More High Grade Drill Results at Tin Cup

More High Grade Drill Results at Tin Cup

Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR, OTCQB:NLRCF) is pleased to announce the assay results from the third and fourth drill holes (TC21-04 and TC21-05) completed at the Tin Cup prospect at the Company's 100% owned Secret Pass Gold Project in Mohave County, Arizona

  • TC21-04 Intersections*:
    • 0.95g/t over 103.00m, the entire length of the drill hole from collar to hole bottom, including
    • 2.96g/t over 12.96m from 75.59m
  • TC21-05 Intersections*:
    • 0.29g/t over 60.91m from 41.50m, included
    • 0.56g/t over 24.07m from 78.34m, including
    • 4.23g/t over 0.99m from 101.42m, in the last metre of the drill hole

Previously announced assays received for TC21-02 and TC21-03 indicate wide zones of near surface gold mineralization are present at Tin Cup. (Note, the grade of the intersections for TC21-02 and TC21-03 have been corrected from previous news release of February 22, 2022)

  • TC21-02 Intersections*:
    • 1.61g/t gold over 66.15m from 64.00m, including
    • 10.07g/t gold over 7.41m from 117.04m and
    • 22.00g/t gold over 2.07m from 122.38m and
    • 29.90g/t gold over 0.65m from 123.30m
  • TC21-03 Intersections*:
    • 0.86g/t gold over 170.57m from 59.55m, including
    • 1.44g/t gold over 63.20m from 79.75m
    • 2.35g/t gold over 22.43m from 96.47m

*Intersections represent downhole widths as insufficient information is available to calculate true widths.

Northern Lights CEO, Jason Bahnsen, commented"We have now received assays for the 4 drill holes completed at Tin Cup. TC21-04 announced today shows gold mineralization over the entire length of the hole, averaging 0.95g/t over 103 metres. This hole was drilled to the northwest, down plunge along edge of the mineralized structure and demonstrates the continuity of the gold mineralization from surface to a depth of over 50 metres. The mineralization remains open down plunge. Drill hole TC21-05 ended in strong gold mineralization, 4.32g/t over the last metre of the drill hole. It should be noted that drill holes TC21-04 and TC21-05 were prematurely terminated in mineralization due to technical problems in the drill holes. The Company has three additional drill holes permitted at Tin Cup to further define the gold mineralization along strike and depth."

Figure 1 shows the drilling results plotted against the historic Induced Polarization (IP) that was carried out by Sante Fe in 1986 and had a maximum depth penetration of only ~200 metres. The drill results show a close correlation with a well-defined chargeability high that dips steeply to the east. The chargeability high is related to fracture-controlled pyrite observed throughout the mineralized zone.

Figure 1: IP Chargeability Profile and Significant Gold Intersections

Northern Lights has completed four diamond core drill-holes at Tin Cup, totalling 610 metres. The Company has permits in place to drill three additional holes at Tin Cup and plans to apply for further drill-hole permits following the analysis of the first four drill holes.

All four drill holes intercepted zones of moderate to strong gold mineralization hosted by altered andesite. Gold occurs as disseminated to fracture-controlled, low temperature mineralization with a moderate to high pyrite/hematite content. The alteration assemblage includes sericite, quartz, chlorite and carbonate. Brecciated and gouge-filled fault zones were encountered in both drill holes and contained disseminated pyrite. Gold mineralization at the Tin Cup is associated with the northwest trending Frisco Mine Fault localized in the andesite and along the margins of the rhyolite dikes.

The gold mineralization at Tin Cup is open at depth and has not yet been tested below an average depth of 95 metres. The focus of this initial drill program is to confirm the gold mineralization that was previously identified by RC drilling in the 1980s and to provide additional geological information on the style of gold mineralization. The drill-hole locations and statistics are found in Table 1 and Figures 3 and 4.

Table 1: Completed Phase 1 Drill Holes at Tin Cup

Hole No.

Location

Azimuth (o)

Dip (o)

Length (m)

TC21-01

Tin Cup

abandoned

TC21-02

Tin Cup

220

-45

175

TC21-03

Tin Cup

220

-55

230

TC21-04

Tin Cup

310

-50

103*

TC21-05

Tin Cup

040

-60

102*

Total

610

*Hole terminated due to technical problems in the drill holes

Next Steps

The Secret Pass Project, including the Tin Cup Prospect, is fully permitted for drilling and Northern Lights is expediting an aggressive exploration program to delineate further gold mineralization in the Tin cup and FM Zones.

