Northern Star targets A$50m exploration spend in next year
KALGOORLIE (miningweekly.com) – Gold miner Northern Star Resources on Monday reported that its campaign to increase the mine life of its operations was off to a good start, after strong drilling results were recorded at its Pegasus deposit and Paulsens mine, in Western Australia.
The miner noted that the latest results from the Pegasus deposit, which forms part of the Kundana project, had indicated that known mineralisation extended to 100 m below the current resource, while also expanding the strike length by 150 m, to 850 m.
A June resource estimate placed the Pegasus resource at 2.1-million tonnes, grading 11.4 g/t gold for 763 000 oz. It was expected that the mine would cost some A$10-million to develop, with first production scheduled for the end of this financial year.
Pegasus would contribute 50 000 oz to Northern Star’s yearly production from the middle of 2015.
Meanwhile, drilling at the Voyager 2 lode and Titan high-grade discovery, at the Paulsens mine, also returned significant assays and confirmed that the mineralisation continued.
Northern Star MD Bill Beament reiterated that growing the mine life at each of the company’s five assets was now the gold miner’s main focus.
“We have achieved our goal of growing and diversifying our asset base. Now that we have bedded down those acquisitions, our next objective is to extend the mine life at each of those assets,” he told delegates at the Diggers & Dealers conference, in Kalgoorlie.
Northern Star was expected to spend some A$50-million over the next 12 months on exploration in the pursuit of extending the life of its operations.
“This reflects our real strong belief that there is an enormous amount of high grade, high profit gold in and around our current assets. And if we get this right, which we will, for every additional year we add to our company’s mine's lives, our company’s valuation increases by 30c a share,” Beament said.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















