Northgate Mineral reports its found a bigger gold reserve at its Young-Davidson project at Matachewan in northeastern Ontario.
The Vancouver mid-tier miner posted a new proven mineral reserve of underground and open pit potential at the former producing mine, 60 km west of Kirkland Lake.
The Young-Davidson property now shows a 1.6 million ounce increase to a total measured and indicated resources underground of 3.0 million ounces of gold at an average grade of 3.62 grams per tonne (g/t). Inferred resources have increased by more than 300,000 ounces to 748,000 ounces at an average grade of 3.39 g/t. Open pit indicated resources now total 5.0 million tonnes at an average grade of 1.7 g/t containing 270,000 ounces of gold.
An underground ramp was completed in early December down to a vertical depth of 483 metres. In 2009, Northgate will continue to work on acquiring permits and development work to keep the mine de-watered.
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