Northern Star Resources claims new Paulsens discovery

THE DRILL SERGEANT: Northern Star Resources (ASX: NST) has claimed a new high-grade discovery at the company’s Paulsens gold mine in Western Australia.

The Titan discovery hole returned 6.9 metres at 24.7 grams per tonne gold from a vertical depth of 700 metres with a second hole returning 2.3m at 4.3g/t gold.

 

Paulsens long section showing Titan discovery. Source: Company announcement

 

Northern Star explained the Titan mineralisation runs parallel and immediately adjacent to the currently-producing Voyager 1 and Voyager 2 lodes.

It is also located just 100m from the existing mine development, meaning the ore would be processed at the Paulsens plant.

Northern Star has drilled ten exploration holes, eight of which have intersected visible mineralised quartz with sulphides and stylolites, and up to 14m in true thickness.

Assays have been received from four holes with two of the remaining six holes containing visible gold.

In the meantime, drilling is continuing.

Northern Star believes the results support its belief there is still a substantial amount of gold to be found both at and immediately around the Paulsens mine as well as within a 10 kilometres radius.

The company considers the latest results demonstrates Titan may have potential to contribute to the inventory and mine life at Paulsens.

“The strength of these results, their close proximity to the Paulsens plant and their relatively shallow depth make Titan an extremely promising discovery,” Northern Star Managing Director Bill Beament said in the company’s announcement to the Australian securities Exchange.

“We have long believed there are substantial discoveries to be made in and around Paulsens, and the Titan find supports that view.

“Discoveries on our Paulsens ground are also one of the most cost – effective ways to create shareholder value and therefore we will continue to focus our exploration resources on this area.”