Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
NorthWest Copper Corp. (TSXV: NWST; US-OTCQX: NWCCF) has released a new mineral resource estimate on the Lorraine project, about 40 km. from the company’s Kwanika-Stardust project in Central British Columbia.
The June 30 technical report draws on drilling completed between 1949 and 2009 and calculates an indicated resource of 12.9 million tonnes for 156,093 lb. of copper, grading at 0.55% copper and 0.66% copper-equivalent.
The inferred resource is 45.2 million tonnes for 427,931 lb. of metal grading at 0.43% copper and 0.50% copper-equivalent.
“This updated mineral resource estimate adds to our overall copper-gold resource base with both size and good grades close to surface,” NorthWest Copper CEO Peter Bell said in a statement. “Our portfolio continues to deliver results, and the proximity of Lorraine to our flagship Kwanika-Stardust projects is significant.”
The company said the increased resource holds the potential for it to at least examine the potential for inclusion in a regional hub and spoke operation, given the shallow nature of the high-grade mineralization and its proximity to established access.