In 2021, the Company completed a soil survey over the majority of the Secret Pass Project claim area including the area between Tin Cup and the FM Zone. This survey identified a significant gold soil anomaly approximately 1,100 metres in length and up to 400 metres wide as shown on Figure 2.

Northern Lights is planning to complete a deep penetrating IP survey over the claim area covering the Tin Cup and FM zones. This survey will explore to depths of ~400 metres and will assist in defining new drill targets associated with zones of high chargeability located along strike and to depth.

Figure 2: Drill Locations and Gold Soil Anomalies

Figure 3: Tin Cup Drilling Cross Section and Geological Model

Figure 4: Tin Cup Drilling - Plan View

QA/QC Statement

Diamond Core (HQ size) was drilled by Godbe Drilling LLC under the supervision of Mr. Lee Beasley, QP for Northern Lights Resources. The core was split with the half core transported to Skyline Assayers and Laboratories (Skyline) in Tucson, AZ. Field control QA/QC samples, including standards, blanks, and field duplicates, were inserted into the sample stream at a rate of one field control sample every 20 regular samples. Samples received by the lab are logged, weighted and assigned into batches. Sample preparation begins with crushing samples to 75% passing -10 mesh. From this sample, 250 grams of material is separated using a riffle splitter which is then further pulverized to at least 95% - 150 mesh resulting in a pulp that is ready for analysis. Gold was determined by fire assay fusion of a 30 gram sub-samples with atomic absorption spectroscopy (method FA-01). Overlimit samples of gold ( greater than 5 g/t) were assayed by gravimetric means (FA-02). Skyline Laboratories is accredited in accordance with ISO/IEC 17025:2017 and ISO 9001:2015.

Competent Persons Statement

Information in this report relating to Exploration Results is based on information reviewed by Mr. Lee R. Beasley, a Certified Professional Geologist who is a Member of the American Institute of Professional Geologists, and a consultant to Northern Lights Resources. Mr. Beasley has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Qualified Person for the purposes of NI43-101 Standards of Disclosure for Mineral Projects. Mr. Beasley consents to the inclusion of the data in the form and context in which it appears.

For further information, please contact:

Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163

Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.com
Tel: +1 604 608 6163

Shawn Balaghi, Investor Relations
Email: shawn@northernlightsresources.com
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, in joint venture with Reyna Silver are earning 100% ownership. Northern Lights Resources is a member of the Arizona Mining Association.

Northern Lights Resources trades under the ticker of "NLR" on the CSE and "NLRCF" on the OTCQB. 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.



View source version on accesswire.com:
https://www.accesswire.com/691781/More-High-Grade-Drill-Results-at-Tin-Cup

News Provided by ACCESSWIRE via QuoteMedia

NLR:CNX
The Conversation (0)
Northern Lights Announces Non-Brokered Private Placement of Up to $1 Million

Northern Lights Announces Non-Brokered Private Placement of Up to $1 Million

NOT FOR DISTRIBUTION TO OR FOR DISSEMINATION IN THE UNITED STATES

Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company")(CSE:NLR)(OTCQB:NLRCF) announces that it intends to complete a non-brokered private placement (the "Placement") for gross proceeds of up to C$1,000,000 from the sale of common shares of the Company (the "Shares") at a price of C$0.075 per Share

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Medicine Springs Drill Program

Medicine Springs Drill Program

Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCD) is pleased to announce start of the 2022 exploration program at the Medicine Springs Silver Project ("Medicine Springs"), located in Elko County, Nevada, that the Company is exploring in joint venture with Reyna Silver Corp. (Reyna Silver

The 2022 exploration program at Medicine Springs will include a 5,000 to 7,000 metre drill program targeting the discovery of a large scale Carbonate Replacement Deposit (CRD) system. Drill permitting is underway and work is commencing immediately on additional field studies to further refine drill targets. Drilling is expected to commence in Q3/Q4 2022.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Northern Lights Announces Share Consolidation

Northern Lights Announces Share Consolidation

Northern Lights Resources Corp. ("Northern Lights", "NLR" or the "Company") (CSE:NLR), (OTCQB:NLRCF) is pleased to announce that it is proceeding with the consolidation of its common shares on a ten (10) for one (1) basis (the "Consolidation"). The Company's common shares will commence trading on a post-consolidated basis effective at market opening on May 24, 2022 (the "Effective Date

