North Peak Fully Acquires the Prospect Mountain Mine Complex in Eureka, Nevada; Issues 3 Million Shares for Remaining 20%
North Peak Resources (OTCQB: NPRLF) has acquired the remaining 20% interest in the Prospect Mountain Mine complex in Eureka, Nevada, issuing 3 million common shares to Solarljos LLC. This follows their initial 80% acquisition in August 2023 and successful 2024 drilling campaign.
The exploration program revealed significant findings, including high-grade intersections of 22.9m @ 12.0 g/t Au and surface mineralization of 27.4m @ 7.4 g/t Au. Geophysical surveys identified a 2-km long conductive anomaly beneath old mine workings, while soil sampling confirmed both Carlin style and CRD systems.
The company has secured ancillary rights with the Erickson family, including board nomination rights and pre-emptive rights for future security issuances. North Peak has also decided to discontinue its option on the Kenogami Lake Property in Ontario to focus entirely on the Prospect Mountain complex.
North Peak Resources (OTCQB: NPRLF) ha acquisito il restante 20% di partecipazione nel complesso minerario Prospect Mountain a Eureka, Nevada, emettendo 3 milioni di azioni ordinarie a favore di Solarljos LLC. Questa operazione segue l'acquisizione iniziale dell'80% avvenuta nell'agosto 2023 e la positiva campagna di perforazione del 2024.
Il programma di esplorazione ha portato a risultati significativi, tra cui intersezioni ad alta gradazione di 22,9 m @ 12,0 g/t Au e mineralizzazione superficiale di 27,4 m @ 7,4 g/t Au. Le indagini geofisiche hanno rilevato un'anomalia conduttiva lunga 2 km sotto i vecchi lavori minerari, mentre il campionamento del suolo ha confermato la presenza di sistemi sia in stile Carlin che CRD.
L'azienda ha inoltre ottenuto diritti accessori con la famiglia Erickson, inclusi diritti di nomina nel consiglio e diritti di prelazione per future emissioni di titoli. North Peak ha deciso di rinunciare all'opzione sulla proprietà di Kenogami Lake in Ontario per concentrarsi completamente sul complesso di Prospect Mountain.
North Peak Resources (OTCQB: NPRLF) ha adquirido el 20% restante de interés en el complejo minero Prospect Mountain en Eureka, Nevada, emitiendo 3 millones de acciones comunes a Solarljos LLC. Esto sigue a su adquisición inicial del 80% en agosto de 2023 y a la exitosa campaña de perforación de 2024.
El programa de exploración reveló hallazgos significativos, incluyendo intersecciones de alta ley de 22.9 m @ 12.0 g/t Au y mineralización superficial de 27.4 m @ 7.4 g/t Au. Las encuestas geofísicas identificaron una anomalía conductora de 2 km de longitud bajo antiguos trabajos mineros, mientras que el muestreo de suelo confirmó sistemas tanto estilo Carlin como CRD.
La compañía ha asegurado derechos auxiliares con la familia Erickson, incluyendo derechos de nominación para el consejo y derechos preferentes para futuras emisiones de valores. North Peak también decidió desistir de su opción sobre la propiedad Kenogami Lake en Ontario para enfocarse completamente en el complejo Prospect Mountain.
North Peak Resources (OTCQB: NPRLF)는 네바다주 유레카에 위치한 프로스펙트 마운틴 광산 단지의 나머지 20% 지분을 인수하며 Solarljos LLC에 보통주 300만 주를 발행했습니다. 이는 2023년 8월에 80% 지분을 처음 인수한 데 이어 2024년 성공적인 시추 캠페인 이후의 조치입니다.
탐사 프로그램에서는 22.9m @ 12.0 g/t Au의 고품위 교차구간과 27.4m @ 7.4 g/t Au의 표면 광화 현상이 확인되었습니다. 지구물리학 조사에서는 오래된 광산 작업 아래에 길이 2km의 전도성 이상이 발견되었고, 토양 샘플링을 통해 칼린(Carlin) 스타일과 CRD 시스템이 모두 확인되었습니다.
회사는 Erickson 가족과의 부수 권리도 확보했으며, 이에는 이사회 지명권과 향후 증권 발행에 대한 우선권이 포함됩니다. North Peak는 온타리오의 케노가미 호수 부동산 옵션을 중단하고 프로스펙트 마운틴 단지에 전적으로 집중하기로 결정했습니다.
North Peak Resources (OTCQB : NPRLF) a acquis les 20 % restants d’intérêts dans le complexe minier Prospect Mountain à Eureka, Nevada, en émettant 3 millions d’actions ordinaires à Solarljos LLC. Cette opération fait suite à leur acquisition initiale de 80 % en août 2023 et à une campagne de forage réussie en 2024.
Le programme d’exploration a révélé des résultats significatifs, notamment des intersections à haute teneur de 22,9 m @ 12,0 g/t Au et une minéralisation en surface de 27,4 m @ 7,4 g/t Au. Des enquêtes géophysiques ont identifié une anomalie conductrice de 2 km de long sous d’anciennes galeries minières, tandis que des échantillonnages de sol ont confirmé la présence de systèmes de style Carlin et CRD.
