Northern Star drills big numbers at Paulsens
THE DRILL SERGEANT: Northern Star Resources has achieved some impressive resource extension drilling results yet at the Voyager 1 lode at its Paulsens gold mine in Western Australia.
The company is confident the latest results could set up further increases in resources, production and mine life.
The intersections include:
– 18.8 metres at 62.7 grams per tonne gold, including 7.0 metres at 140.7 grams per tonne gold (with 0.85 metres at 773 grams per tonne gold);
– 13.3m at 12.2 g/t gold; and
– 6.4m at 120.2 g/t, including 2m at 345.4 g/t gold.
Northern Star said it will use the latest results to form part of its next resource upgrade, which in turn will underpin a revised mine plan for Paulsens, including increased mine life, production and cashflow.
The new mine plan will become an important aspect of Northern Star’s strategy to increase its total production to 200,000 ounces per annum from the current rate of 80,000 ounces per annum.
Northern Star said it considers these latest results from the Voyager 1 lode to be quite significant as they confirm the extension to the main ore zone, commonly referred to as the Upper Zone, it announced in September.
The company highlighted the first intersection, which returned multiple numbers of assays greater than 100 g/t gold, with a maximum intercept of 773 g/t gold.
It also pointed to the third intersection saying it adds further support for a substantial down plunge extension to the Voyager 1 lode due to it being the deepest mineralisation intersected in Voyager 1 to date.
Voyager 1 lode is the main ore source at Paulsens and has produced 100,000 ounces of gold over the past 15 months.
It continues to be open down plunge and dip and is emerging as the company’s major source of production for at least the next two years.
When combined with the potential of the Voyager 2 mineralisation, Northern Star is confident Paulsens stands to have a projected life of at least another five years.
“These significant high-grade results will make a substantial contribution to an upgraded mine plan for Paulsens, including increased resources, production and cashflow,” Northern Star Resources managing director Bill Beament said in the company’s announcement to the Australian Securities Exchange.
“Combine these extensions to Voyager 1 with the successful delineation of Voyager 2 and it is abundantly clear that the financial prospects for Northern Star are exceptionally bright.”