(via TheNewswire)
Vancouver, British Columbia. May 14, 2024 -TheNewswire -Northern Lights Resources Corp.(“Northern Lights” or the “Company”) (CSE: NLR, OTC: NLRCF)is pleasedto announce it has executed an option agreement to acquire a 100% interest in the Caldera Copper Project located in Lincoln County, Nevada (the “Caldera Option”) (See Figure 1).
Highlights
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Exploration stage project acquired in Southeast Nevada along the southern extension of Battle Mountain Eureka trend.
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The Caldera project consists of total 55 BLM mineral claims with a total area of 418 hectares.
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The Caldera Project is highly prospective for copper porphyry, copper skarn, and IOCG mineralization.
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No modern exploration in the area. Numerous historic workings focussed on copper and iron mineralization.
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Initial rock sampling shows copper grades up to 6% copper with highly anomalous levels of Ag, Mo, Sn, Wo.
Northern Lights, CEO, Jason Bahnsen commented “The Caldera Project is an exciting addition to our project portfolio that includes the 100% owned Secret Pass Gold Project in Arizona and exposure to the Medicine Springs Project being developed by Reyna Silver. The Caldera project is located in a relatively unexplored area of Nevada. There is significant copper mineralization observed in outcrops and around historic workings. Northern Lights is planning to begin an immediate exploration program at Caldera that will include mapping, geochemistry soil sampling, and geophysics.”
The Caldera Project consists of a core group of five BLM mineral claims with a total area of 41.80 hectares. Concurrent with the execution of the Caldera Option, Northern Lights announces that it has staked an additional 50 mining claims contiguous with the Caldera Option claims with an area of 376.24 hectares. In total, the Caldera Project now consists of 50 claims with a total area of 418.04 hectares (See Figure 2).
The Caldera Project is a copper exploration project located along the southern extension of the Battle Mountain – Eureka trend in Lincoln County, Nevada. The Caldera Project is located in the historic Little Mountain mining district, an area with several historic mine workings but has not been subject to modern exploration techniques. The Caldera Project hosts outcropping high-grade copper and iron mineralization with anomalous multi element geochemistry that has potential to host copper porphyry, skarn, and IOCG mineralization.
Geology
The Caldera Project lies along the northern margin of the Caliente Caldera complex (80 x 30km) (See Figure 3). The mineralization at Caldera is mapped on the contact between the Miocene to Palaeocene diorite/monzonite porphyry intrusives and younger Tertiary volcanics (intermediate and rhyolite lave flows, and ash-fall tuffs).
There is evidence of skarn mineralization in a small outcrop of pre-Tertiary carbonate along a diorite contact. Diorite is locally sheared and is weakly chloritized with more intense alteration along the shear zones where it is altered to clay. Most of the shear zones in the area strike northwest.
The Caldera project lies within the Little Mountain historic mining district (Cu, Mo, Ag) (purple dashed line in Figure 3). Several historic prospects have been identified in the andesite and diorite contact and mineralization occurs in or near the stock. Malachite and chrysocolla as well as native copper have been identified along the southern mineral occurrence and on the project site. Historically, rocks sampled at site were found to contain as much as 4% Cu and average 1.5-2% Cu. The highest reported silver sample is 438 g/t with grab samples reported to be 3% Cu, 0.15% Pb, and 0.07% Zn.
Caldera has a similar geochemical signature and age as deposits mined in nearby districts which suggests that the project could be an extension of the NW-SE mineralization of the Battle Mountain-Eureka Trend and multiple Cu producing districts to the northwest. Existing roads on the project go by known occurrences and historical workings which will provide easy access to the property.