Northgate Minerals Initiates Drill Program at the Awakening Gold Project, Nevada
VANCOUVER, June 23, 2011 /PRNewswire/ - Northgate Minerals Corporation ("Northgate") (TSX: NGX, NYSE-Amex: NXG) is pleased to announce the mobilization of a diamond drill rig program to the Awakening Gold Project in Humboldt County, Nevada.
The Awakening Gold Project consists of 432 claims (approximately 35.9 square kilometres ("km2") or 13.9 square miles) and is located 50 km northwest of Winnemucca, Nevada, on the northwest flank of the Slumbering Hills. The property covers the northwest portion of the historic Awakening mining district and adjoins the north end of the former producing Sleeper Gold Mine, which has produced 1.7 million ounces of gold and 2.3 million ounces of silver.
Prior to commencing the current drill program, Northgate carried out an induced polarization ("IP") survey as well as additional soil and water geochemical sampling to further define drill targets.
The 2011 drill program will consist of 3,000 metres ("m") of diamond drilling on geophysical targets defined by an IP survey completed last year. The geologic target is a low sulphidation gold and silver deposit hosted by quartz-adularia veins in Tertiary volcanic rocks. The project area has been selected on the basis of anomalous ground water samples collected and analysed over previous years.
The drill program is anticipated to last four to six weeks, and drill results should be available for release in the fall.
The Awakening Gold Project is a joint venture agreement with Nevada Exploration Inc. ("Nevada") (TSX-V: NGE). The agreement has been in effect since June 7, 2010, when Northgate signed a formal exploration and option agreement on the project. Northgate recently entered into its second year of the agreement.
Further information on the Awakening Gold Project can be found under the Exploration section of Northgate's website at www.northgateminerals.com.
Figure 1 - 2011 Drill Targets
http://www.northgateminerals.com/Theme/Northgate/files/Releases/2011/targets_2011.gif
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Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. Our vision is to be the leading intermediate gold producer by identifying, acquiring, developing and operating profitable, long-life mining properties.
Cautionary Note Regarding Forward-Looking Statements and Information:
This Northgate press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, 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 estimate 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, 2010 or under the heading "Risks and Uncertainties" in Northgate's 2010 Annual Report, both of which are available on the SEDAR website at 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.
Cautionary Note to US Investors Regarding Mineral Reporting Standards:
Northgate prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to mineral resources in this press release are defined in accordance with National Instrument 43-101-Standards of Disclosure for Mineral Projects under the guidelines set out in the Canadian Institute of Mining, Metallurgy, and Petroleum Standards on Mineral Resources and Mineral Reserves. The Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. The Company uses certain terms, such as, "measured mineral resources", "indicated mineral resources", "inferred mineral resources" and "probable mineral reserves", that the SEC does not recognize (these terms may be used in this press release and are included in the Company's public filings which have been filed with securities commissions or similar authorities in Canada).
SOURCE Northgate Minerals Corporation
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