Northern Star reports successful resources and reserves update
Northern Star Resources Limited (ASX:NST), a leading gold mining company, has announced its annual Mineral Resource and Ore Reserves update for the 12 months ending March 31, 2023.
The company reported a group Mineral Resource of 57.4 Moz and Ore Reserves of 20.2 Moz, highlighting the value generated by the company’s sustained exploration investment and offsetting mine depletion and divestments.
The Mineral Resource grew by 3.5Moz from exploration success across operating centres in Western Australia and Alaska, demonstrating significant organic growth optionality within Northern Star’s portfolio.
This growth includes a maiden Mineral Resource of 1.2Moz at Red Hill, located 3.5km from Kanowna Belle, a new discovery “Hercules” located less than 30km from KCGM’s Fimiston Plant, and exceptional results from the first drilling at “Star” discovery, only 1.3km south of Pogo.
Northern Star’s Ore Reserve remained stable at 20.2Moz, following mining depletion, with continued definition and growth at Thunderbox’s key growth regions, Bannockburn and Wonder.
The company divested non-core Paulsens and Western Tanami assets, resulting in a reduction of 754koz and 42koz, respectively.
Stuart Tonkin, managing director of Northern Star Resources, praised the company’s ability to regularly replace the volumes of gold mined, stating that
“Our team continues to excel at discovering new gold mineralisation near our existing operations, particularly in the Kalgoorlie district.
“The Hercules discovery is a good example of this type of new find that will provide us with additional growth options as we continue to unlock the potential of our assets by matching gold resources with processing capability.”
Northern Star’s annual Mineral Resource and Ore Reserves update was presented at the Macquarie Australia conference in Sydney, where the company emphasised the world-class mineral endowments of its three production centres, Kalgoorlie, Yandal, and Pogo.
These centres provide Northern Star with the confidence to plan organic and profitable growth of the company’s production footprint.
Northern Star Resources’ annual update highlights the company’s commitment to sustainable growth through continued exploration and investment, providing shareholders with confidence in the long-term profitability and success of the company.
, a leading gold mining company, has announced its annual Mineral Resource and Ore Reserves update for the 12 months ending March 31, 2023.){kind=link}