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Northstone Resources (ASX: NRL) has hit 36m at 5.85g/t AuEq at its Tlamino project in Serbia, significantly exceeding expectations in an area previously modelled as low grade. In this Capital Compass interview, CEO Max Piirto explains what the result could mean for the existing 670,000oz gold-equivalent estimate and the company’s upcoming maiden JORC resource.
HIGHLIGHTS
- A standout drilling result: Northstone hit 36m at 5.85g/t AuEq, well above the 30–40m at around 1g/t it had expected in this area.
- Higher-grade mineralisation: Infill drilling is identifying higher-grade mineralisation in an area previously modelled as low grade, potentially strengthening the upcoming resource estimate.
- A maiden JORC resource: Northstone is converting its historical resource estimate to JORC standards, with updated modelling reflecting current gold and silver prices and an economic study to follow.
- Exploration beyond the known deposit: Systematic drilling has started beyond the two known outcropping mineralised zones at Tlamino, with the first greenfield assays beginning to come through.
- A second project in the pipeline: Timok East covers 450sq km near Serbia’s major Barje mining complex, with existing drill-ready targets and a meaningful copper discovery targeted for 2027.
We’re adding tons, we’re adding grade in an area of the resource that was previously modelled all at low grade.
With further assays expected and a maiden JORC resource anticipated in around a month, Northstone is approaching an important period of resource definition and exploration.
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