The Flow Through Units were priced at $0.31 and comprised of one flow through common share and one-half of one non-flow through share purchase warrant.
The gross proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses at the Company’s 100%-owned flag-ship Miller Gold Property and recently acquired Searles Property, situated 18km southeast of Kirkland Lake, Ontario, and the Company’s Bryce Gold Property, situated 35 km to the southwest.
During the period March 15th – April 27th, 2021, Northstar drilled 1,990 metres and 4 holes targeting geophysical and machine learning anomalies.
On May 27th, 2021 Northstar announced partial results from drill hole MG21-56 in the Allied Syenite Gold Zone that included 6.6 g/t Au over 117m between 14m and 131m encompassing the Veins 1 – 4 zones, including 175 g/t Au over 0.6m between 14m and 14.6m, 24.9 g/t Au over 1.5m between 43m and 44.5m, and 1,170 g/t Au over 0.5m between 69.5m and 70m depth in drill hole MG21-56 within the Allied Syenite.
This includes the vicinity of the Allied Syenite where visible gold and gold tellurides have been observed on surface and confirmed at depth by recently reported high-grade gold-telluride intercepts obtained in drill hole MG21-56 .
Northstar is positioning to resume drilling at the Miller Gold Property in late summer of 2021 with a planned 4,600 metre, Phase IIB drill program to expand the recently discovered Allied Syenite Gold Zone, test several 3D IP geophysical anomalies and expand and confirm the No.
The Company’s flagship property is the 100% owned Miller Gold Property, situated 18 km southeast of Kirkland Lake and Kirkland Lake Gold’s Macassa SMC gold mine.
Northstar spent $2 million in exploration at Miller in 2020, resulting in the expansion / discovery of four new high-grade vein structures and the near- surface bulk-tonnage Allied Gold Zone.
Northstar has 3 additional 100%-owned exploration projects in northern Ontario, including the recently acquired 1,200 ha Rosegrove Property situated 0.5 km from the Miller Gold Property, the 4,500 ha Bryce Property, 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 Property located in Strathcona Township.
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.