More gold for Northgate in Victorian mine
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14 September 2009
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Hot on the heels of its success in its Stawell gold mine in Victoria, Canadian nickel and gold producer Northgate announce continued exploration success at its Fosterville Gold mine in Victoria, two hours north of Melbourne.
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Drilling 300 metres south of previous drilling and 800 metres south of current reserves, Northgate discovered significant gold mineralization of 10.1 grams per tonne of gold over 6.6 metres, including 17.6 tonne of gold over 3.6 metres.
In addition to this discovery, Northgate also reported significant results from six diamond drill holes in the area located just south of existing reserves.
Northgate President and Chief Executive Officer, Ken Stowe, said recent exploration efforts at Fosterville continue to deliver excellent results.
“In the Phoenix Deeps, our 300m step out has hit an excellent intercept and reaffirms the exceptional exploration potential that is present at the mine. In addition, the continuity of mineralization in the Phoenix Extension down plunge from existing reserves is significant, as it indicates the potential to extend reserves that can be mined using the existing infrastructure from the current production zone,” he said.
Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. The company is forecasting record gold production of over 380,000 ounces in 2009 and is targeting growth through further acquisition opportunities in stable mining jurisdictions around the world. |
