Northern Star Resources Ltd · ASX:NST
Northern Star Resources — Technical Presentation (September 2022)
30 slides from Northern Star Resources's technical presentation, Sep 23, 2022
Slide 1: Pogo Site Visit Presentation
For personal use only Pogo Site Visit Presentation September 2022
Slide 2: Forward Looking Statements, Reserves and Resources
Forward Looking Statements, Reserves and Resources Forward Looking Statements For personal use only Northern Star Resources Limited has prepared this announcement based on information available to it. No representation or warranty, express or implied, is made as to the fairness, accuracy, completene
Slide 3: Acknowledging our landowners
Acknowledging our landowners For personal use only Northern Star respectfully acknowledges the Alaska Native people upon whose ancestral lands our Pogo Operation resides. Our Pogo Operation is situated on the ancestral lands of the Athabascan people and we honour them for being stewards of these lan
Slide 4: Pogo: A Tier-1 location and growing Group contributor
Pogo: A Tier-1 location and growing Group contributor FY22 Gold Sold For personal use only Located in the upper Goodpaster River Valley, ~145km southeast of Fairbanks, ~60km northeast of Delta Junction Yandal 28% Within the Tintina Mineral Belt, a metal province stretching much of interior Alask
Slide 5: Pogo: One of North America's most high grade gold mines
Pogo: One of North America’s most high grade gold mines For personal use only Mineral Resource Gold Grade Top 3 producing mine in North America by (g/t) Resource* grade AND Resource size 14 12 10.2 FY22 performance 10 1.8Moz Ore Reserves at 8.5g/t gold grade 8 7.3Moz Mineral Resource at 10.2g/t
Slide 6: Working at Pogo
Working at Pogo For personal use only Local employment Fully operational camp (housing, food, water treatment, medical, fire department) Alaska Other Other US States 60% 7% 33% Operational 24 hours per day, year round ~600 workforce (~50% Northern Star Mining Services) Shifts are generally 12 hours
Slide 7: Connecting with our Community
Connecting with our Community For personal use only Working with our local and regional communities to achieve mutually beneficial partnerships and sustainable long term social benefits Community & Inclusion Health & Wellness Environment Indigenous Advancement Education & Development 7
Slide 8: Geology - Our continuous improvement journey
For personal use only GEOLOGY - Our continuous improvement journey
Slide 9: Pogo regional to mine scale geological setting
Pogo regional to mine scale geological setting For personal use only POGO North America North American Cordillera Pogo gold deposit is one of several Intrusion Related Gold Systems (IRGS) in the Central Northern Cordillera spatially and temporally associated with the early to mid-Cretaceous magmat
Slide 10: Pogo Underground: Six known deposits
Pogo Underground: Six known deposits For personal use only Pogo Ore Reserves of 1.8Moz at 8.5g/t gold grade Liese System consists of at least 4 stacked flat to moderately dipping quartz veins South Pogo, Fun Zone and Central Lodes are direct extensions of Liese veins North Zone consists of series of
Slide 11: Pogo continues delivering growth in Resource & Reserve
Pogo continues delivering growth in Resource & Reserve Moz For personal use only 8.0 Change of Mining Method 7.0 Resource Growth Goodpaster 6.0 Central Veins Acquisition North Zone 5.0 East Deep Fun Zone 4.0 3.0 Liese Veins JORC Resource Declared 2.0 South Pogo 1.0 0.0 Mineral Resources of 7.3Moz
Slide 12: Entering a new phase of significant exploration potential
Entering a new phase of significant exploration potential For personal use only Section View A-B Looking North Hill 4021 Liese Veins Goodpaster Significant Potential for Discovery Drill Drive development and commencement of in-mine exploration drilling Focus on near-mine exploration (Goodpaster)
Slide 13: Continuous improvement journey
Continuous improvement journey For personal use only Geology team of 54 staff, supporting 10-13 underground drill rigs Focus on a fundamental “geology first” approach (face mapping, sampling and backs mapping to build quality models) Implementation of new systems, processes and procedures to a
Slide 14: A clear multi-year roadmap ahead
