The second tranche consisted of 6,354,000 flow-through units ('Flow-Through Units'), for total gross proceeds of
The Company paid a total of
The gross proceeds from the sale of the Flow-Through Shares will be used to incur eligible Canadian Exploration Expenses ('CEE') at the Company's 100%-owned flag-ship Miller Gold Property, situated 18km southeast of
Miller Gold Property Exploration Highlights
Since going public by IPO in 2020,
Completed a 2-phase, 22-hole, 4,485 metre drill program at the Miller Gold Property in 2021.
Exploration more than doubled the surface area of the near-surface
350 metres X 200 metres and remains open along strike to the northwest, south and southeast.
Several narrow, high-grade gold-telluride and broader, 70-770 gold gram/metre drill intercepts obtained from
2021
Completion of an extensive surface stripping, mapping and sampling program at Miller in 2021 where 529 channel and 46 grab samples were collected from 8 stripped areas. The best overall results were obtained in Areas C1 and C2 (14.79 g/t Au over 7.0 metres, 1.17 g/t Au over 14.0 metres) extending the
Previous
As a precursor to a Mineral Resource Estimate and for reporting purposes, on
'The SRK Miller Gold Property Exploration Target Model Study is a milestone achievement for
'Exploration Target Study results overlay less than 20% of the Miller Gold Property and do not include numerous additional gold exploration targets and recent discoveries.
About
All scientific and technical information contained in this News Release has been prepared under the supervision of
Contact:
Mr.
President, CEO and Director
T: (604) 617-8191
E: bfowler@northstargoldcorp.com
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Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
All statements, other than statements of historical fact, contained in this news release constitute 'forward-looking information' within the meaning of applicable Canadian securities laws and 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (referred to herein as 'forward-looking statements'). Forward-looking statements include, but are not limited to, disclosure regarding the completion of the Offering and potential gross proceeds to be raised pursuant thereto, the receipt of all applicable regulatory approvals, the prospective nature of the Company's property interests, exploration plans and expected results, conditions or financial performance that is based on assumptions about future economic conditions and courses of action; planned use of proceeds, expenditures and budgets and the execution thereof. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate' or 'believes', or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results, 'may', 'could', 'would', 'will', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connotation thereof.
All forward-looking statements are based on various assumptions, including, without limitation, the expectations and beliefs of management, the receipt of applicable regulatory approvals. availability of financing, the assumed long-term price of gold, that the current exploration and other objectives concerning its mineral projects can be achieved and that its other corporate activities will proceed as expected; that the current price and demand for gold will be sustained or will improve; the continuity of the price of gold and other metals, economic and political conditions and operations; the prospective nature of the Company's properties, availability of financing, and that general business and economic conditions will not change in a materially adverse manner.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks and uncertainties related to the completion of the Offering as presently proposed or at all, the failure to obtain all applicable regulatory approvals; actual results of current exploration activities; environmental risks; future prices of gold; operating risks; accidents, labour issues and other risks of the mining industry; delays in obtaining government approvals or financing; and other risks and uncertainties. These risks and uncertainties are not, and should not be construed as being, exhaustive.
Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In addition, forward-looking statements are provided solely for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of our operating environment. Accordingly, readers should not place undue reliance on forward-looking statements.
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