Confirmation Of Copper And Gold Mineralization At West Goodspeed

VANCOUVER - Northisle Copper and Gold Inc. reported that all but one of the significant assays from the 2024 exploration program at West Goodspeed have now been received. Recent assays for GS24-15 confirm the presence of copper and gold mineralization over three intercepts in this hole collared approximately 210m northwest of GS24-10, extending mineralization at West Goodspeed over a strike of at least 1,000m from northwest to southeast. As a result of the positive results in GS24-15, Northisle recently drilled GS24-16 to test a further step out northwest at the West Goodspeed deposit, to test the area between West Goodspeed and Red Dog. GS24-16 intercepted intense quartz-magnetite, quartz-amphibole-biotite and quartz-chlorite-magnetite vein stockworks and parallel vein arrays hosting chalcopyrite-bornite mineralization. Assays from this hole are anticipated in Q4 2024.

Sam Lee, President and CEO, said, “Our strategy of stepping out from known, higher grade, mineralization at West Goodspeed has continued to expand the mineralized trend towards the Red Dog deposit as we have now defined mineralization over more than a kilometer of strike. As a result, we recently completed a final hole at West Goodspeed which has intercepted encouraging alteration in this undrilled area between the two deposits. The implication of potentially connecting West Goodspeed and Red Dog could be significant and we look forward to receiving the assay results from this final hole shortly.”

Assay results have now been received for nine of the ten drill holes completed during 2024 on the West Goodspeed target. These include GS24-06 (previously reported) to GS24-13 and GS24-15. GS24-14 was drilled to test a geophysical target located approximately 1km to the southwest of West Goodspeed. It intersected a series of volcanic rocks that had undergone extensive propylitic alteration, which may reflect the distal porphyry alteration footprint at West Goodspeed. GS24-14 is not anticipated to contain significant mineralization. All but two of the 2024 drill holes were oriented, and drilled from existing or reactivated forest service roads.

Field mapping during 2024 has confirmed the existence of late fault sets parallel to the major mineralization bounding faults as shown by the red dashed lines in Figure 1, which also shows the location of the drill collars for completed drill holes in a birds-eye view looking northeast towards West Goodspeed. Holes GS24-11 and GS24-12 were drilled south, oblique to the interpreted post-mineral faults in an effort to test mineralization at depth and confirm the orientation and continuity of the late mineralization off-setting faults. GS24-13 was drilled southwest, perpendicular to the interpreted fault to further test the orientation of this late structure, as well as the down-dip and along-strike continuity of the mineralization. Holes GS24-11 through GS24-13 were successful in testing for dislocated, re-mobilized mineralization associated with the post mineral faults, similar to the interpreted origins of the Goodspeed stockwork which outcrops approximately 1.2 km due east from GS24-10.

GS24-15 was drilled southwest and intersected three distinct mineralized zones, all bound by faults, and showed intensely telescoped alteration domains, highlighting the potential for a coalesced mineralized system.

GS24-16 was added to the program following receipt of previous assays and was drilled southwest towards the Red Dog deposit to test the continuity of mineralization in that direction. The bottom of this hole is only 200 metres from historic holes on the margin of the proposed Red Dog pit. It intercepted intense quartz-magnetite, quartz-amphibole-biotite and quartz-chlorite-magnetite vein stockworks and parallel vein arrays hosting chalcopyrite-bornite mineralization. This hole shows that additional drilling is warranted in the untested area between the Red Rog and West Goodspeed deposits. Assays for GS24-16 are anticipated in late 2024.

Additional drilling was completed at West Goodspeed to step out and define mineralization further to the northwest. GS24-16 was drilled northwest along strike from the GS24-15 pad to test the possible connectivity of West Goodspeed mineralization into the Red Dog area.