HBJ (SKO)

The South Kalgoorlie Operations (SKO) are located in Kalgoorlie, Western Australia within the prolific Eastern Goldfields Superterrane.

The Company’s royalty covers the long-term producing underground Hampton-Boulder-Jubilee gold mine (HBJ), owned and operated by Northern Star Resources since 2018. The mine is a primary ore source for Northern Star’s regional Kalgoorlie Operations, providing ore to both the Kanowna Belle and KCGM mills.

Gold mineralisation is associated with greenstones with volcano-sedimentary rocks in multiple orogenic lode gold style deposits, controlled by NNW-trending shear zones; and, minor paleoplacer deposits. The main mineralised orebody at HBJ remains open down plunge with limited effective deep drilling undertaken to date on the narrow, subvertical higher grade lodes. With a track record of consistent resource conversion, Northern Star continues to assess potential extensions to the system, including to the north (Mutooroo) and the south (South Jubilee) of current workings, and new shoots such as Mutooroo West.

*A Discovery Bonus of A$1.0 million is payable for each new ore body on the royalty tenement package with production and / or Reserves greater than 250koz of gold.

Since the original acquisition in August 2022, two Discovery Bonus’ have been paid to Elemental Altus, demonstrating Northern Star’s ability to expand the ore reserve estimate, and highlighting potential for the life of mine to be extended further.

Photo Gallery

Sources

• Northern Star Resources “2024 Annual Report”, dated August 22, 2024
• Northern Star Resources “Annual Mineral Resource And Ore Reserve Statement”, dated May 2, 2024
• For more information on Mercedes, please visit https://www.nsrltd.com/