EXPLORATION & DEVELOPMENT

Northern's first SNA drilling hits 42.67m at 0.82g/t gold

Northern Empire Resources’ (CN:NM) first drilling into the SNA deposit at its Sterling gold project in Nevada has shown the deposit remains open for expansion.

Staff reporter
Deposit shows potential for expansion

Deposit shows potential for expansion

Among the highlights, drilling intersected 42.67m at 0.82g/t from 70.11, including 10.67m at 1.82g/t.

SNA has an inferred resource of 126,000 ounces grading 1.03g/t, according to a technical report from July 2017.

Northern Empire acquired Sterling from Imperial Metals in May 2017, for US$10.1 million in cash, plus shares and a 2% NSR royalty on portions of the past-producing property in Nye County.

President and CEO Michael Allen said he was pleased with the results, which represented the first drilling into the SNA deposit by Northern Empire.

The company had about C$18 million (US$14 million) in the treasury at the start of the year and has a 15,000m exploration programme underway at the expanded project.

Its shares have risen from C60c in August to a 52-week high of $1.44 in March. They rose 3c yesterday to $1.37, capitalising it at $91.1 million.

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