Northisle Commences 2025 Drilling and Field Program
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Northisle 2025 drill program on its North Island Project commenced on April 17 from road-based pads
789 metres completed as of April 27, 2025
Drilling will focus on the Northwest Corridor which includes the resources informing the higher margin Phase 1 of the Company's 2025 PEA
Drilling commenced at the West Goodspeed target area and is intended to further expand the footprint of mineralization which is not currently included in a resource estimate
Field work and drilling in the Northwest Expo area will focus on identifying the intrusive associated with high-grade gold mineralization in this segment of the belt
Surface mapping, soil and stream sediment sampling, and geophysical analysis are also being conducted in the Northwest Corridor in addition to drilling
Integration and modelling of over 60 years of property-wide exploration data is underway to apply the successful Northwest Corridor targeting approach across similar anomalies throughout the property
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VANCOUVER, British Columbia — Northisle Copper and Gold Inc. (TSX-V: NCX) ('Northisle' or the 'Company') is pleased to announce that it has commenced its 2025 exploration program at the North Island Project. The 2025 exploration program will consist of at least 7,000 metres of drilling focused on the West Goodspeed and Northwest Expo targets, plus an extensive field program which will leverage the Company's exploration data to identify additional targets along its 100% controlled North Island copper-gold porphyry belt.
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Sam Lee, President & CEO stated 'Since 2021, Northisle has advanced the highly prospective Northwest Corridor with three successful phases of drilling, moving from a discovery hole at Northwest Expo in Phase I, to the discovery of West Goodspeed in Phase II, to defining a high margin resource at Northwest Expo and advancing West Goodspeed drilling in Phase III. We are pleased to have commenced our Phase IV drilling program with a focus on advancing a maiden resource at West Goodspeed and finding the intrusive at Northwest Expo. Northisle is in the envious position of having highly compelling exploration potential and an economically attractive development project, all within the same project footprint.'
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Dr. Pablo Mejia Herrera, Vice President Exploration of Northisle added, 'In 2025, our exploration team will continue advancing our understanding of this district-scale project. Integration and modelling of more than 60 years of property-wide exploration data is underway to apply the successful Northwest Corridor targeting approach across our 35-kilometre district.'
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Key Exploration Milestones
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In 2025, following the completion of the Company's successful 2025 Preliminary Economic Assessment on the North Island Project which demonstrated a 29% IRR, $2 billion NPV and 1.9 year payback for a C$1.1 billion capex 1, the Company's exploration focus will be on Phase IV Northern Corridor drilling program with the objective of increasing higher margin resources, finding the causative intrusion associated with the high-grade gold mineralization at Northwest Expo, and expanding targeting efforts across the 35-kilometre porphyry district.
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Additional details on development milestones will be shared later in 2025.
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Key exploration milestones include the following:
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Upcoming Investor Events
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During 2025, the Company will continue to be active in investor outreach. Northisle will be attending several external investor events including the following events:
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June 3 – 5, 2025: Mining Investment of the North, Quebec City, QC
Summer 2025: Broker and Institutional Site Visits
September 9 – 12, 2025: Precious Metals Summit, Beaver Creek, CO
September 14 – 17, 2025: Mining Forum Americas, Colorado Springs, CO
November 19 – 21, 2025: Swiss Mining Institute, Zurich, Switzerland
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Figure 1 shows a map of the overall North Island Project including existing deposits and key prospects.
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Drilling in 2025 will begin with in-fill and step-out holes at the West Goodspeed target, aiming to confirm the distribution of copper and gold mineralization previously outlined over more than one kilometre of strike length, oriented NNW–SSE. The in-fill and step-out drilling will complement the twelve holes previously drilled in the area, from which the most significant are GS24-07 2, which intersected 154.8 metres grading 0.23% Cu and 0.31 g/t Au (0.53% Cu Eq.) from 13.2 metres, and GS24-10 3, which returned 210.0 metres grading 0.23% Cu and 0.29 g/t Au (0.50% Cu Eq.) from 46.0 metres, including a higher-grade interval of 68.0 metres at 0.37% Cu and 0.58 g/t Au (0.86% Cu Eq.) from 110.0 metres.
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Figure 2 shows drill holes completed by Northisle and previous operators at the Red Dog Deposit, West Goodspeed and Goodspeed areas overlaid on magnetic anomalies and local topography.
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The 2025 program at West Goodspeed will include approximately 5,600 metres of drilling, comprising at least seven infill holes aimed at confirming higher-grade intercepts in the central portion of the West Goodspeed copper-gold mineralization, and a minimum of three step-out holes to test the extension of the mineralized trend along strike.
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Figure 3 shows a section through the Red Dog PEA pit shell and West Goodspeed target area.
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Ongoing soil geochemistry program and geophysical inversions are focused on refining targets potentially associated with the intrusive linked to Northwest Expo. Integration of mapping, soil geochemistry, and geophysical data is expected to refine the drill targets, with drilling anticipated before the end of the third quarter of this year.
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COMPETENT PERSON / QUALIFIED PERSON All technical and scientific information in this announcement has been reviewed and approved by Group Chief Geologist, Mr Juan Gutierrez BSc, Geology (Masters), Geostatistics (Postgraduate Diploma), who is a Member and Chartered Professional of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Gutierrez is a Competent Person as defined in the JORC Code 2012 and a Qualified Person as defined in NI 43-101. FORWARD-LOOKING INFORMATION This announcement may contain certain forward-looking statements and projections, including statements regarding the Equity Raising, the SPP, and FireFly's plans, forecasts and projections with respect to its mineral properties and programs, including the use of proceeds of the Equity Raising and SPP and the completion and expected closings of the Equity Raising and SPP. Forward-looking statements may be identified by the use of words such as "may", "might", "could", "would", "will", "expect", "intend", "believe", "forecast", "milestone", "objective", "predict", "plan", "scheduled", "estimate", "anticipate", "continue", or other similar words and may include, without limitation, statements regarding plans, strategies and objectives. Although the forward-looking statements contained in this announcement reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward-looking statements and projections are estimates only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company, which may include changes in commodity prices, foreign exchange fluctuations, economic, social and political conditions, and changes to applicable regulation, and those risks outlined in the Company's public disclosures. The forward-looking statements and projections are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that FireFly will be able to confirm the presence of Mineral Resources or Ore Reserves, that FireFly's plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of FireFly's mineral properties. The performance of FireFly may be influenced by a number of factors which are outside of the control of the Company, its directors, officers, employees and contractors. The Company does not make any representations and provides no warranties concerning the accuracy of any forward-looking statements or projections, and disclaims any obligation to update or revise any forward-looking statements or projections based on new information, future events or circumstances or otherwise, except to the extent required by applicable laws. Green Bay Copper-Gold Project Mineral Resources Ming Deposit Mineral Resource Estimate Little Deer Mineral Resource Estimate GREEN BAY TOTAL MINERAL RESOURCE ESTIMATE 1. FireFly Metals Ltd Mineral Resources for the Green Bay Copper-Gold Project, incorporating the Ming Deposit and Little Deer Complex, are reported in accordance with the JORC Code 2012 and NI 43-101. 2. Mineral Resources have been reported at a 1.0% copper cut-off grade. 3. Metal equivalents for the Mineral Resource Estimate has been calculated at a copper price of US$8,750/t, gold price of US$2,500/oz and silver price of US$25/oz. Metallurgical recoveries have been set at 95% for copper and 85% for both gold and silver. CuEq(%) = Cu(%) + (Au(g/t) x 0.82190) + (Ag(g/t) x 0.00822). 4. Totals may vary due to rounding. SOURCE FireFly Metals Ltd.
