Northgate Minerals and Nevada Exploration Sign Formal Option Agreement on the Awakening Gold Project
Awakening Gold Project
The Awakening Gold Project consists of 420 claims (approximately 34km2) and is located 50km NNW of
The Property is largely covered by a thin veneer of alluvium, and as a result, has seen little historic exploration activity. In 2005, NGE’s regional groundwater chemistry reconnaissance program identified anomalous levels of gold and other trace metals in the groundwater north of the Sleeper Mine. In 2008 and 2009, NGE completed detailed gravity geophysics, air magnetic geophysics, and soil geochemistry across the Property. The combined exploration dataset has identified several high priority targets analogous to the geologic units controlling the mineralization at the Sleeper Gold Mine.
Prior to its first drill program in early 2011, Northgate anticipates that it will carry out an induced polarization survey as well as additional soil and water geochemical sampling to further define drill targets.
Further information on the Awakening Gold Project can be found under the Exploration section on Northgate’s website at www.northgateminerals.com.
Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in
Nevada Exploration Inc. is an exploration company focused on gold in
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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 estimated 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
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SOURCE Northgate Minerals Corporation