Northern Lights Resources Corp is a Canadian resource exploration and development company headquarter in Vancouver British Columbia. Northern Lights Resources Corp is publicly traded on the Canadian Stock Exchange “CSE” trading under the symbol of “NLR”.
Northern Lights Resources began trading on the CSE in Nov 2018 and is advancing two key projects in two of the top mining jurisdictions globally - Arizona and Nevada.
Secret Pass Gold Project - Arizona
In Arizona, Northern Lights Resources owns 100% of the Secret Pass Gold Project. The Secret Pass Gold Project is located 15 km north of the historic Oatman gold mining district in northwest Arizona that produced 2 million ounces of gold between 1892 and 1940 at an average gold grade of over 15 g/t.
Exploration work completed by Northern Lights during 2020 has identified significant potential for high-grade gold mineralization at the Tin Cup and FM zones plus the newly identified Fiery Squid zone as well as 20 additional targets based on field work and aeromagnetic and IP geophysical survey results.
The Secret Pass Gold Project is a promising gold exploration property with no production royalty “NSR” allowing “NLR” shareholders potentially significant exploration upside.
Medicine Springs Project - Nevada
NLR's second key project is the Medicine Springs Project located on the eastern edge of the Carlin Trend in southeastern Elko County, Nevada. Medicine Springs is a high grade silver-zinc-lead project with strong potential to host a large scale high-grade carbonate replacement.
Since acquiring the Medicine Springs Project in 2017, Northern Lights has completed exploration work including detailed geological mapping, rock sampling, analysis of historic geophysical survey data (CSAMT and IP), review of historic exploration drilling, an aeromagnetic survey and an Ionic Leach soil geochemistry survey.
The results of the exploration work completed by Northern Lights at the Medicine Springs Project highlight the potential for significant silver-zinc-lead mineralization including the potential for high-grade CRD style mineralization.
On October 5, 2020 Northern Lights announced a Option and Joint Venture Agreement with Reyna Silver Corp. (TSXV:RSLV). Under the terms of the Agreement, Reyna Silver can earn up to 80% equity in the Medicine Springs Project by completing minimum exploration expenditures of US$2.4 million plus other commitments and paying a cash payment of US$1 million to Northern Lights by no later than December 31, 2023. Northern Lights has a free carry (with no future repayment) until Reyna Silver as spent US$4 million on exploration on the project.
Dr. Peter Megaw, Technical Advisor to Reyna Silver commented “Medicine Springs ticks the most important boxes we look for in CRD exploration including location on a large regional structure that hosts significant CRDs, situated at the top or a thick section of potentially favorable carbonate host rocks and evidence of high silver grades. Some of the dump and rock chip samples run well over our 400 g/t (12 oz/t) silver threshold and it is quite likely that similar grades were diluted by the Reverse Circulation drilling used historically in the district. We will be drilling core to get a true picture of the clearly structurally-controlled mineralization as we trace it towards its source.”