Binding agreement to earn up to 80% of the Goodpaster Project, adjacent to Northern Star’s Pogo Gold Mine, Alaska

GP MRGeoMAP ASX EDM

Millrock Senior Project Geologist Chris Van Treeck with N27/Millrock claims in foreground towards river, with Northern Star’s (ASX: NST) Pogo Gold Mine in background centre.

 

Executive Summary

 

  • The Company has executed a binding term sheet with Millrock Resources Inc (TSXV: MRO) to earn up to an 80% interest in the brownfields Goodpaster Project in Alaska

  • The Goodpaster Project surrounds Northern Star’s (ASX: NST) Pogo Mine, which has produced 4 Moz @ 13.6g/t at 300koz pa; reserve/resource of over 6 Moz Au (ASX: NST Announcement 19/9/2019)

  • Northern Cobalt has secured an exclusive option for up to 100 days to complete due diligence and provision drill access road works in preparation for the 2020 drilling program

  • Drilling to begin in Q1, 2020 on high priority drill targets immediately adjacent to the recent NST announced Goodpaster Discovery “2.3km strike open in all directions” (ASX: NST Announcement 16/9/2019) within 450m of the claim boundary 

  • Initial exploration program will include 7,500m of diamond core drilling

  • Joint lead managers PAC Partners Securities and Taylor Collison have firm commitments for a placement of $1.5m

 

READ THE FULL ASX RELEASE HERE

 

Watch the Small Caps interview with new MD Duncan Chessell and learn more about the Goodpastor Gold project.