NRED Identifies Priority Deep Copper-Gold Drill Target at Wilmac Copper-Gold Project
NRED refines a deeper Eagle drill target at Wilmac but has fallen behind on $325,000 of option payments that could end its project rights.
Rhea-AI Summary
NRED Intelligent Mining (NREDF) has advanced the Eagle target at its Wilmac copper-gold project in British Columbia as a priority deep drill target after integrating historical drilling, re-sampling, magnetic data and 3D IP modelling.
Historical 2014 holes stopped roughly 107–231 metres above modelled IP chargeability peaks at 300–450 metres depth, while copper values and alteration strengthened downward. Re-logging in 2024 outlined broader copper-bearing intervals, including 26.83 metres averaging 381 ppm copper in WS14-002 and 24.16 metres averaging 262 ppm copper in WS14-001. NRED proposes, subject to access, to deepen Eagle hole WS14-004 by about 250 metres and collect downhole geophysical and full multi-element data, though no drilling is scheduled before the 2027 field season and any work would be subject to financing.
The company has not made required cash and exploration payments totalling $325,000 under its option agreements, which are now not in good standing and may be terminated on seven days’ notice.
Positive
- Deeper Eagle target defined with IP chargeability peaks at 300–450 m below historical drilling
- Re-logging identified broader copper intervals, including 26.83 m at 381 ppm Cu in WS14-002
- NRED plans to deepen hole WS14-004 by ~250 m with downhole geophysical measurements
Negative
- Missed required payments of $125,000 (Sept 1, 2026) and $200,000 (Aug 31, 2026) under Wilmac option agreements
- Wilmac option agreements are not in good standing and may be terminated on seven days’ notice
- No drill program is scheduled before the 2027 field season and any program is subject to financing
- Current copper intercepts do not establish economic mineralization and no resources or reserves are identified
AI-generated analysis. How Rhea-AI works. Not financial advice.
Historical Drilling Stopped up to 231 Metres above the Modelled IP Target as Copper and Alternation Strengthened at Depth
Vancouver, British Columbia--(Newsfile Corp. - September 9, 2026) - NRED Intelligent Mining Inc. (CSE: NRED) (OTCQB: NREDF) ("NRED" or the "Company") is pleased to announce that an integrated review of historical drilling, re-sampled drill core, magnetic susceptibility data, and 3D induced-polarization ("IP") modelling has advanced the Eagle target as a priority deep drill target at the Wilmac Copper-Gold Project in British Columbia.
The key finding is straightforward: historical drilling stopped before reaching the strongest modelled geophysical target. The 2014 drill holes ended approximately 107 to 231 metres above their modelled chargeability peaks, which occur broadly between 300 and 450 metres depth. Importantly, the better historical holes also showed increasing copper values and alteration toward the bottom of the holes. At the Eagle target, hole WS14-004 ended at only approximately 133 metres depth, while the modelled chargeability response strengthens significantly below the hole. NRED is therefore proposing to deepen the existing Eagle hole by approximately 250 metres, subject to confirming that the hole remains open and accessible.
"Eagle gives us a clear target and a clear test," said Brian Goss, Chief Executive Officer of NRED. "The previous drilling stopped well above the strongest modelled target, while copper, alteration and geophysical evidence point deeper. Rather than speculate, our objective is simple: drill deeper and test the target."
Historical Drilling Shows Increasing Copper at Depth
Four diamond drill holes totaling approximately 728 metres were completed in 2014 across the Bolas, Trojan, Raven and Eagle targets. Re-logging and re-sampling of the historical core in 2024 identified broader copper-bearing intervals than recognized by the original selective sampling, including:
* 26.83 metres averaging 381 ppm copper in WS14-002, including 3.13 metres averaging 1,084 ppm copper
* 24.16 metres averaging 262 ppm copper in WS14-001
The better mineralized holes show copper and alteration strengthening downward. These results do not establish economic mineralization, but support testing below the depth reached by the historical drilling.
Multiple Data Sets Point to a Deeper Target
The Company's integrated review places the principal area of interest significantly below the historical drilling. The modelled IP chargeability peaks occur broadly between 300 and 450 metres depth. Independent magnetic interpretations provide a similar depth range, including airborne modelling indicating approximately 290 to 410 metres and 3D ground magnetic modelling placing a susceptible body near 400 metres.
