>>>Good stock going forward IMO if they get the permits. Politically safe, long mine life, copper and gold etc.<<<
Hi Tom,
Fwiw, I think the old "money talks" syndrome will come into play if Kemess North gets substantially "richer" and result in the permitting being approved regardless of the First Nations objections to using Duncan Lake for the waste materials.
I have no doubts that if push comes to shove (the $$$ being right), an alternative location will be found for it.
Northgate Confirms the Presence of a Substantial New Mineralized System 300 Meters East of Kemess North
Thursday November 24, 6:41 pm ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 24, 2005--Northgate Minerals Corporation (TSX:NGX - News; AMEX:NXG - News) is pleased to announce that the two follow-up exploration drill holes to KN-05-24 (press release September 26, 2005) on the Kemess North Offset target both intersected substantial thicknesses of similar gold and copper mineralization.
Ken Stowe CEO of Northgate commented: "These intersections confirm the continuity and scale of the mineralized system we discovered earlier this year and suggest that it is a robust system that has considerable size potential. The structural information provided by the drilling and the nature of the mineralization itself points to an area to the west of these three holes, within which we will explore for the fault offset of the high-grade core of Kemess North. The system is also open to the south and east and block faulting may have moved a portion of the system much closer to surface. This potential is clearly demonstrated in KN-05-28 where stronger gold-copper mineralization was intersected 200 metres and 400 metres closer to surface than in holes KN-05-24 and 27 respectively. As a result of this year's exploration success, we are planning a 30,000 metre - $US 2.5 million drill program for 2006 in the Kemess North Offset and Kemess East areas."
Summary of Kemess North Offset Exploration in 2005
During the August - October period, a total of five holes were drilled in the area to the east of the Kemess North deposit in search of the faulted off extension the deposit. Hole KN-05-24 intersected a new mineralized zone (announced on September 26, 2005) and subsequent to this discovery two follow up holes were drilled which also intersected substantial thicknesses of gold-copper mineralization. Interval results from these holes are shown in Table 1 and drill hole collar locations are listed in Table 2.
Table 1 - Assay results from KN-05-27 and KN-05-28
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From To Width Gold Copper
Hole No. (metres) (metres) (metres) (Grams/tonne) (%)
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KN-05-27 926 1,232.9 306.9 0.21 0.21
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Including 1,232.9 146.9 0.30 0.27
1086
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KN-05-28 576 1,083.6 507.6 0.21 0.18
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Including 1,046 256 0.30 0.23
790
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Including 1,040 126 0.41 0.27
914
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Table 2 - Table of Drill Hole Collar Co-Ordinates
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East- North- Eleva- Azi-
Hole_ID Nad83E Nad83N ing ing tion muth Dip T Depth
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KN-05-24 637076 6326427 11133 16093 1709 90 -85 1,029.6
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KN-05-27 637076 6326518 11136 16183 1702 0 -90 1,232.9
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KN-05-28 637076 6326518 11139 16183 1702 120 -80 1,083.6
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As illustrated in Figure 1, the holes are located east of the East Bounding Fault and south of the North Bounding Fault. The cross sectional view of the drill area (Figure 2) shows that the mineralization is at a lower elevation than the Kemess North deposit. The hole separation is approximately 50 metres east to west and 60 metres north to south. These separations are somewhat less than planned as a result of natural deviation of the drill string.
To view the maps accompanying this press release please click on the following links:
Figure 1: ccnmatthews.com
Figure 2: ccnmatthews.com
The results of Northgate's 2005 exploration program were reviewed, verified and compiled by Northgate's geological staff that includes a qualified person, Carl Edmunds, P. Geo. for the purpose of National Instrument 43-101. Northgate employs a rigorous quality control, quality assurance program. Assays for the program were completed at ALS Chemex in North Vancouver, BC. The copper analyses were completed by atomic absorption spectrometry (AAS), following a triple acid digestion. Gold analyses were completed by standard one assay ton fire assay with AAS finish.
Northgate Minerals Corporation is a gold and copper mining company focused on operations and opportunities in the Americas. The Corporation's principal assets are the 300,000-ounce per year Kemess South mine in north-central British Columbia, the adjacent Kemess North deposit, which contains a Proven and Probable Reserve of 4.1 million ounces of gold and the Young-Davidson property in northern Ontario with a total resource base of 1.5 million ounces of gold. Northgate is listed on the Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange under the symbol NXG.
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