NorthIsle Copper and Gold Inc. ("Northisle") is a Vancouver based junior resource company committed to the exploration and development of the North Island Project on Northern Vancouver Island. The North Island Project surrounds the reclaimed BHP Island Copper Mine approximately 15-40 kilometres southwest of Port Hardy and contains a number of copper-gold porphyry systems.
Northisle was created to facilitate a plan of arrangement initiated by Western Copper Corporation, a TSX and NYSE AMEX listed company. With completion of the plan of arrangement on October 17, 2011, the Island Copper-Gold Project along with $2.5 million was transferred from Western Copper to Northisle. The shares of Northisle were listed for trading on the TSX Venture Exchange [symbol NCX] on October 24, 2011.
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North Island Copper Project
The North Island Project covers 60 km of a highly prospective porphyry copper district with one confirmed deposit and 4 other mineralized occurrences including the NW Expo and Hep zones. In addition there are a number of untested or partially tested geochemical and geophysical anomalies. The area of the property has excellent infrastructure including the marine load-out, a network of logging access roads and the main BC Hydro power grid.
The Hushamu project is located within a region that has traditionally seen successful mine development and award winning environmentally sound mine decommissioning practices. The Hushamu deposit has indicated resources of 230.9 million tonnes grading 0.27% copper and 0.31gpt gold.
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NorthIsle Copper and Gold Inc. was incorporated on August 18, 2011 as a private as part of the process to create a publicly traded company through a plan of arrangement transaction from Western Copper Corporation as announced on June 23, 2011. The arrangement involved the transfer of 100% of Western Copper's interest in the North Island Copper-Gold Project and $2.5 million in cash to NorthIsle Copper and Gold Inc.
See August 18, 2011 News Release