UPDATE: Northgate Minerals Up Nearly 5% as Announces Positive Preliminary Assessment for its Kemess Underground Project
Northgate Minerals Corporation (NGX.TO) jumped up to 5% early Tueasday after announcing positive results from the NI 43-101 Preliminary Assessment Report for its 100% owned Kemess Underground Project located in north-central British Columbia, approximately five kilometres from the Kemess South mine. The results from the Preliminary Assessment outline the development of an underground block/panel cave operation with average annual production of 95,000 ounces of gold at a below-industry cash cost of US$115 per ounce over a mine-life of approximately 12 years.
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