Northstar Gold Corp. (CSE:NSG) has announced a Memorandum of Understanding (MOU) with Novamera to explore and mine the high-grade Zone 2 of the Cam Copper Mine using Novamera’s Surgical Mining technology.
This innovative mining method combines AI and machine learning with precision drilling, allowing for the efficient extraction of narrow, steeply dipping copper deposits with minimal environmental impact.
Under the agreement, Novamera will secure financing to conduct a four-stage program aimed at extracting copper from the copper-rich Zone 2 of the Miller copper-gold property in Ontario.
Zone 2 is the largest of three narrow, steeply dipping tabular copper horizons, previously estimated by an earlier operator to average 10% copper across a true width of 0.85 meters, with a strike length of 42 meters and a minimum depth extent of 140 meters from the surface.
Recent drilling confirmed the copper grades in this zone, with one intercept showing 14.8% copper over 2.45 meters.
The MOU outlines a multi-staged process over the next 12 to 18 months, including an economic evaluation, permitting, and initial extraction, with potential expansion across additional zones within the Cam Copper Mine. It also includes potential expansion to other areas within the property.
Northstar CEO Brian Fowler highlighted this partnership, building on the company’s recent MOU with Hunan Nonferrous which focuses on developing an NI 43-101 gold resource at its nearby Miller Alkalic Intrusive Complex, represents yet another non-dilutive approach to advance and monetize the company’s high-grade gold and copper projects.
“We're thrilled to collaborate with Novamera to establish a sustainable mining operation at Cam Copper, utilizing their cutting-edge, eco-friendly Surgical Mining technology for critical minerals,” Fowler said in a statement.
"The Novamera MOU significantly strengthens Northstar's ability to explore and develop the narrow, high-grade copper zones at Cam Copper. Looking ahead, this partnership could pave the way for further agreements to explore and exploit a 3 kilometer stretch of VMS copper horizons, including the historic high-grade Amity and Patterson Mines on the adjacent Boston Creek Mines Property.”
Dustin Angelo, Novamera CEO, emphasized that the company's technology offers a quicker, cost-effective path to production, providing a sustainable solution for unlocking high-value mineral deposits.
“Through our advanced AI and machine learning technologies, we enable mining companies to leverage conventional large-diameter drilling equipment to surgically extract deposits with minimal upfront capital and a quicker path to profitability,” Angelo said.
“This innovative approach offers a transformative model for the industry, allowing mining companies to capitalize on deposits that would otherwise be untapped using traditional methods.”