Northgate Minerals Initiates Drill Program at the Awakening Gold Project, Nevada
VANCOUVER, June 23, 2011 /CNW/ --
VANCOUVER, June 23, 2011 /CNW/ - 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 ('km(2)') 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).
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Ms. Keren R. Yun
Director, Investor Relations, Northgate Minerals Corporation
Tel: 416-216-2781
Email: ngx@northgateminerals.com Website: www.northgateminerals.com