Latest drilling shapes as ‘game changer’ for Northern Star Resources
THE DRILL SERGEANT: Drilling being conducted by Northern Star Resources at the company’s Paulsens gold mine in Western Australia has intersected, what the company described as “significant high-grade gold”.
The intersection was encountered approximately 150 metres down plunge from the known limits of the orebody at Paulsens via surface drilling.
Results of note include (downhole lengths):
– 1.1 metres at 30.7 grams per tonne gold from 330 metres, including 0.43 metres at 63.5 grams per tonne gold; (the deepest intercept in the history of the mine)
– 0.3m at 40.8g/t gold from 410m;
– 2.7m at 1.7g/t gold from 340m; and
– 3.3m at 1.3g/t gold from 335m.
Northern Star said the results of up to 63.5gpt demonstrate potential to grow the resources, reserves and mine life at Paulsens.
The intersections were the first in a deep drilling campaign being conducted by the company, which is aimed at extending the life of the Paulsens mine to between seven and ten years.
Northern Star has already started drilling the next “parent hole” in this program, which is another 200m down plunge from the first one.
The program involves drilling parent holes from surface at distances of about 200m apart down plunge.
A series of “daughter holes” can then be drilled at angles from the parent holes.
Long section view of Paulsens mineralisation and surface deep drilling. Source: Company announcement
The company said it considered the results to be strong evidence the current drilling program had the potential to be a “game-changer”.
It claimed this confidence was supported by the third daughter hole from the first parent hole, which intersected 13m of quartz.
“We committed the company to this program because the potential return for Northern Star is so substantial,” Northern Star managing director Bill Beament said in the company’s announcement to the Australian Securities Exchange.
“These initial results point to the Paulsens orebody continuing for about 150 metres down plunge of the existing known parameters.
“The second parent hole is stepped-out about another 200 metres down plunge and plans are underway for a third and fourth.
“This is an aggressive strategy with significant upside for Northern Star due to the opportunity to add vast amounts of gold and therefore longer mine life which may result.”
Northern Star revealed last week that its push to increase both the mine life and profit margins at Paulsens had received a significant boost from a series of high-grade results at the flagship Voyager 1 lode.