NovaRed Confirms Resistivity Anomaly and Defines 42-Hectare Chargeability Target Open to the North at Wilmac
Rhea-AI Summary
NovaRed Mining (CSE: NRED, OTCQB: NREDF) reported results from expanded 3D induced polarization and audio-magnetotelluric surveys on the Lamont grid at its Wilmac copper-gold project in British Columbia. Evaluation outlined a buried resistive body with a median top depth of about 293 metres, interpreted as an intrusive complex, and a large chargeability anomaly of roughly 42 hectares at 300 metres depth, exceeding 25 milliseconds versus an 11-millisecond background. The chargeability target is strongest in the northeast of the grid and remains open to the north. NovaRed emphasized that the Lamont target is blind, drilling will be required to determine geology and metal content, and no mineral resources or reserves have been defined.
Positive
- 42-hectare chargeability anomaly >25 ms at ~300 m depth
- Buried resistive body median top depth ~293 m supports intrusive model
- Chargeability system remains open to the north-northwest
- Parallel chargeable bodies extend ~1.5–2 km at ~100 m depth
- Deep-penetrating 3DIP and AMT refine Lamont Ridge geological model
Negative
- Lamont target is blind with weak surface geochemical expression
- IP chargeability cannot distinguish copper sulphides from barren pyrite
- Drilling required to determine geological source and metal content
- Deep model levels carry greater uncertainty in IP inversion results
- No mineral resources or reserves identified on the Wilmac project
- Interpretations conceptual and partly based on unverified historical data
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - August 13, 2026) - NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF) ("NovaRed" or the "Company") is pleased to report results from an expanded evaluation of three-dimensional induced polarization ("3DIP") and audio-magnetotelluric ("AMT") data from the Lamont grid at its Wilmac Copper-Gold Project (the "Project") in British Columbia's Quesnel porphyry belt, approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine.
The new evaluation has strengthened NovaRed's geological model at Lamont Ridge by identifying two key features:
- A buried resistive body with a median top depth of 293 metres, consistent with the interpretation of an underlying intrusive complex; and
- A large chargeability target exceeding 25 milliseconds over approximately 42 hectares at 300 metres depth, which remains open to the north.
At shallower depths, the chargeability response occurs as several parallel, northwest-trending bodies. These bodies extend approximately 1.5 to 2 kilometres and appear to merge with depth into a larger chargeable mass positioned above the interpreted intrusive complex.
"The Lamont data give us two important components of a blind porphyry target: an independently supported intrusion top and a large chargeability system directly above it," said Brian Goss, Chief Executive Officer of NovaRed Mining Inc. "The target remains open to the north-northwest, and our proposed North Lamont geophysical program is designed to determine how much farther this system extends."
Lamont Grid Highlights
The Lamont grid covers approximately 2.9 by 2.2 kilometres on Lamont Ridge, approximately 2.4 kilometres north-northeast of the Wilmac grid. The Company's initial evaluation of the Lamont survey was reported in its May 13, 2026 news release. Further analysis of the 3DIP and AMT datasets has now provided additional detail on the geometry and depth of the interpreted system.
Intrusive Complex Supported at Depth
AMT data show a significant increase in ground resistivity between approximately 200 and 400 metres depth. The median depth to strongly resistive rock exceeding 1,000 ohm-metres is approximately 293 metres across the grid. This is consistent with the interpretation that the top of a buried intrusive complex occurs approximately 250 to 300 metres below Lamont Ridge and provides an independent dataset supporting the Company's geological model.
42-Hectare Chargeability Target
At approximately 100 metres depth, the 3DIP model identifies three to four parallel northwest-trending chargeable bodies, each extending approximately 1.5 to 2 kilometres. With increasing depth, these responses appear to coalesce at depth and toward the northwest into a much larger chargeability anomaly. At approximately 300 metres depth, the model defines an area of approximately 42 hectares exceeding 25 milliseconds, compared with a grid background of approximately 11 milliseconds. The response is strongest within the northeastern portion of the grid and remains open at the northern survey boundary.
