Copper / Gold

Northern Star Resources Ltd 100%

The Cheroona Project is located 70km north of Meekatharra in the Murchison Mineral Field, Western Australia. The 110km2 tenement straddles the highly prospective Bryah-Padbury and Yerrida basins, just 80km southwest of Sandfire Resources Limited's high-grade copper-gold volcanogenic massive sulphide (VMS) deposits (DeGrussa Project).

Cheroona is considered highly prospective for VMS style copper-gold mineralisation and occurs in a similar geological setting to the DeGrussa Project (similar prospective rock types, structure, stratigraphic position and mineralisation model).

VMS deposits tend to occur in multiple clusters, and given only 2 VMS style deposits have been located in the Bryah basin to date (due to past focus predominantly on gold exploration), an exciting new VMS camp may be emerging.

Within a radius of 10km of the Cheroona Project, historic production from old workings in the Narracoota Volcanic Formation (the same rock type which hosts the DeGrussa Project) is about 14,000 oz Au and 1t Cu. An initial search on previous exploration activities within the Cheroona tenement located rock chip samples returning multiple +1g/t Au assays ranging up to 10g/t Au (Karalundi 2 to 6 prospects; Figure 2). Of significance is Karalundi 5, where 18 samples taken over a 2km x 1.2km area returned 1-10g/t Au. In addition, shallow historic shafts and recent alluvial gold diggings occur at The Reef prospect. The Reef and Karalundi prospects are immediate exploration targets.

The Beatty Park Project is located 30km to the north west of Cheroona and consists of one tenement application (Figure 1). Beatty Park also overlies the prospective Narracoota Formation and sits on the Bryah basin margin; thus highly prospective for VMS style Cu-Au mineralisation.