New Gold Zone Discovery at Northgate Minerals' Young-Davidson Property
11 September 2009 - 6:15AM
PR Newswire (US)
VANCOUVER, Sept. 10 /PRNewswire-FirstCall/ -- Northgate Minerals
Corporation (TSX: NGX, NYSE Amex: NXG) is pleased to announce the
discovery of a new zone of mineralization at its Young-Davidson
property, located near the town of Matachewan in northern Ontario.
The discovery was made by two geotechnical/condemnation holes
drilled in the location of the proposed shaft that intersected a
zone of syenite-hosted gold mineralization, 300 metres (m) east of
the known reserves and resources on the Young-Davidson property.
Drilling Highlights A summary of assay results from the two drill
holes is shown in Table 1 below. Both holes intersected resource
grade gold intervals highlighted by hole YDFS-10A, which
intersected 2.92 grams per tonne (g/t) gold over 10.5 metres (m).
Table 1: Assay Results from Holes YDFS-9C and YDFS-10A
-------------------------------------------------------------------------
Hole ID From (m) To (m) Core Length (m) Gold Cut 20g (g/t)
-------------------------------------------------------------------------
YDFS-9C 617.1 618.9 1.8 2.85
-------------------------------------------------------------------------
632.9 636.0 3.1 3.67
-------------------------------------------------------------------------
668.7 672.0 3.3 6.08
-------------------------------------------------------------------------
-------------------------------------------------------------------------
YDFS-10A 831.5 864.0 32.5 1.76
-------------------------------------------------------------------------
incl 835.5 846.0 10.5 2.92
-------------------------------------------------------------------------
incl 835.5 838.5 3.0 6.59
-------------------------------------------------------------------------
incl 858.0 864.0 6.0 2.50
-------------------------------------------------------------------------
Ken Stowe, President and Chief Executive Officer, stated, "This is
an exciting and significant discovery as we have identified what
appears to be a down faulted eastern extension of the
Young-Davidson ore body at a depth of 600 metres. The new zone is
completely open and untested to the east and down dip and although
much more work will be required to define the size and grade of the
zone, it has the potential to add to the 2.8 million ounces of
reserves currently on the property. The new zone is immediately
adjacent to the proposed shaft and any reserves that are ultimately
identified in the area will be easily minable using the
infrastructure that has been contemplated in the recently completed
Young-Davidson Prefeasibility study." Next Steps The two diamond
drill intercepts are located in the same plane as the existing
Young-Davidson ore body to the east of the known reserves and
resources at depths of approximately 600 and 800 metres,
respectively. Follow up diamond drilling will commence later this
month (see Figure 1) to test the extent of the new zone of
mineralization down dip and along strike to the east. To view
"Figure 1: Young-Davidson Property (Vertical, North Looking,
Longitudinal Section with Metric Grid)", please click on
http://www.northgateminerals.com/Theme/Northgate/files/Releases/YD_LS_Sep09.gif
Quality Control - Analyses and Sample Location Details of quality
assurance/quality control procedures for sample analysis and drill
hole survey methodology are reported in detail in the National
Instrument 43-101 (NI 43-101) Technical Report filed on SEDAR
(http://www.sedar.com/) on August 21, 2009. Qualified Persons The
program design, implementation, quality assurance/quality control
and interpretation of the results is under the control of
Northgate's geological staff that includes a number of individuals
who are qualified persons as defined under NI 43-101. Overall
supervision of the program is by Carl Edmunds, PGeo, Northgate's
Exploration Manager. Appendix 1: Drill Hole Collar Locations
-------------------------------------------------------------------------
Hole ID Easting Northing Elevation Collar Azimuth Collar Dip Depth
(m)
-------------------------------------------------------------------------
YDFS-9C 9870.9 23943.5 10319.0 345.0 -69.0 1203.0
-------------------------------------------------------------------------
YDFS-10A 9770.8 23849.8 10322.9 0.0 -70.0 1460.0
-------------------------------------------------------------------------
Note to Investors: The terms "Qualified Person", "Mineral Reserve",
"Proven Mineral Reserve", "Probable Mineral Reserve", "Mineral
Resource", "Measured Mineral Resource", "Indicated Mineral
Resource", and "Inferred Mineral Resource" used in this news
release are defined in accordance with NI 43-101-Standards of
Disclosure for Mineral Projects of the Canadian Securities
Administrators. Northgate Minerals Corporation is a gold and copper
producer with mining operations, development projects and
exploration properties in Canada and Australia. The company is
forecasting record gold production of over 380,000 ounces in 2009
and is targeting growth through further acquisition opportunities
in stable mining jurisdictions around the world. Northgate is
listed on the TSX under the symbol NGX and on the NYSE Amex under
the symbol NXG. Forward-Looking Statements: This Northgate press
release contains "forward-looking information", as such term is
defined in applicable Canadian securities legislation, concerning
Northgate's future financial or operating performance and other
statements that express management's expectations or estimates of
future developments, circumstances or results. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "expects", "believes",
"anticipates", "budget", "scheduled", "estimates", "forecasts",
"intends", "plans" and variations of such words and phrases, or by
statements that certain actions, events or results "may", "will",
"could", "would" or "might" "be taken", "occur" or "be achieved".
Forward-looking information is based on a number of assumptions and
estimates that, while considered reasonable by management based on
the business and markets in which Northgate operates, are
inherently subject to significant operational, economic and
competitive uncertainties and contingencies. Northgate cautions
that forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause Northgate's actual
results, performance or achievements to be materially different
from those expressed or implied by such information, including, but
not limited to gold and copper price volatility; fluctuations in
foreign exchange rates and interest rates; the impact of any
hedging activities; discrepancies between actual and estimated
production, between actual and estimated reserves and resources or
between actual and estimated metallurgical recoveries; costs of
production; capital expenditure requirements; the costs and timing
of construction and development of new deposits; and the success of
exploration and permitting activities. In addition, the factors
described or referred to in the section entitled "Risk Factors" in
Northgate's Annual Information Form for the year ended December 31,
2008 or under the heading "Risks and Uncertainties" in Northgate's
2008 Annual Report, both of which are available on the SEDAR
website at http://www.sedar.com/, should be reviewed in conjunction
with the information found in this press release. Although
Northgate has attempted to identify important factors that could
cause actual results, performance or achievements to differ
materially from those contained in forward-looking information,
there can be other factors that cause results, performance or
achievements not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate
or that management's expectations or estimates of future
developments, circumstances or results will materialize.
Accordingly, readers should not place undue reliance on
forward-looking information. The forward-looking information in
this press release is made as of the date of this press release,
and Northgate disclaims any intention or obligation to update or
revise such information, except as required by applicable law.
DATASOURCE: Northgate Minerals Corporation CONTACT: Ms. Keren R.
Yun, Director, Investor Relations, Tel: (416) 363-1701 ext. 233,
Email: , Website: http://www.northgateminerals.com/
Copyright