The province of Ontario is Canada’s leading producer of gold, and companies like Northstar Gold Corp. (CSE:NSG, OTC Pink:NSGCF, FSE:3WV,Forum), a company focused on the exploration, development and acquisition of quality exploration properties, are in the saddle looking to join the ranks.
Case in point, the company’s flagship property is its 100% owned Miller Gold Property, located 18 kilometres southeast of Kirkland Lake, Ontario and also Agnico Eagle Mines’ Macassa SMC gold mine.
The Miller Gold Property is highly prospective for the discovery of higher-grade gold systems that are comparable to the Kirkland Lake camp deposits that have historically produced over 47 million ounces of gold
Northstar Gold continues advancing its project and recently announced some key results from the Miller Gold Property that investors might want to know about.
Northstar Gold releases airborne magnetic survey results
In a news release dated April 19, 2023, Northstar announced a recently completed airborne magnetic survey on the Miller Property identified a volumetrically large positive magnetic anomaly (SM-01).
The SM-01 anomaly, measuring >1 km deep, 1 km long and 400 metres wide indicates a deep body with a high magnetic susceptibility signature that possibly represents a large mafic intrusion and source area for recent shallower copper-gold drill hole intersections on the Miller Property.
There have also been 11 other anomalies consistent with potential gold-bearing syenite intrusions that have been defined by the magnetic survey.
The primary objective of the magnetic survey was to define copper-gold geological and structural controlling features of gold and copper mineralization at depth on the Miller Gold Property. Targeting analysis was performed by using an automatic (unsupervised) predictive method called the Centre for Exploration Targeting (CET) grid analysis.
“The Miller UAV magnetic survey results are a potential game changer that indirectly supports the premise the Allied Gold Zone is the late-stage, shallow-dipping carapace of an earlier deep-seated, multi-phase gold-copper mafic intrusion-related system, similar in style to Agnico Eagle’s advanced Upper Beaver Project situated 18 km north of the Miller Gold Property,” Brian P. Fowler, CEO of Northstar, said in a release.
Fowler further explained that copper deposits like Agnico Eagle’s nearby advanced development Upper Beaver project have demonstrable vertical copper-gold mineralization and grade continuity that can support open pit and underground exploitation.
Northstar is procuring proposals to further refine deeper Miller Property gold-copper drill targets. This will be accomplished by updating and analyzing 3D property and bore hole IP inversions in concert with the new 3D magnetics interpretation, constrained by detailed drill hole information. Northstar expects to expand the Allied Gold Zone and confirm new geophysical insights for deeper gold-copper mineralization through diamond drilling this coming summer.
Additional company updates
In January 2023, the company made precious and base metal discoveries at its Milestone Property which sits 3 kilometres southwest of Temagami, Ontario.
In a press release, the company said that significant copper-nickel-cobalt and anomalous precious metal assays were returned from a range of surface samples that contained sulphides collected over 1,000 metre distance.
“Program results have identified a number of near-surface, precious metal-enriched Cu-Ni-Co exploration targets that warrant follow-up exploration,” Fowler said.
In total, 72 surface samples were taken over a 1.5 kilometre strike length and included 29 samples with massive pyrite +/- pyrrhotite, chalcopyrite, and magnetite mineralization collected both in-situ from historic workings or surface gossan and from historic muck piles
Moving forward with the project, the company plans to pursue a critical minerals designation.
The investment corner
The gold market is always ripe with opportunities, and there’s never a shortage of discussion when it comes to companies making moves in the space that set them up for future success.
As it currently stands, shares of Northstar Gold are priced at C$0.55 with a market capitalization of $4.11. Although Northstar Gold is priced fairly low, the company continues to make headway with its deliverables, showcasing its longevity and upside across all of its properties.
The Information contained here is a paid advertisement and is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Prior to making any investment decision, it is recommended that readers consult directly with the public company and seek advice from a qualified investment advisor. The corporate information included in this was provided by Northstar Gold in order to help investors learn more about their company. The information provided is purely and solely the responsibility of Northstar Gold who has reviewed and approved all material for accuracy. Stockhouse does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. Investing in securities is speculative and carries risk. Persons who wish to buy or sell securities should only do so at their own risk and in consultation with their registered securities advisers. Stockhouse does not own stock in Northstar Gold.