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Northern Star Resources hits 231g/t gold at Paulsens

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Northern Star Resources (ASX: NST) has delivered some bonanza grade gold hits up to 231g/t from the Voyager 2 lode at the Paulsens Gold Mine in Western Australia.

The latest highlights include: 4.5 metres at 20.0g/t gold (true width 4.0m) 334mRL UZ, including 0.24 metres at 231 g/t gold; and 0.7 metres at 117.0g/t gold (true width 0.6m) 340mRL UZ.

The importance of the results is that they extend the Voyager 2 lode a further 200 metres down plunge from Paulsens’ current 555,000 ounce resource model.

The Voyager 2 lode, which runs parallel and immediately adjacent to the producing Voyager 1 lode, will be mined simultaneously, reducing capital development costs and extending mine life significantly.

First development ore from Voyager 2 expected in the September quarter 2013.

A resource upgrade for the mine is expected to be released before September 2013, and wil include the in-fill and resource definition drilling undertaken in the Voyager 2 lode since the March 2013 resource upgrade.

Northern Star held cash, bullion and investments of $66.5 million at the end of March 2013.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: NORTHERN STAR RESOURCES LTD

Price: 9.315 AUD

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Market Cap: $6.04 billion
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