Northstar Gold Corp. (CSE:NSG) announced it has defined a high-grade exploration target at the historic Cam Copper Mine, located within the Miller copper-gold property, located 18 kilometres southeast of Kirkland Lake, Ontario.
The newly defined No. 2 Zone Exploration Target is estimated to contain 75,000 to 140,000 tonnes grading between 9% and 18% copper, with a conceptual average grade of 12%, Northstar said on Thursday.
The Exploration Target Study was based on 15 mineralized drill intercepts and 3D geological and block models.
According to Northstar, the target is a steeply dipping, northwest-trending tabular body of copper sulphide mineralization, extending from surface to 200 metres depth and remaining open at depth.
The No. 2 Zone hosts Besshi-type volcanogenic massive chalcopyrite and bornite mineralization and has been historically estimated to average 10% copper over a 0.85 metre true width to at least 140 metres depth.
Northstar highlighted that its 2023 to 2024 drill program supports this, including an intercept of 14.8% copper over 2.45 metres in one drill hole.
Additionally, the company announced that Novamera is incorporating the No. 2 Zone data into a Surgical Mining Evaluation Study under an MOU signed with Northstar.
The study aims to assess Novamera’s low-impact, data-driven mining method for narrow vein deposits. A multi-stage program is planned to test and extract material, pending definition and permitting of an economic deposit.
Northstar said it is also preparing to commission a NI43-101 technical report and mineral resource estimate for the No. 2 Zone.
Canadian-listed shares of Northstar Gold gained around 16.7% on Thursday morning to reach nearly $0.04.