Vancouver, British Columbia--(Newsfile Corp. - February 24, 2025) - Northstar Gold Corp. (CSE: NSG) ("Northstar" or the "Company"), is pleased to announce partial results of a 7 hole, 1,465 metre diamond drill program at the Company's 100%-owned Miller Copper-Gold Property, situated 18 kilometres southeast of Kirkland Lake, Ontario. Wiijiiwaagan Drilling Limited Partnership, a partnership between Boart Longyear and Matachewan First Nation, conducted the program between November 23rd and December 12th, 2024.
Northstar's 2024 diamond drill program targeted near-surface copper-gold-silver volcanogenic massive sulphide (VMS) mineralization and associated EM, IP and magnetic geophysical anomalies over a 1,000 metre southeast strike extension of the historic, direct-shipping high-grade Cam Copper Mine VMS horizon (Please see Northstar News Release Dated May 16, 2024).
New +500 Metre Stratiform Gold-Sulphide Horizon Discovery
Northstar drill holes CC-05-24, CC-06-24 and CC-11-24 targeted shallow, volcanogenic sulphide mineralization along a 500-metre-long EM conductor, 500 metres southeast of Cam Copper Mine (See Figure 1). The Company is pleased to announce that all 3 holes intersected a stratiform, semi-massive to stringer pyrrhotite dominated sulphide horizon with anomalous gold and zinc concentrations over a +500-metre conductive strike length.
Semi-massive, gold-bearing sulphides were encountered over multiple intervals in the footwall of a large gabbro sill in DDH CC-06-24 (See Table 1 and Figure 1). Assay results averaged 0.84 g/t Au over 2.08mfrom 151.17m to 153.25m, including 1.28 g/t Au over 1.10m from 151.5m to 152.6m. A similar intercept in DDH CC-05-24, collared 70 metres northwest of DDH CC-06-24, averaged 0.80 g/t Au over 0.29m from 142.15m to 142.44m, all within an 11.63m interval (131.62m to 143.25m) of anomalous zinc concentrations, indicating exploration potential for thicker gold and zinc intercepts in a follow-up drill program.
DDH CC-11-24, collared 355 metres northwest of DDH CC-06-24 in a pervasively chlorite and sericite altered gabbro sill, intersected the same gold bearing horizon over 0.52m between 106.19m and 106.71m, averaging 0.40 g/t Au and 2160 ppm Zn. Two surface grab samples (E455509 and E455510), previously collected in the vicinity of DDH CC-11-24 returned gold and zinc values of 2.01 g/t Au, 2070 ppm Zn and 1.74 g/t Au, 1805 ppm Zn within the same prospective horizon.
The gold-bearing stratiform horizon appears to gently plunge to the northwest and the associated hanging wall gabbro sill appears to expand in a similar direction towards an untested co-incidental magnetic and historic I.P. anomaly, 250 metres northwest of DDH CC-11-24. The gabbro sill can be traced over a minimum 900 metre strike length and ranges up to 100 metres in thickness. Thicker zones of stratiform gold-sulphide mineralization will be targeted by surface prospecting, 3D I.P. surveying, borehole I.P. surveying and MMI Soil Geochem sampling in 2025. Given the stratiform gold-sulphide horizon's pronounced, open strike extent and depth continuity, Northstar believes additional exploration has excellent potential to discover a significant gold and base metal deposit at depth.
Management Comments
"Northstar is very pleased to intersect gold-bearing, volcanogenic sulphide mineralization over such a pronounced strike length at the Miller Copper-Gold Property", states George Pollock, Vice President Exploration for Northstar. "The Upper portion of the Pacaud Assemblage has been largely neglected by past explorers, possibly because they did not recognize the volcanogenic nature of the massive sulphide horizons (let alone the gold potential) within the Boston Creek Mining Camp, and the importance of the large gabbro sills as heat drivers and possible metal sources for such deposits."
"One of the best economic examples of this type of gold-rich VMS deposit(s) within the Abitibi Greenstone Belt is the nearby world-class LaRonde Mine Complex, which is being mined for both gold and zinc in 1 to 15 metre thick stratiform VMS lenses hosting massive to semi-massive pyrite-pyrrhotite-sphalerite-chalcopyrite-galena mineralization. LaRonde achieved commercial production in 1988 and in June 2016 LaRonde's operations reached a depth of 3,008 metres, making it the deepest mine in the Americas. Total production as of 2022 has exceeded 7M ounces of gold (see AGNICO-EAGLE OPERATIONS- LARONDE MINE COMPLEX)."
"While Northstar's drill results may not be economic as stand-alone intersections, they support the premise that significant deposits of stratiform gold-base metals may exist on the Property. Follow-up exploration along this newly discovered gold horizon will be prioritized and include surface prospecting, 3D I.P., possible borehole I.P. surveying and MMI Soil Geochem sampling in 2025 to identify thicker sections for drill testing."
New Copper Zone Discovered 500 Metres Southeast of Cam Copper Mine
Northstar previously reported drill hole CC-07-24 discovered near surface, sub-seafloor replacement-style chalcopyrite mineralization in multiple horizons over a core length of 15.76 metres (47.24m to 63m), 500 metres southeast of Cam Copper Mine Zone 2 (See Northstar News Release dated January 9th, 2025). This intercept, stratigraphically deeper than the newly discovered stratiform gold horizon, contains two copper zones that grade 0.48% Cu over 2.06m from 47.24m to 49.3m, including 0.98% Cu over 0.47 m from 47.24m to 47.71 m, 1.38% Cu over 0.3m from 49.0m to 49.3m, and 0.93% Cu over 0.91m from 62.09m to 63.0m - (see Figure 1 and Table 1). Laminated chalcopyrite mineralization is observed to be associated with multiple gabbroic horizons within a sequence of mafic to intermediate bedded tuffs.
