N. Star active at Malartic

Following a property deal with Barrick Gold (ABX-T), Northern Star Mining (NSM-V) has consolidated a large land package around the formerly producing Malartic Goldfields mine in northwestern Quebec.

Northern Star, which will issue 750,000 shares to Barrick and grant a 2% net smelter return on any production, now has about 14 sq. km of contiguous mineral properties in the area, near the town of Malartic, about 16 km west of Val d’Or. The property covers all the workings of the Malartic Goldfields deposit, plus areas Northern Star has been drilling since 2003.

The newly added ground includes the Malartic No. 2 shaft, an 810-metre, 5-compartment shaft that was the main access for the mine. The smaller No. 1 shaft is on Northern Star’s ground. Drilling in the summer and early fall intersected several new zones of gold mineralization on the Malartic structure.

Northern Star assumes any rehabilitation liabilities attached to the Barrick property and must deliver a clearance certificate from the Quebec government to Barrick. The share issue is subject to approval by the TSX Venture Exchange.