Immediately prior to completion of the Consolidation, the Company has 143,571,385 common shares issued and outstanding. After giving effect to the Consolidation, the Company will have approximately 14,357,139 common shares issued and outstanding, subject to the rounding of fractional common shares. The company has been issued with a new Cusip Number (66538D301), there will be no escrow of shares, and the trading symbol will remain unchanged.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Tin Cup Exploration Update

Tin Cup Exploration Update

Northern Lights Resources Corp. ("Northern Lights" or the "Company") (CSE:NLR)(OTCQB:NLRCF) is pleased to announce an update to the exploration plan for the Tin Cup prospect at the Company's 100% owned Secret Pass Gold Project in Mohave County, Arizona

Following on from the success of the initial four holes completed, Northern Lights is planning to expand the exploration program at Secret Pass to include the drilling of three (3) additional holes at Tin Cup and two (2) drill holes at the FM Zone, which is located approximately 500 metres east of Tin Cup. All five (5) proposed drill holes are fully permitted. The drill holes statistics and significant intersections for the first four drill holes are sumarized on Table 1. The location of the recent drill holes and the planned drill holes for Tin Cup and the FM Zones are illlustrated on Figure 1.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
InvestmentPitch Media Video Discusses Northern Lights' Report of Additional High-Grade Assay Results from its Third and Fourth Drill Holes at its Tin Cup Prospect at its Secret Pass Gold Project in Arizona

InvestmentPitch Media Video Discusses Northern Lights' Report of Additional High-Grade Assay Results from its Third and Fourth Drill Holes at its Tin Cup Prospect at its Secret Pass Gold Project in Arizona

Northern Lights Resources (CSE:NLR) (OTCQB:NLRCF) reports additional high-grade assay results from its third and fourth drill holes at its Tin Cup Prospect at its Secret Pass Gold Project in Arizona. The 100%-owned Secret Pass Gold Project is located in the Frisco-Catherine Gold district of Northwest Arizona, is approximately 8 kilometers Northeast of Elevation Gold's Moss Mine, a heap leach open pit gold mine currently operating at an average mined grade of 0.45 gt gold. Following the acquisition of an additional 260 hectares in September 2021, the Secret Pass Gold Project now covers approximately 1,128 hectares.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

SilverCrest Reports Third Quarter 2024 Financial Results

Strong Free Cash Flow Continues, Supporting 29% Growth in Treasury Assets

TSX: SIL | NYSE American: SILV

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

MAG Silver Reports Third Quarter Financial Results

MAG Silver Corp. (TSX NYSE American: MAG) ("MAG", or the "Company") announces the Company's unaudited consolidated financial results for the three months ended September 30, 2024 ("Q3 2024"). For details of the unaudited condensed interim consolidated financial statements of the Company for the three and nine months ended September 30, 2024 ("Q3 2024 Financial Statements") and management's discussion and analysis for the three and nine months ended September 30, 2024 ("Q3 2024 MD&A"), please see the Company's filings on the System for Electronic Document Analysis and Retrieval Plus ("SEDAR+") at ( www.sedarplus.ca ) or on the Electronic Data Gathering, Analysis, and Retrieval ("EDGAR") at ( www.sec.gov ).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Wooden blocks with check mark on them.

Pan American Silver Releases Quarterly Results, Gets Canada's Approval for La Arena Sale

Pan American Silver (TSX:PAAS,NASDAQ:PAAS) said on Tuesday (November 5) that it has received final regulatory approval from the Canadian government for the sale of its La Arena assets in Peru.

The company is selling the La Arena gold mine and development-stage La Arena II copper-gold project to Jinteng (Singapore) Mining, a subsidiary of Zijin Mining Group (OTC Pink:ZIJMF,HKEX:2899).

Under the terms of the deal, Zijin will pay US$245 million in cash for the properties. Pan American will also receive a 1.5 percent life-of-mine net smelter return royalty on gold production from La Arena II.

Keep reading...Show less

First Majestic Announces Financial Results for Q3 2024 and Quarterly Dividend Payment

First Majestic Silver Corp. (NYSE: AG) (TSX: AG) (FSE: FMV) (the "Company" or "First Majestic") is pleased to announce the Company's unaudited condensed interim consolidated financial results for the third quarter ended September 30, 2024. The full version of the financial statements and the accompanying management's discussion and analysis can be viewed on the Company's website at www.firstmajestic.com or on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.govedgar. All amounts are in U.S. dollars unless stated otherwise.

THIRD QUARTER HIGHLIGHTS

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×