High-grade hits at Jundee
AUSTRALIA’S third-largest gold producer Northern Star Resources will boost its exploration program after making multiple discoveries at and around its Jundee gold mine in WA.
As a result of the drilling success, Northern Star increased its FY18 exploration budget by $10 million to $45 million.
It plans to accelerate a number of drilling programs to bring the recent discoveries into the Reserve category.
The discoveries included high-grade finds at the Zodiac discovery and the Armada trend, 400m and 800m from the Jundee mine, respectively.
Northern Star executive chairman Bill Beament said the results would change the way the 10 million ounce (moz) Jundee gold field was viewed.
“With production of 7moz over the past 22 years, Jundee has been an exceptional mine by any measure,” Mr Beament said.
“But these results show the Jundee gold field is now emerging as one of the greatest gold fields in Australia.
“The Zodiac discovery is a game-changer of enormous proportions.
“The 765gpt intersection from the seismic reflector at Zodiac is nothing short of spectacular, particularly when the huge potential along strike is considered, and we are yet to intersect the second reflector.”
Mr Beament said the 2.5km long Armada trend also continued to grow.
“We are now very confident that we will grow Jundee’s 1.4moz Reserve base significantly, adding years to its mine life,” he said.
“The 765g/t intersection from the seismic reflector at Zodiac is nothing short of spectacular, particularly when the huge potential along strike is considered.”
Northern Star has increased its exploration spend at Jundee mine by $10 million.