La société a obtenu des droits annexes avec la famille Erickson, incluant des droits de nomination au conseil d’administration et des droits de préemption pour de futures émissions de titres. North Peak a également décidé de renoncer à son option sur la propriété Kenogami Lake en Ontario afin de se concentrer entièrement sur le complexe Prospect Mountain.
North Peak Resources (OTCQB: NPRLF) hat die restlichen 20% Anteile am Prospect Mountain Mine-Komplex in Eureka, Nevada, erworben und dabei 3 Millionen Stammaktien an Solarljos LLC ausgegeben. Dies folgt auf die anfängliche 80% Akquisition im August 2023 und die erfolgreiche Bohrkampagne 2024.
Das Explorationsprogramm brachte bedeutende Ergebnisse zutage, darunter hochgradige Abschnitte von 22,9 m @ 12,0 g/t Au sowie oberflächennahe Mineralisierung von 27,4 m @ 7,4 g/t Au. Geophysikalische Untersuchungen identifizierten eine 2 km lange leitfähige Anomalie unter alten Bergwerksarbeiten, während Bodenproben sowohl Carlin-Stil als auch CRD-Systeme bestätigten.
Das Unternehmen sicherte sich zudem Nebenrechte mit der Familie Erickson, darunter Nominierungsrechte für den Vorstand und Vorkaufsrechte bei zukünftigen Wertpapieremissionen. North Peak hat sich außerdem entschieden, seine Option auf das Kenogami Lake Grundstück in Ontario aufzugeben, um sich vollständig auf den Prospect Mountain-Komplex zu konzentrieren.
- Acquisition of remaining 20% stake provides full control over the Prospect Mountain Mine complex
- High-grade gold intersections discovered, including 22.9m @ 12.0 g/t Au and 27.4m @ 7.4 g/t Au
- 2-km long conductive anomaly identified beneath historical workings
- Multiple high-grade surface samples, including 46.5 g/t Au with 569 g/t Ag
- Presence of both Carlin style and CRD mineralization systems confirmed through soil sampling
- Company abandons Kenogami Lake Property option in Ontario, losing diversification
- Additional share issuance of 3 million shares causes dilution for existing shareholders
- New board nomination rights granted to Erickson family could impact corporate governance
Calgary, Alberta--(Newsfile Corp. - July 21, 2025) - North Peak Resources Ltd. (TSXV: NPR) (OTCQB: NPRLF) (the "Company" or "North Peak") announces that further to its acquisition of
"When the initial
"This Property will benefit greatly from our team's strong track record of applying modern exploration techniques to underexplored historical, high-grade mining camps," added Harry Dobson, Chairman. "We are excited to advancing exploration efforts at this Property and looking forward to getting some drilling underway this summer once permits are secured."
Success in the 2024 drilling campaign at the Property, which focused on the limited historical drilling area in the North of the Property, using pre-existing roads and pads to minimize costs provided, included the following results:
High grade material still present and new trends identified, such as PM24-039 which intersected 22.9m (75ft) @ 12.0 g/t Au (with 6.1m (20ft) voids @ 0 g/t Au), including 3.0m (10ft) @ 85.7 g/t Au; it was located 35m (115ft) Northwest of previous drilling and ended in mineralization on a new western trend. (see the Company's Nov. 12, 2024, press release).
Mineralisation existing from surface, such as PM24-022 which intersected 27.4m (90ft) @ 7.4 g/t Au (with a 1.5m (5ft) void @ 0 g/t Au) from surface, including 6.1m (20ft) @ 23.1 g/t Au which includes 1.5m (5ft) @ 56.5 g/t Au & 161.4 g/t Ag (see the Company's Sept. 4, 2024 press release).
Wide, low grade intersections existing between the high-grade lodes such as PM24-004, which intersected 126.5m (415ft) @ 1.06 g/t Au which included 12.2m (40ft) @ 4.20 g/t Au (see the Company's Aug. 14, 2024, press release).
In addition, various geophysics and geochemistry undertaken across the entire Property have provided further evidence of the Property's potential, including:
A 2-km long conductive anomaly directly beneath the old oxide gold, silver, lead, zinc stopes and mine workings on the Property is highlighted by the several geophysical surveys (see Figure 1 below and the Company's July 17, 2023, press release). An initial drill hole confirmed the anomaly was caused by sulphide mineralization.
A comprehensive Property-wide soil sampling exercise was then undertaken and identified both Carlin style and CRD systems. In addition, further soil sampling has been undertaken this year following up on some of the strong areas (see Figure 2 below)
- - Additional rock chip and grab samples also support existence of high-grade material, including:
- 46.5 g/t Au, 569 g/t (16.6 oz/t) Ag,
4.09% Pb,3.12% Zn over 15 cm in the Dean Cave; - 33.9 g/t Au, 183 g/t Ag,
0.9% Cu,1.81% Pb,1.66% Zn from a surface scrape on the Delaware patented claim; - 20.5 g/t (0.66 oz/t) Au chip sample in the Industry tunnel.