Blind Geophysical Target
The chargeability system has weak surface geochemical expression and no corresponding radiometric expression identified on the grid. The strongest geophysical response occurs beneath surface cover, reinforcing NovaRed's strategy of using deep-penetrating geophysical methods to identify potential buried porphyry targets across Lamont Ridge. Chargeability measures the ability of subsurface material to temporarily hold an electrical charge and can be associated with sulphide minerals. Importantly, IP chargeability cannot distinguish copper-bearing sulphides from barren sulphides such as pyrite.
Drilling will therefore be required to determine the geological source and metal content, if any, of the Lamont chargeability anomalies. The apparent strengthening of the anomaly at depth may also be influenced in part by effects inherent in IP inversion modelling, and interpretations at the deepest model levels carry greater uncertainty. NovaRed's proposed North Lamont geophysical survey is designed to extend coverage beyond the existing northern boundary and determine the full extent of the open chargeability system.
Qualified Person
The scientific and technical information in this news release, including the geological interpretations described herein, has been reviewed and approved by Rick Walker, P.Geo., a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). Mr. Walker is not independent of the Company within the meaning of NI 43-101. The interpretations described above are conceptual and rely in part on historical, third-party data that the Company has not independently verified. No mineral resources or mineral reserves have been identified on the Project.
About NovaRed Mining Inc.
NovaRed Mining Inc. (CSE: NRED) (OTCQB: NREDF) is a mineral exploration company focused on the identification, acquisition, exploration and development of copper-gold porphyry projects in British Columbia, leveraging an artificial intelligence-enhanced geospatial technology platform that it developed to identify and evaluate prospective mineral properties. The Company's optioned Wilmac copper-gold project comprises 16,078 hectares located within the Quesnel porphyry belt in the Similkameen Mining Division, southwest of Princeton and approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine. For more information, visit novaredmining.com.
Readers are cautioned that the discussion of mineralization, alteration or grades on adjacent, similar or analogous properties, including the Copper Mountain Mine, is not necessarily indicative of the mineralization or potential of the Wilmac Copper-Gold Project. The Company has no interest in, or right to acquire any interest in, any such properties.
ON BEHALF OF NOVARED MINING INC.
Brian Goss
Chief Executive Officer
E: info@novaredmining.com
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements regarding: the interpretation of geological, geochemical and geophysical data, including the 3DIP and AMT data sets; the interpretation of data suggesting the potential for the Lamont Ridge region of the Wilmac Project to host an underlying intrusive complex; the suggestion that the Lamont chargeability anomalies indicate the potential for mineralized zones; and the Company's intention and ability to satisfy the cash payment, share issuance and exploration expenditure milestones required to exercise the option agreements respecting the Wilmac Project.
Forward-looking information is based on a number of assumptions that, while considered reasonable by the Company at the date of this news release, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Such assumptions include, without limitation: the accuracy of current geological interpretations, including the deposit-model analogy described in this news release; the accuracy and completeness of the third-party historical data on which the interpretation rests; the availability of adequate funding to complete the proposed exploration; the ability of the Company's geophysical contractors to complete contemplated exploration on schedule; favourable weather, terrain and field conditions; access to the Project area; the availability of qualified personnel; the receipt of all necessary permits and authorizations for planned exploration; and the continued cooperation of the optionors under the terms of the relevant option agreements.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. Important risk factors include, but are not limited to: the possibility that the 2026 survey results and ultimate drilling do not support the interpretation described; the continued availability of capital and financing; the ability to satisfy option earn-in requirements on the timelines contemplated; risks inherent in mineral exploration; adverse weather or terrain conditions; tenure grant, renewal and permitting outcomes, including under British Columbia's revised mineral tenure system; Indigenous and community consultation requirements; changes in applicable laws and regulations; the ability to retain key personnel and contractors; litigation; failure of counterparties to perform their contractual obligations; and general economic, market or business conditions. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by applicable securities laws.
Neither the CSE nor its Market Regulator (as that term is defined in CSE policies) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/309458