ArcWest Exploration Inc. Discovers High-Grade Epithermal Gold and Extends the Footprint of the Porphyry Copper-Molybdenum-Gold System, Teeta Creek Project

June 20, 2019 8:30 AM EDT | Source: ArcWest Exploration Inc.

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.

Methods

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.

Qualified Person

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

SampleNorthingEastingAuAgAsCuHgMoPbSbZn

(m)(m)(ppm)(ppm)(ppm)(ppm)(ppm)(ppm)(ppm)(ppm)(ppm)
S85060155815226057410.00050.13160.52213
S85060255817296060330.00050.114430.51332189
S85060355818296048600.0190.42371030.5391351
S85060455820266050241.0352.1101140.516916730
S85060555826326043680.0020.111220.51051114
S850606558362760518821.115980670.541067045
S85060755836486051270.0280.222120.524154
S85060855836486050850.00050.117340.512138
S85060955835456049820.0251.41525400.5402160
S85061055833366047300.0090.7212500.5301155
S85061155830056054840.0061.2133190.510112327
S85061255829206054800.0060.883271371402
S85061355828756054790.011.31215451232350
S85061455827296051600.010.9510600.5211127
S85061555827046051080.0030.425360.51642122
S85061655826996051130.0040.415840.551127
S85061755826706051020.0131.7416350.5793152
S85061855826326050660.0020.638110.5363139
S85065155830896053180.0073.4185680.5426861320
S85065255835686050100.0212.1527200.5261130
S85065355828796051960.0071.21421600.5684158
S85065455829176050930.0031.239270.5963175
S85065555829826050570.0010.245720.5791124
S85070155818766038270.0130.4111710.5211594
S85070255818786038260.00050.1160.50.53183
S85070355819186038410.00050.221250.53201136
S85070455830516047930.0020.5321700.5371241
S85070555831146048800.0030.3311550.5751136
S85070655827586028780.00050.17470.50.51192
S85070755815626057920.0040.1451112237
S85070855815616057870.00050.12270.572115
S85070955815616057790.00050.1145236119
S85071055815526057730.0020.16921219
S85071155817076060030.00050.122350.542115
S85071255813676059900.00050.1530.53415
S85071355813116059830.00050.13311316
S85071455817046047640.0020.22831131157
S85071555818226048510.117147433111719282
S85071655819346049470.0120.35570.51432644
S85071755820326050320.00050.13100.50.52193
S85071855826506043730.0190.56467174153
S85071955836356052160.011.344190115113
S85072055836356052210.00050.1590.523340
S85072155836406051750.00050.1313123143
S85072255836546051150.0030.244470.522138
S85072355836566051120.00050.22693113168
S85072455835846050620.9911.5538411115610000411
S85072655835746050440.0090.169812215029
S85072755835546049890.0220.7156350.597462944
S85072855834666048110.0050.319110.5101338
S85072955834746047800.031.2225100.5991457
S85073055834776047760.0210.83155514121950
S85073155834596047520.0070.41566122129
S85073255834516047500.0080.316170.511122
S85073355832656046690.0070.429900.592142
S85073455842926057831.9653.71495180.51173131
S85073555843026057810.0240.24880.515232
S85073655832566055460.0070.311130.50.59145
S85073755835296049610.0222.1733500.5921963
S85073855835386049740.021.5428900.5171155
S85073955836806046650.0010.11514123114
S85074055836256046040.00050.1130111120

 

* Coordinates are given in North American Datum 83 (NAD83), Zone 9.

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