Forward modelling indicates that a shallow source can explain part of the observed IP response. However, the deeper model provides the better explanation for the strongest anomalous readings. The deeper target remains an exploration interpretation that can only be confirmed through drilling.
Core Measurements Strengthen the Geological Model
NRED collected 679 magnetic susceptibility measurements from the historical drill core during the 2024 program. Across approximately 250 matched intervals, magnetic susceptibility decreased as sulphur increased, with median susceptibility falling by roughly three times between low-sulphur rock and intervals containing more than
Subject to confirming access to the historical hole, NRED proposes to deepen WS14-004 by approximately 250 metres and conduct downhole IP, resistivity and magnetic susceptibility measurements together with complete multi-element and gold analysis. The program will be designed to answer a fundamental exploration question: does the shallow altered and pyritic system encountered in historical drilling strengthen into a more significant sulphide-bearing system at depth? No drill program is currently scheduled and would not occur prior to the 2027 field season at the earliest and would be subject to financing.
Option Agreement Status
The Wilmac copper-gold project comprises 16,078 hectares located southwest of Princeton and approximately 10 kilometres west of Hudbay Minerals Inc.'s producing Copper Mountain Mine. NRED hold an interest in the Project pursuant to two option agreements concerning what are known as (1) the Wilmac and Lamont claims and (2) the Trojan-Condor Corridor claims.
The Company was required to make a
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 NRED Intelligent Mining Inc.
NRED Intelligent 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.
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 NRED INTELLIGENT MINING INC.
Brian Goss
Chief Executive Officer
E: info@NREDmining.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, which were used to identify the Eagle drill target on the Wilmac Project, including the timing and details of anticipate work, such as drilling, as well as the process and timing for obtaining results; the inference that the historical data that the Company has analyzed to date, as interpreted, suggest that the Wilmac Project may potentially host economic quantities of copper; 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 interpretation of data 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 and subsequent analyses; the ability of the Company's geophysical contractors and geological consultants 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 interpretations described are not ultimately accurate; additional exploration and 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/313588
FAQ
What historical copper intervals did NRED identify in the 2014 Wilmac drilling?
Re-logging and re-sampling in 2024 outlined broader copper-bearing zones than originally recognized, including 26.83 metres averaging 381 ppm copper in hole WS14-002, with 3.13 metres averaging 1,084 ppm copper, and 24.16 metres averaging 262 ppm copper in WS14-001. These intervals show copper and alteration strengthening downward but do not establish economic mineralization.
How does the geophysical data support a deeper target at Eagle?
Modelled IP chargeability peaks occur broadly between 300 and 450 metres depth, below the 2014 drill holes that ended 107–231 metres above these peaks. Independent magnetic interpretations suggest a similar depth range, with airborne modelling indicating approximately 290–410 metres and 3D ground magnetic modelling placing a susceptible body near 400 metres. Forward modelling indicates a deeper source better explains the strongest IP anomalies.
What future work does NRED propose at the Eagle target?
Subject to confirming that historical hole WS14-004 is open and accessible, NRED proposes to deepen the hole by approximately 250 metres and conduct downhole IP, resistivity and magnetic susceptibility measurements, along with complete multi-element and gold analysis. The program is intended to test whether the shallow altered and pyritic system strengthens into a more significant sulphide-bearing system at depth.
What is the status of NRED’s option agreements on the Wilmac project?
NRED was required to pay $125,000 in cash by September 1, 2026 for the first option agreement, and $100,000 in cash plus $100,000 in exploration expenditures by August 31, 2026 for the second agreement. These payments were not made, so the option agreements are not in good standing. The optionors have not yet issued a termination notice but may do so on seven days’ notice.
What did NRED learn from magnetic susceptibility measurements on historical core?
NRED collected 679 magnetic susceptibility measurements in 2024. Across about 250 matched intervals, magnetic susceptibility decreased as sulphur increased, with median susceptibility dropping by roughly three times between low-sulphur rock and intervals containing more than 0.5% sulphur. The company states that this supports a model where sulphidation destroys magnetite and helps justify using localized magnetic lows as a potential alteration indicator in the Trojan-Condor system.
Has any mineral resource or reserve been defined at the Wilmac copper-gold project?
No. The company states that the geological interpretations are conceptual, rely in part on historical third-party data that have not been independently verified, and that no mineral resources or mineral reserves have been identified on the project.