Northern Star Resources Ltd. recently published an updated mineral resource and ore reserve for the 12 months ending March 31. The company’s exploration campaign has grown its mineral resource by 4.3 million ounce (oz) of gold, which more than offsets mine depletion and divestments. Northern Star said it reinforces its strategy to identify growth opportunities within strongly endowed geological terrains.
“Our ongoing exploration success highlights the significant opportunity that exists within our Tier-1 asset portfolio to grow the gold resource base, particularly through the extension of known mineralization at depth at KCGM,” Northern Star Managing Director Stuart Tonkin said. “We continue to focus our exploration efforts on extending mine lives and developing our three production centers.”
Kalgoorlie Consolidated Gold Mines (KCGM) is the home of the Super Pit. The Fimiston Underground mineral resource at KCGM increased by 20% to 5 million oz (up from 4 million oz last year) as a result of initial drilling from the first dedicated drill drive. The company also reported a new discovery at its Yandal operations, which they have identified as “Golden Wonder” near its Wonder North project.
Ore reserves at the Pogo mine in Alaska increased by 20% to 1.8 million oz at an increased grade of 8.5 grams/mt, driven by in-mine drilling and optimized mine design parameters in the high-grade Liese lodes.
“Despite a challenging year for drilling and assaying capability, Pogo achieved a 20% increase in ore reserves at a higher grade and declared a maiden mineral resource at Goodpaster reinforcing the enormous growth potential of Pogo,” Tonkin said.
Exploration drilling at Goodpaster defined a maiden inferred mineral resource of 3.2 million mt grading 10.3 g/mt for 1.1 million oz.
Northern Star’s mineral resource is currently estimated at 865 million mt grading 2 g/mt of gold for 56.4 million oz. The company’s ore reserves are estimated at 388 million mt grading 1.7 g/mt of gold for 20.7 million oz.