Northwest Copper Reports 400 Metres of 1.01% Copper Equivalent at Kwanika, Including GOLD-Rich Zone of 151 Metres of 1.55 G/T GOLD
News Release
NORTHWEST COPPER REPORTS 400 METRES OF 1.01% COPPER EQUIVALENT AT
KWANIKA, INCLUDING GOLD-RICH ZONE OF 151 METRES OF 1.55 G/T GOLD
Vancouver, BC – January 16, 2023 – NorthWest Copper (“NorthWest” or “the Company”) (TSX-V:
NWST) (OTCQX: NWCCF) is pleased to announce additional results from the 2022 Kwanika drilling
program. K-22-255 has returned one of the longest and highest-grade copper-gold intervals ever
completed at Kwanika. It was collared approximately 120 metres from hole K-21-2171 and tested
a similar area of the deposit. K -21-217 encountered 235.45 metres of 2.6 5% copper equivalent
(“CuEq”)2. Importantly, this hole is characterized by a thick interval of strongly enriched gold
grades within the copper zone (Figure 1 and Figure 2). The bottom of the hole remains in copper
and gold mineralization suggesting that the system potentially continues. Results in this release
were not included in the PEA 3. NorthWest still has seven holes with outstanding assays at
Kwanika from the 2022 program. Highlights from assays include:
• K-22-255: 399.80 metres4 at 1.01% CuEq from 152.20 metres:
o Including 23.40 metres at 2.51% CuEq from 152.60 metres
o Including 151.00 metres of 1.55 g/t Au from 363.00 metres
o Also including 64.00 metres at 2.12% CuEq from 374.80 metres
o Also including 22.50 metres at 2.67% CuEq from 416.30 metres.
“Hole K-22-255 highlights the strength of the mineralizing system at Kwanika Central, with a very
long interval averaging 1% copper equivalent, and multiple higher -grade copper-gold zones
within it” said President and CEO Peter Bell. “The hole shows a typical Kwanika pattern of copper
dominant material higher in the hole then becoming much richer in gold at depth. Gold
represents approximately 35% of annual revenue in the recent PEA at Kwanika-Stardust and K-
22-255 demonstrates the strength of the gold system within the strong, continuous copper
mineralization.”
Drill Results Discussion
We have now released results from 23 of the 30 drill holes completed at Kwanika in 2022. There
is one hole remaining from the Kwanika Central Zone and six holes that were drilled at the
Kwanika South Zone that are pending assay results. The 2022 Kwanika program was designed to
expand the footprint of mineralization and to search for higher grade zones within the deposit.
1 Please see NorthWest Copper news release dated October 27, 2021 available on our website www.northwestcopper.ca and SEDAR www.sedar.com.
2 Assumptions used in USD for the copper equivalent calculation (CuEq) were metal prices of $3.50/lb. Copper, $1,650/oz Gold, $ 21.50/oz Silver, and
recovery is assumed to be 86.0% for copper, 63.5% for gold and 61.6% fo r silver. The following equation was used to calculate copper equivalence:
CuEq = Copper (%) + (Gold (g/t) x 0.5078) + (Silver (g/t) x 0.0064)
3 Please see NorthWest Copper news release dated January 5, 2023 available on our website www.northwestcopper.ca and SEDAR www.sedar.com.
4 True widths of the reported mineralized intervals have not been determined .
K-22-255 delineates multiple high-grade copper and gold zones within a long interval, including
some very strong gold assays. More detailed results are presented below.
K-22-255
This hole intersected 399.80 metres at 1.01% CuEq, including three higher grade intersections of
23.40 metres at 2.51% CuEq, 64.00 metres at 2.12% CuEq which includes 22.50 metres at 2.67%
CuEq from 152.60 metres, 374.80 metres and 416.30 metres depth downhole respectively (
Figure 2). A strong gold interval of 151.00 metres of 1.55 g/t gold occurs within the overall
copper-gold zone. K-22-255 was designed to test for high grade mineralization within the core of
the proposed block cave 5 as well as collecting information on the controls of the high-grade
mineralization and metal/geochemical information to better characterize the system.
