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Northern Star looks at Pioneer project

21st October 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Gold miner Northern Star has struck a deal with fellow-listed Pioneer Resources to fast-track exploration at the Acra gold project, in Western Australia.

Under the agreement, Northern Star will pay Pioneer A$500 000 to acquire an initial 20% interest in the Acra project, and will hold the right to acquire an additional 55% interest in the project by sole funding A$3-million of exploration expenditure over a three-year period.

Following the formation of a joint venture, Pioneer will be free carried until the approval of a mining proposal.

Pioneer MD David Crook said on Friday that attracting Northern Star to the Acra project, with a commitment to actively explore, endorsed the quality of the gold project.

The project, which is 40 km east of Northern Star’s Kanowna Bell gold mill, has a 20-km-long north-west-trending structural corridor, and has been the subject of limited mining and exploration work.

Edited by Creamer Media Reporter

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