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Northgate Minerals
Initiates Drill Program at the Awakening Gold Project, Nevada
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
("km2") 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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