Northstar Gold Corp Secures Funding and Identifies Promising Drill Targets
TL;DR
Investors gain advantage from Northstar Gold Corp.'s successful funding and promising drill targets, positioning the company for potential high returns.
Northstar Gold Corp. will utilize gross proceeds to fund Critical Minerals exploration and conduct diamond drilling on a newly defined EM conductor.
Northstar Gold Corp.'s exploration efforts may lead to the discovery of valuable minerals, benefiting local economies and advancing the understanding of mineral resources.
Recent prospecting and sampling efforts by Northstar Gold Corp. have revealed VMS-style copper and silver values, indicating exciting potential for future mineral discoveries.
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Northstar Gold Corp. (CSE:NSG) has successfully closed the first tranche of its previously announced non-brokered private placement, generating aggregate gross proceeds of $254,820.03. Additionally, the company has received further orders and anticipates closing a second tranche in the near future, according to CEO Brian Fowler.
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.
Curated from News Direct
