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Northstar Gold seeing positive drill results as its hunt for large gold system in Kirkland Lake continues

Snapshot

The group's Miller gold project, which is a resource stage property, lies18 kilometres southeast of Kirkland Lake Gold's Macassa mine complex

Northstar Gold Corp. -

Quick facts: Northstar Gold Corp.

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CSE:NSG

Price: 0.245 CAD

Market Cap: $13.21 m
  • Miller project shares geological similarities with nearby South Macassa Mine Complex and Sigma/Lamaque mines
  • 2021 drilling at Miller is underway
  • Experienced management

What Northstar Gold Corp does: 

Northstar Gold Corp (CSE:NSG) listed on the CSE early in 2020 by way of a $3 million initial public offering (IPO) and is focused on advancing exploration properties in the prolific Abitibi Greenstone belt and Kirkland Lake district in Ontario.

The group's flagship asset is the wholly-owned Miller gold project, which is a resource stage property,18 kilometres (km) southeast of Kirkland Lake Gold's Macassa mine complex.

Miller has many geological similarities to nearby mines but is relatively unexplored at depth.

The firm reckons there is potential for a large, intrusive-hosted bulk-tonnage system and has embarked on a fully-funded exploration program this year.

Between 1987 to 1988, Nortek Exploration sunk 37 diamond drill holes and estimated a grade and tonnage for the Miller-Independence deposit of 0.73 million tonnes (Mt) at 11.5 grams per tonne (g/t) gold, for 270,000 ounces of metal.

Meanwhile, Northstar, between 2014 and 2020, drilled over 10,868 metres (m) - 55 holes - and encountered multiple high-grade and broad, low-grade intersections with abundant coarse visible gold and tellurides.

The company also holds the Searles property - a 64-hectare asset, which sits 18 km southeast of Kirkland Lake, on the No. 1 Vein of the Miller Independence Mine, which straddles Northstar’s adjoining Miller project to the west.

It also has the Rosegrove property, a 1,200 hectare “Kirkland-style gold” asset near Miller and the 5,090 hectare Bryce gold project, where drill assays have included 0.86 g/t gold over 80m and 1.08 g/t of gold over 56m. It also holds the Milestone copper, nickel, cobalt property, including the Diadem deposit discovered by Teck Resources, which occurs along the same geologic contact that hosts the former Temagami Island Copper mine 20 km to the southwest.

How is it doing:

Exploration has been the theme so far in 2021.

In March, the company said it had begun (now completed) a Phase IIA, 2,200m diamond drill program at Miller.

In the following weeks, drill results reported included 175 g/t gold over 0.6m between 14m and 14.6m and 1,170 g/t gold over 0.5m between 69.5m and 70m depth. A highlight was also, partial results from one hole, which showed 6.6 g/t of gold over a long length at 117m between 14m and 131m depth.

In June, the company reported it had consolidated the ground there by buying the 64 hectare (Ha) Searles property, which is 18 kilometers (km) southeast of Kirkland Lake, Ontario.

In July, the company said it had completed an airborne magnetic survey at the 1,200-hectare Rosegrove Property, which is near the Miller property, and identified two significant structures and five anomalies consistent with possible syenitic intrusions.

Then on August 17, Northstar told investors that a recently started surface exploration program at Miller had returned high-grade gold-telluride diamond drill hole intercepts.

One hole returned 1.17 g/t gold over 107.3m, while another returned 1.43 g/t gold over 118.5m; and another hole returned 6.6 g/t gold over 117m.

The objective for the current program is to further define all structures, veins and other surface mineralized features and collect representative samples of these potential zones both within and adjacent to the Allied Syenite, the firm said.

Northstar also plans to further explore the area housing the positive drill intercepts, following up on the Phase I and IIA exploration programs conducted in 2020 and 2021.

Additionally, the precious metals developer noted another area of interest for surface exploration at the adjoining Searles property.

Northstar said this area has been under-explored and hosts the eastern extension of the historic Vein 1 Zone resource estimate and several intrusive porphyries and syenites within the southern extension of the highly prospective Allied Deformation Zone.

The next step for the Miller project will be a drilling restart planned for the late summer, the company said.

This Phase IIb drill will target 4,600m aiming to expand the Allied Syenite Gold Zone; as well test several 3D IP geophysical anomalies and expand and confirm the No. 1 Vein historic resource estimate on both the Miller Gold and recently acquired Searles property, it added.

On the financing front, Northstar said earlier in August, it had now closed the first tranche of a previously announced $2.5 million non-brokered private placement of units, for gross proceeds of C$1,572,220.

Inflection points:

  • More drill results from Miller
  • Other exploration news
  • Gold price moves

What the boss says:

"We are fully financed for the drill program commencing in late September - about 4,600 metres, 27 holes, following up our Phase 2 results - as well as drill testing the No 1 vein, which has a historic estimate, on the Searles property, so we will be putting in a number of holes upgrading that estimate too, " said CEO Brian Fowler in August this year when he spoke to Proactive's Steve Darling.

Contact the author at giles@proactiveinvestors.com

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Northstar Gold Corp exploration of Miller Gold Property now moving to...

Northstar Exploration CEO Brian Fowler joined Steve Darling from Proactive to share news about their exploration program at the Miller Gold Property in Ontario. The program is now focussing on surface exploration program including prospecting, mechanical stripping, geological mapping and channel...

on 08/17/2021

5 min read