Vancouver, B.C., February 25, 2020. Northstar Gold Corp. (CSE: NSG) (“Northstar” or the “Company”), a newly listed resource company announces that diamond drilling has commenced at the Company’s 100%-owned Miller Gold Property, situated 18 km southeast of the town of Kirkland Lake and Kirkland Lake Gold’s Macassa gold mine.
The Company has engaged Major Drilling Group International Inc. to complete 3,000 m of drilling on the historic, early resource-stage Miller Gold Property, with an initial focus on confirming and expanding portions of the near surface Miller-Independence historic estimate of 270,000 ounces of gold averaging 11.5 g/t Au* to NI 43-101 Mineral Resource Estimate reporting standards and the Planet Syenite Exploration Target, consisting of approximately 100,000 to 500,000 additional ounces of gold in 3.0 – 5.0 million tonnes of mineralized material averaging between 1.0 – 3.0 g/t Au.** Drilling will also follow-up other known near-surface high-grade and intrusion-hosted gold targets including the Allied Syenite.
* Ontario Ministry of Northern Development and Mines Assessment report # OM87-6-L-239: AFRI file 32D04SW0265 "Mining and Geological Report on the 1987 Nortek Exploration Program" by Gordon B. French, President of French & Associates Inc., Highway 112, Tarzwell, Ontario.
A Qualified Person has not done sufficient work to classify these historical estimates as current mineral resources and the Company is not treating these historical estimates as current mineral resources. These historical estimates cannot be fully verified. These values cannot and should not be relied upon, are only referred to herein as an indication of previously defined gold mineralization. In order to verify these estimates and to upgrade to NI 43-101 compliant categories, the historical areas would need to be re-drilled with updated sampling procedures put in place.
** The potential quantity and grade of the Exploration Target is conceptual in nature and therefore is an approximation. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.
Miller Gold Property Phase I drilling, the largest component of a $1.1 million exploration program, is expected to be complete by mid April 2020. Initial drill results are expected to become available by the end of March. Phase I exploration will also entail geophysical surveys including 5 km2 of 3D IP, magnetics and gravity, expected to commence in May 2020, and a surface stripping, mapping, and sampling program in June. A $1.1 million, 4,000 m Phase II drill program, scheduled to commence in the summer of 2020 is contingent upon Phase I drill results.
Trevor Boyd, PhD, P.Geo., a ‘Qualified Person’ (Q.P.) as defined under Canadian National Instrument NI 43-101, has prepared and reviewed technical aspects of this news release.
About Northstar Gold Corp.
Prior to going public on the CSE on January 2, 2020 by way of a recently completed $3 million Initial Public Offering, Northstar operated for the past 11 years as a private company focused primarily on gold exploration in the prolific Kirkland Lake District in northeastern Ontario (>24.5 million ounces gold produced from 7 mines since 1915). During this time, the Company raised nearly $7 million to acquire and advance 3-100% owned gold and base-metal properties in the Kirkland Lake region. Northstar has an accomplished Board, Special Advisor and Management Group comprised of professionals highly experienced in exploration, mining, finance and investment banking on a global basis. Northstar has commenced a $1.1 million Phase I exploration program, which includes 3,000 m of drilling on its flagship, early-resource stage Miller Gold Property, situated 18 km southeast of the town of Kirkland Lake and Kirkland Lake Gold’s Macassa gold mine.
On behalf of the Board of Directors, For further information, please contact:
Mr. Brian P. Fowler, P.Geo. Derek Wood
President, CEO and Director Conduit IR
(604) 617-8191 (403) 200-3569
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.