ArcWest Exploration Inc. Discovers High-Grade Epithermal Gold and Extends the Footprint of the Porphyry Copper-Molybdenum-Gold System, Teeta Creek Project
Vancouver, British Columbia--(Newsfile Corp. - June 20, 2019) - ArcWest Exploration Inc. (TSXV: AWX) ("ArcWest") is pleased to announce results of reconnaissance geological mapping and rock geochemical surveys on its Teeta Creek porphyry copper-molybdenum-gold project, northern Vancouver Island, British Columbia. The rocks collected were select grab samples from various outcrops spanning the property. Complete geochemical results for the 2019 program are included in Appendix A. Highlights of program results include:
Mapping and sampling (45 rock samples) has now outlined a 900 by 500 meter zone of intensely altered porphyry dykes, multistage breccias and well-mineralized porphyry-style quartz-sulfide veins and stockworks. Copper (Cu) values range up to 0.473% (352-4730 ppm, averaging 0.16%) with molybdenum (Mo) values up to 310 ppm (1-310 ppm, averaging 61 ppm).
Quartz-limonite veins within argillic altered porphyry returned gold (Au) values up to 21.1 grams per tonne (g/t) and silver (Ag) values up to 15 g/t.
Newly exposed clay-pyrite altered breccias on recently staked claims at the north end of the property returned Au values up to 1.9 g/t and Ag values up to 3.7 g/t.
Extensive, previously unsampled silica-pyrite-clay altered hydrothermal breccias along new logging roads at higher elevations south of the known porphyry system returned assays up to 1.035 g/t Au.
The new discoveries of epithermal gold mineralization both north and south of the known porphyry suggest that the footprint of the system is significantly larger than previously recognized and now spans at least 3 kilometers north-south and 2 kilometers east-west. Furthermore, the discovery of chalcopyrite bearing, intensely quartz-sericite-pyrite altered porphyritic intrusions with remnant hydrothermal biotite at the lowest elevations on the property suggest potential for increasing copper grades at depth.
ArcWest Exploration President Tyler Ruks comments:
"Our 2019 field program at Teeta Creek has delivered encouraging results, including the discovery of high-grade gold-silver mineralization, and the recognition that the footprint of the porphyry copper system on the property is far greater than previously thought. Discussions with potential funding partners are ongoing, and we are eagerly anticipating further exploration of the project in 2019."
The Teeta Creek project is located 23 kilometers south of BHP-Billiton's past producing Island Copper porphyry copper-molybdenum-gold mine, and 40 km south of NorthIsle Copper and Gold Inc.'s advanced-stage North Island porphyry copper-gold project, a portion of which is currently being explored under an earn-in agreement with Freeport McMoRan. The road-accessible project is located 5 kilometers west of Port Alice on the west side of Neuroutsos Inlet on northern Vancouver Island. Porphyry copper mineralization at Teeta Creek was explored between 1967 and 1976 by Newmont, Cities Service Mineral Corp. and others. Eleven diamond drill holes completed during this period outlined a 950 by 500 meter zone of porphyry copper mineralization at low elevations in the valley, with every drill hole returning multiple intersections of copper mineralization. Significant historic drill intercepts documented in B.C. Geological Survey Assessment Reports included 0.35% Cu over 67.1 meters in S75-1, and 0.36% Cu over 36.5 meters in S68-3.
A developing logging road network on the west side of Neuroutsos Inlet has provided new rock exposures that greatly enhance the footprint and prospectivity of the Teeta Creek porphyry target. Work by Seven Devils Exploration in 2016 highlighted the presence of broad zones of intensely altered porphyry dykes, multistage breccias and porphyry Cu-Mo veins over 700 meters north and 200 meters elevation above the zone of historical drilling. Additional mapping and sampling by ArcWest in 2019 has extended this zone of strong porphyry Cu-Mo alteration and mineralization to 900 by 500 meters. A total of 45 rock samples from this zone (including 2016 samples) returned Cu values up to 0.473% (352-4730 ppm, averaging 0.16%) and Mo values up to 310 ppm (1-310 ppm, averaging 61 ppm). Most of this zone, which is open to the northwest and southeast, is untested by drilling.
