VANCOUVER, British Columbia, March 25, 2025 (GLOBE NEWSWIRE) -- NorthWest Copper (“NorthWest” or the “Company”) (TSX-V: NWST) announces Geoff Chinn, VP Business Development and Exploration has begun the process to execute on the Company’s plan to enhance the value of the existing PEA1 on its 100% owned Kwanika-Stardust project.
The Company’s plans for 2025 are to execute its strategy to enhance the value of the PEA at Kwanika-Stardust through a phased development approach by: i) targeting higher grade sub-domains within the current mineralization at Kwanika, ii) targeting near surface drill-ready exploration opportunities proximal to the existing Kwanika mineral resource, and iii) considering a hub and spoke development scenario for additional mineral resources, including the Kwanika South and Lorraine mineral resources2,3. The Company’s 2025 strategy is set out in the corporate presentation located on the Company’s website at www.northwestcopper.ca.
CEO Paul Olmsted stated, “A phased approach to development will likely provide investors with a more economic alternative to the development approach presented in the current PEA on the Kwanika-Stardust project. This staged approach would see an initial phase focussing on higher-grade copper and gold domains at Kwanika. Combining this new approach at Kwanika with the Stardust project, it has the potential to enhance the economics of the current PEA with higher-grades, and lower capital costs during the initial phase of development. Copper and gold prices used to estimate Mineral Resources in the PEA have increased significantly, by 43% and 84% respectively relative to current spot prices4. Given these increases, and when combined with our new planned phased development approach, we believe updating the PEA is warranted and likely to yield significantly improved economics.”
Newly appointed VP Business Development and Exploration Geoff Chinn, P. Geo, stated, “Having reviewed the Mineral Resource at Kwanika, I see potential to refine the geology model by modelling and targeting higher-grade estimation sub-domains within Kwanika’s broad, lower-grade mineralization. Considering Kwanika’s underground Mineral Resource gold to copper ratio of 1.2: 1 (Au g/t: Cu %) our focus will be on targeting broad higher-grade gold-copper zones guided by a natural break in gold values at a 1 g/t threshold to better support the evaluation of more selective underground mining methods. I can also see moving away from defining estimation domains based on copper equivalent grades, which are complicated by later groundwater movements that have partially remobilized copper. Kwanika’s gold values, on the other hand, are likely more resilient and therefore a better indicator of original fluid pathways that emplaced gold-copper mineralization. Relying on gold values will also help us map potential extensions of the higher-grade zones. Copper equivalent grades from the PEA depended on metal price assumptions at the time, which have changed significantly since. Further to this, I can see an additional, parallel focus on developing a follow-up metallurgical test program looking at improving metal recoveries relative to the current PEA, particularly for gold, where average recoveries ranged from 60% for open pit material to 71% for underground material in the PEA mine plan5.”
The Company will provide additional updates on its progress in advancing the plan for the coming year.
Technical aspects of this news release have been reviewed, verified, and approved by Geoff Chinn, P.Geo., VP Business Development and Exploration of NorthWest, who is a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Minerals Projects.
About NorthWest Copper:
NorthWest Copper is a copper-gold exploration and development company with a pipeline of advanced and early-stage projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. 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 NorthWest Copper Corp. “Paul Olmsted” CEO, NorthWest Copper
For further information, please contact: 604-683-7790 info@northwestcopper.ca
Neither the TSXV 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 (including negative variations) of such words and phrases, or state that 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 other things, to statements with respect to; plans and intentions of the Company; proposed exploration and development of NorthWest’s exploration property interests; the Company’s ability to finance future operations; mine plans; magnitude or quality of mineral deposits; the development, operational and economic results of current and future potential economic studies; adding the Lorraine resource to the Kwanika-Stardust Project; the Company’s goals for 2025; geological interpretations; the estimation of Mineral Resources; anticipated advancement of mineral properties or programs; future exploration prospects; the completion and timing of technical reports; 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 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 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 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 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.sedarplus.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.
1 See NI 43-101 technical report titled “Kwanika-Stardust Project NI 43-101 Technical Report on Preliminary Economic Assessment” dated February 17, 2023, with an effective date of January 4, 2023, filed under the Company’s SEDAR+ profile at www.sedarplus.com. 2 See NI 43-101 technical report titled “Lorraine Copper-Gold Project NI 43-101 Report & Mineral Resource Estimate Omineca Mining Division, B.C”, dated September 12, 2022, with an effective date of June 30, 2022, filed under the Company’s SEDAR+ profile at www.sedarplus.com. 3 Further work is required, including metallurgical test work, transportation studies, general engineering and geological modeling before the Lorraine resource could be considered. 4 PEA mineral resources are estimated based on assumed prices of US$3.50/lb Cu, US$1,650/oz Au, US$21.50/oz Ag. 5 The PEA is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and the is no certainty that the 2023 PEA will be realized.
