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Northern Lights Resources: Drilling to Begin at Medicine Springs
Vancouver, British Columbia – TheNewswire - September 12, 2022 - Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR), (OTC:NLRCF) is
About this update from Northern Lights Resources Corp
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - September 12, 2022 - Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR), (OTC:NLRCF) is pleased to announce that drilling is scheduled to commence mid September at the Company’s Medicine Springs Silver Project (“Medicine Springs”), located in Elko County, Nevada. Drill permits have been received and a drilling contractor has been appointed. An intial 4,000 metres of diamond core drilling is planned to be completed at Medicine Springs over the next few months. Initial drill targets include Golden Pipe, Silver Butte and Silver King. This first drilling campaign will test the structural framework and mineralization of a potential large scale Carbonate Replacement Deposit at Medicine Springs. Historic drilling at Medicine Springs is limited to shallow reverse circulation drilling (average depth 125 metres) that was conducted around Golden Pipe in the 1980’s. The historic drilling at Golden Pipe was focused on near surface oxide mineralization. This will be the first time that project is being drilled with the focus on defining a large scale Carbonate Replacement Deposit that NLR first identified the potential of through exploration work including geophysics, structural mapping, and a mobile metal ion soil geochemistry soil survey. (See Figure 1) Carbonate Replacement Deposits (CRDs) are high-grade, sulfide-rich, polymetallic (Ag-Pb-Zn-Cu-Au) systems that form through repeated reactions between magma-driven hydrothermal fluids and carbonate-dominant wall rocks. Their high multi-element grades and potentially large size make CRDs attractive exploration targets. The drilling campaign at Medicine Springs is being completed by Reyna Silver (TSX.V RSLV) as operator under the terms of the Medicine Springs Option/Joint Venture Agreement. Reyna Silver can earn up to 80% of the Medicine Springs project by making certain exploration expenditures and cash payments. Northern Lights has a free carried interest until Reyna Silver has expended a minimum of US$4.0 million dollars on exploration at Medicine Springs. See the NLR announcement dated October 5, 2020 for full details of the Option/Joint Venture Agreement between NLR and Reyna Silver. Medicine Springs shows most of the key features of large-scale CRDs, especially the three most important factors: location, structure, a...