Friday, 31st October 2008 (321 views)

Northgate Minerals has announced that it has produced "significant assay results" from a diamond drill programme in the Harrier Underground zone.

Formerly referred to as the Wirrawilla zone, the area is located south of the existing reserves at the Fosterville Gold mine in Victoria, Australia.

Northgate Minerals claimed to have discovered significant extensions to the mineralized zones at Fosterville through the latest drill programme, particularly in three north striking areas of gold mineralization.

The Osprey, Raptor and Harrier base fault zones collectively extend more than 500m along strike and 300m in vertical height and are located on the southern edge of the main Wirrawilla resource area.

Drill hole intercepts on the project averaged over 6.0 grams per tonne of gold and Ken Stowe, Northgate president and chief executive has stated that the company is "excited by the very positive drill results in the new Harrier Underground zone.

Vancouver-based Northgate Mining purchased the Fosterville Gold mine earlier this year and plans to complete an initial resource estimate for the area by the first quarter of 2009.

 

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