Northern Star’s Jundee operation set for additional 10-year mine life
February 23rd, 2018
Northern Star has posted its half-year results, and while profits were down slightly the feeling is positive overall due in part to exciting exploration results.
Operating cash flow was up 14 percent from the previous half-year period, for example, with the company posting revenues of $435.3 million. Overall half-year profits were down seven per cent on the previous period at $79.1 million.
Northern Star was particularly enthusiastic regarding its recent exploration results from the Jundee goldfield in Wiluna Shire, Western Australia, which could prospectively see another decade of operational life.
New discoveries have shown extremely high grades of up to 765 grams per tonne (g/t) of gold for 0.5 metres at Jundee’s Zodiac discovery. The neighbouring Armada trend has also been shown to be highly prospective, with 0.4 metres at 305g/t, 0.3m at 295g/t and one metre at 88.1g/t.
Northern Star is currently embarking on deep drilling to expand on the project’s current reserves of 1.4 million ounces (Moz) — or 10Moz endowed — increasing Jundee’s budget in the 2018 financial year from $10 million to $45 million overall. Read more…