Drilling Completed at ArcWest's Teeta Creek Porphyry Copper-Molybdenum-Gold Project
Vancouver, March 22, 2021 - ArcWest Exploration Inc. (TSXV: AWX) ("ArcWest") is pleased to provide an update on partner funded exploration activities. Drilling has been completed at its Teeta Creek porphyry copper-molybdenum-gold ("Cu-Mo-Au") project, funded by partner Teck Resources Ltd. ("Teck"). Assay results for the drill program, in addition to technical reports documenting the results of Teck's 2020-2021 Teeta Creek and NVI exploration programs, are expected in the coming months.
Tyler Ruks, President and CEO of ArcWest commented, "ArcWest would like to thank its partner Teck for persevering with a winter drill program at our Teeta Creek porphyry Cu-Mo-Au project. Teck's porphyry copper exploration team is second to none, and we are fortunate to have them as partners and operators at our Teeta Creek and NVI porphyry Cu-Mo-Au projects. The road accessible Teeta Creek and NVI projects are ideally situated near power and a deep water port in northern Vancouver Island. Cu-Mo-Au mineralized porphyritic intrusive rocks at Teeta Creek have been dated at 6.3 Ma (U-Pb, zircon; Nixon et al., 2020), making Teeta Creek one of the youngest porphyry Cu-Mo-Au systems in North America. The system is interpreted to be the product of ridge subduction, a tectonic process long recognized as playing a significant role in the generation of the world's largest and highest grade porphyry Cu-Mo-Au deposits."
Details regarding the Teeta Creek and NVI earn-in and joint venture agreements can be found in ArcWest 2019 press releases dated October 15th and December 20th, respectively.
ArcWest's corporate presentation is available for download here. ArcWest's technical presentation is available for download here.
The 2021 Teeta Creek drill program included a total of 1,116 metres of drilling from two platforms in order to satisfy a minimum $500,000 work commitment.
The program was designed to test a previously undrilled portion of the Teeta Creek porphyry Cu-Mo-Au system. The two drill platforms, separated by 320 m, are situated 200 m to 350 m above and 600 m north of historical drill holes located in the valley bottom that intercepted significant Cu mineralization over a broad area. These historical drill holes returned assays up to 0.35% Cu over 67.1 meters and 0.23% Cu over 87 m in holes 75-1 and 68-3, respectively. An approximately 450 m wide zone between these well mineralized historical drill holes remains virtually unexplored and represents a high priority target for follow up drilling.
The Teeta Creek porphyry Cu-Mo-Au and epithermal Au-Ag system has a footprint of approximately 3 by 2 kilometers and is open to the north and south. Vertically, the system extends from strongly Cu-Au mineralized porphyritic intrusions and associated breccias exposed in the valley floor to Cu-Au mineralized but previously undrilled porphyritic intrusions and breccias exposed alongside logging roads at elevation. Sampling of these higher elevation roadside porphyry copper occurrences by ArcWest returned assays up to 0.47% Cu and 0.031% Mo; this area was the focus of the 2021 winter drill program. A zone of intense clay-pyrite alteration and associated epithermal Au-Ag mineralization overprints the porphyry system at high elevations in the system. Sampling of this area in 2019 returned assays up to up to 21.1 g/t Au. Multiple historical drill holes in the valley floor returned significant copper intercepts, including assays up to 0.35% Cu over 67.1 meters in 75-1 and 0.23% Cu over 87 m in 68-3; the 450 m wide zone in between these historical drill holes remains virtually unexplored.
Nixon, G.T., Friedman, R.M., and Creaser, R.A., 2020. Late Neogene porphyry Cu-Mo(±Au-Ag) mineralization in British Columbia: the Klaskish Plutonic Suite, northern Vancouver Island. In: Geological Fieldwork 2019, British Columbia Ministry of Energy, Mines and Petroleum Resources, British Columbia Geological Survey Paper 2020-01, pp. 119-132. (PDF)
About ArcWest Exploration Inc.
ArcWest Exploration is a project generator focused on porphyry copper-gold exploration opportunities throughout western North America. The company is in possession of ten 100% owned copper-gold projects throughout BC's premier porphyry copper-gold districts; at least four of these projects are scheduled to undergo partner funded drill testing in 2021. By conducting partner funded exploration on multiple exploration projects simultaneously, ArcWest's chances of discovery are enhanced while exposing shareholders to minimal dilution. The company is managed by an experienced technical team with a track record of discovery and a reputation for attracting well-funded senior partners, including Freeport McMoRan, Robert Friedland group companies, ITOCHU, Antofagasta and Teck.
ArcWest's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Jeff Kyba, PGeo, VP Exploration, who serves as a Qualified Person under the definition of National Instrument 43-101.
For further information please contact: Tyler Ruks, President and CEO at +1 (604) 638 3695.
Historical assays from drill programs on its properties have not been verified by ArcWest but have been cited from sources believed to be reliable.
This news release contains statements about ArcWest's expectations and are forward-looking in nature. As a result, they are subject to certain risks and uncertainties. Although ArcWest believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and ArcWest undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/77927