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Northern Star Resources Ltd.
Summary
| Project: | Central Tanami | |
|---|---|---|
| Deposit: | Central Tanami, Western Tanami | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 8/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-8-2018: Northern Star Resources Ltd. announces a Resource Estimation report for its Central Tanami, Western Tanami deposit at the Central Tanami project. Updated mineral resources at Western Tanami. Northern Star Resources (ASX: NST) is pleased to annou | |
| Resources: | (Resource, Total): 3.011Mt @ 5.4g/t Au for 525Koz Au contained at Western Tanami | |
| CP/QP: | [Resources]: Brooke Ekers (Internal) | |
| ABSTRACT: | Northern Star Resources (ASX: NST) is pleased to announce that it has embarked on its next round of growth, committing a record A$60 million to an exploration campaign aimed at driving further increases in mine lives and production rates. Over this financial year, the majority of this budget will be directed at converting a significant slice of the Company’s 15.9Moz Resource base to Reserves. Under this strategy, the expected increase in Reserves will underpin further growth in production rates, aided by the substantial processing capacity Northern Star has accumulated at both its Kalgoorlie and Jundee operations. The start of this next round of growth follows Northern Star’s recent success in reaching its 600,000ozpa production target six months ahead of schedule (see ASX release dated June 20, 2018). The 600,000ozpa production achievement came four years after Northern Star acquired its Tier-1 portfolio. Since then, the Company has spent ~A$200 million on exploration to grow its Resources, Reserves and mine lives. As a result, during this period, Northern Star has added 5Moz in Reserves and 9.1Moz of Resources. These significant additions demonstrate the quality of these multi-million ounce endowments and their ability to continue yielding substantial quantities of gold (refer to graph below). Northern Star Executive Chairman Bill Beament said the Company aimed to repeat the process which had been so successful in driving its growth over the past three years. “Three years ago, we initiated an organic growth strategy based on extensive exploration campaigns around our tier-one assets,” Mr Beament said. “This strategy culminated in mine life visibility of plus-ten years and an annual production rate of more than 600,000oz. | |
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