Northisle Announces Significant Increase to North Island Resource Estimate
NorthIsle’s indicated resources rose 36% to 1.2 billion tonnes containing 10.1 billion pounds of copper equivalent as a preliminary feasibility study remains on track for the first quarter of 2027.
NorthIsle Copper and Gold Inc. (NCX) released an integrated 2026 Mineral Resource Estimate for the North Island Project, dated August 6, 2026. The Indicated Resource increased by 330 million tonnes, or 36%, to 1.2 billion tonnes grading 0.14% Cu, 0.22 g/t Au, 79.5 ppm Mo, and 0.44 ppm Re. Contained Indicated copper rose 22% to 10.1 billion lbs CuEq, equivalent to 16.2 million oz AuEq.
The update incorporates drilling at Northwest Expo, Red Dog, West Goodspeed, and Hushamu, applying a $11/tonne NSR cut-off with elevated long-term metal prices: Cu $4.82/lb, Au $3,587/oz, Mo $20/lb, and Re $2,000/lb. Inferred Resources stand at 260 million tonnes.
The company reiterates the PFS target of Q1 2027 and outlines near-term catalysts, including Q3 2026 regional drilling, an H2 2026 initial project description filing, and a BC Hydro system impact study.
NorthIsle Copper and Gold Inc. (NCX) has updated its resource estimates for the North Island Project, reporting a 36% increase in tonnage and a 22% growth in contained copper equivalent. The expansion is attributed to successful infill drilling at Northwest Expo, which saw Indicated tonnage rise by 133%; Red Dog, where contained CuEq increased by 30%; West Goodspeed, which added 113 million tonnes; and Hushamu, which contributed 927 million tonnes of Indicated material, including a shallow higher-grade core.
The resource model utilized a copper price of $4.82/lb, higher than the $4.20/lb used in the 2025 Preliminary Economic Assessment (PEA). This valuation supports a higher net smelter return (NSR) value and expands the volume of material meeting the $11/t cut-off. The company noted that a retreat in copper prices would reduce the resource size.
Drilling results from 2025 and 2026 included multiple intercepts exceeding 100 meters at greater than 0.8% CuEq at Red Dog and greater than 1 g/t AuEq at Northwest Expo. The integrated Indicated resource now totals 10.1 billion pounds of CuEq, exceeding earlier estimates. NorthIsle maintains its Preliminary Feasibility Study (PFS) timeline for Q1 2027. No new strategic investor or takeover was announced.
NorthIsle Copper and Gold Inc. owns the 100%-owned North Island Project on northern Vancouver Island, BC, a large porphyry copper-gold-molybdenum-rhenium district covering more than 34,000 hectares. The project lies within a 50km historic porphyry belt, adjacent to the past-producing BHP Island Copper mine. Three main deposits – Hushamu, Red Dog, and Northwest Expo – plus the emerging West Goodspeed and Cougar targets have been identified.
A February 2025 preliminary economic assessment (PEA) demonstrated an after-tax NPV₇% of $2.0 billion and 29% internal rate of return (IRR) at base-case metal prices, with a 29-year mine life. The company is advancing towards a pre-feasibility study (PFS), now expected in Q1 2027. The project benefits from existing infrastructure, including a power line and deep-water port, and strong provincial government support via the BC Critical Minerals Office.