NST 0.42% $14.29 northern star resources ltd

more gold found

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    New drilling results uncover a high grade zone in the
    offset limb of the Voyager 1 lode which is not in the
    current 65koz Stage One mine plan
     Significant results include (all true width):
    1.4 m @ 64.0 g/t gold (740mRL)
    1.5 m @ 42.9 g/t gold (728mRL)
    1.6 m @ 34.4 g/t gold (740mRL)
    8.0 m @ 3.6 g/t gold (705mRL)
     New ore position highlights the significant potential to
    find more gold in other areas of the mine that have been
    subject to little or no exploration and evaluation from
    previous owner?s
     Potential to increase the 65koz Stage One (royalty-free);
    Evaluation underway
    Northern Star Resources Ltd (ASX: NST) is pleased to advise that it has
    discovered high-grade gold mineralisation within the offset limb of the
    Voyager One lode. This mineralisation is outside the existing 65,000-
    ounce Stage One mine plan at the Paulsens Gold Mine in Western
    Australia.
    As well as adding to future production and mine life, the results are
    considered extremely important because they highlight the significant
    potential to find additional gold in the many areas at Paulsens which
    have been exposed to little or no exploration and evaluation.
    The new high grade zone is just offset from the Voyager One lode being
    mined, meaning it can be included in the current mine plan easily and
    quickly (refer to Figure 1). Full results are attached in the accompanying
    table.
    In light of this successful discovery, Northern Star will continue to drill
    beyond the previous long-standing focus of the very high grade upper
    zone hinge component of Paulsens mineralisation.
    ASX ANNOUNCEMENT 22 DECEMBER 2010
    Level 1, 24 Mumford Place, Balcatta WA 6021 Tel: +6 8 6241 1866 Fax: +6 8 6241 1811
    Email: [email protected] Website: www.nsrltd.com
    Northern Star believes this additional mineralisation has the potential to increase the Stage One
    65,000-ounce mine plan. Evaluation, including design and economic analysis, are well
    underway.
    Northern Star Managing Director Bill Beament said the results continued to highlight the
    exploration potential at Paulsens, not just at depth, but within the immediate surrounds and, more
    importantly, in the upper levels where 400,000 ounces were mined from a 600,000 ounce
    resource.
    "Any additions to the Stage One mine plan will be royalty-free so significantly higher margins can
    be expected when this area is mined," Mr Beament said.
    Figure
 
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