Northstar Commences EM Surveys Targeting Cam Copper VMS Extensions at Miller Copper-Gold Property

Rhea-AI Summary

Northstar Gold Corp. announces the commencement of borehole electromagnetic and surface electromagnetic surveys at the Cam Copper Mine area on their Miller Copper-Gold Property. Recent diamond drilling confirmed high-grade copper mineralization, with horizons grading up to 14.8% copper. The company aims to define VMS horizon extensions and conductors to enhance copper-rich drill target definition. New sulphide discoveries southeast of the mine show anomalous values in Au, Ag, Cu, Pb, and Zn, indicating potential extensions of VMS Zones 1 and 2.

Vancouver, British Columbia--(Newsfile Corp. - March 26, 2024) - Northstar Gold Corp. (CSE: NSG) (OTC Pink: NSGCF) ("Northstar" or the "Company") is pleased to announce a borehole electromagnetic (BHEM) and surface electromagnetic (EM) survey have commenced at the Cam Copper Mine area on the Company's 100%-owned Miller Copper-Gold Property, situated 18 kilometres southeast of Kirkland Lake, Ontario. Cam Copper is a road accessible shaft mine and small-scale, past producer of high-grade 'direct shipping' copper ore centred on the historic Boston Creek Copper Trend.^1,2 (Figure 1)

A recent 4-hole, Northstar diamond drill program at Cam Copper Mine confirmed a Volcanogenic Massive Sulphide (VMS) nature to the high-grade copper mineralization, with each hole intersecting massive chalcopyrite, high-grade copper horizons grading up to 14.8% copper over 2.5 metres (See Northstar News Release dated November 23, 2023). (Figure 2)

The Cam Copper Crone Pulse-EM surveys are being conducted by Mississauga, Ontario based Crone Geophysics and Exploration Ltd. A surface EM survey will define Cam Copper VMS horizon extensions and conductors over a 900-metre strike length towards the southeast, with a priority to identify areas with thicker accumulations of Cu-rich massive sulphides (Figure 3). A borehole BHEM survey will also be conducted on the 4 Cam Copper diamond drill holes completed in 2023. Similar Pulse-EM technology and surveys lead to several previous VMS discoveries across Canada, including Hudbay Minerals' 2003 Lalor VMS deposit discovery in Manitoba.

To further enhance copper-rich VMS drill target definition, Ronacher Mackenzie Geoscience (RMG) will compile and model historic geophysical survey data, including the digitization of historic near-surface VLEM conductors and strongly chargeable and conductive I.P. anomalies ⁽³⁾, 3D plate model airborne EM conductors ⁽⁴⁾ and complete 3D inversions of historic magnetic data ⁽⁵⁾.

(1) Ontario Ministry of Energy, Northern Development and Mines Mineral Deposit Inventory Record MDI31M13NW000154: Tretheway-Ossian- 1981, Ch.H. Cameron-1981.

(2) Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File #KL-0259, Tretheway-Ossian (Cam Copper Mine). 1961

(3) Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File #KL-0843, Prospectus of Fidelity Mining Investments Ltd. 1962

(4) Ontario Geological Survey 2000. Airborne Magnetic and Electromagnetic Surveys, Kirkland Lake Area; Ontario Geological Survey, Map 82 040, scale 1: 20 000

(5) Ontario Ministry of Energy, Northern Development and Mines and Mines Assessment File #20009478, Magnetometer Survey Assessment Report - Boston Creek Project., David Laronde, 2011

Figure 1. Rosegrove and Miller Copper-Gold Properties
Highlighting Cam Copper Mine and the Boston Creek Copper Trend

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Figure 2. Cam Copper Mine - 3D Model and 2023 Phase 1 Drill Results

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New Au-Cu-Pb-Zn Sulphide Discoveries Southeast of the Cam Copper Mine

In the late fall of 2023, Northstar conducted a limited prospecting and sampling program covering the southeast extension of the Cam Copper VMS/exhalite trend along the contact with the Round Lake Batholith (Figure 3). The program, while abbreviated due to snow cover, included the collection of 15 grab samples from older workings and gossanous areas. Several semi-massive to massive sulphide samples collected in proximity to magnetic anomalies, historic ground and airborne EM conductors and IP bedrock targets returned anomalous values in Au (0 - 2.02 g/t Au), Ag (0.15 - 26.9 g/t), Cu (41 ppm - 27,900 ppm), Pb (0.9 ppm - 3340 ppm) and Zn (12ppm - 2070 ppm). These samples could represent extensions of VMS Zones 1 and 2 up to 900 metres along strike to the southeast of the Cam Copper Mine site.

