Northisle Copper and Gold (TSXV: NCX; US-OTC: NTCPF) plans to take its North Island copper-gold project on northern Vancouver Island to a prefeasibility study by year-end, CEO Sam Lee said.
A February 2025 preliminary economic assessment pegged the project’s after-tax net present value at $2 billion (US$1.5 billion), at a 7% discount rate, with a 29% internal rate of return and a 29-year mine life. Building the mine’s first stage is expected to cost $1.1 billion and a second stage is to double throughput to 80,000 tonnes per day.
“We’re going to be given the confidence by the market to be able to walk and chew gum at the same time – value and growth,” Lee told The Northern Miner’s Western Editor, Henry Lazenby, at a recent Vancouver industry event.
Northisle expects infill results on the Northwest Expo deposit this quarter and is drilling Red Dog in the second, while a property-wide exploration plan is due soon. Lee sees legacy roads, power and ports left from a century of logging and mining, including BHP’s (ASX, LSE: BHP) Island Copper mine, as an edge for permitting and construction.
Watch the full interview below:
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