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Northern Star Resources Ltd.
Summary
| Project: | Pogo | |
|---|---|---|
| Deposit: | Pogo | |
| Location: | United States | |
| Commodities: | Gold | |
| Date: | 10/16/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 16-10-2018: Northern Star Resources Ltd. announces a Resource Estimation report for its Pogo deposit at the Pogo project. Updated mineral resources at Pogo project. Northern Star Resources (ASX: NST) is pleased to announce that the JORC 2012-compliant Res | |
| Resources: | (Resource, Total): 8.8Mt @ 14.7g/t Au for 4.15Moz Au contained at Pogo | |
| CP/QP: | [Resources]: Aaron Green, Brook Ekers, Darren Cooke (CSA Global Pty Ltd.;Internal) | |
| ABSTRACT: | Northern Star Resources (ASX: NST) is pleased to announce that the JORC 2012-compliant Resource at its Pogo gold mine in Alaska is 8.8 million tonnes at 14.7gpt for 4.15 million ounces. This estimate excludes the 765,000oz in Pogo satellite deposits which were included in the 4.1Moz non-JORC resource at the time of Northern Star’s acquisition (see ASX release dated August 30, 2018). As a result, the in-mine Resource is now 24 per cent higher than at the time of the acquisition. This increase is predominantly through interpretation and remodelling of known mineralisation. The JORC-compliant Resource includes Indicated Resources of 3.3Mt at 15.7gpt for 1.7Moz and Inferred Resources of 5.5Mt at 14.1gpt for 2.5Moz. Northern Star Executive Chairman Bill Beament said the maiden JORC estimate, which was calculated in conjunction with independent mining industry consultants CSA Global, was an outstanding start to the Company’s ownership of Pogo. “This is an important result because it not only meets, but exceeds, our understanding of the Pogo mine and our view of its potential,” Mr Beament said. “It is also very satisfying to match the previous 4.1Moz non-JORC resource without including the 765,000oz resources contained in the satellite deposits which formed part of that original estimate. “The upshot of this is we have already increased the in-mine Resource by 24 per cent.” Mr Beament said that with Northern Star assuming management control of Pogo on September 28, 2018 the focus would now move to resource definition and extensional drilling programs. There are eight diamond drilling rigs currently operating at Pogo, representing an anticipated investment of A$15-20 million for FY2019. Four of these rigs are underground, focusing on resource definition drilling in the North Zone and Leise vein system as well as targeting resource extensions within the Fun Zone. The remaining four diamond drill rigs are on the surface, exploring new lateral and downdip extensions to the main Leise vein system adjacent to the Fun Zone production area. | |
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