Northisle Copper and Gold map photo

Northisle Copper and Gold map photo

Proponents see gleam of promise in North Island copper and gold mine

Northisle Copper and Gold expects to accelerate activities ‘significantly’

An ongoing project that could return mining to the forefront of the economy of northern Vancouver Island remains years from fruition.

But proponents say 2020 did a lot to bring them closer to their goal and 2021 is promising more of the same.

Northisle Copper and Gold owns the Red Dog and Hushamu deposits, part of a 33,149-hectare block of mineral titles that stretches 50 kilometres northwest from the now-closed Island Copper Mine, 10 kilometres south of Port Hardy.

Proponents have stated the North Island Project could potentially be on the same scale as the Island Copper Mine that shut down in Port Hardy in 1993, employing between 500 and 600 people, with the promise of even greater spinoffs.

RELATED: New report sparks run of new North Island mining claims

RELATED: ‘Latte-sipping urbanites’ need to realize value of mining in B.C., association head says

“The past few months have been an exciting time to be a Northisle shareholder,” Northisle CEO Sam Lee, said in a news release. “We have taken several significant steps in 2020 including strengthening our leadership team, raising funds to take us through the next several key milestones, and completing positive metallurgical studies at Red Dog and Hushamu.

“We have also worked to share the Northisle story with a larger group of investors and stakeholders and are encouraged by our conversations to date.”

Northisle expects an update to its 2017 Preliminary Economic Assessment (PEA) to be completed in the first quarter of 2021.

“We believe it will clearly demonstrate that the North Island Project is one of the premier copper development opportunities in the world,” said Lee, adding the project to date has exceeded expectations.

“We are developing an aggressive drill program in 2021 that looks at substantially increasing our resources at Red Dog and Hushamu, while targeting the high-level alteration lithocaps at the prospective Pemberton Hills target.”

Lee adds they expect to accelerate activities significantly.

“We are finalizing our plans for comprehensive engagement with Indigenous nations, communities and key project stakeholders, designing an exploration program targeted at several highly prospective areas of the property, and continuing to add breadth and depth to our team.”

He expects to initiate a Preliminary Feasibility Study, which could lead into a full feasibility study. And if that’s positive, it would go into a permitting stage, which takes two to three years and looks at the environmental impacts.

Northisle listed the following as among its 2020 achievements:

  • Expanding the board and executive team
  • closing an oversubscribed $3.2 million financing of common shares
  • completing key metallurgical studies on the North Island Project.
  • determining Red Dog copper and gold recovery estimate increased to 89.8 per cent and 53.0 per cent, respectively.
  • determining Hushamu copper and gold recovery estimate increased to as much as 87.9 per cent and 50.8 per cent, respectively.

For more news from Vancouver Island and beyond delivered daily into your inbox, please click here.


@NIGazette
editor@northislandgazette.com

Like us on Facebook and follow us on Twitter

Businessmining

Just Posted

Police are investigating after a man was killed at a home on Cowichan Lake Road early Monday morning. (Kevin Rothbauer/Citizen)
Police investigating early-morning murder in Duncan

One arrested after man killed at Cowichan Lake Road home

Island Health chief medical officer Dr. Richard Stanwick receives a first dose of Pfizer vaccine, Dec. 22, 2020. (B.C. government)
COVID-19: B.C. seniors aged 90+ can start to sign up for vaccination on March 8

Long-term care residents protected by shots already given

Firefighters from three departments battled a house fire south of Nanaimo for more than nine hours Sunday. (Photo courtesy Martin Leduc)
Home in Cedar destroyed by fire

Firefighters from three fire departments battle blaze fanned by strong winds Sunday

Police have identified the vehicle involved in the Feb. 14 hit-and-run in Chemainus and are continuing to investigate. (Black Press Media files)
Police seize and identify suspect vehicle in fatal Chemainus hit-and-run

Investigation expected to be lengthy and involved

Wildlife advocate Gary Schroyen captured this picture of a one-year-old cougar in the Sooke Hills using a homemade trip camera. Vancouver Island is home to approximately 800 cougars, which makes up about a quarter of the total population in B.C. (Gary Schroyen photo)
Wildlife advocate Gary Schroyen captured this picture of a one-year-old cougar in the Sooke Hill using a homemade trip camera. Schroyen presents Animal Signs: The Essence of Animal Communication on Nov. 30. (Gary Schroyen photo)
Declining Vancouver Island cougar populations linked to wolves

Large carnivore specialist says human development still plays biggest role on cougar numbers

Langley resident Carrie MacKay shared a video showing how stairs are a challenge after spending weeks in hospital battling COVID-19 (Special to Langley Advance Times)
VIDEO: Stairs a challenge for B.C. woman who chronicled COVID-19 battle

‘I can now walk for six (to) 10 minutes a day’

A cougar was spotted Monday near Queneesh Elementary. (WildSafe BC photo)
Cougar sighted Monday near Courtenay school

Public to avoid the wooded areas around Queneesh Elementary

The Save-On-Foods Memorial Centre has reopened with 45 shelter spots for people experiencing homelessness in Victoria. (Courtesy of Save-On-Foods Memorial Centre)
Save-On-Foods Memorial Centre shelter in Victoria reopens with spots for 45 people

Arena is an interim step until long-term housing is found

Visitors relax at the natural hot springs located within Maquinna Marine Provincial Park. (tofinohiking.com photo)
Maquinna Marine Provincial Park boardwalk project on track

“The walk down the two-kilometre boardwalk to the springs itself is by far one of the most incredible experiences.”

Provincial health officer Dr. Bonnie Henry updates B.C.’s coronavirus situation, May 8, 2020. (B.C. government photo)
B.C.’s weekend COVID-19 cases: 532 Saturday, 508 Sunday, 438 Monday

Fraser Health still has most, eight more coronavirus deaths

B.C. Attorney General David Eby speaks in the legislature, Dec. 7, 2020. Eby was given responsibility for housing after the October 2020 provincial election. (Hansard TV)
B.C. extends COVID-19 rent freeze again, to the end of 2021

‘Renoviction’ rules tightened, rent capped to inflation in 2022

Face mask hangs from a rear-view mirror. (Black Press image)
B.C. CDC unveils guide on how to carpool during the pandemic

Wearing masks, keeping windows open key to slowing the spread of COVID-19

Most Read