A clear multi-year roadmap ahead FY23 Resource to Reserve conversion “People are the centre of our success” For personal use only FY24 Resource expansion into areas accessed by Drill “Gold comes from the Drill Bit” Drives (North Zone, Central Veins, Liese downdip as “More often than not, the next di
Slide 15: Underground - Transitioning for the next decade
For personal use only UNDERGROUND - Transitioning for the next decade
Slide 16: Pogo Underground Operations Plan View
Pogo Underground Operations Plan View For personal use only 4 portals to surface, 3 access ramps and 1 for ore conveyor Mine footprint of 2.7km x 2.9km, with the Goodpaster Resource a further 1.2km NW of the current underground workings Longhole open stoping in flat-dipping ore bodies with pas
Slide 17: Foundations set, ready to optimise
Foundations set, ready to optimise For personal use only Repair Rebuild Optimise New mining Major mine Strong technical and fleet infrastructure operational capability with 300kozpa Change in upgrades NSR and NSMS mining method New mining practices Setting up the mine for Established
Slide 18: Mine ramp up progressing with additional mining fronts
Mine ramp up progressing with additional mining fronts For personal use only Currently mining in 4 areas (Leise, Fun Zone, North 100 2,000 Zone and South Pogo) Target 3-5 available mining areas open at any one 75 300kozpa run rate 1,500 time to deliver ~70% stope ore contribution +70 headings
Slide 19: On track to reach 70% stope ore contribution in FY23
On track to reach 70% stope ore contribution in FY23 For personal use only FY22: 57% stope ore: 43% development ore 100% FY23e: ~70% stope ore: ~30% stope ore 90% 80% 70% stope ore: development ore An increased percentage of higher grade stope ore 70% tonnes in the mill feed is a key part of 3
Slide 20: Processing - Our continuous improvement journey
For personal use only PROCESSING - Our continuous improvement journey
Slide 21: Investment and optimisation journey
Investment and optimisation journey For personal use only FY22 performance 1.4 95 1.3mtpa mill capacity Controlled variability testing to fully understand 1.2 90 plant sensitivities Throughput rate (Mtpa) 1.0 85 Changes required to further optimise outcomes Recovery (%) 0.8 Plant upgrade work
Slide 22: Process upgrades
Process upgrades For personal use only SAG feed cart Jameson cell Float dart valves New thickener Filter press 4 22
Slide 23: Pogo process flowsheet
Pogo process flowsheet For personal use only Recent upgrades 23
Slide 24: Sustainability - Our continuous improvement journey
For personal use only SUSTAINABILITY - Our continuous improvement journey
Slide 25: Electricity - Lowering costs and emissions
Electricity - Lowering costs and emissions For personal use only US Inflation Reduction Act of 2022 (IRA) injects major funding into the US efforts to become a net-zero economy by 2050 With these measures, economy-wide emissions are forecast to decline between 37% to 41% below 2005 levels by 203
Slide 26: 2030 Pathway to Reduce Emissions by 35%
2030 Pathway to Reduce Emissions by 35% For personal use only TBO Expansion Strategic value Lower cost base enhances mine life Pogo More than 35% renewable power 26
Slide 27: ESG initiatives
ESG initiatives For personal use only Heliportable drilling is utilised to reduce impacts on the natural environment by reducing the requirement to clear vegetation for access tracks and minimise disruption to the biodiversity of the region Potential expansion of the Dry Stack Tailings from 20Mt
Slide 28: In Conclusion
For personal use only IN CONCLUSION
Slide 29: Pogo continues to perform in line with expectations
Pogo continues to perform in line with expectations For personal use only Pogo continues to perform well and in line with our planned expectations with physicals improving Full year guidance of 260-290koz AISC guidance of US$1,300-1,400/oz (A$1,857-2,000/oz) 2H weighting due to: ~4-6 month
Slide 30: Northern Star Resources Limited
Northern Star Resources Limited ASX Code: NST For personal use only Business First. Investor Enquiries: Sophie Spartalis T: +61 8 6489 2488 E: investorrelations@nsrltd.com W: www.nsrltd.com 30
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