The CC-07-24 copper intercept occurs 45 metres below and 20 metres along strike from a recently sampled, historic 3 metre-wide surface trench with massive chalcopyrite and bornite mineralization that returned assays up to 17.9% copper and 16.2 g/t silver (see Northstar News Release dated July 18, 2024). Follow-up 3D I.P. surveying and MMI Soil Geochem coverage is planned for the largely unexplored 500 metre distance between the new discovery and the historic Cam Copper Mine area to identify areas for follow-up drilling.
Figure 1. Cam Copper VMS Belt 2024 Drill Plan and Assay Results
Samples collected in the 2024 Miller drill programs were delivered to ALS Global in Timmins, Ontario for preparation and assayed for gold and other elements by ALS Global in Vancouver, British Columbia.
Northstar has implemented a quality control program for its Cam Copper Project to ensure best practice in the sampling and analysis of surface samples, which includes the insertion of blanks, and certified standards into the sample stream.
Surface samples were submitted to ALS Global at their Timmins, Ontario facility for sample preparation where the entire sample was crushed to better than 75% passing 2mm, 250g riffle split and pulverized to 85% passing 75 microns. Pulps are forwarded to ALS Global in Vancouver, British Columbia for analyses. Gold analyses is obtained via industry standard fire assay with ICP-AES finish using 30 g aliquots. For samples returning greater than 10 g/t gold follow-up fire assay analysis with a gravimetric finish is completed. Based on initial fire assay gold indications as well as visual indication of mineralization and alteration, samples are selected for re-assay by the screen metallic fire assay method. Samples are also analyzed for 48 trace and major elements by ICP-MS following a four-acid digestion. For samples returning greater than 10,000 ppm Cu, follow-up four acid digestion and ICP finish utilizing a 0.4 g sample is utilized. ALS Global are ISO/IEC 17025:2017 accredited (Lab No. 579) for the preparation and analyses performed on the Cam Copper samples.
Qualified Person
Elizabeth Vida, P.Geo., is a Qualified Person as defined by National Instrument 43-101. Ms. Vida has reviewed the technical information in this news release and approves the written disclosure contained herein.
About Northstar
Northstar's primary exploration focus is to advance and expand the near-surface, Allied Gold Zone bulk- tonnage gold-telluride deposit and more recently discovered VMS copper mineral deposits on the Company's flagship, 100%-owned Miller Copper-Gold Property. The Company's strategy is to develop a material (+1M ounce gold / high-grade copper) mineral resource base to supplement a nearby mining operation or support stand-alone mining operations at the Property.
Recently Signed Gold and Copper MOUs
Northstar recently signed two MOUs to advance the Company's Miller Intrusive Complex gold and Cam Copper Zone 2 VMS copper exploration and development projects, respectively, at the Miller Copper-Gold Property. On September 19th, 2024, Northstar announced signing a MOU with China-based Hunan Nonferrous with intentions to possibly secure a minority stake in the Miller Intrusive Complex gold deposits by funding up to 10,000 meters of expansion diamond drilling. Due to unforeseen visitor visa complications, Hunan technical representatives are now positioning to obtain Canadian visitor visas for an early spring, 2025 due diligence property visit. This visit is a requirement to establish a Cooperative Agreement providing for collaborative exploration and development of the Miller Intrusive Complex gold targets (Please see Northstar-Hunan MOU News Release dated September 19, 2024).
On October 3rd, 2024, Northstar announced it had signed a MOU with Novamera Inc., setting terms for Novamera to secure the necessary financing to Surgically MineTM high-grade copper at Cam Copper Mine, subject to the definition and permitting of an economic deposit. This includes a multi-staged program (the "Surgical MiningTM Program") to test and extract material from the copper-rich, near vertical Zone 2 VMS horizon. (Please see Northstar-Novamera MOU News Release dated October 3, 2024). In late 2024, Northstar commissioned Chris Keech of CGK Consulting Services Inc., to develop a geological block model to provide the basis for Novamera's Stage 1 mining estimation Scoping Study. The results of this study are expected next month.
Other Properties
Northstar has 3 additional 100%-owned exploration projects in northern Ontario, including the 1,150 ha Rosegrove Property, situated 0.5 km from the Miller 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 Temagami-Milestone Cu-Ni-Co Critical Minerals Property located in Strathcona Township. Northstar is seeking exploration partners to advance all 3 properties.
All statements, other than statements of historical fact, contained in this news release constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as "forward-looking statements"). Forward-looking statements include, but are not limited to, disclosure regarding the completion of the Offering and potential gross proceeds to be raised pursuant thereto, the receipt of all applicable regulatory approvals, the prospective nature of the Company's property interests, exploration plans and expected results, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; planned use of proceeds, expenditures and budgets and the execution thereof. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes", or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, "may", "could", "would", "will", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the receipt of applicable regulatory approvals. availability of financing, the assumed long-term price of gold, that the current exploration and other objectives concerning its mineral projects can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; the continuity of the price of gold and other metals, economic and political conditions and operations; the prospective nature of the Company's properties, availability of financing, and that general business and economic conditions will not change in a materially adverse manner.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of NSG to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks and uncertainties related to the completion of the Offering as presently proposed or at all, the failure to obtain all applicable regulatory approvals; actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although NSG has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
Forward-looking statements in this news release are made as of the date hereof and NSG assume no obligation to update any forward-looking statements, except as required by applicable laws.