The drill passed through overburden to 33.60 metres depth, this was followed by moderately
propylitic altered diorite with trace chalcopyrite mineralization occurring in veins more than
disseminations to 152.20 metres. It then passed through a 40-centimeter fault zone. After, and
in, the fault, mineralization increases substantially as this is the start of the reported interval.
The drill continued in a diorite with weak pervasive potassic alteration overprinting strong
pervasive early biotite alteration to 294.00 metres. Mineralization in this interval is dominated
by disseminated chalcopyrite with some episodic zones of trace chalcocite accompanying the
sulphides from 176.00 to 216.70 metres. At 294.00 metres there is another fault zone , at this
contact the mineralized host rock changes to monzonite with moderate to strong potassic
alteration and abundant chalcopyrite mineralization in quartz sulphide veins hosting the majority
of the mineralization. This zone continues to 516.00 metres and is cut locally by syn/post mineral
lower grade dykes locally. From 516.00 metres depth, the alteration starts to wain and with
accompanying lower grade mineralization within a monzodiorite to the end of the hole at 552.00
metres.
Table 1: Drill Results From This News Release
Hole From(m) To(m) Interval (m)6 Cu (PCT) Au (g/t)
Ag
(g/t)
CuEq7
(PCT)
K-22-255 152.20 552.00 399.80 0.62 0.74 2.0 1.01
incl. 152.60 176.00 23.40 2.12 0.70 6.2 2.51
incl. 363.00 514.00 151.00 0.70 1.55 2.2 1.50
also incl. 374.80 438.80 64.00 1.00 2.17 2.9 2.12
also incl. 416.30 438.80 22.50 1.15 2.95 3.6 2.67
5 Please see NorthWest Copper news release dated January 5, 2023 available on our website www.northwestcopper.ca and SEDAR www.sedar.com.
6 True widths of the reported mineralized intervals have not been determined
7 Assumptions used in USD for the copper equivalent calculation (CuEq) were metal prices of $3.50/lb. Copper, $1,650/oz Gold, $ 21.50/oz Silver, and
recovery is assumed to be 86.0% for copper, 63.5% for gold and 61.6% for silver. The following equation was used to calculate copper equivalence: CuEq
= Copper (%) + (Gold (g/t) x 0.5078) + (Silver (g/t) x 0.0064)
Quality Assurance / Quality Control
Drilling completed at Kwanika in 2022 was supervised by on -site NorthWest personnel who
collected and tracked samples and implemented a full QA/QC program using blanks, standards
and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and
shipped to Bureau Veritas (BV) in Vancouver BC and to AGAT Laboratories (AGAT) in Calgary AB.
BV’s quality control system complies with global certifications for Quality ISO9001:2008. Core
samples were analyzed using a combination of BV’s MA200 process for low level concentrations
(ICP-MS/4 Acid digestion) and the MA370 process for higher level concentrations (ICP -ES/4 acid
digestion). Gold assaying was completed with FA430, a 30 -gram fire assay with AAS finish. Base
metal overlimits were finalized with titration where required, with gold overlimits completed
with a gravimetric finish. AGAT’s quality control system complies with global certifications for
Quality ISO 9001:2015. Core samples were analyzed using a combination of AGAT’s 201 -071
process for low level concentrations (ICP-MS/4 Acid digestion) and the 201-079 process for higher
level concentrations (Sodium Peroxide Fusion/ICP-OES). Gold assaying was completed with 202-
055, a 30 -gram fire assay with ICP finish . Base metal overlimits were finalized with Fusion/ICP -
OES method.
Technical aspects of this news release have been reviewed, verified, and approved by Tyler
Caswell, P.Geo., Vice President Exploration of NorthWest, who is a qualified person as defined by
National Instrument 43-101 – Standards of Disclosure for Minerals Projects.
