Tag: Jundee mine

BY ELIZABETH FABRI AUSTRALIA’S third-largest gold producer Northern Star Resources will boost its exploration program after making multiple discoveries at and around its Jundee gold mine in WA. As a result of the drilling success, Northern Star increased its FY18 exploration budget by $10 million to $45 million. It plans to accelerate a number of drilling programs to bring the recent discoveries into the Reserve category. The discoveries included high-grade finds at the Zodiac discovery and the Armada trend, 400m and 800m from the Jundee mine, respectively. Northern Star executive chairman Bill Beament said the results would change the way the 10 million ounce (moz) Jundee gold field was viewed. “With production of 7moz over the past 22 years, Jundee…

BY ELIZABETH FABRI PERTH-based gold miner Northern Star has invested $23.2 million in junior explorer Echo Resources to expand its footprint near its Jundee gold mine. Echo Resources, which holds tenements immediately south of Jundee, is planning to develop a new Yandal gold project utilising its nearby mothballed Bronzewing processing plant. In early December, Northern Star purchased 80 million Echo shares at an average price of $0.29, obtaining a 16.4 per cent interest in the company. Its investment came a week after Echo released an updated ore reserve for the project of 15.6 million tonnes grading 1.7 grams per tonne for 856,000oz of gold, and a little over a month since Echo undertook a $15 million capital raising. Echo chief…