Northstar Gold Corp. (CSE:NSG) has updated investors on its operations at the Miller copper-gold property, southeast of Kirkland Lake, Ontario, where an exploration drive is advancing to establish a substantial mineral resource.
The company, which is aiming for more than a million ounces of equivalent gold and high-grade copper resources, in a statement today confirmed the closing of the third tranche of its previously announced private placement – with proceeds earmarked to fund exploration at the Miller property.
It highlighted that the company has invested over $5.6 million in exploration since its initial public offering (IPO) in late 2020, and its efforts have lead to notable discoveries.
Among them, the Allied Gold Zone has shown potential for over 500,000 ounces of gold to date, as indicated in a previously published exploration target study which underscored the size and potential of the AGZ mineralizing system.
Meanwhile, at the property’s Cam Copper Mine, the company also highlights promising results.
Recent drilling has intersected lenses of copper-rich volcanogenic massive sulphides, indicative of the site's potential for high-grade copper mining, Northstar noted.
Beyond the Miller property, Northstar's team has made strategic acquisitions and explorations in the Rosegrove, Bryce, and Milestone properties, diversifying its focus on various mineral deposits.