Northstar Gold advances exploration with successful funding and promising drill targets
18.07.2024 | NewsDirect
Northstar Gold Corp. (CSE:NSG) CEO Brian Fowler joined Steve Darling from Proactive to announce that the company has successfully closed the first tranche of its previously announced non-brokered private placement generating aggregate gross proceeds of $254,820.03. Additionally, Northstar has received further orders and anticipates closing a second tranche in the near future.Fowler detailed that the gross proceeds will be predominantly utilized to fund Critical Minerals exploration and conduct diamond drilling on a newly defined, 350-meter-long, 200 Siemens near-surface EM conductor. This conductor is located 600 to 900 meters southeast and along the strike from the historic, high-grade Cam Copper Mine on Northstar's Miller Copper-Gold Property.
Moreover, the company has made significant strides in its prospecting and sampling efforts. Recent activities southeast and along the newly defined Zone 2 Extension EM Conductor have yielded VMS-style copper and silver values ranging from 12.5% to 17.9% Cu and 10.3 g/t to 17 g/t Ag, respectively. These results were obtained from a historic, 20-meter-long trench and muck pile situated 450 meters southeast of Northstar's Cam Copper Mine and in proximity to recent high-grade copper drill hole intercepts.
These promising findings suggest a higher concentration of chalcopyrite and potential zone expansion at depth, indicating proximity to possible VMS vent areas. Northstar is strategically positioning itself to drill test the Zone 2 Extension Conductor in Q3, 2024, aiming to capitalize on these encouraging exploration results and further advance its exploration initiatives.
Contact Details
Proactive Canada
+1 604-688-8158
na-editorial@proactiveinvestors.com
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