Company
CNSX:NSG
Northstar Gold Corp listed on the CSE early in 2020 by way of a $3 million initial public offering (IPO) and is focused on advancing exploration properties in the prolific Abitibi Greenstone belt and Kirkland Lake district in Ontario. The group's flagship asset is the wholly-owned Miller gold project, which is a resource stage property,18 kilometres (km) southeast of Kirkland Lake Gold's Macassa mine complex. Between 2014 and 2020, Northstar drilled over 10,868 metres (m) - 55 holes - and encountered multiple high-grade and broad, low-grade intersections with abundant coarse visible gold and tellurides. The company also holds the Searles property - a 64-hectare asset, which sits 18 km southeast of Kirkland Lake, on the No. 1 Vein of the Miller Independence Mine, which straddles Northstar’s adjoining Miller project to the west. It also has the Rosegrove property, a 1,200 hectare “Kirkland-style gold” asset near Miller and the 5,090 hectare Bryce gold project, where drill assays have included 0.86 g/t gold over 80m and 1.08 g/t of gold over 56m. It also holds the Milestone copper, nickel, cobalt property, including the Diadem deposit discovered by Teck Resources, which occurs along the same geologic contact that hosts the former Temagami Island Copper mine 20 km to the southwest.
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The gold exploration company said seven boreholes totaling 2,100 metres (m) will be surveyed in the vicinity of the Allied Syenite to facilitate step-out drill hole targeting of new discoveries made
The Britcanna lease is encompassed by Northstar's Bryce asset and is host to lode gold, volcanogenic polymetallic sulphides and porphyry-related mineralization within the so-called Britcanna porphyry
Ronacher McKenzie Geoscience completed the report following a recent airborne LiDAR survey and Fall 2021 surface exploration at the property, which Northstar aims to advance, potentially via an earn-in agreement or spin-out transaction
Recent exploration and step-out drilling successfully defined the near-surface Bulk Tonnage Allied Syenite Gold Zone as a 350 metre by 200 metre surface zone that includes multiple gold intercepts, the company said
The explorer has now released the assays from the final three Phase IIB holes at the Allied Syenite bulk tonnage zone, which has now been defined by drilling and surface sampling to an area 350 metres (m) by 200m
Three drill holes produced widely distributed anomalous gold grades, including occurrences of visible gold and tellurides over significant widths within the Allied Syenite
The best results came from two of the eight areas - C1 and C2 - with the former home to 14.79 grams per ton (g/t) gold over 7 metres (m) and the latter housing 4.52 g/t of the precious metal over 4m
The company said drilling indicates the presence of a significant near-surface bulk tonnage gold zone
The group's Miller gold project, which is a resource stage property, lies18 kilometres southeast of Kirkland Lake Gold's Macassa mine complex
So far, a total of 1,450 metres (m) have been drilled in 11 holes in the 2,400m Phase IIB program, with three holes testing the near-surface Allied Syenite bulk tonnage gold zone
Boart Longyear mobilized a rig and crew in late September this year, and so far has completed 662 metres in three holes, the company said
The company said drilling is set to start in late September, with a focus on step outs from the Phase IIA Allied Gold Zone and adjacent Searles property
The program, which commenced on July 27, 2021, includes prospecting, mechanical stripping, geological mapping and channel sampling of selected areas at the Miller Gold property in Ontario
The offering was comprised of 2,999,806 flow-through units for a total of $929,939.86 and 2,293,856 non-flow through units, totalling $642,279.72.
The report noted that two shear zones and a few faults had been discovered, and may play a key role in the control of gold mineralization
The Miller property shares many important geological similarities with and lays just 18 kilometers southeast of Kirkland Lake Gold's Macassa SMC gold mine
Proceeds from the offering will fund exploration at the Miller, Bryce, and the recently acquired Searles properties
George Pollock, Northstar's vice-president of exploration, said the acquisition had been a "long time coming" and was a key part of the company's Miller gold property consolidation strategy
Between March 15 and April 27, 2021, Northstar drilled 1,990m in eight holes in a Phase IIA program at Miller
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 were sunk