Figure 1: Plan View
Figure 2: 255 Cross Section
Table 2: Complete 2022 Drilling Results for Kwanika
Hole From (m) To (m) Interval (m)8 Cu (PCT) Au (g/t) Ag (g/t) CuEq (PCT)9
K-22-227 87.60 110.25 22.65 0.46 0.18 1.5 0.56
K-22-228 60.00 198.30 138.30 0.33 0.13 1.0 0.40
incl. 111.30 154.45 43.15 0.56 0.21 1.6 0.67
incl. incl. 135.30 154.45 19.15 0.80 0.27 2.1 0.95
8 True widths of the reported mineralized intervals have not been determined
9 Assumptions used in USD for the copper equivalent calculation (CuEq) were metal prices of $3.50/lb. Copper, $1,650/oz Gold, $ 21.50/oz Silver, and
recovery is assumed to be 86.0% for copper, 63.5% for gold and 61.6% for silver. The following equation was used to calculate copper equivalence:
CuEq = Copper (%) + (Gold (g/t) x 0.5078) + (Silver (g/t) x 0.0064)
Hole From (m) To (m) Interval (m)8 Cu (PCT) Au (g/t) Ag (g/t) CuEq (PCT)9
K-22-229 32.35 143.45 111.10 0.51 0.15 1.2 0.59
Incl. 73.95 93.95 20.00 0.78 0.36 2.3 0.98
Incl. 107.75 123.45 15.70 1.15 0.07 1.3 1.19
K-22-230 19.20 398.00 378.80 0.37 0.33 1.2 0.55
Incl. 78.45 140.80 62.35 0.62 0.34 1.9 0.80
Incl. 251.60 339.20 87.60 0.45 0.79 1.5 0.86
K-22-231 30.00 167.90 137.90 0.58 0.28 3.0 0.75
incl. 30.00 77.80 47.80 0.74 0.32 5.3 0.94
also incl. 142.10 166.50 24.40 0.96 0.56 2.9 1.27
K-22-232 27.00 136.05 109.05 0.62 0.33 3.0 0.81
incl. 27.00 59.90 32.90 1.20 0.85 7.1 1.68
incl. incl. 34.50 35.95 1.45 9.35 6.65 44.1 13.01
K-22-233 30.00 132.90 102.90 0.80 0.26 1.9 0.94
incl. 30.00 65.10 35.10 1.24 0.39 3.0 1.46
incl. incl. 30.00 32.00 2.00 3.41 0.83 5.6 3.87
K-22-234 58.90 145.90 87.00 0.27 0.21 1.1 0.39
also incl. 208.80 296.50 87.70 0.47 0.68 1.5 0.82
incl. 244.80 268.75 23.95 1.06 1.93 3.7 2.06
K-22-235 41.00 214.00 173.00 0.22 0.21 0.8 0.33
K-22-236 49.90 229.50 179.60 0.21 0.21 0.6 0.32
Incl. 107.40 178.45 71.05 0.28 0.29 0.8 0.43
K-22-237 27.80 392.00 364.20 0.17 0.17 0.8 0.26
incl. 117.85 283.00 165.15 0.21 0.26 0.9 0.34
incl. incl. 229.30 253.85 24.55 0.38 0.83 1.3 0.81
K-22-238 33.55 201.40 167.85 0.21 0.18 0.7 0.31
K-22-239 45.00 267.00 222.00 0.19 0.21 0.6 0.30
K-22-240 No Significant Result
K-22-241 33.00 338.75 305.75 0.18 0.17 0.9 0.27
K-22-24210 339.30 643.50 304.20 0.47 0.53 1.7 0.75
Incl. 412.10 566.80 154.70 0.65 0.87 2.3 1.10
Incl. incl. 412.10 448.80 36.70 0.87 2.07 2.8 1.94
also incl. 466.00 488.80 22.80 0.69 1.25 3.2 1.35
K-22-243 81.35 143.50 62.15 0.22 0.13 0.8 0.30
also incl. 210.50 329.00 118.50 0.17 0.24 0.6 0.29
K-22-244 59.00 128.80 69.80 0.10 0.13 0.6 0.17
also incl. 197.40 284.00 86.60 0.22 0.15 0.6 0.30
10 K-22-242 was originally drilled as K-22-242a and abandoned before it reached target depth, then redrilled at K-22-242.
