Kamloops, British Columbia — January 20, 2026 — Leads & Copy — North Valley Resources Ltd. (CSE: NVR) has announced new compilation and interpretation work for its Comstock Project near Merritt in southern British Columbia.
The fully-permitted Comstock Project spans 4,462 hectares and includes 33 highly mineralized historic showings. The project represents the first consolidation of this district-scale copper system under a single company.
Recent geological modeling, building on encouraging historic drilling (1988) at the Original-Diane Zone, has identified high-priority geophysical targets that were previously unknown to the 1988 drill program. The targets offer significant, untested copper-gold potential at depth in a region near some of British Columbia’s most productive copper mines.
According to North Valley Resources, the limited 1988 drill program at the Original-Diane Zone was conducted when copper prices were depressed, which constrained exploration budgets. Several intercepts reporting copper values exceeding 1.0% were never re-assayed, and only 22% of the drill core was sampled.
Despite the shallow drilling and limited analytical work, the program returned encouraging copper and gold intercepts, underscoring the strong underlying potential of the Original-Diane Zone.
The Comstock property is located adjacent to the Coquihalla highway, 10 kms south of Merritt, B.C. Nearby mines include Teck Resources’ Highland Valley Copper Mine, Hudbay Minerals’ Copper Mountain Mine, and New Gold’s New Afton Mine. Recent discoveries near the Comstock property include Kodiak Copper’s MPD Property (approx. 15 kms to the southeast) and Westhaven Gold’s Shovelnose Property (approx. 13 km to the south).
North Valley Resources CEO Ken Ellerbeck said the company is well-positioned to advance follow-up drilling on the historic work and assess the continuity of copper-gold mineralization at depth with a 100-site drill permit now secured. Ellerbeck added that the program will also target recently identified geophysical anomalies beneath the Original-Diane and South zones, providing a clear path to unlocking the Project’s deeper exploration potential.
The Comstock Project is located in southern B.C.’s mining country, at the crossroads of the Quesnel Terrane and the Spences Bridge Gold Belt, a geological setting that supports epithermal gold and porphyry copper-gold deposit potential.
The property benefits from access and infrastructure, including proximity to the Coquihalla Highway, existing internal road networks, and year-round exploration capability. The project is within trucking distance of multiple producing mines and milling facilities, including Highland Valley Mine (Anglo Teck), New Afton Mine (New Gold), and Copper Mountain (Hudbay), which reduces exploration and potential development risk.
Comstock is situated within the Western portion of the Nicola Volcanic Group, a geological package within the Quesnel Terrane that hosts some of British Columbia’s copper-gold porphyry systems. Recent work on the Comstock property has identified a ~8 km x 3 km mineralized corridor that shares geological and geophysical similarities with neighboring copper-gold porphyry and epithermal-gold systems within the Quesnel Terrane of British Columbia.
Mineralization is hosted in quartz veins containing specular hematite, chalcopyrite, bornite, and copper oxides. Fourteen separate showings have returned copper assays exceeding 1.0% Cu. Eight showings report gold assays greater than 2.0 g/t Au, with a small number of samples yielding values, including four showings exceeding 19 g/t Au and a maximum reported assay of 56 g/t Au. Visible gold has been observed locally within the historic Original–Diane showing.
In 1988, a nine-hole drill program totaling 570 metres was completed at the Original–Diane showing. The drilling reached a maximum depth of approximately 90 metres and returned several encouraging copper and gold intercepts.
The project was abandoned due to collapsing copper prices and the closure of the nearby Craigmont Mine.
The 1988 drill program intersected fractured, mineralized zones characterized by quartz and silicified volcanics, with widespread limonite boxwork and patchy pyrite overprinting chloritic volcanics containing specular hematite. North Valley interprets these veins as potentially forming within the lithocap of an underlying mineralized porphyry system.
Between 2021 and 2025, final claim consolidation was completed, followed by the first comprehensive magnetic and induced-polarization (IP) geophysical surveys across the property. These geophysical surveys revealed multiple previously unrecognized magnetic and induced polarization (IP) anomalies, highlighted by a chargeability anomaly exceeding 400 m in strike length. The anomaly is positioned beneath the Original-Diane zone and remains open to the southwest of the historic 1988 drill program, indicating potential for expansion. The chargeability feature extends into the South Zone, where historic trench sampling returned copper grades of 0.45% Cu over 2 m and 0.20% Cu over 7 m.
Recent fieldwork has validated the presence of mineralization and alteration characteristic of porphyry and epithermal systems.
Kris Raffle, P.Geo., an independent contractor of the Company, reviewed and approved the technical content of this news release.
Quinn Ellerbeck, CFO, Director can be contacted at quinn@lacombeventures.com.
Source: North Valley Resources
