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Northern Star Resources hits high-grade gold at Pegasus

Northern Star Resources hits high-grade gold at Pegasus

Northern Star Resources (ASX: NST) has made a spectacular intercept of 9 metres at 37.8g/t gold at its Pegasus deposit in Western Australia.

Another highlight intersection was 5.3 metres at 26.3g/t gold, and mineralisation remains open at depth and along strike.

The Pegasus deposit is part of the recently acquired Kundana Gold Mine, and has returned a consistent string of high-grade results from outside the existing 355,000 ounce resource, including some up to 500 metres away.

These latest results are expected to underpin a significant resource increase and maiden reserve for Pegasus next quarter.

An access decline is well underway, with first production anticipated in the March Quarter 2015.

In addition, drilling at the Rubicon-Hornet mine, which is also part of the Kundana operations, reveals that economic mineralisation continues beneath current mining reserves.

Results here included 38.4 metres at 10.5g/t gold, 5.7 metres at 13.8g/t gold, and 2.5 metres at 97.7g/t gold.

 

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