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Following the close of Northstar's recently completed IPO (See Northstar News Release dated
Drilling is expected to commence in late February or early March, with a preliminary focus on confirming and expanding portions of the near surfaceMiller-Independence historic estimate of 270,000 ounces of gold averaging 11.5 g/t Au*to NI 43-101 Mineral Resource Estimate reporting standards and the Planet Syenite Exploration Target, consistingof approximately 100,000 to 500,000 additional ounces of gold in 3.0 - 5.0 Mt of mineralized material averaging between 1.0 - 3.0 g/t Au.** Drilling will also follow-up other known near-surface high-grade and intrusion-hosted gold targets including the Allied Syenite.
*
A Qualified Person has not done sufficient work to classify these historical estimates as current mineral resources and the Company is not treating these historical estimates as current mineral resources. These historical estimates cannot be fully verified. These values cannot and should not be relied upon, are only referred to herein as an indication of previously defined gold mineralization. In order to verify these estimates and to upgrade to NI 43-101 compliant categories, the historical areas would need to be re-drilled with updated sampling procedures put in place.
** The potential quantity and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
The Miller Gold Property
The Miller Gold Property shares numerous important geological similarities to nearby
The Miller Gold Property hosts unique Kirkland Lake style and high-grade gold-telluride mineralization in low angle and vertical quartz veins and shears cutting highly altered intrusive syenite stocks and mafic volcanic rocks. The similarities between the Kirkland Lake discoveries such as the lower
- Gold mineralization in the SMC is predominately hosted in calaverite, a gold telluride; the same major gold telluride mineral at Miller.
- Both the SMC and Miller feature multi-stage, long-lived alkalic magmatic gold deposition with an age of the mineralizing event of 2,680 - 2,660 Ma.
- The Catharine Fault zone on the Miller Property and the Larder Break near Kirkland Lake are both "First Order Structures", potentially sharing a gold enriched magmatic hydrothermal reservoir at depth.
- The Barry-Hollinger Shear/D-Zone (Miller Property) and the Main/'04 Breaks (Kirkland Lake) are geometrically identical, and may coincide with the same deformation event
Recent Northstar exploration results in Miller Gold Property target areas include:
No. 1 Vein
- 11.6 g/t Au over 3.95 m in DDH MG14-12 between 138.05 m and 142 m
- 86.6 g/t Au over 0.45 m in DDH MG14-02 between 49.7 m and 50.15 m
- 5.1 g/t Au in 932 tonne bulk sample with an estimated 70% dilution
- 7 Channel cuts in Trench 1 averaged 20.1 g/t Au over 2.2 m
- Channel cut in Trench 2 averaged 5.9 g/t Au over 5.0 m
D zone
- 36.1 g/t Au in 122 kg mini bulk sample
- Channel cuts in Trench 4 graded 34.8 g/t Au over 1.0 m and 27.8 g/t Au over 1.0 m
Allied Syenite
- 14.1 g/t Au over 3.05m in DDH MG15-20 between 311.85 m and 314.9 m
- 1.04 g/t Au over 97.5 m in DDH MG14-07 between 22 m and 119.5 m including 3.2 g/t Au over 14.03m between 105.47 m and 119 m
Planet Syenite
- 0.57 g/t Au over 147.19 m in DDH MG15-24 between 48.45 m and 198.64 m including 7.3 g/t Au over 4.7 m between 52.3 m and 57.0 m
Meilleur Syenite
- 20.8 g/t Au over 0.95 m in DDH MG15-26 between 86.55 m and 87.5 m
- 14.3 g/t Au over 1.4 m in DDH MG15-26 between 293.8 m and 295.2 m
Northstar diamond drilling in 2014 confirmed the presence of the No. 1 Vein hosting gold mineralization in the area of the Miller-Independence historic mine workings at shallow depths. The program also showed No. 1 Vein dips shallowly to the north towards the Allied Syenite where the vein system may widen and become incorporated into the Allied Syenite as multiple sub-horizontal narrow veins in a fingering manner suggestive of a genetic relationship in the gold mineralization. Gold is very widely distributed throughout Allied Syenite from 20 to 120 m vertical depth with most samples showing anomalous results. New high-grade zones were discovered at depth below the previously explored No.1 Vein within the Allied Syenite in holes MG15-18 and MG15-20 which confirmed historic reporting. The drilling results indicate the No.1 Vein zone is laterally extensive and remains open in all directions, particularly to the northeast of the Allied Syenite.
Historic drilling results on the Planet Syenite were confirmed with drill hole MG15-24 which intercepted high grade gold in a near surface stockwork zone within a larger envelope of pervasive alteration. MG15-24 returning 7.3 grams of gold per tonne over 4.7 m between 52.3m and 57 m within a larger interval of 3.3 g/t Au over 11.55m between 48.55 m and 60 m.
On
A
Qualified Person
About
Northstar has operated for the past 11 years as a private company focused primarily on gold exploration in the prolific
On behalf of the Board of Directors, For further information, please contact:
Mr.
President, CEO and Director Conduit IR
(604) 617-8191 (403) 200-3569
bfowler@northstargoldcorp.com dwood@conduitir.com
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Northstar Goldcorp. which may cause actual results, performance or achievements of
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Copyright (c) 2020 TheNewswire - All rights reserved., source