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Northgate Announces Increase in Gold Reserves at its Stawell Gold Mine
Monday September 8, 4:30 pm ET Mine-Life Extended by 1.5 years Until Q4-2011 VANCOUVER, Sept. 8 /CNW/ - (All figures in US dollars except where noted) - Northgate Minerals Corporation (TSX: NGX, AMEX: NXG) is pleased to announce that exploration drilling since February 2008 has identified approximately 880,000 tonnes of additional mineral reserves at its Stawell Gold Mine located in Victoria, Australia. These newly defined reserves contain 140,000 ounces of gold and will extend the current mine-life by an additional 18 months until the fourth quarter of 2011. Reserve Highlights - 140,000 ounces of additional gold reserves have been delineated in only five months at a cost of $20/ounce. - Stawell's mine-life has been extended for an additional 18 months until Q4-2011. - The new GG6 reserve zone averages 6.0 g/t gold, which is approximately 15% higher than the reserve grade in other areas of the mine. - GG6 remains open to the north, where there is excellent potential to add additional high grade reserves. - High-grade mineralization intersected below GG6 has provided additional exploration targets, which will further enhance the GG6 zone. Sentiment : Strong Buy Rating :
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Northgate NGX/NXG
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monedeal | (2 Ratings) | 19-Sep-08 11:48 am | ||
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thanx for good post.
sf
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sfsos2000 | (1 Rating) | 19-Sep-08 01:24 pm | ||
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Rumor: NGX invested heavily in Lehman, lost ...
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philsyh | Rate it | 17-Oct-08 04:44 pm | ||
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Northgate rated buy to $2.75
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monedeal | Rate it | 1-Oct-08 01:28 pm | ||
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MY FRIEND STRONGLY FEELS THAT THE MANAGEMENT OF TH...
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nadirnaseem... | Rate it | 6-Oct-08 09:03 pm |
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