Northisle Copper and Gold has announced the extension of copper-gold-molybdenum mineralization at its Hushumu deposit, located in Vancouver Island. The drilling at this property has extended the mineralization up to 200 m southeast to the 2005 ancient resource border and is exposed to the southeast direction.
Four drill holes, H12-01, H12-02, H12-04 and H12-05 analyzed the southeastern extension of the deposit. These holes indicate the presence of copper-gold-molybdenum mineralization under a leached rock at 50 to 100 m depth and also that drilling in ancient holes have been either terminated shorter or stopped in the upper part. In H12-01 and H12-02 holes, copper-gold and molybdenum mineralization is still observed in the southeast direction. The next closer ancient drill hole is located 200 m away to the eastern direction. The leach cap may not be entirely penetrated by this shallow angle ancient hole.
Hole H12-03 was drilled to validate whether the southern extension of copper-gold-molybdenum materialization is present in between the two holes of the southern border of the ancient resource.
The assay results of the three holes drilled on the southern border of the deposit is yet to be received. Currently, drilling is shifted to the North for analyzing the open northern border of the deposit.
Significant rhenium and molybdenum values were encountered with gold and copper mineralization in the first drilling. Both the metals were not included during 2005 drilling calculations.
The second phase of the drilling will be conducted later this year, where the extension of the mineralization will be given priority. Further, the resource calculations for rhenium and molybdenum will also be performed later in 2012.