Northstar Gold Corp. (CSE:NSG) said it has identified a volumetrically large positive magnetic anomaly on its flagship Miller Gold property in Ontario, thanks to an airborne magnetic survey
The anomaly in the Allied Gold zone of the property shows signs of high magnetic susceptibility, which could mean more sources for gold-copper mineralization. In fact, 11 additional anomalies consistent with possible syenite intrusions have also been identified.
"The Miller UAV magnetic survey results are a potential game changer that indirectly supports the premise the Allied Gold zone is the late-stage, shallow-dipping carapace of an earlier deep-seated, multi-phase gold-copper mafic intrusion-related system, similar in style to Agnico Eagle's advanced Upper Beaver project situated 18 km north of the Miller Gold property," CEO Brian Fowler said in a statement.
He continued, "Alkalic gold-copper deposits such as Upper Beaver have demonstrable vertical copper-gold mineralization and grade continuity that may support both open pit and underground exploitation. Northstar is positioning to confirm this new Allied Gold zone geological model and deeper gold-copper mineralization potential by diamond drilling this summer."
The next step is a LIDAR survey of the entire property, which Northstar expects to conduct next month. After that, a targeted surface mapping, sampling and prospecting program on the Miller and Rosegrove properties is planned.
Ultimately, the goal is to expand the Allied Gold zone, confirm new geophysical insights and target deeper gold-copper mineralization by diamond drilling at the Miller Gold Property this summer.
A full breakdown of the survey and future plans can be found here.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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