ArcWest Exploration (TSX-V: AWX) is pleased to report initial drill results from 2022 drilling on its Oweegee Dome Porphyry Copper-Gold (Cu-Au) Project located within British Columbia's renowned Golden Triangle.
Partner Sanatana Resources (TSX-V: STA) completed a large program of mapping, rock and soil geochemical sampling, spectrographic, induced polarization (IP) and diamond drilling at Oweegee in 2022, including 3679 meters of drilling in twelve drill holes. ArcWest optioned the Oweegee Project to Sanatana in July 2021; details of the earn-in agreement are available in an ArcWest press release dated July 21, 2021. Results of the 2022 IP program were reported by Sanatana in a press release dated December 12, 2022, and initial drill results for drill hole OW22-08 were reported by Sanatana in a press release dated December 19, 2022.
The Oweegee Cu-Au Project covers a 152 square kilometer structural dome exposing a thick section of Stikine terrane strata. Stikine terrane is host to numerous large copper-gold deposits, including Red Chris (Newcrest Mining-Imperial Metals), Saddle North (Newmont Mining), Galore Creek (Newmont Mining-and Teck Resources), and KSM-Iron Cap (Seabridge Gold), among others. The Oweegee Project is approximately 45 km east of Seabridge Gold's giant KSM-Iron Cap porphyry Cu-Au deposits as well as Tudor Gold's Treaty Creek Au-Ag-Cu project. Collectively, the KSM-Iron Cap and Treaty Creek deposits represent one of the largest Au-Cu concentrations in North America. Contained metal within proven plus probable reserves at KSM-Iron Cap total 38.8 million ounces (oz) Au, 183 million oz Ag and 10.2 billion pounds of copper. Tudor recently released a measured plus indicated resource estimate of 17 million oz Au and 93 million oz Ag
Mapping and sampling in the Upper Bear Valley northeast of the Delta Zone resulted in discovery of a new zone of porphyry-style stockwork quartz-chalcopyrite veining in porphyritic monzonite.
Rock samples from this new untested zone returned assays up to 0.42% Cu and 0.44 g/t Au and 0.29% Cu and 0.55 g/t Au ArcWest President & CEO Tyler Ruks commented: 'Sanatana's 2022 exploration program demonstrates that the broader Deltaic Creek area is underlain by a highly underexplored porphyry Cu-Au system of significant size, with predominantly breccia hosted porphyry Cu-Au occurrences present over an area of approximately 10 square kilometres. Widespread, phreatomagmatic-like polymictic breccia contains Cu-Au mineralized intrusive clasts, including strongly Cu-Au mineralized porphyritic intrusive clasts at the Molloy target. This suggests that the broader Deltaic Creek area is underlain by the remnants of a Late Triassic maar-diatreme complex. This, coupled with the presence of variably brecciated, strongly clay-pyrite/QSP altered Cu-Au mineralized porphyritic intrusive rocks intersected in the 2022 drill program, suggests that the Deltaic Creek area represents the upper parts of a shallowly eroded porphyry Cu-Au system. Potential therefore exists, down plunge of the Cu-Au mineralized clast bearing breccias and QSP/clay-pyrite altered, Cu-Au mineralized porphyritic intrusions, for the discovery of a porphyry Cu-Au deposit. The recognition of diatreme hosted or sourced Cu-Au mineralized porphyritic intrusive clasts has played an important role in the discovery of multiple porphyry Cu-Au deposits globally, including Goldfield's giant Far Southeast deposit in the Philippines. A number of other compelling, earlystage Cu-Au exploration targets outside of the Delta zone exist on the 31,000 hectare Oweegee Dome Property. ArcWest thanks the Sanatana team for their exceptional work in advancing the Oweegee Dome Project to this stage, which has resulted in multiple expressions of interest in the project from major mining companies. We are excited for Sanatana's 2023 Oweegee Dome exploration program. Oweegee Dome is situated approximately 35 km northeast of ArcWest's 100% owned Todd Creek CuAu project, which ArcWest is advancing via a recently announced earn-in agreement with FreeportMcMoRan. ArcWest is in discussions with multiple mining companies regarding potential earn-in agreements for our additional copper-gold projects.'
