Northstar Gold Corp (CSE:NSG) (OTCMKTS:NSGCF) shares gained ground as the company revealed that second phase drilling at its flagship Miller Gold property in Ontario had expanded the near surface Allied Syenite Gold Zone.
The first phase of the program is now complete, the company said, and between March 15 and April 27 this year, eight holes for 1,990 metres (m) were sunk, following up on the 2020 near-surface bulk-tonnage Allied Syenite Gold Zone discovery.
READ: Northstar Gold begins drilling at Miller Gold property
In one hole along the western flank, initial results from two samples included abundant visible gold and tellurides in a near-surface quartz vein between 14.1m to 14.2m within the first sample grading 193 grams per ton (g/t) gold over 0.6m from 14.0m to 14.6m in the Vein 2 zone.
Further down the same hole, abundant visible gold, tellurides and bismuth sulfosalts were observed in a quartz vein between 69.7m and 69.8m depth within the second sample grading 1,010 g/t gold over 0.5m from 69.5m to 70m in Vein 3.
"Miller property drilling continues to return exceptional 'Kirkland Lake-style' high-grade gold-telluride intercepts within the Allied Syenite", said Brian Fowler, the CEO of Northstar in a statement.
"While we won't know the full implications of these intercepts until all assay results are received, our hope is that these reported high grades occur within confirmed broader intervals that will ultimately be as good or better than last year's results from nearby holes MG20-47 (1.2 g/t Au over 107.3m) and MG20-49 (1.4 g/t Au over 118.5m).
"This would provide further confirmation that the bulk-tonnage gold potential of the Allied Syenite Gold Zone has been significantly expanded in terms of size and scope," he added.
A total of 205 sample assay results are pending for one of the two holes recently sunk at the Allied Syenite Gold Zone discovery and 295 sample assay results are pending for the other.
Mineralized intercepts were obtained in all 8 Phase IIA drill holes and assay results will be reported as they come available, said the company.
Northstar shares in Canada added over 18% to C$0.26 each.
Contact the author at giles@proactiveinvestors.com