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VANCOUVER, October 18, 2004 - Canasil Resources Inc. (Canasil, TSXV: CLZ) and Northgate Minerals Corporation (Northgate, TSX: NGX; AMEX: NXG) announce the results of the 2004 drill program at the Brenda Gold-Copper project, located in the Kemess - Toodoggone district in north central British Columbia, Canada. Five drill holes were completed for a total of 1,446 metres between July and September 2004. These holes tested the northern and southern extensions, along strike and at depth, of mineralized zones observed in the 2003 drill program in the White Pass zone.
Significant results from the drill program are noted below and a map showing drill collar locations is attached:
|
Hole # |
NAD83_N |
NAD83_E |
Final |
From |
To |
Core Length m |
Au |
Cu |
|
BR-04-10 |
6347906 |
628490 |
353.6 |
91.4 |
251 |
159.6 |
0.411 |
0.038 |
|
263 |
346 |
83 |
0.496 |
0.021 | ||||
|
Including: |
331 |
346 |
15 |
0.888 |
0.032 | |||
|
BR-04-11 |
6347504 |
628414 |
128 |
Abandoned due to adverse ground - No significant assays | ||||
|
BR-04-12 |
6347518 |
628602 |
225.6 |
65.5 |
103.6 |
38.1 |
0.362 |
0.091 |
|
108.2 |
128 |
19.8 |
0.539 |
0.080 | ||||
|
131.1 |
144.8 |
13.7 |
0.346 |
0.097 | ||||
|
153.9 |
169.2 |
15.3 |
0.285 |
0.072 | ||||
|
BR-04-13 |
6347850 |
628680 |
287.4 |
18.3 |
35.1 |
16.8 |
0.141 |
0.032 |
|
42.7 |
64 |
21.3 |
0.122 |
0.033 | ||||
|
79.2 |
97.1 |
17.9 |
0.120 |
0.038 | ||||
|
191 |
235 |
44 |
0.145 |
0.014 | ||||
|
BR-04-14 |
6348006 |
628426 |
451.1 |
142 |
156 |
14 |
0.601 |
0.017 |
|
343.1 |
448 |
104.9 |
0.399 |
0.031 | ||||
|
Including: |
418.4 |
442 |
23.6 |
0.755 |
0.029 | |||
|
* For Composite calculations under-limits assays (<0.005 g/t) have been assigned the value 0.002 g/t | ||||||||
The mineralized intersections observed in drilling to date confirm that significant gold bearing mineralization occurs in the White Pass zone over the tested strike length of 520 metres and to a depth of 451 metres. Gold mineralization is reasonably evenly distributed and averages in the range of 0.4 - 0.5 g/t Au. However the degree of intrusive dilution, the overall grades and structural dissection appear to present challenges for development of an economic open-pit ore deposit in the area tested at the White Pass zone. As a result Northgate has terminated the option and joint venture agreement signed with Canasil on July 31, 2002, for the Brenda project.
The Brenda property claims are currently in good standing to May 2014. Canasil will review the detailed results and recommendations from Northgate for further exploration and development of the property in order to evaluate and pursue future opportunities for continued exploration of the Brenda project.
The BRENDA property comprises 178 mineral claim units, covering 44.0 square kilometres, and is situated approximately 25 km northwest of Northgate's Kemess South Mine in the core of the Kemess - Toodoggone porphyry gold-copper / epithermal district.
The results of the 2004 program have been 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, B.C.
About Northgate:
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 mine in north-central British Columbia and the adjacent Kemess North deposit, which contains a Proven and Probable Reserve of 4.1 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.
About Canasil:
Canasil is a Canadian-based mining and mineral exploration company with interests in base and precious metal properties in British Columbia, Canada, and Durango State, Mexico. The Company is reviewing a number of other gold and silver properties in Mexico. The management team is focused on identifying and implementing strategies to increase the value of the Company's mineral properties through cost effective and responsible development.
********
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-Looking Statements
This press release includes certain "forward-looking statements" within the meaning of section 21E of the United States Securities Exchange Act of 1934, as amended. These forward-looking statements include estimates, forecasts, and statements as to management's expectations with respect to, among other things, future metal production and production costs, potential mineralization and reserves, exploration results, progress in the development of mineral properties, demand and market outlook for commodities and future plans and objectives of Northgate Minerals Corporation (Northgate). Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," or "continue" or the negative thereof or variations thereon or similar terminology. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management are inherently subject to significant business, economic and competitive uncertainties and contingencies. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Northgate's expectations are disclosed under the heading "Risk Factors" in Northgate's 2003 Annual Report and under the heading "Trends, Risks and Uncertainties" in Northgate's 2003 Annual Information Form (AIF) both of which are filed with Canadian regulators on SEDAR (www.sedar.com) and with the United States Securities and Exchange Commission (www.sec.gov). Northgate expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Contacts:
For further information, please contact:
Mr. Bahman Yamini Mr. Ken G. Stowe
President and CEO President and CEO
Canasil Resources Inc. Northgate Minerals Corporation
604-709-0109 416-216-2772
www.canasil.com www.northgateminerals.com
