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FEASIBILITY STUDY NEWS Kemess North Report Due this Summer

BRITISH COLUMBIA Newly-christened NORTHGATE MINERALS CORP. (formerly Northgate Exploration) of Vancouver has move...



BRITISH COLUMBIA Newly-christened NORTHGATE MINERALS CORP. (formerly Northgate Exploration) of Vancouver has moved an estimated 4.1 million oz of gold into reserves at its Kemess North deposit. The probable reserve now stands at 414 million tonnes grading 0.31 g/t Au and 0.16% Cu. Recoverable metals are estimated to be 2.6 million oz of gold and 1.3 billion lb of copper.

With those figures the life of the Kemess operation, including the Kemess South mine and mill, will be extended to 2020. The revised Kemess North pre-feasibility study pictures three phases of operation. During 2004-06 Kemess South will produce an average of 310,000 oz of gold/year at a cash cost of $118/oz; during 2007-09 when both Kemess pits are in operation, gold production will average 288,000 oz/year at a cash cost of $141 per ounce; and during 2010-20 average production will be 208,000 oz/year at an average cash cost of $181/oz. Total capital expenditures for development in 2005-06 are estimated to be $160 million. The final feasibility study will be completed in the summer of 2004.

Development of the Kemess North infrastructure will begin in 2005 and pre-stripping in 2006. Four 240-t haul trucks, two dozers, two graders and a small pit wall drill will be added to the equipment fleet. A primary crusher and a truck maintenance facility will be built at the Kemess North pit. A third SAG/ball milling circuit and a new tailings impoundment area are also planned. Complete particulars of the revised pre-feasibility study are available in the news release of May 7 on the company’s web site, www.NorthgateExploration.ca.


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