Northern Star adds to resource base
PERTH (miningweekly.com) - Gold miner Northern Star Resources has increased the Joint Ore Reserves Committee- (Jorc-) compliant resource at its Ashburton project, in Western Australia, by 66%.
The project is now estimated to host some 1.7-million ounces of gold, taking Northern Star’s total resource to more than two-million ounces.
The company said in a statement that the increased inventory, which comprised 21.3-million tons at 2.4 g/t, underpinned its plan to establish a standalone operation at Ashburton.
In line with this strategy, a maiden sulphide reserve for Ashburton was scheduled to be completed in the second half of the year.
“To establish a 1.7-million-ounce resource with clear scope for further increases is a great outcome anywhere in the world,” said Northern Star MD Bill Beament.
“But to have it in Western Australia, just 200 km from our existing Paulsens project, with all the certainty and other significant benefits that it brings, is very valuable to Northern Star shareholders.”
Beament noted that it was becoming increasingly clear that the Ashburton project would be another standalone operation with low cost and strong cash flows, giving Northern Star the project diversity and critical production mass being demanded by investors.
Beament added that economic and technical studies on the development of Ashburton were well advanced, and were based on a two-staged strategy, with Stage 1 comprising an oxide project and Stage 2 based on a sulphide plant.
Starting production at Ashburton as a free-milling operation was expected to de-risk the subsequent establishment of a long-life, high-grade sulphide operation, and would bring earlier cash flow.
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