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Thursday, 27th December 2007 (2815 views)

Canadian mining company Northgate Minerals has announced that it has found bonanza-grade intercepts at its Young-Davidson (YD) property in northern Ontario.

The Vancouver-based firm reported that its best hole cut 46.80 grams per tonne of gold over 9.1 metres, located at 42B on the eastern flank of the Lower Boundary zone.

Other long intersections that have been discovered include hole 53, also in the Boundary zone but 100 metres west of the previous holes, which cut 80.8 metres of 2.68 grams per tonne and hole 50, on the western flank of the lower YD Zone, which cut 5.54 grams per tonne over 8.5 metres.

In November 2005, Northgate purchased the Young-Davidson property for $18 million (£9 million) with the site being the company's first significant project outside its Kerness gold mine in British Columbia.

YD is in its advanced exploration stage with Northgate hoping to have it back in production during 2010.

Northgate Minerals focuses on gold mining operations and opportunities in America with the company listed on both the Toronto Stock Exchange and the American Stock Exchange.

 

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