Northern Star adds resources
PERTH (miningweekly.com) – Gold miner Northern Star Resources has added resources to both its Jundee and Pegasus deposits, in Western Australia.
The miner said on Monday that exploration at the Jundee gold mine had added about 300 000 oz to the resource and a further 32 000 oz to the reserve, increasing the resource to 1.15-million ounces and the reserve to 415 000 oz.
The increase in the Jundee reserves and resources comes despite some 120 000 oz of gold being mined since the estimate was last calculated in 2014.
The underground resource estimate also increased by 21 000 oz, while the underground reserve increased by 24 000 oz.
Meanwhile, the total resource at the Pegasus deposit, within the Kundanda project, had increased by 46% to 1.1-million ounces, compared with the 2014 estimates.
MD Bill Beament said that in addition to the resource increase at Pegasus, the recent infill drilling had also substantially increased the company’s confidence in the resource estimate. The indicated resource has been increased by 199 000 oz, to 743 000 oz, and now constituted 66% of the total resource.
“We are confident that our new understanding of the geology at Kundana will lead to further substantial discoveries and resource increases along the Kundana corridor,” Beament said.
“We also believe we are well on the way to cracking the code at Kundana and that we are now poised to unlock the full potential of this mining camp.
The Pegasus deposit was expected to come into production by mid-2015, and the Kundana project as a whole was expected to produce between 100 000 oz and 110 000 oz during the 2015 financial year.
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