Northwest Copper starts metallurgy testing at Kwanika

Executive Summary

• Northwest Copper Corp. has launched a follow‑up metallurgical testing program at its wholly owned Kwanika project to improve copper and gold recoveries beyond the 2023 PEA figures (gold recovery = 65.6%).
• The program, managed by Canenco Consulting Corp., will evaluate finer grind sizes, flotation optimization, potential leaching of flotation tails, and ore‑sorting techniques to boost overall metal recovery and reduce mining dilution.
• Concurrently, the company granted 700,000 stock options to its non‑executive directors (exercise price = C$0.315 per share; vesting over two years).

Key Details

• Program Initiation: Samples from Kwanika have been shipped to and received by Canenco’s laboratory to begin the metallurgical testing series.
• Objective: Assess metallurgical response at varying grind sizes (including finer than the 100 µm primary grind used in the 2023 PEA) and optimize flotation flowsheets for both copper and gold.
• Potential Additional Tests: Gold leaching on flotation tails if warranted; evaluation of ore‑sorting to manage dilution during bulk mining.
• Historical Context: 2023 PEA reported gold recoveries of only 65.6%; copper responded well to conventional flotation. Canenco identified gaps offering opportunities for higher recoveries.
• Management Comments:
• CEO Paul Olmsted highlighted the opportunity to “significantly enhance recoveries” and improve project economics.
• VP Geoff Chinn noted that finer grinding could liberate more mineral content, potentially boosting metal recovery and enabling low‑cost bulk mining with ore sorting.
• Equity Incentive Grant: 700,000 stock options issued to non‑executive directors; exercise price C$0.315; vesting schedule – one‑third immediate, one‑third after 12 months, final third after 24 months.
• Qualified Persons: Geoff Chinn (VP Business Development & Exploration) and Stacy Freudigmann (MD, Canenco) have reviewed and approved the technical aspects per NI 43‑101 standards.

Notable Quotes

“The recognition of higher‑grade zones of mineralization at Kwanika together with a more detailed understanding of the mineralogy creates opportunities to significantly enhance recoveries over those reported in the 2023 PEA.” – Paul Olmsted, CEO

“Grinding plant feed down to the size of the minerals hosting copper and gold can liberate more minerals and potentially make them available to be recovered by flotation.” – Geoff Chinn, VP Business Development & Exploration