Vancouver, British Columbia–(Newsfile Corp. – July 18, 2024) – Northstar Gold Corp. (CSE: NSG) (“Northstar” or the “Company”), has successfully completed the first tranche of its non-brokered private placement offering. The Company announced the closure of the first tranche, consisting of 1,850,000 Critical Minerals Flow-Through Units and 3,607,112 Hard Dollar Units, totaling 5,457,112 Units that generated $254,820.03 in gross proceeds. Northstar is set to close a second tranche soon as they have received additional orders.
Insight into Private Placement Offering
The private placement offerings of Flow-Through Units and Hard Dollar Units at specific prices reflect the Company’s strategy to raise funds for critical mineral exploration, specifically in the field of copper and gold. The financing aimed at drilling a newly identified conductor, indicative of potential copper-bearing mineralization, signifies Northstar’s commitment to advancing its mining operations.
The tranches involved a payment of finder fees and a statutory four-month hold period for all securities issued, ensuring compliance with regulatory standards and providing transparency for investors.
Exploring Additional Mineral Deposits
Northstar’s expansion into the Boston Creek Mines and Philip Property showcases the Company’s consolidation efforts to explore new high-grade copper shaft mines and VMS horizons in the region. This strategic move aligns with Northstar’s goal of enhancing its mineral resource base and diversifying its exploration portfolio.
Positioning to conduct drilling tests on the Zone 2 Extension Conductor and expanding the South Boston Creek Copper Trend reflects Northstar’s commitment to unlocking the full potential of its properties and establishing a strong foothold in the mining industry.
Quality Control Measures
The rigorous quality control program implemented by Northstar for its properties ensures reliable sampling and analysis practices, thereby enhancing the accuracy and credibility of the Company’s exploration results. Adherence to standardized testing protocols and accreditation from recognized laboratories demonstrates Northstar’s dedication to upholding industry best practices.
Qualified Leadership
Having a Qualified Person like Brian P. Fowler overseeing the technical aspects of the Company’s operations affirms Northstar’s commitment to maintaining high standards of professionalism and regulatory compliance. By entrusting qualified individuals with key roles, Northstar can leverage expertise and industry knowledge to drive its exploration efforts.
Northstar’s diverse exploration projects and strategic partnerships signify its long-term vision of building a robust mineral resource base and establishing a strong presence in the mining sector.
