Northstar Gold closes of first tranche of financing and key grant from Ontario Government
December 20, 2023 at 01:57 pm EST
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Northstar Gold Corp's CEO, Brian Fowler joined Steve Darling from Proactive to provide an update on the company's recent financing and exploration activities. The company has successfully closed the first tranche of its non-brokered private placement, raising nearly $400,000 in funds. These funds will be allocated to support exploration efforts on several of Northstar's properties, with a specific focus on the historic high-grade Cam Copper Mine, located within the 100%-owned Miller Gold Property.
Fowler explained that the company plans to conduct a down-hole EM geophysical survey from the 2023 Cam drill holes in early 2024. Geophysical anomalies identified through this survey will be drill-tested as part of a Phase II Cam Copper diamond drill program scheduled for late February/early March 2024.
In addition to this financing success, Fowler shared that Northstar Gold Corp has received an exploration grant from the Ontario Ministry, amounting to up to $80,532.50. This grant covers 50% of the company's critical minerals exploration expenditures at the Rosegrove Property, situated just south of Kirkland Lake, Ontario. The Rosegrove Property is highly prospective for shear and alkaline intrusion-related copper-gold deposits.
Northstar is eagerly anticipating the results of recently completed LiDAR and Mobile Metal Ion soil surveys at this property in early 2024.
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Proactive Canada
+1 604-688-8158
na-editorial@proactiveinvestors.com
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Northstar Gold Corp is a Canada-based company, which is focused on the exploration, development, and acquisition of exploration properties in the prolific Abitibi Greenstone Belt. The Company's projects include Miller Gold project, Searles Property, Bryce Project, Temagami-Milestone, Rosegrove and Britcanna project. The 1100 hectare Miller Gold project is located approximately 18 kilometers (km) south of Kirkland Lake Goldâs Macassa Mine Complex. The 64-hectare Searles Property is located approximately 18 km southeast of Kirkland Lake. The 4,650-hectare Bryce project is situated on the western extension of the Ridout Break, 65 km east of the Juby Gold Project and 35 kilometers south of the Company's Miller Gold Property. The Temagami-Milestone project is located in Strathcona Township in Northeastern Ontario. The 1,200-hectare Rosegrove Property is situated 0.5 km from the Miller Gold Property. The Britcanna project is situated in south Kirkland Lake, Ontario.