Northisle Copper and Gold Inc.

Northisle Copper and Gold Inc.

April 04, 2012 09:00 ET

Northisle Copper and Gold Inc.: Drilling Extends Hushamu Zone Mineralization to the Southeast

Drill Now Moved to the North

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 4, 2012) - Northisle Copper and Gold Inc. (TSX VENTURE:NCX) ("Northisle" or the "Company") is pleased to announce that drilling at the Company's Hushumu deposit on Vancouver Island has extended the copper-gold-molybdenum mineralization for at least 200 metres southeast of the boundary of the 2005 historical resource. The mineralization remains open to the southeast.

Results of the three holes drilled on the south margin of the deposit will be released when assays have been received and compiled. The drill has now been moved to the North to test the still open northern margin of the deposit.

Recent Drill Results

Location of the recent drill holes is shown on the accompanying plan with the results summarized in the following table:

Hole Dip From metres To metres Interval metres Copper % Gold
Rhenium gpt Copper equiv. %
H12-01* -70 100 323.2 223.2 0.19 0.26 0.013 1.13 0.43*
H12-02 -70 37.3 64.3 27 0.11 0.29 0.004 0.29 0.32
H12-03* -70 182 254 72 0.16 0.13 0.021 1.27 0.36
427 485.1 60.1 0.28 0.38 0.100 0.52 0.58*
H12-04 -65 232.5 485 252.5 0.21 0.33 0.100 0.75 0.47
including 269.8 419 149.2 0.25 0.39 0.013 0.96 0.57
H12-05 -70 75 238.5 163.5 0.25 0.22 0.011 0.91 0.45
including 104 140 36 0.42 0.78 0.008 0.46 0.97
including 158 238.5 80.5 0.26 0.44 0.013 1.08 0.61
Copper equivalent metal prices US$2.50 copper, US$1,100 gold and US$14 molybdenum. No discount for metallurgical recovery used in calculation. Rhenium not used in calculating copper equivalence.
* Holes lost in mineralization

Intervals reported are core lengths.

Drill holes H12-01, H12-02, H12-04 and H12-05 tested the southeastern extension of the Hushamu deposit, the drill holes show that the copper-gold-molybdenum mineralization is present beneath a 50 to 100 metre of leached rock and that historical holes had been stopped short or in the upper part of the mineralization. Copper-gold and molybdenum mineralization remains open southeast of drill-hole H12-01 and H12-02. The nearest historical drill-hole to the southeast lies nearly 200 metres to the east. This historical hole is a shallow angle hole that may not have fully penetrated the leach cap. Additional step out and infill drilling of the extension of the mineralization will be part of a second phase of drilling planned for later this year.

Drill-hole H12-03 was drilled to confirm the southern extension of copper-gold-molybdenum mineralization between two widely spaced drill holes on the southern boundary of the historical resource.

The results of the initial drilling indicate the presence of significant amounts of both molybdenum and rhenium associated with the copper and gold mineralization. Rhenium is a metal used to increase the melting temperature of stainless steel. Its current market price is US$4 to $5 per gram. Neither of these two metals is included in the now historical 2005 resource calculation. These metals will be included in the next resource calculation to be carried out later in the year.

Jack McClintock, President and CEO, stated, "The extension of mineralization is an exciting development and could add significantly to the area of the historical resource. We are also very pleased with the molybdenum and rhenium grades in these holes as both metals have the potential to add considerable value to a future resource."

Analysis of core samples was carried out at ALS Group's North Vancouver facility. Gold analysis was by fire assay methods with atomic absorption finish. Analysis for copper, molybdenum and rhenium was by four acid digestion with ICP finish. QA/QC included insertion of standards and blanks in to the sample stream and duplicate samples on quartered core. Five percent of sample pulps were sent to Acme Analytical Laboratories Ltd. for check analysis.

To view the drilling plan map please follow the link

About Northisle

Northisle is a Vancouver-based junior resource company committed to the exploration and development of the Island Copper-Gold Project on northern Vancouver Island. The Island Copper-Gold 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 release.

For more information on Northisle and the Hushamu Deposit, please visit the Company's website at

On behalf of Northisle Copper and Gold Inc.

John McClintock, President, CEO and Director

This news 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 the 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 news release.

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