Northstar intends to follow up 2023 Cam Copper trend surface sample and 2024 EM survey targets in the spring of 2024, with prospecting, geological mapping, sampling and a Phase II diamond drill program.

Figure 3. Cam Copper VMS Trend Geology, Geophysical Targets and EM Survey Area

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Quality Control

Samples collected in the 2023 Miller surface exploration and drilling programs were delivered to ALS Global in Timmins, Ontario for preparation and assayed for gold and other elements by ALS Global in Vancouver, British Columbia.

Northstar has implemented a quality control program for its Cam Copper Project to ensure best practice in the sampling and analysis of surface samples, which includes the insertion of blanks, and certified standards into the sample stream.

Surface samples were submitted to ALS Global at their Timmins, Ontario facility for sample preparation where the entire sample was crushed to better than 90% passing 2mm, 1000g riffle split and pulverized to 85% passing 75 microns. Pulps are forwarded to ALS Global in Vancouver, British Columbia for analyses. Gold analyses is obtained via industry standard fire assay with ICP finish using 15 g to 30 g aliquots. For samples returning greater than 10 g/t gold follow-up fire assay analysis with a gravimetric finish is completed. Based on initial fire assay gold indications as well as visual indication of mineralization and alteration, samples are selected for re-assay by the screen metallic fire assay method. Samples are also analyzed for 48 trace and major elements by ICP-MS following a four-acid digestion. For samples returning greater than 10,000 ppm Cu, follow-up four acid digestion and ICP finish utilizing a 0.4 g sample is utilized. ALS Global are ISO/IEC 17025:2017 accredited (Lab No. 579) for the preparation and analyses performed on the Cam Copper samples.

Qualified Person

All scientific and technical information contained in this News Release has been prepared under the supervision of Brian P. Fowler, P.Geo. President, CEO and Director of Northstar Gold Corp., a Qualified Person within the meaning of National Instrument 43-101.

About Northstar Gold Corp.

Northstar's primary exploration focus is to advance and expand our near-surface, bulk-tonnage gold-telluride and more recently discovered VMS copper mineral deposits on the Company's flagship, 100%-owned Miller Copper-Gold Property, situated 18 km southeast of Kirkland Lake, Ontario. The Company's strategy is to develop a material (+1M ounce gold / high-grade copper) mineral resource base to either supplement a nearby mining operation or support a stand-alone mining operation at the Property.

Allied Gold Zone

Since going public by IPO in late 2020, Northstar has spent over $5.6 million in exploration at Miller, resulting in the discovery of a series of broad, near-surface, shallow dipping sheeted quartz-gold-telluride vein structures in the Allied Syenite (Allied Gold Zone) and Planet Syenites and numerous 70 - 750 gold gram/metre drill hole intercepts. Drilling to date at the AGZ has returned near-surface gold intercepts that include 6.6 g/t Au over 117.0 metres, 4.0 g/t Au over 50.6 metres, 1.4 g/t Au over 118.5 metres, and 1.2 g/t Au over 107.3 metres. Step out AGZ drilling in 2021 intersected peripheral steeply dipping copper-gold bearing structures (CG1 and CG2 Zones) returning intercepts that include 9.41 g/t Au, 1.03% Cu over 3.0m. The AGZ shares numerous compelling similarities to Agnico Eagle's nearby Upper Beaver Deposit, currently in the pre-development stage.