- 16.75 g/t Au, 243 g/t Ag,
3.17% Pb,2.26% Zn dump grab sample from the historical Krao mine; - 10.2 g/t Au, 580 g/t Ag,
11.7% Pb dump grab sample from Antelope patented claim; and - 5.3 g/t Au, 39 g/t Ag,
7.03% Pb, dump grab sample from the historical Kit Carson mine,
- 46.5 g/t Au, 569 g/t (16.6 oz/t) Ag,
(See the Company's January 31, 2024, June 27, 2024, and May 27, 2025, press releases).
"The geological evaluation and exploration efforts have revealed promising findings, offering substantial optimism for the future development of the Property. Notably, advanced geophysical and geochemical studies conducted across the Prospect Mountain Mine complex have highlighted the presence of anomalies, and both CRD and Carlin style trends, that were previously unexplored," added David Pym, Geologist. "These results reflect the untapped potential of the Property and underscore the significance of modern exploration techniques in uncovering new opportunities."
In connection with the exercise of its right to acquire
Given North Peak will now be fully focused the Prospect Mountain Mine complex, the Company has notified the owner of the Kenogami Lake Property in Ontario, Canada that it will not be completing the remaining
Review by Qualified Person, Quality Control and Reports
Mr. David Pym, CGeol., Consulting Geologist for the Company, is the Qualified Person, as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects, who reviewed and approved scientific and technical disclosure in this press release. The Qualified Person has not reviewed the mineral tenure, nor independently verified the legal status and ownership of the Property or any underlying property agreements.
Figure 1: Pb rich core of CRD anomaly in relationship to the MT anomaly, UG workings, gravity and Historical Stopes
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Figure 2: NPR soil sampling results from 2023 campaign highlighting CRD and Carlin style mineralization
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For further information, please contact:
| Rupert Williams, CEO Phone: +1-647-424-2305 Email: info@northpeakresources.com | Chelsea Hayes, VP Operations & Corp Development Phone: +1-647-424-2305 Email: info@northpeakresources.com |
About North Peak
The Company is a Canadian based gold exploration and development company listed on the TSX Venture Exchange under the symbol "NPR" and the OTCQB under the symbol "NPRLF".
Founded by the founding team of both Kirkland Lake Gold and Rupert Resources, the team has a strong track record of acquiring mining assets, applying modern exploration techniques and taking them into operational mines.
North Peak's flagship property is the Prospect Mountain Mine complex which lies in the Battle Mountain Eureka trend, in an area known as the Southern Eureka Gold Belt, where three styles of mineralization have been identified, gold, silver Carlin style mineralization, Carbonate Replacement gold, silver, lead, zinc mineralization (CRD) and carbonate hosted Porphyry Related Skarn lead, zinc and gold mineralization associated with cretaceous intrusions. At the Property, the CRD mineralization is heavily oxidized to depths of at least 610m (2,000ft) below the top of the ridge line.
A Plan of Operations is in place which covers part of the Property (totalling 189 acres) and entitles an operator to pursue surface exploration, underground mining of up to 365,000 tons per annum and certain infrastructural works. It includes a permit to extract water from a well and to build water containment facilities.
A more complete description of Prospect Mountain's geology and mineralization, including at the Wabash area, can be found in the NI 43-101 Technical Report (the "Technical Report") on the Prospect Mountain Property, Eureka County, Nevada, USA dated and with an effective date April 10, 2023, prepared by David Pym (Msc), CGeol. of LTI Advisory Ltd. and Dr Toby Strauss, CGeol, EurGeol., of Merlyn Consulting Ltd., which has been filed on SEDAR+ at www.sedarplus.ca under the profile of the Company and on the Company's website.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, timing and completion of any exploration on the Company's properties, estimates of mineralization from drilling, sampling and geophysical surveys, geological information projected from drilling and sampling results and the potential quantities and grades of the target zones, the potential for minerals and/or mineral resources and reserves, intentions, beliefs, and current expectations of the Prospect Mountain Mine complex and the Company, including with respect to the future business activities and operating performance of the Company that may be described herein. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.
By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, accuracy of assay results, geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services, future operating costs, and the historical basis for current estimates of potential quantities and grades of target zones, as well as those risk factors discussed or referred to in the Company's Management's Discussion and Analysis for the year ended December 31, 2024 and the quarter ended March 31, 2025, available at www.sedarplus.ca, many of which are beyond the control of the Company. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/259424
FAQ
What did North Peak Resources (NPRLF) pay for the remaining 20% of Prospect Mountain Mine?
What are the key drilling results from North Peak's 2024 Prospect Mountain campaign?
What rights did the Erickson family receive in the NPRLF acquisition deal?
What type of mineralization systems were identified at North Peak's Prospect Mountain property?
Why did North Peak Resources abandon the Kenogami Lake Property option?
