EXPLORATION & DEVELOPMENT

Northern Star extends discovery

Paradigm mineralisation extends over 1000m of strke

Kristie Batten

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New results from the 100%-owned target included 3.2m at 207 grams per tonne gold from 189m; 5.2m at 156gpt from 92m; 10m at 54.3gpt; 15m at 15.2gpt from 72m; 14m at 14.8gpt from 98m; and 3m at 17.8gpt from 24m.

The latest results have extended Paradigm to 1km long, with mineralisation remaining open in all directions.

The company said the results highlighted the potential for an underground development, as well as an open pit, with analysis of historical results showing high-grade mineralisation up to 350m below current workings.

A maiden resource will be prepared, and preliminary metallurgical analysis has indicated that the ore is free-milling.

At the adjacent Carbine pit, drilling beneath the existing pit has identified further sub-parallel structural trends with associated geochemical anomalism over a 1km-long corridor, but assays are pending.

Northern Star has acquired an additional 61.5sq.km in the area, and recently did a deal with Pioneer Resources over the Acra project.

The exploration and acquisitions are part of Northern Star’s strategy to grow production to 600,000 ounces per annum from 2018.

Shares in the company were down by 6.7% to $A3.87 after the gold price slumped.

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