Announcement • Jun 17
Novared Mining Announces Planned 2026 Field Program At Wilmac Copper-Gold Project
NovaRed Mining Inc. announced its planned 2026 field program on its 100%-optioned Wilmac Copper-Gold Project, located within the Quesnel porphyry belt in the Similkameen Mining Division of British Columbia, approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine. The 2026 field program at the Wilmac Copper-Gold Project comprises three complementary components: an expanded soil sampling campaign building on the Company's successful 2025 pXRF program; four Induced Polarization/Audio-Frequency Magnetotelluric (IP/AMT) geophysical surveys across the North Lamont, West Lamont, Wilmac, and Plume grids; and an initial drill program, subject to receipt of an approved drill permit currently being acquired from the previous operator. Each component is designed to build on and integrate with the others, systematically advancing the Company's evaluation of the alkalic copper-gold porphyry potential of the Project. The Company plans to continue its successful soil sampling program along the extensive forestry road network across the Project. A total of 970 soil samples were collected and analyzed using a portable X-Ray Fluorescence (pXRF) base station. Analytical results obtained support continued acquisition of information from soil samples. In particular, soil samples are proposed for acquisition from forestry roads in the North Lamont grid area, from which anomalous copper values were obtained from samples taken in 2024, the Lamont grid area from which analysis of samples utilized an Aqua Regia (partial digestion), rather than a four acid (near total digestion). Samples proposed for acquisition in 2026 will replace results obtained using the Aqua Regia digestion to provide consistency with samples obtained in 2025, resulting in a uniform database, and around the Plume grid area to provide an extensive geochemical database with which to further assess and evaluate the extensive iron carbonate – silica alteration documented there. In addition, the resulting analytical data will support evaluation of a potassium anomaly identified by the previous operator in the area west of the Plume grid (anomalous potassium potentially being indicative of potassic alteration, which may, in turn, delineate the high-grade mineralized core of an alkalic porphyry system), and the west side of the West Lamont Complex (east of Arrastra Creek) where a comparatively large gabbroic exposure has been mapped. Samples recovered in this area would allow initial evaluation of alteration and, potentially, mineralization associated with the interpreted intrusive complex. In addition, soil samples are proposed for acquisition along the proposed and completed geophysical survey lines, providing geochemical results directly correlatable with underlying anomalous geophysical results. These data are expected to provide a valuable geochemical signature with which to identify areas overlying potentially anomalous geophysics which have not been surveyed and which may delineate additional priority target areas for subsequent geophysical surveys. Soils samples recovered from the Project in 2025 will be submitted to ALS Chemex in North Vancouver for four acid digestion followed by multi-element Inductively Coupled Plasma analysis. The resulting analytical database would be broadly comparable to, and consistent with, B Horizon samples recovered and analyzed by the previous operator, resulting in a single B Horizon geochemical database for the Project. Furthermore, analysis of these data in combination with pXRF readings is expected to yield a linear regression calibration for elements of interest, allowing pXRF field readings to be expressed as estimated laboratory-equivalent concentrations in near real time. Results derived from the calibration equation are treated as indicative, pending confirmation by conventional four-acid ICP assay. As a result, anomalous geochemical results could be followed up within a single field season, at a more cost-effective rate. The proposed 2026 program will include four geophysical surveys on the North Lamont, West Lamont, Wilmac, and Plume survey grids, designed to systematically expand and infill the Company's geophysical coverage across the Project. Upon completion, the North Lamont and West Lamont data will be merged with the previously completed Lamont survey, resulting in a single, integrated dataset of the geophysical response in an interpreted alteration and mineralized halo for the eastern portion of the West Lamont Intrusive Complex. In addition, the Company anticipates receipt of the Audio Frequency Magnetotelluric (AMT) results from the partially completed Wilmac Survey. Furthermore, the remainder of the Wilmac survey will be completed, expected to return additional IP and AMT anomalies in this high priority target area on the Project. The fourth survey, on the Plume grid, targets two separate and distinct iron carbonate–silica alteration zones approximately four kilometres south-southwest of the Wilmac survey. These large and extensive alteration zones are interpreted to represent hydrothermal alteration driven by a large underlying intrusive complex. Work in the Ridgeway – Cadia area, New South Wales, Australia, together with comparisons to alkalic deposits documented in British Columbia, supports the interpreted significance of these iron carbonate – silica alteration zones. At Mount Milligan, a dolomite – ankerite – sericite – alkali feldspar – albite alteration cap is partially preserved in the 66 Zone, interpreted as a remnant of a "carbonate – phyllic" overprint. The spatial association of this alteration with a small exposure of diorite is interpreted to support diorite as the causative source of the alteration and may be indicative of alkalic epithermal-style alteration analogous to that documented in other alkalic porphyry systems. The Company is planning an initial drill program and is in the process of acquiring the approved drill permit held by the previous operator.
