NorthWest Copper reports 41.7m at 1.13% CuEq at Kwanika
Four holes are the first results from a planned 12,000-metre Kwanika program; the project's preliminary economic assessment is delayed.
Mara Quinlan
NorthWest Copper Corp. CVENWST reported on Wednesday that hole K-26-303 cut 41.7 metres grading 1.13 per cent copper equivalent in the North Pit Extension at its Kwanika project in British Columbia. NorthWest said the hole extended higher-grade mineralization north and up-dip, with results now reported for four of roughly 40 planned holes.
Shares fell 1.75 per cent to C$0.28 on the TSX Venture Exchange at 4 p.m. EDT on Oct. 7, according to CVENWST.
The lead intercept began 72.6 metres downhole and included 0.40 per cent copper and 0.67 grams per tonne gold. Three other holes intersected 16.0 to 47.4 metres grading between 0.50 and 0.90 per cent copper equivalent.
The four holes were drilled on one North Pit Extension section, where spacing was cut to about 50 metres to strengthen geological confidence. NorthWest said its Kwanika-Stardust preliminary economic assessment has taken longer than expected because the distinct mining areas under review needed additional analysis.
"The relatively high gold to copper ratio we are seeing in the Pit Zone and North Pit Extension Zone is shifting some of our thinking on low-grade mineral processing," vice-president of business development and exploration Geoff Chinn said in the Oct. 7 release.
NorthWest said westward drilling along the section is helping it trace grade and geology across the deposit. The four holes have not yet been incorporated into an updated resource estimate.
NorthWest's March 2 resource estimate, effective Feb. 27, put Kwanika Central's open pit at 8.99 million indicated tonnes grading 0.98 per cent copper equivalent. The same estimate listed 9.18 million inferred tonnes at 0.63 per cent copper equivalent; both figures predate the new holes.
The headline length is an intersection along sampled drill core, rather than a stated true width. The company's geological description says hole K-26-312 infilled a higher-grade, gold-dominant unit but downgraded mineralization above that unit.
NorthWest's Aug. 11 update said crews had drilled more than 6,500 metres through July in a fully funded 10,000-metre campaign. The new plan calls for about 12,000 metres across roughly 40 holes with one rig active, an increase of about 2,000 metres over the August target.
Chief executive Paul Olmsted said NorthWest and its consultants are examining alternative mine sequences and processing approaches for the delayed assessment. The company plans to review the new assays for possible effects on that work, while Western Zone drilling is meant to inform an updated resource estimate.
The Oct. 7 release gave no revised completion date for the delayed assessment.
NorthWest expects drilling to continue through the end of the 2026 field season, with further assays from the North Pit Extension, Western and Pit zones in the coming weeks and months.
