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Northern Star Resources Ltd.
Summary
| Project: | SKO | |
|---|---|---|
| Deposit: | HBJ, COZ | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 12/20/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-12-2018: Northern Star Resources Ltd. announces an Exploration/Drilling Update report for its HBJ, COZ deposit at the SKO project. Drilling results incl. 11.20m @ 8.1g/t Au. Northern Star Resources (ASX: NST) is pleased to announce strong exploration r | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Michael Mulroney (Internal) | |
| ABSTRACT: | Northern Star Resources (ASX: NST) is pleased to announce strong exploration results which lay the foundations for a further significant increase in inventory and mine lives across its Australian operations. The results, which stem from Northern Star’s record A$60 million FY2019 exploration budget, are expected to underpin both increases in Resources and conversion of existing Resources to Reserves when the Company publishes its annual inventory update in the middle of next year. As at June 30, 2018, Resources at Northern Star’s Australian operations stood at 15.9 million ounces, including Reserves of 4Moz. Northern Star Executive Chairman Bill Beament said the latest results vindicated the Company’s strategy to invest heavily in organic growth. “We continue to find more and more gold around our tier-one operations,” Mr Beament said. “As we have demonstrated repeatedly, this highly successful organic growth strategy drives our industryleading financial returns. “Based on these results and the exploration activity planned for the next six months, we expect to generate substantial increases in our Resources and convert more of them into Reserves by the middle of next year. “This will underpin further extensions in mine lives and provide us with options to continue growing production.” Northern Star intends to publish an operations update on its Pogo Gold Mine in Alaska early in the new year. In-mine expansion and exploration drilling adjacent to the existing mining areas has continued with considerable success. These excellent results, together with new discoveries in the Velvet Lower and Porphyry Xenoliths corridors, are expected to underpin a significant increase in Resources and Reserves at Kanowna in mid-2019 (Figure 1) 1. | |
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