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Monday, 18th December 2006 (3006 views)

Northgate Minerals Corporation, which focuses on mineral exploration in the Americas, has just announced the results from its latest mineral resource estimating work in Matachewan in Ontario.

The company's Young-Davidson property has seen a comprehensive 2006 drill programme over all three zones with new indicated and inferred resources both rising.

The total measured and indicated gold resource is now 1,063,100 ounces underground while the total inferred gold resource is 1,071,060 ounces.

Historic drilling data was also used, particularly in conjunction with the open pit and the Upper Boundary Zone.

One highlight which was intersected was an 18.3 metre stretch with grades of 7.06 grams of gold per tonne.

Ken Stowe, president and chief executive officer at Northgate, said: "I am very pleased that after only ten months of drilling, we are already two thirds of the way towards our goal of doubling the underground resource base at Young-Davidson.

"With another 50,000 metres of surface based exploration drilling scheduled for 2007, I am confident that we will surpass our initial resource goal well before we begin underground definition drilling in late 2007."

He added that the firm's 2006 exploration programme had clearly demonstrated that the Young-Davidson property contains at least one multi-million ounce mineralised system.

 

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