VANCOUVER, BC / ACCESSWIRE / August 27, 2021 / Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR, OTCQB:NLRCF) is pleased to announce the assay results from the four prospect drill holes that have been completed and the results of a rock chip sampling program completed on the northern portion of project claims. The Company also is announcing the commencement of a property wide soil sampling program at Secret Pass Gold Project in Arizona and the Medicine Springs Project.
Secret Pass - Rock/ Soil Sampling Program
From January to February 2021, Northern Lights collected 77 rock chip samples from the vicinity of old workings outside of the Tin Cup Zone as illustrated in Figure 1. The assays results show a high concentration of gold associated with historical workings controlled along a northwest trending series of rhyolitic dykes intruding andesite and granite gneiss (see Table 1).
Significant gold values occur in a strongly altered and fractured zone that extends from Sam's Ridge to Boomerang Lake, a distance of 4000 metres. Limited surface exploration has been undertaken in this favourable alteration zone.
Out of the total number of samples taken over 39 samples assayed over 0.5 grams per tonne gold containing 12 samples assaying over 5 grams per tonne gold containing 5 samples assaying over 10 grams per tonne gold. The highest grade sample assayed was 26.7 grams per tonne gold.
The rock chip samples were assayed at Skyline Laboratories in Tucson. Rocks were fire assayed for Au and Ag with a gravimetric finish with a detection limit of 0.005 and 0.1 grams per tonne respectively. A second sample split was digested in Aqua Regia and analyzed for a 49 element suite by ICP-MS.
On August 19, the company commenced a 900 soil sampling program over the entire license area at Secret Pass. Once collected the samples will be sent to SGS Laboratories in Burnaby, British Columbia for assay using Mobile Metal Ion (MMI) and interpreted at SGS Lakefield, Ontario. The soil sampling program is being completed on a 50m x 200m grid spacing.
Figure 1: Secret Pass Rock Chip Samples
|Prospect Name||Sample Type||Grade (g/t Au)|
|Sams Ridge / Big Mine||Rock Chip Sample||26.70|
|Sams Ridge / Big Mine||Rock Chip Sample||0.54|
|Lion's Paw||Rock Chip Sample||2.21|
|Big Winch Mine Traverse||Rock Chip Sample||2.09|
|Nine Second Shaft||Rock Chip Sample||21.60|
|Nine Second Shaft||Rock Chip Sample||5.62|
|Nine Second Shaft||Rock Chip Sample||4.71|
|Nine Second Shaft||Rock Chip Sample||1.98|
|Nine Second Shaft||Rock Chip Sample||1.18|
|Nine Second Shaft||Rock Chip Sample||3.55|
|Nine Second Shaft||Rock Chip Sample||2.20|
|Tentacles||Rock Chip Sample||16.40|
|Tentacles||Rock Chip Sample||10.10|
|Boomerang||Rock Chip Sample||14.10|
|Boomerang||Rock Chip Sample||8.82|
|Boomerang||Rock Chip Sample||7.44|
|Boomerang||Rock Chip Sample||2.10|
|Boomerang||Rock Chip Sample||1.43|
|Boomerang||Rock Chip Sample||1.29|
|FM Zone||Rock Chip Sample||5.79|
Table 1: Selected Secret Pass Rock Chip Samples
Secret Pass Drilling Update
The Company has received assays from the four holes drilled at Secret Pass (Fiery Squid, Fluorspar Ridge, 9 Second Shaft) that were completed, from April to July 2021 as illustrated in Figure 2.
The two holes drilled at Fiery Squid encountered gold mineralization. The holes drilled at Fluorspar Ridge and 9 Second Shaft did not report any material gold mineralization.
Fiery Squid drill hole #1 encountered mineralization at a depth of 56.2 metres that assayed 9.09 grams of gold per tonne over a sample width of 0.90 meters. This intersection is associated with a thin fracture of manganese with the presence of small grains of visible gold as reported by the Company on May 5, 2021.
Drill hole #2 at Fiery Squid encountered three mineralized intersections with gold values associated with a hydrothermal breccia zone contacts in the upper portion of the hole. The reported assays from this zone included 1.92 g/t gold over 0.9 metres from 21.76m to 22.66 metres, 3.15 g/t gold over 1.0 metres from, 27.3m to 28.3m and 3.74 g/t gold over 0.9 metres from 29.4 to 30.3 m.
The Company has secured the services of a drilling contractor to complete the permitted drill program at the Tin Cup Prospect. Northern Lights is permitted to drill a total of seven holes at Tin Cup where historic reverse circulation returned grade intervals of up to 40 grams per tonne. Drilling at Tin Cup is planned to commence in Q4 2021.
Figure 2 -Secret Pass Project Drill Hole Locations
Northern Lights CEO, Jason Bahnsen commented "While we were hoping for better results from the four prospect holes we drilled at Fiery Squid, 9 Second Shaft and Fluorspar Ridge, the outstanding surface sampling results highlight the presence of high-grade gold in the prospect areas drilled. These sample results, combined with our upcoming MMI soils program, which is now underway across the entire project area, will assist in building an overall geological model for the project and identify additional gold anomalies for future drilling. The Company is looking forward to beginning drilling at Tin Cup in Q4."
Medicine Spring Silver Project - JV with Reyna Silver Corp
The exploration program at Medicine Springs Silver Project in Elko County, Nevada, Reyna Silver currently has a team on the ground at Medicine Springs completing a rock sampling program focused on the identification of jasperoids for mapping the potential mineralization footprint on the project area. Approximately 700 samples are being collected across several previously identified anomalous areas.
Northern Lights is exploring the Medicine Springs Project in joint venture with Reyna Silver Corp. (TSX.V: RSLV) with Reyna having the option to acquire 75% of the project by completing total exploration expenditures of US$4 million (Northern Lights 25%). Reyna Silver is acting as the operator for the project exploration work under the guidance of Dr. Peter Megaw. (See October 5, 2020 announcement for complete terms of the Option/Joint Venture agreement with Reyna Silver.)
Northern Lights advises that it has come to the attention of management that a control person of the Company has been selling common shares through the facilities of the Canadian Securities Exchange (CSE) in a manner that is not in compliance with National Instrument 45-102 - Resale of Securities.
The Company has advised the individual of his obligations to file an advance notice of intention to sell securities at least seven days in advance of any sale through the CSE. The Company notes that this Control Person is a shareholder of the company and is not an employee or consultant, is not a member of the Companies Board of Directors and is not part of the management team of Northern Lights.
The scientific and technical data contained in this news release was reviewed and approved by Gary Artmont (Fellow Member AUSIMM #312718), Head of Geology and qualified person to Northern Lights Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Email: [email protected]
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: [email protected]
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: [email protected]
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights are in joint venture with Reyna Silver Corp (TSX.V "RSLV"), (25% Northern Lights / 75% Reyna Silver).
Northern Lights Resources trades under the ticker of "NLR" on the CSE exchange and "NLRCF" on the OTCQB exchange. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Northern Lights Resources Corp.