Northern Star Resources Ltd · ASX:NST
Northern Star Resources — Technical Presentation (September 2019)
28 slides from Northern Star Resources's technical presentation, Sep 19, 2019
Slide 1: An Australian gold miner - for global investors
For personal use only An Australian gold miner - for global investors Pogo Site Visit - September 2019
Slide 2: Resources & Reserves and Forward Looking Statements
Resources & Reserves and Forward Looking Statements For personal use only Mineral Resources and Ore Reserves The Mineral Resources and Ore Reserves information reported in accordance with the 2012 edition of the Joint Ore Reserves Committee’s Australasian Code for Reporting of Mineral Resources and
Slide 3: Pogo Mining Presentation
For personal use only Pogo Mining Presentation
Slide 4: Fundamentals strong, transition on track
Pogo – Fundamentals strong, transition on track Total monthly development metres advance For personal use only (excludes contractor metres) Target of A$37M growth capital in FY20 1,600 1,500m per ▪ 76% increase with arrival month committed for developing & 1,400 of new equipment in establishing new
Slide 5: Month on month improvement
Pogo – Month on month improvement ▪ Pogo is currently mining constrained until new For personal use only stoping areas come on line which is part of the 18 month transition plan announced at acquisition Pogo tonnes mined by category Jan-June FY2019 ▪ Processing shortfall is currently being 80,000 18
Slide 6: Proven business model increasing production and delivering cost improvement
Pogo – Proven business model increasing production and delivering cost improvement Pogo AISC (USD) ($/t) For personal use only ▪ Since acquisition, all-in sustaining cost (AISC) per tonne 400 has reduced by 29%; this will reduce further as more 350 29% reduction in AISC per tonne since acquisition a
Slide 7: Plant 30% upgrade – Confidence to expand
Pogo Plant 30% upgrade – Confidence to expand For personal use only ▪ Focus is now on optimising current throughput ▪ Current capacity of processing plant is ~1Mtpa ▪ Plant expansion to 1.3Mtpa to be delivered by early CY2021 at a capital cost of ~US$30M (US$10M spend in FY2020) ▪ Potential to furth
Slide 8: Processing upgrades to match production
Pogo – Processing upgrades to match production ▪ Current capacity of processing plant is 1.0Mtpa; only plant for over 200km For personal use only ▪ Phase 2 expansion targets 1.3Mtpa run-rate by January 2021 with capital of ~US$30M ▪ Order of Magnitude cost estimate for Phase 3 expansion to 1.5Mtpa f
Slide 9: Enacting the business model
Pogo – Enacting the business model ▪ Pogo is a world-class 10Moz gold endowment that has produced ~4Moz at an average grade of ~13gpt over For personal use only the past 13 years at an average of ~300,000ozpa ▪ Pogo has a JORC Resource of 5.95Moz at 9.6gpt and a maiden JORC Reserve of 1.5Moz at 7.5g
Slide 10: Pogo Geological Presentation
For personal use only Pogo Geological Presentation
Slide 11: Geological Setting of the Pogo Deposit
Geological Setting Geological Settingof ofthe thePogo PogoDeposit Deposit An Intrusion Related Gold Deposit in a World-Class District CONTINENTAL SCALE TECTONO-ELEMENTARY SCALE PROVINCIAL SCALE REGIONAL SCALE LOCAL SCALE For personal use only North America North American Cordillera Tintina Gold Belt
Slide 12: Deposit Scale Geology
Pogo Deposit Scale Geology A High-Grade Structurally-Controlled Stacked Vein System CONTINENTAL SCALE TECTONO-ELEMENTARY SCALE PROVINCIAL SCALE REGIONAL SCALE LOCAL SCALE For personal use only North America North American Cordillera Tintina Gold Belt Goodpaster District Pogo Mine DEPOSIT Mesothermal
Slide 13: Resource & Reserve Trends
Resource & Reserve Trends Resource Reserve Update Demonstrates Strong Growth 10,000,000 POGO MID YEAR 2019 RESERVE & RESOURCE UPDATE For personal use only FEASIBILITY ACQUISITION 4.9Moz - UG Rigs increased from 4 to 9 (116km UG Drilling in FY19) Endowment - RES recalculated in accordance with JORC (
Slide 14: Investment in the Drill Bit
POST NST ACQUISITION: R&R INCREASE Investment in the Drill Bit CORRESPONDS WITH SIGNIFICANT INVESTMENT IN DRILLING use only 7,000,000 2015-MY2018: 140,000 DECREASED DRILLING = 2010-2014: DECREASED R&R TREND INCREASED DRILLING = 6,000,000 INCREASING RESOURCE 120,000 TREND Resource Ounces Total Annual
