The 2nd half of July has traditionally been favorable for Gold and Gold stocks…
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NLR keeps dropping although assays are pending from Secret Pass and last month they got the permit for Tin Cup and they’re drilling it! I’m excited for these results but the market is selling NLR. Jon have you heard anything from them?
Comment by schiffwasright — July 12, 2021 @ 9:46 am
NLR has actually holding around current levels for the past couple of weeks, schiffwasright, but little volume which can be interpreted as a good thing – not much paper being given up at these levels. If the market is waiting for numbers from Tin Cup, and proof of some high-grade, I strongly suspect we’re going to see that…
Comment by Jon - BMR — July 12, 2021 @ 1:30 pm
Don’t forget the 46 millions shares that became free trading at $0.045 a while back, that is putting pressure on NLR.
Comment by jasi — July 12, 2021 @ 6:59 pm
That was in late December, jasi – anyone who has wanted to sell has likely sold by now – creates a clear path to higher prices on the right catalysts from Secret Pass, and the Medicine Springs Project in Nevada, the size of which has been increased 300%.
Comment by Jon - BMR — July 13, 2021 @ 2:13 am
NLR great news release this morning! I am very excited about these drill targets!:
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VANCOUVER, BC / ACCESSWIRE / July 13, 2021 / Northern Lights Resources Corp. (“Northern Lights” or the “Company”) (CSE:NLR)(OTCQB:NLRCF) is pleased to announce an update on the Company’s exploration activities at the Secret Pass Gold Project in Arizona and the Medicine Springs Silver Project in Nevada.
Secret Pass Gold Project
At Secret Pass, Northern Lights has completed 4 drill holes (2 holes at the Fiery Squid Prospect, 1 hole at the 9 Second Shaft Prospect, 1 Hole at the Fluorspar Ridge Prospect) for a total of 600 metres of HQ core (see Figure 1). The assays are pending and are expected to be completed during July.
Permits are in place to drill at Tin Cup. Drilling at Tin Cup has been put on hold for a couple of weeks during the current period of extremely hot weather in Arizona and Nevada with temperatures averaging +40 degrees celsius. Drilling at Tin Cup is to commence in mid-July.
Medicine Spring Silver Project – JV with Reyna Silver Corp
Northern Lights is exploring the Medicine Springs Project in joint venture with Reyna Silver Corp. (TSX.V: RSLV) with Reyna having the option to acquire 75% of the project by completing total exploration expenditures of US$4 million. Reyna Silver is acting as the operator for the project exploration work under the guidance of Dr. Peter Megaw. (See October 5, 2020 announcement for complete terms of the Option/Joint Venture agreement with Reyna Silver.)
Work is underway at Medicine Springs with a Lidar type mapping survey and sampling programs to be completed in July / August over the total expanded project claim area (approximately 4,830 Hectares – 573 mineral claims). This district-scale mapping and sampling program will be used to generate drill targets for identifying the large-scale silver-zinc-lead anomalies identified by Northern Lights exploration work completed from 2018 to 2020. (see Figure 2)
Reyna Silver has produced an updated and expanded video taken at the Medicine Springs Project in May 2020. In the video, Dr. Peter Megaw outlines the large-scale potential of the mineralization system at Medicine Springs and the strategy for exploring the project with the target to confirm future drill targets as soon as possible.
Comment by schiffwasright — July 13, 2021 @ 6:32 am