Hole From (m) To (m) Interval (m)8 Cu (PCT) Au (g/t) Ag (g/t) CuEq (PCT)9
K-22-245 44.00 68.00 24.00 0.23 0.11 0.8 0.29
also incl. 221.40 287.00 65.60 0.18 0.17 0.5 0.27
K-22-246 47.80 193.50 145.70 0.13 0.11 0.5 0.19
incl 122.90 187.50 64.60 0.20 0.13 0.7 0.27
K-22-247 No Significant Result
K-22-248 Pending - Central Zone
K-22-249 Pending - South Zone
K-22-250 Pending - South Zone
K-22-251 Pending - South Zone
K-22-252 Pending - South Zone
K-22-253 Pending - South Zone
K-22-254 Pending - South Zone
K-22-255 152.20 552.00 399.80 0.62 0.74 2.0 1.01
incl. 152.60 176.00 23.40 2.12 0.70 6.2 2.51
incl. 363.00 514.00 151.00 0.70 1.55 2.2 1.50
also incl. 374.80 438.80 64.00 1.00 2.17 2.9 2.12
also incl. 416.30 438.80 22.50 1.15 2.95 3.6 2.67
About NorthWest Copper:
NorthWest Copper is a new copper -gold explorer and developer with an exciting pipeline of
projects in British Columbia. With a robust portfolio in a tier one jurisdiction, NorthWest Copper
is well positioned to participate fully in a strengthening global copper market. We are committed
to responsible mineral exploration which involves working collaboratively with First Nations to
ensure future development incorporates stewardship best practices and traditional land use.
Additional information can be found on the Company’s website at www.northwestcopper.ca.
On Behalf of the Board of Directors of NorthWest Copper Corp.
“Peter Bell”
Director, President and CEO
For further information, please contact:
Peter Lekich, Director Investor Relations
Tel: 604-697-4962
Email: [email protected]
Neither 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 release.
Cautionary Statement Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable securities laws. All statements, other
than statements of historical fact, are forward -looking statements and are based on expectations, estimates and projections as
at the date of this news re lease. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”,
“is expected”, “bud get”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including
negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “mi ght”
or “will” be tak en, occur or be achieved) are not statements of historical fact and may be forward -looking statements. . In this
news release, forward -looking statements relate, among other things, to statements with respect to: the development,
operational and economic r esults of the 2023 PEA; the Company’s goals for 2022 and 2023; geological interpretations; the
estimation of Mineral Resources; magnitude or quality of mineral deposits; anticipated advancement of mineral properties or
programs; future operations; mine pla ns; future exploration prospects; future growth potential of NorthWest; and future
development plans.
All statements, other than statements of historical fact, included herein, constitutes forward -looking information. Although
NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue
reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will
prove to be correct. Forward -looking information involves known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks,
uncertainties and other fact ors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward -looking
information are subject to business and economic risks and uncertainties and other factors that could cause actual results of
operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual
results to differ materially from NorthWest’s expectations include risks associated with the business of NorthWest; risks rel ated
to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the
Company’s mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity
prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade
of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development
of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty
as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty
of meeting anticipated p rogram milestones; uncertainty as to timely availability of permits and other governmental approvals;
and other risk factors as detailed from time to time and additional risks identified in NorthWest’s filings with Canadian sec urities
regulators on SEDAR in Canada (available at www.sedar.com ).
Forward-looking information is based on estimates and opinions of management at the date the information are made.
NorthWest does not undertake any obligation to update forward -looking information except as required by applicable securities
laws. Investors should not place undue reliance on forward-looking information.