Northern Lights Resources

Readers are encouraged to always read disclosures/disclaimers at the bottom of every article.

Gold & silver are grabbing the headlines — that & Bitcoin + UFOs — but copper (“Cu“) should not be ignored. M&A is kickstarting the development of long-dormant Cu projects. BHP & Lundin Mining are acquiring Filo Mining’s Filo del Sol. Fun fact, that project was discovered in 1999.

McEwen Mining’s Los Azules in Argentina was discovered in 2007, and Regulus Resources’ AntaKori in Peru was found in 2012. NGEX’s Los Helados/Chile– 2008, Lundin Mining’s Josemaria/Chile– 2006, Solaris’ Warintza/Ecuador– 2000…

These six “generational assets” are, on average, ~20 years old and years from production! Not many companies have the patience or the balance sheet to start a mega-Cu project possibly facing > 20 years before cash flow begins. S&P Global Intelligence has this chart –> Look at the dearth of Major discoveries in the past decade…

In the 34-yr. period from 1990-2023 there was an average of 7.0 discoveries per year, and 9.4/yr. from 1990-2013, but just 1.4/yr. from 2014-2023! What does this mean for Cu supply in the 2030s-40s?

Among the top Cu-producing countries are the DRC, China, Russia & Indonesia. Some of the world’s largest undeveloped Cu projects are in Pakistan, Mongolia, the Philippines, Zambia & Russia.

Western countries urgently need the security of supply from friendly countries. That means high-grade deposits in safe, secure jurisdictions. It means green power, projects that are not too remote and have water, power, roads, people, equipment, mining services, etc. Near major end markets, not oceans away.

Northern Lights Resources (CSE: NLR, OTC: NLRCF) has two key prospects, an option agreement with veteran prospector Bernie Kreft to acquire a 100% interest in the Horetzky Copper project (“HCP“) in central B.C., Canada, and an Au project in Arizona. The Company has ~48.5M shares and no warrant or option overhang, for an enterprise value of ~C$2.5M.

NOTE: With the share price at just C$0.03, and cash balances very low, the Company will need to raise cash…

Northern Lights announced that data research & compilation of historical exploration at HCP identified 27.5 line km of IP work, 521 line km of magnetic & radiometric airborne survey, 1,128 soil samples, and 76 rock samples. Importantly, the Company recently appointed C3 Alliance Corp. to assist with permitting & First Nations engagement.

HCP the subject of numerous exploration campaigns since its discovery in 1967… 

CEO, Jason Bahnsen commented “We will reinterpret this data using modern techniques to identify/refine drill targets, providing a “springboard” into one of B.C.’s most active Cu districts. Work is progressing on permitting, and meetings with First Nations. A Multi-Year Area Based Permit (“MYAB”) for the Project, is well underway.”

Central B.C. is home to projects/mines owned/controlled by Teck Resources, Freeport McMoRan, Boliden AB, Centerra Gold, Taseko Mines & Imperial Metals. BHP is invested in Brixton Metals’s Thorn project, but that’s closer to northern B.C. where Newmont, Teck, Seabridge, Skeena Gold & Silver, Tudor Gold, Dolly Varden, and Ascot Resources have assets.

Northern Lights’ Project hosts a 3.0 km Cu soil geochemical anomaly with numerous samples of > 0.10% Cu, open for expansion to the SE & SW. Bernie Kreft is the prospector who vended the world-class NAK project to American Eagle Gold.

Horetzky is ~55 km NW of NAK, accessible by a network of all-season roads supported by nearby logging camps and the town of Smithers. A cross-Canada rail line & major provincial highway pass nearby. Kreft likes HCP for its, “similarities to NAK, location in a hot belt, open-ended & occasionally intense Cu soil anomalies, and recently recognized Au potential.”

This prolific Belt hosts the past-producing Bell & Granisle Cu-Au mines, now owned by Glencore, plus Cu-Au exploration plays like American Eagle’s NAK, Amarc Resources’ Duke & Hearne Hill, and Pacific Booker Minerals’ Morrison.

Horetzky is adjacent to Commander Resources’ Burn project, which has a strong interval of 149.5 m at 0.66 g/t Au, incl. 83.5 m / 1.08 g/t, As of 12/31/23, Glencore booked 4.14B Cu Eq. lbs. at Bell & Granisle grading ~0.50% Cu Eq.

Historical operations by Noranda Mines from 1965-1992 averaged 0.54% Cu Eq. Commander is merging with Golden Triangle Junior Enduro Metals. American Eagle’s flagship NAK project is a large near-surface Cu-Au system measuring over 1.5 x 1.5 km, billed as having the potential to be a multi-billion-tonne Cu-Au deposit.

American Eagle’s market cap is ~C$120M. Amarc’s Duke Cu-moly-Ag project is backed by mid-tier producer Boliden AB, who just announced $10M for additional drilling this year, and Amarc’s Joy project is backed by Freeport.

Au was not assayed for in the majority of historical programs, but later work identified an area of increased Au in soil. The Project is ~95 km NE of the regional center of Smithers. It consists of 11 tenures totaling 5,057 hectares and is partially road accessible. Northern Lights, CEO, Bahnsen commented,

“… we moved quickly to acquire HCP for its presence in one of B.C.’s premiere Cu-Au districts, combined with a Cu soil anomaly of significant size & tenor that remains open for expansion. We look forward to working with Bernie Kreft, who has a strong track record of exploration & discovery, in advancing this project.”

The Company has the right to acquire a 100% interest in the HCP by paying $5,000 in cash, issuing 7.5M shares, and completing $1M in exploration over 3 years. An additional $125,000 or 1.25M shares will be due within 30 days of Northern Lights disclosing a mineral resource of at least 1,000,000 oz. Au Eq.

The Company also has a promising Au project in Arizona, USA, the 868-hectare Secret Pass project, hosting past producers, highlighted by a strong, shallow drill hole interval in February 2021 of 1.6 g/t Au over 66.1 m (106.5-gram meters) from 64.0 m, incl. 10.1 g/t / 7.4 m, incl. 22.0 g/t / 2.1 m.

Another hole returned 0.86 g/t over a very wide 170.6 m (146.7-gram meters), incl. 63.2 m / 1.44 g/t, incl. 22.4 m / 2.35 g/t. These intercepts are impressive given how near the surface they are.

There’s a lot of blue-sky potential at Northern Lights. 2025 could be a big year, especially if Cu & Au prices run a lot higher and mid-tier & Major producers make investments into juniors with high-quality prospects. The main risk is funding exploration in a weak junior mining market.

Disclaimers/Disclosures: Peter Epstein of Epstein Research has no existing or prior relationship with Northern Lights and does not own any shares in the company. Northern Lights is a highly speculative, microcap company in which readers could lose up to 100% of invested capital. Readers are urged to consult with financial professionals before investing in high-risk stocks.