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Northern Star Resources Ltd.
Summary
| Project: | Carbine | |
|---|---|---|
| Deposit: | Carbine | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/28/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-7-2016: Northern Star Resources Ltd. announces a Resource Estimation report for its Carbine deposit at the Carbine project. Updated mineral resources for project. Northern Star Resources Limited (ASX: NST) is pleased to advise that its strategy to grow | |
| Resources: | (Resource, I+I): 7.234Mt @ 1.4g/t Au for 317000oz Au contained at Carbine | |
| CP/QP: | [Resources]: Nick Jolly (Internal) | |
| ABSTRACT: | Northern Star Resources Limited (ASX: NST) is pleased to advise that its strategy to grow production to 700,000 ounces a year in 2018 is well on track with a 33% increase in Reserves to two million ounces. Resources increased by 350,000oz to 9.25 million ounces. Importantly, the new Resource estimate contains a 12% increase in the Measured and Indicated category, taking that total to 4.9 million ounces. The increases come despite Northern Star mining 611,000 ounces since the previous estimate was calculated a year ago. The additional Reserves have been delivered at a cost of just A$50 per ounce, which is a remarkably low figure given global transaction multiples equated to ~A$500 per reserve ounce over the past 12 months. These revised estimates also include just one of the five discoveries made by Northern Star over the past year. Further work is now underway with the goal of bringing the other four discoveries into the JORC estimate. The substantial inventory growth reflects the significant success of Northern Star’s exploration strategy and shows that the Company is meeting the objectives of increasing its mine lives and supporting future production growth. | |
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