1200 – 1166 Alberni Street | Vancouver, BC | V6E 3Z3
www.northisle.ca | [email protected]
more than 34,000-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 completed an updated preliminary economic
assessment for the North Island Project in 2021 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: (604) 638-2515
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 outcome of exploration programs as well as any other future plans, objectives o r
expectations of Northisle. 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 as sociated with general economic 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 favourable 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.
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.