Northern Star Resources Limited (ASX: NST) has provided an update on its FY26 exploration program, highlighting that drilling continues to deliver value-creating organic growth opportunities to strengthen the company’s track record of exploration success.
Northern Star is the largest gold producer with a primary listing on the ASX. Its production centres are Kalgoorlie and Yandal in Western Australia and Pogo in Alaska, US. The company also owns the Hemi development project in the Pilbara, Western Australia.
In line with its regular reporting schedule, the company will provide an Annual Mineral Resources and Ore Reserves Statement for the 12 months ended 31 March 2026 in May 2026.
Key exploration points
- Sustained exploration investment highlights ongoing geological potential across assets and a measured approach to enhance portfolio quality
- FY26 exploration spend of A$225 million (unchanged) supports long-term value, near-mine growth and strategic conversion of extensive mineralised systems
- Key highlights to date include:
- At KCGM, new underground areas continue to facilitate increased drilling activity aimed at providing near-term optionality and long-term visibility
- Fimiston South mineralisation footprint extends up to 800 metres below existing Mineral Resource
- Mt Charlotte new prospect, Golden Goose, identified
- At Kalgoorlie Operations, new opportunity at Ballarat-Last Chance Project, immediately west of Red Hill Mineral Resource, while drilling at recent Hercules discovery builds confidence
- At Yandal, mine life extension opportunities identified proximal to current mining infrastructure
- At Pogo, extensional drilling has highlighted several high-priority targets, reflecting the scale of this world-class system
- At Hemi, future potential growth opportunities identified adjacent to existing Resource, early regional success at Mt Berghaus
- At KCGM, new underground areas continue to facilitate increased drilling activity aimed at providing near-term optionality and long-term visibility
- FY26 efforts to date build on industry leading cost of Resources addition of A$19/oz, for 12 months to March 2025
- Inclusion of Hemi Mineral Resources and Ore Reserves in group’s Annual Statement to be released May 2026; current work includes technical reviews of models and assumptions
Commenting on the company’s exploration update, Northern Star managing director Stuart Tonkin said:
“This update highlights the strong organic growth potential across our global portfolio. Our team continues to balance exploration priorities, from resource definition through to conversion, creating shareholder value by delivering low-cost Resource ounces.
“At Kalgoorlie, drilling and investment are driving growth, with future options to supply high-margin ore to the expanded Fimiston mill from FY27. At Pogo, new drill drives have enabled extensional drilling, while surface programs advance near-mine opportunities, unlocking high-priority targets such as Goodpaster, Star and Central Link.
“The integration of our recent strategic acquisition, the Hemi Development Project, into our gold inventory is underway, with approvals progressing for what is to become our fourth production centre.”
