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Northgold in brief
Northgold, founded in 2020, is a gold exploration and development company that holds exploration rights for a number of areas within the under-invested Middle Ostrobothnia Gold Belt (“MOGB”) of central
Northgold’s purpose is to move forward through the discovery and advancement of feasible gold mining projects. The Company’s strategy is to bring capital and knowledge into mineral exploration projects that:
- Have low risk due to significant prior investment and discovery.
- Demonstrate potential for high-value mineralization on a district scale.
- Have the opportunity to create added value through further exploration and technical studies.
Northgold focuses on exploration and development of gold deposits that create leverage for the growth of gold as a long-term investment instrument. The Company's business model is to create value by expanding mineral resources through exploration and increasing their probability of extraction through technical studies. Once sufficient mineral resources have been delineated and a positive feasibility study has been completed, the Company ultimately plans to develop its deposits into economically profitable mines.
The projects
Northgold currently has an existing informal gold resource of more than 725,000 ounces (Table 1):
- Kopsa hosts NI 43-101 compliant measured and indicated mineral resources of 13.6 million tonnes (Mt) at 0.81 part per million (ppm) gold and 0.15% copper for 354,200 ounces (oz) gold (Au) or 459,100 oz gold equivalent (AuEq) including copper credits, plus inferred mineral resources of 2.7 Mt at 1.1 ppm gold and 0.2% copper for 69,400 oz Au or 95,500 oz AuEq including copper credits.
- The Ängesneva deposit within the Kiimala Trend project hosts NI 43-101 compliant indicated mineral resources of 3.85 Mt at 1.19 ppm Au for 147,300 oz Au, and another Kiimala Trend prospect (Vesiperä) hosts a non-compliant historical, inferred mineral resource estimate of 0.29 Mt at 2.52 ppm Au for 23,500 oz Au. Copper mineralization was also detected at these Kiimala Trend deposits, but was excluded from these historic resource estimates.
Table 1: Summary of Company mineral resources
Company Mineral Resources[1]: | AuEq (oz) | Au (oz) | AuEq (g/t) | Au (g/t) | Cu (%) |
NI 43-101 compliant Measured and Indicated Resources | 606,400 | 501,500 | 1.08 | 0.89 | 0.12 |
NI 43-101 compliant Inferred Resources | 95,500 | 69,400 | 1.26 | 0.97 | 0.18 |
Historic / Non-compliant Resources | 23,500 | 23,500 | 2.52 | 2.52 | -- |
Total | 725,400 | 594,400 | 1.11 | 0.91 | 0.13 |
Figure 1: Map of the MOGB. The Company’s tenements are outlined in purple. For reference, the main gold resources of the region are indicated: Laivakangas (
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More information about the exploration sites can be found on the Company's website: www.northgoldab.com.
Taking advantage of investment opportunities in
The Company plans to conduct systematic exploration, including drilling, across its current projects with the goal of expanding the gold resources, discovering new deposits, and continuing the consolidation of the under-invested MOGB.
The gold belt is located within the Brahestad-Ladoga zone (an extension of the VMS trend and the Skellefteå gold line on the Swedish side) and the belt has historically received less than 10 per cent of exploration investments compared to the Swedish side. Furthermore,
The technical team behind Northgold is led by
The Offering
The motive of the Offering and the Listing is to conduct exploration activities with the goal of expanding mineral resources to over 1,000,000 oz AuEq of NI43-101 compliant resources within 18 months from the first day of trading, as well as to provide exposure to potential new discoveries at the Company’s earlier-stage prospects, based on encouraging geophysical and geochemical results.
The Offering is expected to consist of a new issue of shares corresponding to approximately
Advisers
For additional information, please contact the CEO:
“Mitch Vanderydt”
+1 (416) 524-5678
ir@northgoldab.com
About Northgold
Northgold is a Swedish gold exploration and development Company with multiple resource-stage projects in the Middle Ostrobothnia Gold Belt (MOGB) of
Important information
This announcement does not constitute an offer or solicitation to subscribe, buy or otherwise trade in shares or other securities issued by the Company. Any offer to subscribe for the securities included in this announcement will be submitted through a prospectus that will be provided by Northgold after approval and registration by the
In any EEA Member State other than
Neither this announcement nor the information contained herein may be published or distributed, directly or indirectly, in or to
In the
Forward-looking statements
This announcement may contain certain forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” “continue”, “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies, and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies, and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.
The information, estimates, and forward-looking statements contained in this announcement are valid only as of the date of this announcement and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm, or publish any adjustments regarding any forward-looking statements to reflect events that occur or circumstances that arise regarding the content of this notice.
[1] One licence at the Kiimala Trend project, currently containing 147,300 oz Au of the measured and indicated resources and the entirety of the 23,500 oz Au non-compliant resources, is subject to an ongoing public appeals process.
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