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Northstar signs additional Boston Creek Copper Property Letter of Intent

May 28, 2024

Northstar Gold Corp. has signed a Letter of Intent (LOI) with vendors of the 64-hectare Philip Property, situated adjacent and southeast of Northstar's Miller Copper-Gold Property along the historic Boston Creek Copper Trend (Figure 1). The Philip Property LOI enhances Northstar's Boston Creek Copper Trend consolidation strategy and supplements the previously signed Boston Creek Mines Property LOI reported by the Company on May 16th, 2024. Both Property LOI's include a 6-month exclusivity provision to provide for due diligence and negotiation of acquisition terms.

Northstar recently reported defining 3 surface EM survey conductors on the Miller Copper-Gold Property, believed to represent near-surface volcanogenic massive sulphides (VMS) horizons (Please see Northstar News Release dated May 16, 2024). These conductors extend southeast onto the Philip Property, with the central conductor extending as much as 350 metres across the property line. (Figure 2) The central, 350 metre long, 200 Siemens (S) "Zone 2 Extension Conductor" has been identified by multiple sources of data that include 1979 Input Airborne Electromagnetic (AEM)1 and Geotem III AEM surveys2. 

"The Philip Property LOI is key to Northstar's Boston Creek Copper Trend consolidation and exploration strategy to ground truth and drill test the Zone 2 Extension Conductor up to, and beyond the Philip Property boundary. Positive exploration and due diligence results would provide basis for the negotiation of acquisition terms.", states Brian P. Fowler, P.Geo., President, and CEO of Northstar. "The newly defined, near-surface, 350 metre long 200 Siemens Zone 2 Extension EM Conductor on the Miller Copper-Gold Property has signatures that potentially represent a large, near-surface VMS deposit. Northstar is positioning to drill test the Zone 2 Extension Conductor later this summer." 

Large 350m, 200 Siemens Near-Surface EM Conductor Defines Possible Southeast Strike Extension of Cam Copper Zone 2 (14.8% copper over 2.5 metres in DDH CC03-23)

Northstar previously reported that Crone Geophysics and Exploration Ltd. recently completed a 3-component, or 3-dimensional surface EM survey that defined a strong near surface conductor with a conductance of 200 Siemens (S), indicating possible massive sulphide mineralization along strike and similar in composition to Cam Copper Mine Zone 2 but with potentially greater thickness. This potential "Zone 2 Extension Conductor" has a minimum 350 metre strike length and 150 metre depth extent and strikes 319° Az and dips -82 degrees to the northeast (Figure 2). The Zone 2 Extension Conductor is coincidental with several magnetic anomalies located approximately 600 to 900 meters along strike to the southeast of the Cam Copper mine site (Figures 2 and 3) and could represent the southeast expansion of previously drilled Cam Copper VMS Zone 2 (14.8% copper over 2.5 metres in DDH CC03-23 - See Northstar News Release dated November 23, 2023).

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Figure 1. VMS Copper and Surface EM Targets on the Miller Copper-Gold, Boston Creek Mines (LOI) and Philip Properties (LOI)

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Figure 2. Potential VMS Horizon EM Conductors Central to Miller Copper Gold Property, Boston Creek Mines Property LOI and Philip Property LOI

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Plate Modeling Identifies Philip Property EM Conductors - Potential VMS Horizons

Recent plate modeling by RM Geoscience estimated the conductance of the Geotem III AEM anomaly on the Philip Property (Figure 2) to be 50 Siemens, dipping NE with a 250 metre strike length, minimum 300 metre depth extent and topping out at approximately 120 metres depth below surface, suggesting a shallow southeastern plunge for the conductive trend. This potential VMS horizon is estimated to strike 319 degrees Az and dip -82 degrees to the northeast. Additional lines of surface EM surveying are recommended to further define conductors on the Philip Property. 

Future Exploration Plans

Northstar intends to follow up on the 2023 Cam Copper trend surface sample and 2024 EM survey targets in the spring of 2024, with a program of prospecting, geological mapping, sampling and a Phase II diamond drill program. Northstar will also conduct surface inspections of historic workings, due diligence of the Boston Creek Mines and Philip Properties, and negotiate acquisition terms. 

  1. OGS 1980: Airborne Electromagnetic and Total Intensity Magnetic Survey, Kirkland Lake Area, Pacaud Township, District of Timiskaming, by Questor Surveys Ltd. for the Ontario Geological Survey ; Prelim map P.2273, Geophysical Survey Scale 1: 20 000. Survey and Compilation, February and March 1979.
  1. Ontario Geological Survey 2000. Airborne Magnetic and Electromagnetic Surveys, Kirkland Lake Area; Ontario Geological Survey, Map 82 040, scale 1: 20 000

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