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

Parksville Fire Department crews attended the scene of a house fire on Monday, Jan. 18, 2021 at the end of Foster Place in Parksville. No injuries were reported. (Mandy Moraes photo)
Fire crews called to battle house fire in Parksville

No injuries reported, kitty rescued

Emma Nunn from Alberni Valley Rescue Squad waits at the summit of Mount Arrowsmith for the rest of the AVRS rope rescue team on Sunday, Jan. 17, 2021. (PHOTO COURTESY DAVE POULSEN, AVRS)
UPDATE: Injured hikers among three rescued in the dark from Mount Arrowsmith

‘It was a very bad, very precarious spot to be able to locate them’

Kim Burden, executive director of the Parksville and District and Qualicum Beach Chambers of Commerce. (PQB News photo)
PQBeat: Chamber of Commerce executive director Kim Burden looks ahead

Podcast: Talk includes 2021 business plans in Parksville, Qualicum Beach, events and more

The Village Way and Highway 19A roundabout is the Town of Qualicum Beach priority for a grant application. (Google Map)
Qualicum Beach council favours roundabout over turf field project

Mayor believes road project has better chance of landing grant

Provincial health officer Dr. Bonnie Henry prepares a daily update on the coronavirus pandemic, April 21, 2020. (B.C. Government)
B.C. adjusts COVID-19 vaccine rollout for delivery slowdown

Daily cases decline over weekend, 31 more deaths

Health-care workers wait in line at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
Canadians who have had COVID-19 should still get the vaccine, experts say

Pfizer-BioNTech and Moderna vaccines were found to have a 95 per cent efficacy

An empty Peel and Sainte-Catherine street is shown in Montreal, Saturday, Jan. 9, 2021, as the COVID-19 pandemic continues in Canada and around the world. THE CANADIAN PRESS/Graham Hughes
Poll finds strong support for COVID-19 curfews despite doubts about effectiveness

The poll suggests 59 per cent remain somewhat or very afraid of contracting COVID-19

Egg producers in B.C. aren’t obligated to reveal their production sites. (Sarah Simpson/Citizen)
Officials say there’s not enough Vancouver Island eggs to meet demand

BC Egg Marketing Board doesn’t regulate labelling, supply needed from off-Island

A Courtenay resident labours to remove the snow build-up from around her car in February 2019. The area may see snow throughout the coming weekend. Black Press file photo
Snow, winter might not be done with Vancouver Island quite yet

Flurries, snow and cold temps predicted for the weekend for mid-Island

A female prisoner sent Langford police officers a thank-you card after she spent days in their custody. (Twitter/West Shore RCMP)
Woman gives Victoria-area jail 4.5-star review in handwritten card to police after arrest

‘We don’t often get thank you cards from people who stay with us, but this was sure nice to see’: RCMP

An elk got his antlers caught up in a zip line in Youbou over the weekend. (Conservation Officer Service Photo)
Elk rescued from zip line in Youbou on Vancouver Island

Officials urge people to manage items on their property that can hurt animals

A Trail man has a lucky tin for a keepsake after it saved him from a stabbing last week. File photo
Small tin in Kootenay man’s jacket pocket saved him from stabbing: RCMP

The man was uninjured thanks to a tin in his jacket

Most Read