In April, 2022, as a precursor to a Mineral Resource Estimate and for reporting purposes, the Company commissioned Ronacher Mackenzie Geoscience and SRK Consulting (Canada) to conduct an Exploration Target Study of the Miller Property Allied Gold Zone and No. 1 Vein. An upper range exceeding 500,000 ounces of gold averaging 2.04 g/t Au has been referenced in this study. Reported results (Northstar News Release dated July 26, 2022) verify the significance, size and gold grade potential of the Allied gold mineralizing system. Results provide the Company and investors a fact-based conceptual tonnage and gold grade range for the Allied Syenite Gold Zone, and basis for continued expansion drilling and mineral resource development.

Cam Copper Mine

On November 23rd, 2023 Northstar announced results from a 720 metre, 4-hole diamond drill program completed on the historic high-grade Cam Copper Mine, located 2.5 kilometres southwest of the Allied Gold Zone and also on Northstar's 100%-owned Miller Property. The Company reported all drill holes intersected lenses of Cu-rich volcanogenic massive sulphides, including massive and stringer chalcopyrite in drill hole CC03-23 grading 14.8% Cu over 2.45m from 116.55m to 119m in Zone 2 (See Northstar News Release dated November 23, 2023). These results suggest Zone 2 is thickening in a southeast and down-plunge direction. Zones 1, 3 and 4 also remain open along strike and at depth.

Cam Copper is a road accessible shaft mine and small-scale, past producer of high-grade 'direct shipping' copper ore centred on the historic Boston Creek Copper Trend.

Cam Copper Mine is centred on a newly recognized high-grade "Besshi-type" volcanogenic massive sulphide (VMS) copper system situated at the northwest end of a 0.9 km long southeast trending belt of VMS horizons. Besshi-type VMS deposits are an important global source of base metals, simplistically characterized as vented, broad sheet-like layers of magnetite, iron-copper-lead-zinc-arsenic sulphides, cobalt, sulphosalts, silver and possibly gold deposited on an ancient sea floor, hosted in volcano-sedimentary rock packages.

Northstar has commenced down-hole and grid-scale EM geophysical surveys at Cam Copper Mine to define Phase II drill targets in Q2, 2024.

Northstar is seeking a senior partner to conduct Allied Gold Zone lateral and depth expansion diamond drilling on the Miller Property.

Northstar's 3 additional 100%-owned exploration projects in northern Ontario, include the recently acquired 1,150 ha Rosegrove Property situated 0.5 km from the Miller Property, the 4,650 ha Bryce Gold Property (includes the recently optioned Britcanna Lease), an intrusive-gold / PME VMS project located along the projected east extension of the Ridout Break, and the recently expanded Temagami-Milestone Cu-Ni-Co Critical Minerals Property located in Strathcona Township. Northstar is seeking exploration partners to advance all 3 properties.

On behalf of the Board of Directors,

Mr. Brian P. Fowler, P.Geo.

President, CEO and Director
(604) 617-8191
bfowler@northstargoldcorp.com

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Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain forward-looking statements which involve known and unknown risks, delays, and uncertainties not under the control of Northstar Gold Corp. which may cause actual results, performance or achievements of Northstar Gold Corp. to be materially different from the results, performance or expectation implied by these forward looking statements. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors.

Forward-looking statements in this news release are made as of the date hereof and the Company assumes no obligation to update any forward-looking statements, except as required by applicable laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203034

FAQ

What surveys have commenced at the Cam Copper Mine area on Northstar Gold Corp.'s Miller Copper-Gold Property?

Borehole electromagnetic (BHEM) and surface electromagnetic (EM) surveys have commenced at the Cam Copper Mine area.

What did the recent 4-hole diamond drill program confirm at Cam Copper Mine?

The recent diamond drill program confirmed a Volcanogenic Massive Sulphide (VMS) nature to the high-grade copper mineralization.

What are the key findings of the prospecting and sampling program conducted by Northstar in late fall of 2023?

The program found several semi-massive to massive sulphide samples with anomalous values in Au, Ag, Cu, Pb, and Zn, indicating potential extensions of VMS Zones 1 and 2.

Who is conducting the Cam Copper Crone Pulse-EM surveys?

The Cam Copper Crone Pulse-EM surveys are being conducted by Crone Geophysics and Exploration

Who is compiling and modeling historic geophysical survey data to enhance copper-rich VMS drill target definition?

Ronacher Mackenzie Geoscience (RMG) is compiling and modeling historic geophysical survey data.