Northwest Copper Reports Multiple Long Intersections from Step Out Drilling at Kwanika Central Zone - Results Extend Mineralization North of Block Model.
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News Release
NORTHWEST COPPER REPORTS MULTIPLE LONG INTERSECTIONS FROM STEP
OUT DRILLING AT KWANIKA CENTRAL ZONE - RESULTS EXTEND
MINERALIZATION NORTH OF BLOCK MODEL.
Vancouver, BC – February 15th, 2023 – NorthWest Copper (“NorthWest” or “the Company”) (TSX-
V: NWST) (OTCQX: NWCCF) is pleased to announce the final result s from the 2022 drilling
campaign in the Central Zone 1 at Kwanika. Hole 22-248 expands the footprint of copper -gold
mineralization north of the resource pit from the recent PEA 2. The hole encountered two long
intercepts over its 1,118 metre length - a 449.25 metre interval and a 367.60 metre interval, both
containing strong copper and gold mineralization in an area of low drilling density (Figures 1&2).
The hole also encountered trace amounts of very fine grained chalcocite indicated by visual
logging as deep as 1,025 metres downhole. In certain other areas of the Kwanika Central Zone
deposit chalcocite is associated with strong copper-gold mineralization. K-22-248 is the final hole
from Kwanika Central for 2022 , however there are assays pending from an additional six drill
holes from the Kwanika South Zone. None of these holes were included in the recent PEA.
Highlights from K-22-248 include:
• K-22-248: Two long intersections:
o 449.25 metres3 of 0.23% CuEq4 from 222.05 metres, and
o 367.60 metres of 0.21 % CuEq from 750.40 metres.
The 2022 drill program at Kwanika was designed to test for high -grade zones within the known
mineralization and to expand the footprint of copper and gold. Hole K -22-248 expands
mineralization to the north as shown in figures 1 and 2. This is our last hole from Kwanika Central
from the 2022 program and we have 6 holes from Kwanika South with pending results. We have
released a total of 24 of the 30 holes drilled at Kwanika in 2022.
“K-22-248 identified two thick copper -gold zones in a sparsely drilled area to the north of
Kwanika, providing both potential for resource growth and opport unity for new targets” said
President and CEO Peter Bell. “The presence of chalcocite at depth in the hole is also intriguing
given its association with high-grades elsewhere at Kwanika.”
1 Please see NorthWest Copper news release dated January 5, 2023 available on our website www.northwestcopper.ca and SEDAR www.sedar.com
2 Please see NorthWest Copper news release dated January 5, 2023 available on our website www.northwestcopper.ca and SEDAR www.sedar.com
3 True widths of the reported mineralized intervals have not been determined.
4 Assumptions used in USD for the copper equival ent 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)
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Drill Results Discussion
K-22-248
The upper part of this hole tested the potential north of the Central Zone at Kwanika, and at
depth it evaluated extensions of the current resource. The hole intersected two long mineralized
intervals of 449.25 metres of 0.23% CuEq and 367.60 metres 0.21 % CuEq, (Figure 2). This hole
confirmed the presence of mineralization outside of the current block model 5. Changes in
alteration style and intensity in the hole suggest potential for mineralization to extend below the
Central Zone as it is currently modelled.
The drill passed through 34.50 metres of overburden and then entered a zone of strong faulting
in monzodiorite and brecciated monzodiorite to 144.40 metres down hole. This was followed by
an interval with multiple faults in post-hydrothermal clastic sedimentary rocks. An unconformity
at 222.05 metres separates the sedimentary rocks from underlying mineralized diorite with weak
propylitic alteration . Mineralization throughout the hole is dominated by chalcopyrite, locally
with traces of bornite and chalcocite . The style of mineralization varies from vein -hosted to
disseminated with the proportion in veins increasing down hole. Alteration to 960 .00 metres
down hole is predominately propylitic with varying amounts of chlorite and epidote. Potassic
alteration in the envelopes to quartz veins is locally present and increases significantly down hole.
Pervasive potassic alteration of moderate intensity predominates from 960.00 metres to the end
of hole at 1,118.00 metres. Visual logging shows l ocal zones that contain trace chalcocite at
911.65, 950.00, 1,021.20 and 1,025.40 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-22-248 222.05 671.30 449.25 0.15 0.15 1.1 0.23
also. 750.40 1118.00 367.60 0.14 0.13 0.9 0.21
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
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 pr ices 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)
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(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 wer e 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 overlimi ts were finalized with Fusion/ICP -
OES method.
Technical aspects of this news release have been reviewed, verified, and approved by Tyler
Caswell, P.Geo., Principal Geologist of NorthWest, who is a qualified person as defined by
National Instrument 43-101 – Standards of Disclosure for Minerals Projects.
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Figure 1: Plan View
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Figure 2: K-22-248 Cross Section
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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 60.00 198.30 138.3 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
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
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% 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)
10 K-22-242 was originally drilled as K-22-242a and abandoned before it reached target depth, then redrilled at K-22-242.
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Hole From
(m) To (m) Interval
(m)8 Cu (PCT) Au (g/t) Ag (g/t) CuEq (PCT)9
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
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-22-248 222.05 671.30 449.25 0.15 0.15 1.1 0.23
also. 750.40 1118.00 367.60 0.14 0.13 0.9 0.21
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
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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 release. 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”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (includ ing
negative variations) of such words and phrases, or state th at certain actions, events or results “may”, “could”, “would”, “might”
or “will” be taken, 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 o ther things, to statements with respect to: the development,
operational and economic results 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 plans; 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 factors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward -looking
information are subject to business and economic risks and uncertaint ies 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 r isks associated with the business of NorthWest; risks related
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 mi ning 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 uncerta inty
as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty
of meeting anticipated program 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 securities
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.