Northern Lights Resources Acquires the Pup Copper Project in the Yukon
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Northern Lights Acquires the Pup Copper Project in the Yukon
Vancouver, British Columbia. September 18 , 2024, Northern Lights Resources
Corp. (“Northern Lights” or the “Company”) (CSE: NLR, OTC: NLRCF) is pleased to
announce it has entered into an option agreement with veteran prospector Bernie Kreft
(“Kreft”) to acquire a 100% interest in the Pup Copper Project (“Pup” or the “Project”),
located in the Yukon Territory.
Pup Project Highlights:
• The Project is located approximately 10 kilometres west of the regional centre of
Dawson City. It consists of 64 quartz claims totalling approximately 1,300 hectares
and is accessible via a network of rough 4x4 roads leading to placer gold mines
located along the south edge of the property.
• The Project is situated within the mineral rich Yukon Tanana Terrane, host to
numerous significant Cu-Au porphyry, VHMS base metal and orogenic gold type
targets, deposits or past producing mines.
• Pup is host to an approximate 850 metre long by up to 400 metre wide copper in
soil anomaly, possibly open to the southeast, with values of up to 2,962.9 ppm
copper, within which are several areas with anomalous Au up to 138 ppb and Ag
up to 3.0 ppm.
• Limited hand trenching within the copper soil anomaly has encountered oxidized,
weathered and foliated propylitically altered quartz -biotite-chlorite bedrock
mineralized with disseminated, fracture controlled and quartz vein hosted
malachite and azurite along with lesser magnetite, hematite and rare pyrite. Grab
samples of this material have returned up to 3.799% copper.
Northern Lights, CEO, Jason Bahnsen commented : “We are excited to add the Pup
property to our growing portfolio of copper projects. Excellent access, an intriguing
geological setting and a robust copper soil anomaly of significant size and excellent tenor
that has yet to be mechanically trenched or drilled were major selling points to us. We
also look forward to working with the vendor, Bernie Kreft, who has a strong track record
of exploration and discovery, in the further advancement of this project.”
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Figure 1 – Pup Copper Anomaly Detail
Acquisition Terms
The Company has the right to acquire a 100% interest in the Pup Project by paying $5,000
in cash, issuing 7,500,000 shares and completing $1,000,000 in exploration over 3 years.
An additional $125,000 or 1,250,000 shares, at the option of Kreft, will be du e within 30
days of Northern Lights publicly disclosing an inferred or greater category or categories
of a mineral resource, in accordance with the CIM definitions of a minimum of 1,000,000
ounces of gold or gold equivalent. A further $125,000 or 1,250,000 shares, at the option
of Kreft, will be due on the earlier of the Optionee completing 5,000 metres of drilling or
October 15, 2029. The property is subject to a 2.5% NSR, 40% of which can be purchased
for $2,000,000 at any time up to the commencement of c ommercial production. The
agreement is subject to regulatory approval.
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Historical Data
The sampling and drill results reported in this release are historical in nature. The
Company has not conducted any independent review of the sampling, nor has it
independently analyzed the results of the historical exploration work to verify the results.
The Company considers these historical drill and sampling results relevant, as it will use
this data to guide future exploration programs. The Company also considers the data
reliable for these purposes, however, the Company’s future exploration work will include
verification of the data through additional sampling and drilling.
Qualified Person 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.
Corporate Options
The Company announces the granting of 5,000,000 incentive stock options, pursuant to
its stock option plan, to directors, officers and consultants of the Company. Each option
is exercisable to purchase one common share of the Company at a price of $0. 08 per
share for a term of 2 years. All options vest upon grant.
For Further Information
Albert Timcke, Executive Chairman and President
Email: [email protected]
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: [email protected]
Tel: +1 604 608 6163
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth -oriented exploration and development
company advancing two key projects: the Horetzky Copper Project, located in the Babine
Porphyry belt of central British Columbia and the 100% owned, Secret Pass Gold Project
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located in Arizona. Northern Lights also holds a 1% NSR royalty on the Medicine Springs
Silver Project in Nevada owned by Torex Gold Resource Inc.
Northern Lights Resources trades under the ticker of “NLR” on the CSE and on the OTC
under the ticker “NLRCF”. 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 pl acement; use of funds; the business and
operations of the Company after the proposed closing of the Financing. There is no assurance
any settlement agreement will be finalized with Mirabel . 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 reg ulatory 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 sta tements.
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.