Northstar Signs Funding Agreement to Support Cam Copper Surgical Mining Project
Executive Summary
- Northstar Gold Corp. signed a Master Project Agreement with DIGITAL – Canada’s Global Innovation Cluster, Novamera Inc., and Micon International Ltd. to fund a pilot of Novamera’s surgical‑mining technology at the Cam Copper Project.
- The pilot will extract ~120,000 t of copper‑rich material over 31 months using robotic drilling, real‑time imaging, and immediate backfill, with an upfront capital requirement of roughly US $1.5 M; remaining costs are to be structured off‑balance sheet.
- Novamera will receive a 5% revenue share from the project, providing Northstar with low‑cost, low‑impact extraction that could accelerate permitting, reduce waste and water use, and improve project economics.
Key Details
- Parties Involved:
- Northstar Gold Corp. (CSE: NSG) – 100 % owner of Cam Copper Project.
- DIGITAL – Canada’s Global Innovation Cluster (funding partner).
- Novamera Inc. – provider of the “Surgical Mining” turnkey solution.
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Micon International Ltd. – additional project collaborator.
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Project Scope:
- Pilot duration: 31 months.
- Target extraction: ~120,000 t of copper‑rich material from Zone 2 (conceptual tonnage 75–140 kt; grade 9 %–18 %, avg. 12 %).
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Technology: rotary drilling large‑diameter holes, real‑time downhole imaging, AI‑driven robotic drilling, immediate backfill with broken waste rock, closed‑loop water system (no blasting, minimal surface disturbance).
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Financial Terms:
- Upfront capital requirement: ≈ US $1.5 million (paid by Novamera/partners).
- Remaining project capital to be structured off‑balance sheet (details not disclosed).
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Revenue share to Novamera: 5 % of project revenues.
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Strategic Benefits:
- Low environmental footprint – reduced waste rock, minimal water discharge.
- Potentially faster regulatory approvals and lower overall project costs.
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Positions Northstar as a leader in innovative, low‑impact copper extraction critical to the energy transition.
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Management Commentary:
- Brian P. Fowler (President, CEO & Director) highlighted the agreement as “strategic funding endorsement” and validation of the surgical‑mining approach.
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Jim Hollis (CEO, Novamera) emphasized the technology’s role in accelerating critical‑minerals supply with reduced environmental impact.
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Qualified Person Review:
- Christopher Keech, P.Geo., Principal Geologist, CGK Consulting Services Inc., confirmed that technical information aligns with previously disclosed data and studies.
Notable Quotes
“The DIGITAL Master Project Agreement provides a strategic funding endorsement and validation of Novamera's ground‑breaking Surgical Mining approach and copper production potential at Northstar's Cam Copper Project.” – Brian P. Fowler, President, CEO & Director, Northstar Gold Corp.
“Copper is at the heart of the energy transition, and Surgical Mining has the potential to provide a faster pathway to production while radically reducing environmental impact.” – Jim Hollis, CEO, Novamera Inc.