Northern Star Resources Limited
(ASX:NST) has boosted total JORC resources at the Jundee gold mine in Western Australia by 68 per cent to 851,000 ounces.
The gold producer says the announcement paves the way for a significant mine life extension and holds strong potential for further increases with a 250,000 to 500,000 ounce exploration target for defining new near-mine areas.
Managing Director Bill Beament says the miner has indentified numerous target areas around existing resources as part of its strategy to grow the mining inventory at Jundee.
Mr Beament believes Jundee will make a substantial contribution through its scale of production, high grade, low costs and strong exploration upside.
Northern Star finalised the Jundee acquisition on July 1 after paying Newmont Mining $82.5 million for the mine.
Northern Star Resources reported a net profit of $7.6 million in the first half of the 2014 financial year.
