Gold Stock News: Northstar (CSE: NSG) Commences Borehole Geophysics Program at Miller Gold Property
Vancouver, British Columbi - May 25, 2022 (Newsfile Corp.) (Investorideas.com Newswire) Northstar Gold Corp. (CSE: NSG) (OTCQB: NSGCF) ("Northstar" or the "Company"), announces that a borehole geophysics program has commenced on the Company's 100%-owned Miller Gold Property, situated 18 kilometres southeast of Kirkland Lake, Ontario.
Quebec-based Abitibi Geophysics Inc. has commenced a borehole Induced Polarization-Resistivity (IP-RES) survey utilizing an in-hole pole-dipole array with 20 metre dipole spacing, n = 1 to 5, and readings every 20 metres along pre-existing drill hole traces (10 metres over anomalies) providing an area of investigation within a 40 metre radius away from the borehole (Figure 1). Seven boreholes totaling 2,100 metres will be surveyed in the vicinity of the Allied Syenite (Figure 2) to facilitate step-out drill hole targeting of new discoveries made in drill holes MG20-49 (1.43 g/t Au over 118.5m) , MG21-56 (6.6 g/t Au over 117m) , MG21-64 (4.71 g/t Au, 0.51% Cu over 6.4m), MG21-65 (9.41 g/t Au, 1.03% Cu over 3m) and MG21-70 (4.0 g/t Au over 50.6m).
The information collected by the survey, when processed with previously collected data from prior surface 3D IP-RES surveys at Miller, also conducted by Abitibi Geophysics Inc., will provide for full 3D resistivity and chargeability models of the subsurface with greatly enhanced resolution constrained by actual borehole observations and geological modeling.
I.P. - an Effective Gold Exploration Tool at the Miller Gold Property
In both the Allied Syenite and iron-rich mafic volcanic host rocks, surface survey IP chargeability anomalies effectively define areas with gold associated pyrite and chalcopyrite mineralization (drill holes MG21-64 and MG21-65). IP surveys to date have also defined conductive structures such as the Independence Fault Zone and the Vein 1 Zone with chlorite and sulphide rich breccias representing pathways for hydrothermal fluids that typically host anomalous gold values and/or act as controls on nearby gold mineralization.
The Miller borehole survey is expected to be completed by the end of May. Results will be integrated with the Company's updated 3D geological model to provide targeting basis for a Phase III exploration drill program.
Brian P. Fowler, P.Geo., a 'Qualified Person' (Q.P.) as defined under Canadian National Instrument NI 43-101, has reviewed technical aspects of this news release.
About Northstar Gold Corp.
Northstar's primary exploration focus is the advancement of the Company's flagship, 100%-owned Miller Gold Property, situated 18 km southeast of Kirkland Lake and Agnico Eagle Mine's Macassa SMC gold mine. The Company's strategy is to develop a material (+1 million ounce) mineral resource base to support a stand-alone mining operation at the Miller Gold Property.
The Miller Gold Property shares several important geological similarities with Kirkland Lake District gold deposits, including a similar style and age of gold-telluride mineralization, similar aged rocks and interconnected First Order controlling structures (Catharine Fault at Miller) off the Kirkland / Cadillac Larder Breaks. The premise is that gold-telluride mineralization at the Miller Gold Property is tapping the same magmatic gold source as the Kirkland gold deposits, which have produced over 25 million ounces of gold from 7 mines over the past 100 years.
Since going public by IPO in late 2020, Northstar has spent >$4 million in exploration at Miller, resulting in the discovery of a series of broad, shallow dipping sheeted quartz-gold-telluride vein structures in the Allied Syenite (Allied Syenite Gold Zone) and Planet Syenite, with numerous 70 - 770 gram/metre drill hole intercepts.
During the period of August 7th - November 4th, 2021, Northstar completed an enhanced surface stripping, mapping and sampling program targeting near-surface gold mineralization over the Allied Syenite, No. 1 Vein and other areas on the Miller and recently acquired adjoining Searles Patent. In November, 2021 the Company announced the completion of a 14-hole, 2,495 metre Phase IIB diamond drill program at Miller targeting expansions of the Allied Gold Zone, twinning a number of historic No. 1 Vein drill holes on the Searles Patent and drill testing the newly discovered Area E mineralized zone 450 metres west of the Allied Syenite.
The Allied Syenite Gold Zone has now been defined by drilling and surface sampling to encompass an area measuring >350 metres X 200 metres and remains open along strike to the northwest and southeast. Drilling to date at the Allied Syenite Gold Zone has intersected 6.6 g/t Au over 117.0 metres, 4.0 g/t Au over 50.6 metres, 1.4 g/t Au over 118.5 metres, and 1.2 g/t Au over 107.3 metres. Drilling to date has also yielded long intercepts (50 metres to 150 metres) of near surface, lower grade (0.5 to 1.5 g/t) gold mineralization at two additional and nearby Syenite intrusions, with a 100-metre wide stockwork zone in the Meilleur Syenite yielding 2.13 g/t Au over 13.05 metres and a 147.2 metre intersection averaging 0.60 g/t Au at the Planet Syenite.
As a precursor to a Mineral Resource Estimate and for reporting purposes, the Company has commissioned Ronacher McKenzie Geoscience Inc. and SRK Consulting (Canada) to utilize Miller drill hole results to date and develop an Allied Syenite Gold Zone Exploration Target model. This will provide the Company and investors a range of conceptual tonnage and gold grades at the Allied Syenite Gold Zone and provide basis for continued expansion drilling and mineral resource development. Results of this work are expected in early June, 2022.
Northstar has 3 additional 100%-owned exploration projects in northern Ontario, including the recently acquired 1,200 ha Rosegrove Property situated 0.5 km from the Miller Gold Property, the 4,650 ha Bryce Gold Property (includes the recently optioned Britcanna Lease), an intrusive-gold / PME VMS project located along the projected east extension of the Ridout Break, and the recently expanded Temagami-Milestone Cu-Ni-Co Property located in Strathcona Township. Northstar recently filed a NI43-101 Technical Report on the Bryce Gold Property and is advancing all 3 properties to enhance geological understanding and optimize monetization opportunities.
On behalf of the Board of Directors,
Mr. Brian P. Fowler, P.Geo.
President, CEO and Director
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Northstar Goldcorp. which may cause actual results, performance or achievements of Northstar Gold Corp to be materially different from the results, performance or expectation implied by these forward-looking statements. By their nature, forward-looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com