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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Victoria police are asking for help locating Izabel Villeneuve, 14, who was last seen Jan. 19. (Courtesy of Victoria Police Department)
Victoria police seek help locating missing 14-year-old

Izabel Villeneuve was last seen in the morning of Jan. 19

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the legislature, Jan. 11, 2021. (B.C. government)
Vancouver Island smashes COVID-19 high: 47 new cases in a day

Blowing past previous records, Vancouver Island is not matching B.C.s downward trend

Environment Canada is forecasting snow for the east Vancouver Island region the weekend of Jan. 23. (Black Press file)
Up to 15 cm of snow forecast for Vancouver Island this weekend

Snow on Malahat to begin Saturday night, according to Environment Canada

Jan. 21 marks the 21st day of the 21st year of the 21st century, according to some. (Black Press Media file photo)
The 21st day of the 21st year of the 21st century is upon us – maybe

Milestone won’t be back for another 100 years

Businesses continue to struggle under COVID-19 restrictions as the pandemic reaches the one-year mark. (B.C. government)
Another 564 COVID-19 cases, mass vaccine plan coming Friday

15 more deaths, community cluster declared in Williams Lake

Premier John Horgan leaves the podium following his first press conference of the year as he comments on various questions from the media in the Press Gallery at B.C. Legislature in Victoria, B.C., on Monday, January 13, 2020. THE CANADIAN PRESS/Chad Hipolito
Interprovincial travel restrictions a no-go, Horgan says after reviewing legal options

The B.C. NDP government sought legal advice as concerns of travel continue

Gem Lake Top, at Big White Ski Resort, seen at Jan. 8. (Big White Ski Resort)
Big White cancels $7.3M in lift tickets, accommodations due to COVID-19 orders

Since November, the ski resort has been forced to make several changes

Reader’s Lens
The surf’s up at Whiffin Spit. Joan Stiebel snapped this photo on a recent windy day in Sooke. To submit a photo to Reader’s Lens, please email editor@sookenewsmirror.com. (Contributed photo)
Reader’s Lens

Reader’s Lens The surf’s up at Whiffin Spit. Joan Stiebel snapped this… Continue reading

Darlene Curylo scratched a $3M ticket, BCLC’s largest ever scratch and win prize. (BCLC)
Kelowna woman in shock after winning BCLC’s largest-ever instant-ticket prize

Darlene Curylo couldn’t believe her eyes when she saw the amount of money she’d won from a scratch ticket

While each person has different reasons for becoming homeless, a UBCO study shows they learn through their interactions with different services to perform ‘as homeless’ based on the expectations of service providers. (Contributed)
Kelowna homeless forced to ‘perform’ for resources, says UBCO study

One participant in the study said ‘It is about looking homeless, but not too homeless’

Aquaculture employee from Vancouver Island, Michelle, poses with a comment that she received on social media. Facebook group Women in Canadian Salmon Farming started an online campaign #enoughisenough to highlight the harassment they were facing online after debates about Discovery Islands fish farms intensified on social media. (Submitted photo)
Female aquaculture employees report online bullying, say divisive debate has turned sexist

Vancouver Island’s female aquaculture employees start #enoughisenough to address misogynistic comments aimed at them

Mowi Canada West’s Sheep Pass salmon farm, the company’s final B.C. operation to receive certification from the Aquaculture Steward Council. The Canadian Federation of Agriculture (CFA) is questioning a government decision to phase out salmon farms in the Discovery Islands. (Photo supplied by Mowi Canada West)
Canadian Federation of Agriculture backs B.C. salmon farmers

Letter to prime minister calls for federal “champion” for aquaculture growth

Gov. Gen. Julie Payette takes the royal salute from the Guard of Honour as she makes her way deliver the the throne speech, Wednesday, September 23, 2020 in Ottawa. THE CANADIAN PRESS/Fred Chartrand
Gov. Gen. Julie Payette resigns, apologizes for ‘tensions’ at Rideau Hall

Payette, who is the Queen’s representative in Canada, has been the governor general since 2017

Most Read