In addition, initial sampling of newly identified epithermal mineralization on the margins of the upper part of the porphyry Cu-Mo zone returned values of 0.43 and 1.95 g/t Au and 4.3 and 5.2 g/t Ag. Follow-up mapping and sampling in 2019 identified significantly higher grade mineralization within this zone, including sample S850606, which returned 21.1 g/t Au and 15.0 g/t Ag, and sample S805606, with 0.99 g/t Au and 11.5 g/t Ag. The Au-Ag mineralization is accompanied by high values for epithermal indicator elements arsenic (up to 0.11%) and antimony (up to >1%), and is associated with structurally controlled zones of suspected advanced argillic alteration.
The 2019 mapping and sampling program has significantly increased the footprint of the Teeta Creek porphyry Cu-Mo-Au and associated epithermal Au-Ag system. Rock sampling of recently exposed clay-pyrite altered breccias in fresh landslides located on newly staked claims at north end of the property returned Au values up to 1.9 g/t and Ag values up to 3.7 g/t. About 600 meters south of the historical drill area, new logging roads have exposed silica-clay altered feldspar porphyry containing polymetallic sulfide mineralization. Rock samples returned Au values up to 1.035 g/t, Ag values up to 2.1 g/t, and Zn (zinc) values up to 0.6%.
At higher elevations up to 1.5 kilometers south of the southernmost drill holes, new exposures include outcrops of hydrothermal breccia containing strongly clay-pyrite altered clasts within a matrix of chalcedonic silica and fine-grained pyrite, in addition to outcrops of strongly silica-clay±pyrite altered feldspar porphyritic and dioritic intrusions. These breccias and altered intrusive rocks cross-cut volcanic rocks containing abundant vein and disseminated pyrite, which may be indicative of the pyrite halo to an underlying porphyry copper system.
Collectively, these newly discovered alteration zones suggest the Teeta Creek porphyry Cu and associated epithermal Au-Ag system is much larger than previously thought, with overall dimensions of at least 3 by 2 kilometers, open to the north and south. In addition, outcrops at the lowest elevations on the property along Teeta Creek include a suite of intensely quartz-sericite-pyrite (QSP) altered porphyritic intrusions containing significant chalcopyrite (up to 0.22% Cu in 2019 rock samples). The presence of chalcopyrite bearing, intensely QSP altered porphyry with remnant hydrothermal biotite at the lowest elevations on the property indicates the potential for greater copper concentrations with depth as the system transitions to potassic alteration.
Further planned work at Teeta Creek in 2019 will include ongoing property tours with potential joint venture partners, as well as additional fieldwork to evaluate the prospectivity of recently discovered high grade Au-Ag mineralization.
Initial field programs for ArcWest's Eagle and Sparrowhawk porphyry copper-gold projects have been completed and assays for rock samples are pending. Field programs at its Todd Creek and Oweegee Dome projects in the Golden Triangle of northwestern BC are scheduled for July.
Rock samples are of a reconnaissance nature, including chip, grab and select samples and may not be representative of a larger volume of rock. The samples were analyzed by ALS Global of North Vancouver, British Columbia. They were prepared for analysis according to ALS method Prep-31A: each sample was crushed to 70% passing -2mm and a 250g split was pulverized to better than 85% passing 75 micron mesh. Gold was tested by fire assay with ICP-AES finish on a 30g nominal sample (method Au-ICP21). An additional 35 elements were tested by ICP-AES using aqua regia digestion (method ME-ICP41). Quality assurance and control (QAQC) is maintained internally and at the lab through rigorous use of internal standards, blanks and duplicates.
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.
The presence and style of mineralization on the Island Copper and North Island properties is not necessarily indicative of similar mineralization on the ArcWest Exploration Inc. property. Historical assays from the Teeta Creek drill programs 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.
Appendix A: 2019 Teeta Creek Geochemical Results
* Coordinates are given in North American Datum 83 (NAD83), Zone 9.
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