Highlights

  • Northern Star’s FY26 exploration budget remains at AUD 225 million, focused on near-mine and strategic resource growth.
  • Recent drilling expands Fimiston South mineralization 800 metres below existing resources and identifies new prospects such as Golden Goose.
  • Extensional drilling at Pogo and regional successes at Hemi and Yandal demonstrate ongoing exploration potential.

Northern Star Resources Ltd (ASX: NST) has provided an update on its FY26 exploration program, maintaining a steady investment of AUD 225 million. The company’s exploration efforts span key Australian and Alaskan projects, focusing on near-mine growth, extending mine life, and transforming extensive mineralized systems into value. The full Annual Mineral Resources and Ore Reserves Statement for the 12 months ended 31 March 2026 will be published in May 2026.

Sustained Investment Fuels Exploration Across Key Assets

Northern Star continues to invest in exploration with a focus on enhancing its portfolio through organic growth opportunities. The FY26 budget of AUD 225 million remains unchanged, supporting near-mine resource expansion, long-term value generation, and strategic conversions of significant mineralized zones. Concentrated drilling activity at KCGM targets new underground areas that provide both immediate options and extended visibility of the orebody.

Notable Exploration Advances and Discoveries

At KCGM, mineralization at Fimiston South now extends as deep as 800 metres beneath current Mineral Resources. New prospects such as Golden Goose at Mt Charlotte have been identified, adding to exploration potential. Meanwhile, at the Kalgoorlie Operations, exploration at the Ballarat-Last Chance Project, located just west of the Red Hill Mineral Resource, is underway. Drilling success at the recent Hercules discovery also contributes to exploration confidence.

In the Yandal region, nearby areas to existing mining infrastructure reveal opportunities for mine life extension. At Pogo, extensional drilling highlights multiple high-priority targets, showcasing the scale of this globally significant deposit. The Hemi project shows signs of future growth close to established resources, with early exploration success evident at Mt Berghaus.

Exploration Outcomes and Future Reporting

The company’s FY26 exploration activities build upon an industry-leading average resource addition cost of AUD 19 per ounce over the 12 months to March 2025. Preparation is underway to include Hemi Mineral Resources and Ore Reserves in the 2026 Annual Statement. Technical reviews of geological models and underlying assumptions are ongoing to support this inclusion.

Exploration Strategy and Portfolio Development

Northern Star’s exploration team concentrates on high-value brownfield sites within and near existing mining operations, aiming to grow Mineral Resources and support underground drill campaigns at KCGM, Jundee, and Pogo. Additionally, the company advances promising regional projects while incorporating infill drill results from recent acquisitions and discoveries.

The company also engages in Joint Ventures and holds equity stakes in partners exploring both greenfield and brownfield projects across Australia and the United States. The FY26 exploration budget is heavily weighted toward the largest asset, KCGM, with continued efforts at Yandal, Pogo, and the newer development project, Hemi.