Slide 15: MY2019 Ore Reserves
Pogo MY2019 Ore Reserves E S MY19 P&P ORE RESERVES SOUTH POGO For personal use only 942kt @ CATEGORY Tonnes Grade Au EAST DEEPS N W 6.8gpt for (‘000) (gpt) (‘000oz) 530kt @ 204koz 8.2gpt for East Deeps 530 8.2 140 140koz Fun Zone 470 8.0 120 MINED 2006-MY2019 Liese 3,513 7.7 866 ~3.9Moz South Pogo 9
Slide 16: MY19 Mineral Resources
MY19 MINERAL RESOURCES Pogo MY2019 Mineral Resources CATEGORY Tonnes Grade Au E S (‘000) (gpt) (‘000oz) SOUTH POGO Central Veins 2,008 7.9 509 For personal use only 2,790kt @ M&I - - - EAST DEEPS N W Inferred 8.4gpt for 2,008 7.9 509 1,634kt @ 753koz 8.9gpt for East Deeps 1,634 8.9 470 470koz M&I 51
Slide 17: An emerging camp scale system
Pogo – an emerging camp scale system GOODPASTER CENTRAL POGO MINE AREA Gold Produced to June 2019: ~4Moz SOUTHERN EXTENSIONS For personal use only Maiden 2019 Discovery Resource 0.5Moz 2019 Resource: 4.9Moz Hill 4021 Maiden 2019 Reserve: 1.5Moz 2019 Resource: 0.5Moz Inadequately Tested Not Tested In
Slide 18: Deposit Scale Geology: Scale of the System
Pogo Deposit Scale Geology Scale of the System ▪ Mineralised structures poorly drilled at margins For personal use only ▪ Mineralisation remains open POGO 3D MODEL LIESE ZONE VEINS https://inventum3d.com/c/nsrltd/pogo A SOUTH POGO FUN ZONE NORTH ZONE A A B B A B B B A B A B A B A B 18
Slide 19: In-Mine & Near Mine Potential
Pogo In-Mine & Near Mine Potential A$20M FY2020 Exploration Budget Drill Intersections >3.8gpt (0.11 opt) For personal use only Assay Grade South Pogo East Deeps ▪ Continued Extension of vein systems (open in all directions) ▪ Conversion of Inferred Resources: Liese North Zone ▪ 12.2Mt @ 9.5gpt for
Slide 20: Near Mine Exploration: Central Veins
Near Mine Exploration: Central Veins Discovery of a New Stacked Vein System within 600m of the Existing Underground ▪ The Central Veins are interpreted to be an offset fault block of Liese-style veining & mineralisation For personal use only SURFACE Central Vein Example: 18-009: 4.6m@8.3gpt ▪ FY2019
Slide 21: Goodpaster Discovery
For personal use only Goodpaster Discovery
Slide 22: Goodpaster Discovery
Goodpaster Discovery For personal use only ▪ The Goodpaster discovery extends over 2.3km along strike and remains open in every direction ▪ Series of stacked flat- dipping (Liese-type) and steeply dipping (North Zone-type) vein structures ▪ Surface diamond drilling program targeting Liese-type vein
Slide 23: Goodpaster Discovery
Goodpaster Discovery Looking SE For personal use only South Pogo Liese Veins Fun Zone West Knoll Goodpaster River Central Lodes Goodpaster Diorite G7 Structure G3 Structure 0 250 500 750 G2 Structure 23 G1 Structure Metres
Slide 24: Regional Potential
For personal use only Regional Potential
Slide 25: Regional Potential – Emerging gold camp
Regional Potential – Emerging gold camp High quality exploration portfolio of early stage prospects on the Pogo claim block For personal use only ▪ Key prospects: Burn, Hill 4021, Theits, Keri, Spring, SHAW Tam, Cholla and Star Goodpaster ▪ Pogo-style veins exposed at West Knoll Pogo surface and int
Slide 26: Regional Potential
Regional Potential For personal use only SKIPPY Historical rock chip sampling up to 18.8gpt SHAW Au*, no drill testing JORC 2012 Resource 0.5Mozs @ 8.2 gpt Au Historical drilling returned 2.9m @ 21.6 gpt Au* Goodpaster Pogo Theits Hill 4021 Burn Spring Cholla Soil Au (ppb) 150 50 Historical drill in
Slide 27: Regional Potential – District-scale gold camp
Regional Potential – District-scale gold camp Exploration portfolio expanded with Stone Boy Project acquisition For personal use only ▪ Recently acquired Stone Boy Project for a total SHAW SKIPPY consideration of US$1.2M SHAW ▪ Significant exploration tenure added close to the Pogo Project ▪ Data co
Slide 28: Northern Star Resources Limited
For personal use only Northern Star Resources Limited ASX Code: NST An Australian mid cap gold miner – for global investors Investor Enquiries: Luke Gleeson, Investor Relations Level 1, 388 Hay Street, Subiaco 6008 Western Australia T: +61 8 6188 2100 E: info@nsrltd.com W: www.nsrltd.com Inventum 3D
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