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A Year of Major Achievements: NorthIsle Copper & Gold 2024 Review at North Island Project

NorthIsle Copper & Gold achieved major milestones in 2024, advancing its North Island copper-gold project in BC through drilling, economic studies and permitting.

About NorthIsle Copper & Gold

NorthIsle Copper & Gold (TSXV:NCX) is a Canadian mining company focused on advancing its 100%-owned North Island Project, one of the largest undeveloped copper-gold porphyry deposits in British Columbia. The project hosts significant indicated resources of 6.9 million ounces of gold and 3.1billion pounds of copper.

Operational Developments

In 2024, NorthIsle Copper & Gold made significant progress on the operational front at its North Island Project:

  • Strong drilling results: Drilling intersected impressive intervals of high-grade mineralization, including 132.8m grading 1.49g/t Au Eq., including 33m grading 2.66g/t Au Eq at NW24-29The results support NorthIsle's phased development strategy, which envisions starting with a smaller-scale, higher-margin operation to reduce initial capital costs and shorten the timeline to production.

Corporate & Financial Developments

NorthIsle also achieved important milestones on the corporate and financial fronts in 2024:

  • On the corporate front, a key milestone was the completion of a $10 million financing led by prominent resource-focused institutional investors. The financing proceeds are funding ongoing exploration and development activities.
  • NorthIsle entered into key consent agreements with local First Nations, establishing a clear framework for consultation and economic participation as the North Island Project advances.

Phased Development Approach to Enhance Project Economics

NorthIsle Copper & Gold provided more details on its phased development approach at the flagship North Island Project. The company plans to initially focus on the higher-grade Northwest Expo and Red Dog zones, which have a more favourable gold-copper ratio compared to the overall resource.

Recent resource estimates indicate these zones contain approximately 70-100 million tonnes grading 0.50-0.55% copper-equivalent, with gold accounting for about 70% of the contained metal value. By prioritizing the development of these higher-margin resources in Phase 1, NorthIsle aims to significantly enhance the project economics.

CEO Sam Lee elaborated on the expected improvements compared to the 2021 Preliminary Economic Assessment (PEA). While the prior study outlined a large 22-year operation producing 100 million pounds of copper and 100,000 ounces of gold annually, the updated Phase 1 scenario is expected to have:

  • Higher grade and metal content: Doubling of average annual gold production
  • Reduced capital intensity: Initial throughput of 40,000 tonnes per day vs 70-80,000 tpd previously
  • Improved capital efficiency: Lower upfront capital requirements by phasing in larger tonnage later

This phased approach follows a similar model to what Artemis Gold successfully implemented at its Blackwater project. By staging the development to start with the highest-margin resources, NorthIsle can optimize the capital expenditures while maintaining robust operating margins.

The updated PEA planned for Q1 2025 is expected to demonstrate the economic benefits of this optimized development scenario. This will be a key near-term catalyst for NorthIsle as it continues to advance and de-risk the North Island Project.

Outlook for 2025

Building on its success in 2024, NorthIsle plans to continue aggressively advancing the North Island Project in 2025. Key upcoming milestones include:

  • Updated resource estimate incorporating the high-grade drill results
  • Completion of metallurgy and engineering studies
  • Continued expansion drilling, particularly between the existing deposits
  • Initiation of the formal permitting process
  • Completion of a pre-feasibility study on the starter pit option

With exposure to rising copper and gold prices, a substantial resource base, and a clear path to production in a mining-friendly jurisdiction, NorthIsle is well-positioned for a transformative year in 2025.

Conclusion

2024 was a year of significant progress for NorthIsle Copper & Gold as it advanced the North Island Project, one of the most promising undeveloped copper-gold assets in Canada. Through successful exploration drilling and continued support from institutional investors and First Nations, NorthIsle has positioned itself as an attractive vehicle for copper and gold exposure. As it continues to systematically de-risk and advance North Island towards production, NorthIsle is well on track to create substantial value for shareholders.

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