Northisle Extends Hushamu IP Anomaly for Two Kilometres
Could Indicate an Extension of the Known Deposit
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/23/12 -- Northisle Copper and Gold Inc. (TSX VENTURE: NCX) ("Northisle" or the "Company") is pleased to announce that the Induced Polarization Survey (IP Survey) carried out northwest of the Hushamu Deposit extended the chargeability anomaly associated with the deposit for a distance of 2 kilometres along the projected trend of the deposit.
The anomaly, as defined by greater than 3 times background (greater than 15mV/V), is at least 800 metres wide and remains open to the southwest on all but one line. The anomaly occurs between the Hushamu deposit and the Hep Occurrence in an area of generally subdued relief with sparse rock outcroppings. The Hep Occurrence was last drilled in the early 1990s and contains narrow zones of copper mineralization. Except in the immediate vicinity of the Hushamu deposit there has been no drilling in the newly located IP anomaly.
The recently completed IP survey also detected two IP anomalies in the NW Expo area of the property. One anomaly is a least 600 metres wide and is open to the south and east. The only reported drilling in this anomaly was a single hole that was abandoned before reaching bedrock. The other anomaly lies immediately east of the NW Expo molybdenum and gold. The anomaly adjacent to the NW Expo showing was traced easterly for 1 kilometre and is open to the north. Three holes drilled in the central part of the anomaly intersected alteration similar to that at the Hushamu deposit with one hole having copper values in the 100 to 500 ppm range over a 200 metre interval.
Jack McClintock, President and CEO of Northisle, commented, "The discovery of a large untested IP anomaly lying on trend with the Hushamu Deposit is very promising for the discovery of an extension to the known deposit or for a satellite deposit lying between the Hep occurrence and Hushamu Deposit. Drilling of this IP target is a high priority."
Stock Options
The Board of Directors has approved the granting of stock options to employees for the purchase of 75,000 common shares exercisable at $.30 per common share. The options have a five-year term and will vest over a two-year period.
About Northisle
Northisle is a Vancouver-based junior resource company committed to the exploration and development of the North Island Project on Northern Vancouver Island. The North Island Project is situated approximately 15-40 kilometres southwest of Port Hardy and contains the Hushamu Deposit and five other partially-explored copper-gold porphyry occurrences.
Jack McClintock, P.Eng, is the qualified person responsible for the technical content of this press release.
For more information on Northisle and the Hushamu Deposit, please visit the Company's website at .
To view the map associated with this news release, please click the following link: .
On behalf of Northisle Copper and Gold Inc.,
John McClintock, President, CEO and Director
This press release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.
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.
Contacts:
Northisle Copper and Gold Inc.
John McClintock
President, CEO and Director
604.638.2515
604.669.2926 (FAX)
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Datum: 23.05.2012 - 13:00 Uhr
Sprache: Deutsch
News-ID 149359
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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