Overview
The South Kalgoorlie Operations (SKO) are located in Kalgoorlie, Western Australia, within the prolific Eastern Goldfields Superterrane.
Mineralization is hosted in orogenic lode gold style deposits associated with greenstones with volcano-sedimentary rocks, controlled by generally NNW-trending shear zones.
Elemental’s royalty covers the long-term producing underground Hampton-Boulder-Jubilee gold mine (HBJ), operated by Northern Star since 2018. The mine is a primary ore source for Northern Star’s regional Kalgoorlie Operations, providing feed to both the Kanowna Belle and KCGM mills. The royalty also covers the Hercules deposit, located approximately 20km west of HBJ. After discovery in 2023, a campaign of resource definition drilling led to an initial combined open pit and underground resource estimate, followed by a maiden reserve in late 2024, and an updated reserve in June 2026. The proposed mining method at Hercules is long-hole stoping with pastefill, with some areas assessed using open stoping with pillars. It is expected that the ore generated will be processed at the Fimiston Processing plant, and that Hercules will be mined simultaneous to HBJ, contributing to increased royalty revenue for Elemental.
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 Bonuses have been paid to Elemental, demonstrating Northern Star’s ability to expand the ore reserve estimate, and highlighting potential for the life of mine to be extended further.
Northern Star Resources “Annual Mineral Resource And Ore Reserve Statement,” dated May 15, 2025
Northern Star Resources “2024 Annual Report,” dated August 22, 2024
Northern Star Resources “Annual Mineral Resource And Ore Reserve Statement,” dated May 2, 2024
Cornerstone assets
