Northern Star Resources Ltd (ASX: NST) has provided an exploration update following more than 150,000m of drilling that have further extended organic growth optionality across all three production centres.
The drilling is part of Northern Star’s FY23 exploration program, designed to support the company’s five-year profitable growth strategy. Northern Star will provide an Annual Mineral Resource and Ore Reserve Statement for the year ended 31 March 2023 in 2H23.
KEY POINTS
- Ongoing exploration and in-mine growth success highlights significant life-of-mine extension potential
- Drilling at KCGM from first dedicated underground drill drive continues to generate strong results to support long-term growth strategies
- New Joplin deposit and further growth at Red Hill offers meaningful optionality at Kanowna Belle
- Wonder North & Golden Wonder discovery delivers further exceptional results, 25km from Thunderbox plant
- Drilling at Goodpaster deposit at Pogo continues to intersect high grades outside of maiden Mineral Resource
- 26 active drill rigs (on growth) across global portfolio; improving assay turnaround times
- FY23 exploration spend of A$48M to date (vs FY23 exploration budget of A$125M)
Commenting on the exploration update, Northern Star Resources managing director Stuart Tonkin said:
“Our exploration team has made a strong start to FY23, advancing some exciting early-stage prospects across our global tier-1 portfolio as well as expanding beyond known areas of mineralisation. Our exploration team’s depth and experience continue to deliver strong success for Northern Star, adding to our organic growth optionality.
“KCGM’s mineralisation continuity extends, showcasing the significant opportunity that exists across Fimiston North, Fimiston South, Mt Charlotte and regional areas. These results further strengthen our strategic thinking for this region. Drilling from the first dedicated underground drill drive continues to encourage mineral resource growth.
“We are particularly excited about the new underground Joplin discovery extending life at Kanowna Belle as well as regional drilling at Red Hill, which has outlined a significant mineralised porphyry system to add to our growth optionality across the Kalgoorlie region.
“At Yandal, development of a satellite pit pipeline continues to show encouraging results, particularly for our recently expanded TBO mill. In-mine growth drilling at Jundee has outlined encouraging extensions, supportive of continued performance at this high free cash flow generating asset.
“At Pogo in Alaska, the recent drill results reinforce the enormous growth potential as we transition the mine for the next decade. The results outline expansion of the mineralisation trend at Goodpaster while in-mine drilling has delivered exceptional results to expand the resource potential within the mine area.
“We are making exceptional progress with our exploration program and continue to focus on extending mine lives and developing high-margin ore reserve growth at our three production centres. Ongoing exploration success enables low-cost resource inventory build and underpins our purpose to deliver superior shareholder returns.”