Molloy Zone
Initial focus of the 2022 drill program was the Molloy Zone, where mapping and rock sampling in 2021 had identified a 145 by 40m zone of sheeted quartz-chalcopyrite veining in a monzonite (quartz latite) porphyry intrusion averaging 0.83 g/t Au, 0.343% Cu and 4.2 g/t Ag (15 rock samples, see ArcWest press release, May 5, 2022). Six drill holes tested the Molloy Zone, with five holes (OW-2022-03, 04, 05, 06, and 07) drilled from a pad on the southern toe of the Molloy outcrop area, and one (OW-2022-01) drilled from a ridge 175m to the west towards the Molloy outcrop. Five of the six 2022 drill holes intersected narrow zones of mineralized monzonite porphyry and monzonite breccia, similar to, but lower grade than the mineralization sampled at surface. Mineralization in the monzonite porphyry consists of undulating, smoky quartz-chalcopyrite 'A' veins, local chalcopyrite disseminations, and late chalcopyrite-bearing calcite veins, accompanied by patchy or fracture controlled potassic alteration overprinted by phyllic to sericite-chlorite alteration. Two drill holes (OW-2022-01 and OW-22-05) intersected mineralization in polymictic breccias. These breccias are widespread at Oweegee, and range from clast-supported breccias with a variety of intrusive and other clasts, to chaotic/milled matrix-supported muddy matrix diatreme breccias. Some breccia intervals contain strongly altered and Cu/Mo mineralized intrusive clasts, which may have been transported from a deeper porphyry source. A broad interval of polymictic breccia at depth in OW-22- 01 (320.17-384.30m) contains unusual jasper and strongly hematized clasts as well as intervals of strong hematite-silica alteration
Induced Polarization Survey
The 2022 geophysical program included approximately 8 line-kilometres of Induced Polarization (IP) surveying, using Dias Geophysical's distributed array deep IP ('DCIP') survey system. The program was completed between July 15 and September 21, and extended the 9 line-kilometres of IP completed in 2021 to the south and west. The Dias DCIP system provides full, high quality, and high-resolution 3-D resistivity and induced polarization models of the subsurface. The 3-D model shows information from surface level around 1,500 metres above sea level ('asl') to about 400 metres asl (1,100 metres in depth). The 3-D model provided by Dias integrating the 2021 and 2022 IP programs outlines five significant chargeability anomalies, including the Crescent / Delta Zone anomaly, and four large, deeper chargeability IP anomalies along an arcuate trend south and west of the Delta Zone. The five anomalies include: 1. Crescent / Delta: 200 m x 500 m, near surface; 2. Snowpatch: 400 m x 300 m, 400m below surface; 3. Jack Creek: 375 m x 400 m, 300m below surface; 4. Junction: 300 m x 750 m, open to the east to surface, mostly 300 m below surface; 5. The Dome: 400 m x 400 m, open to the north 300m below surface (Sanatana Press Release, December 12, 2022). Anomalies 2-5 are untested to date
About ArcWest Exploration Inc.
ArcWest Exploration is a project generator focused on porphyry copper-gold exploration opportunities throughout western North America. The company is in possession of seven 100% owned copper-gold projects throughout BC's premier porphyry copper-gold districts. These include ArcWest's Todd Creek and Oweegee Dome projects, which are two of the largest and most prospective land positions for copper-gold exploration in BC's prolific Golden Triangle. Oweegee Dome neighbours Seabridge Gold's supergiant KSM-Iron Cap-Snowfield porphyry copper-gold deposit and Todd Creek adjoins Pretium's Brucejack mine property. In March of 2022, Newcrest Mining completed the acquisition of Pretium and its high grade Brucejack gold-silver mine in a transaction valued at $3.5 billion. Several ArcWest projects are currently being advanced by partners through earn-in and joint venture agreements; this includes an agreement with mining giant Freeport-McMoRan to advance ArcWest's 100% owned Todd Creek copper-gold project. By conducting partner funded exploration on multiple exploration projects simultaneously, ArcWest's chances of discovery are enhanced while exposing shareholders to minimal dilution. The company is managed by an experienced technical team with a track record of discovery and a reputation for attracting well-funded senior partners, including Freeport McMoRan, Robert Friedland group companies, ITOCHU, Antofagasta and Teck
Contact:
Tel: +1 (604) 638 3695.
Investors are cautioned that ArcWest Exploration Inc. has not verified the data from the KSM-Iron Cap, Treaty Creek, Red Chris, Galore Creek and Saddle North deposits. Further, the presence and style of mineralization on these properties is not necessarily indicative of similar mineralization on the ArcWest Exploration Inc. property. Historical assays from rock sampling and drill programs on its properties have not been verified by ArcWest but have been cited from sources believed to be reliable. This news release contains statements about ArcWest's expectations and are forward-looking in nature. As a result, they are subject to certain risks and uncertainties. Although ArcWest believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof, and ArcWest undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law
ARCWEST EXPLORATION INC. 
