continued success going forward.” The Pogo operations COO said this diligence resulted in North- ern Star’s Alaska asset producing 209,647 oz of gold during the Aus- tralian company’s fiscal year 2021, which ended on June 30. He is particularly encouraged by Pogo’s strong finish to Northern Star’s fiscal year. Roughly 240,000 metric tons of ore averaging 9.1 grams per metric ton gold was mined and processed at Pogo last quarter, both records for the mine. As a result, Pogo pro- duced 60,968 oz of gold, the highest quarterly output since Northern Star acquired the operation. At this pace, the Alaska mine would easily meet Northern Star’s higher gold production guidance for FY 2022, as the Australian compa - ny continues to increase production and drive down costs over the com- ing two years. With a mill expansion antici- pated to be completed by Septem- ber, Northern Star’s Pogo Mine is expected to produce upwards of 250,000 ounces of gold over the next year and 300,000 ounces in the year to follow. Northern Star forecasts Pogo will produce 220,000 to 250,000 ounces of gold at all-in sustaining costs of around $1,300 (U.S.) per ounce of gold during fiscal year 2022, which got underway on July 1. To spur these improved produc- tion metrics, Northern Star is in- vesting roughly $55 million (U.S.) in growth capital to increase the mill processing capacity at Pogo, which is scheduled for completion by September; accelerate under- ground development to access more ore to feed into the higher capacity mill; and improve both surface and underground infrastructure to sup- port the company’s growth vision for the mine. These improvements also set Pogo up to produce 300,000 oz in FY23. As of the end of March, Pogo hosted 12.86 million metric tons of indicated resource averaging 9.5 grams per metric ton (3.95 million oz) gold, plus 10.03 million metric tons of inferred resource averaging 9.1 g/t (2.95 million oz) gold. Of these resources, 5.85 million metric tons 8 g/t (1.5 million oz) gold has been elevated to reserve status.
SHIP BEYOND THE RAILS. FROM RAIL TO SEA TO ROAD, WE DO IT ALL. The Alaska Railroad does more than you might expect. We ship freight to and from anywhere in North America. Even places without rail access. And we handle all the logistics along the way. So whatever it takes to get it there – barge, train, truck - you only need to deal with one point of contact and one invoice. Call for a free quote today: 800.321.6518 | AlaskaRailroad.com/freight
Photo taken pre-COVID
ALASKAN-POWERED Hecla Greens Creek is America’s leading silver producer. We’re putting a lot of Alaskans to work and contributing to our economy. That’s Miner Strong.
13
Summer 2021
The Alaska Miner
Made with FlippingBook - PDF hosting