- 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
181,057,000 € 20%-30% 40-50% 30% Figure 1 – Financing Plan and Structure
