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

20.06.2019  |  Newsfile

Vancouver, 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 Inc. 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

Sample Northing Easting Au Ag As Cu Hg Mo Pb Sb Zn

(m) (m) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm)
S850601 5581522 605741 0.0005 0.1 3 16 0.5 2 2 1 3
S850602 5581729 606033 0.0005 0.1 14 43 0.5 1 3 32 189
S850603 5581829 604860 0.019 0.4 237 103 0.5 3 9 13 51
S850604 5582026 605024 1.035 2.1 10 114 0.5 1 69 1 6730
S850605 5582632 604368 0.002 0.1 11 22 0.5 10 5 1 114
S850606 5583627 605188 21.1 15 980 67 0.5 4 106 70 45
S850607 5583648 605127 0.028 0.2 22 12 0.5 2 4 1 54
S850608 5583648 605085 0.0005 0.1 17 34 0.5 1 2 1 38
S850609 5583545 604982 0.025 1.4 15 2540 0.5 40 2 1 60
S850610 5583336 604730 0.009 0.7 2 1250 0.5 30 1 1 55
S850611 5583005 605484 0.006 1.2 13 319 0.5 10 11 2 327
S850612 5582920 605480 0.006 0.8 8 327 1 3 7 1 402
S850613 5582875 605479 0.01 1.3 12 1545 1 23 2 3 50
S850614 5582729 605160 0.01 0.9 5 1060 0.5 21 1 1 27
S850615 5582704 605108 0.003 0.4 2 536 0.5 164 2 1 22
S850616 5582699 605113 0.004 0.4 1 584 0.5 5 1 1 27
S850617 5582670 605102 0.013 1.7 4 1635 0.5 79 3 1 52
S850618 5582632 605066 0.002 0.6 3 811 0.5 36 3 1 39
S850651 5583089 605318 0.007 3.4 18 568 0.5 42 68 6 1320
S850652 5583568 605010 0.021 2.1 5 2720 0.5 26 1 1 30
S850653 5582879 605196 0.007 1.2 14 2160 0.5 68 4 1 58
S850654 5582917 605093 0.003 1.2 3 927 0.5 96 3 1 75
S850655 5582982 605057 0.001 0.2 4 572 0.5 79 1 1 24
S850701 5581876 603827 0.013 0.4 11 171 0.5 2 11 5 94
S850702 5581878 603826 0.0005 0.1 1 6 0.5 0.5 3 1 83
S850703 5581918 603841 0.0005 0.2 21 25 0.5 3 20 1 136
S850704 5583051 604793 0.002 0.5 3 2170 0.5 37 1 2 41
S850705 5583114 604880 0.003 0.3 3 1155 0.5 75 1 1 36
S850706 5582758 602878 0.0005 0.1 7 47 0.5 0.5 1 1 92
S850707 5581562 605792 0.004 0.1 45 11 1 2 2 3 7
S850708 5581561 605787 0.0005 0.1 22 7 0.5 7 2 1 15
S850709 5581561 605779 0.0005 0.1 14 5 2 3 6 1 19
S850710 5581552 605773 0.002 0.1 6 9 2 1 2 1 9
S850711 5581707 606003 0.0005 0.1 22 35 0.5 4 2 1 15
S850712 5581367 605990 0.0005 0.1 5 3 0.5 3 4 1 5
S850713 5581311 605983 0.0005 0.1 3 3 1 1 3 1 6
S850714 5581704 604764 0.002 0.2 28 3 1 1 3 1 157
S850715 5581822 604851 0.117 1 474 33 1 1 17 19 282
S850716 5581934 604947 0.012 0.3 55 7 0.5 1 43 2 644
S850717 5582032 605032 0.0005 0.1 3 10 0.5 0.5 2 1 93
S850718 5582650 604373 0.019 0.5 6 467 1 7 4 1 53
S850719 5583635 605216 0.01 1.3 44 190 1 1 5 1 13
S850720 5583635 605221 0.0005 0.1 5 9 0.5 2 3 3 40
S850721 5583640 605175 0.0005 0.1 3 13 1 2 3 1 43
S850722 5583654 605115 0.003 0.2 44 47 0.5 2 2 1 38
S850723 5583656 605112 0.0005 0.2 26 93 1 1 3 1 68
S850724 5583584 605062 0.99 11.5 538 41 1 1 156 10000 411
S850726 5583574 605044 0.009 0.1 6 98 1 2 2 150 29
S850727 5583554 604989 0.022 0.7 15 635 0.5 97 4 629 44
S850728 5583466 604811 0.005 0.3 1 911 0.5 10 1 3 38
S850729 5583474 604780 0.03 1.2 2 2510 0.5 99 1 4 57
S850730 5583477 604776 0.021 0.8 3 1555 1 41 2 19 50
S850731 5583459 604752 0.007 0.4 1 566 1 2 2 1 29
S850732 5583451 604750 0.008 0.3 1 617 0.5 1 1 1 22
S850733 5583265 604669 0.007 0.4 2 990 0.5 9 2 1 42
S850734 5584292 605783 1.965 3.7 1495 18 0.5 1 17 31 31
S850735 5584302 605781 0.024 0.2 48 8 0.5 1 5 2 32
S850736 5583256 605546 0.007 0.3 11 13 0.5 0.5 9 1 45
S850737 5583529 604961 0.022 2.1 7 3350 0.5 92 1 9 63
S850738 5583538 604974 0.02 1.5 4 2890 0.5 17 1 1 55
S850739 5583680 604665 0.001 0.1 15 14 1 2 3 1 14
S850740 5583625 604604 0.0005 0.1 1 30 1 1 1 1 20

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45758


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