An Ontario-based junior miner announced today that the company has signed an option agreement to acquire 100% interest in the 64-hectare Searles Patented situated 18 km southeast of Kirkland Lake, Ontario. Shares of Northstar Gold Corp (CSE:NSG) popped on the news.
Northstar is a public company focused on the exploration, development and acquisition of quality exploration properties in the prolific Abitibi Greenstone Belt. The company’s flagship property is the Kirkland Lake/Lamaque “style”, historic resource-stage 100%-owned Miller Gold Property, located 18km southeast of Kirkland Lake, Ontario.
Traders were bullish on the news as shares shot up to $0.39/share (+9.86%). This move is a continuation of the strong breakout this stock has had from its previous downtrend that lasted nearly a year.