Northstar Gold Corp CEO Brian Fowler shared exciting news with Proactive about the company’s signing of a non-binding memorandum of understanding (MOU) with China-based Hunan Nonferrous Geological Exploration. The MOU grants Hunan Nonferrous the rights to explore and develop a near-surface NI43-101 gold mineral resource at Northstar’s 100%-owned Miller Copper-Gold Property in Ontario.
The agreement involves up to 10,000 meters of diamond drilling, with Hunan Nonferrous earning a negotiated interest in the resulting gold resource. Hunan Nonferrous has accepted Northstar’s invitation to conduct due diligence site inspections in early October, with a team of specialists set to visit Northstar’s offices and facilities in New Liskeard and Earlton, Ontario, as well as the Miller Copper-Gold Property.
Following the site inspections, both parties will enter good faith negotiations to finalize the earn-in terms, scope, and timeline, aiming to formalize a binding Cooperative Agreement for the development of the gold mineral resource.