NGF norton gold fields limited

This story is unfolding rather nicely Country Writer, I'm...

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    This story is unfolding rather nicely Country Writer, I'm repeating it, it is old news, but it is now in action.
    It's also very exciting as a holder of this stock.

    " The first area of focus will be the Border-Gidji Project area which intersects the highly prospective Boulder-Lefroy structural corridor.

    This structural corridor has already provided the world class 70 million ounce Golden Mile (Super Pit), St Ives and Paddington deposits "


    Thursday, November 03, 2011 by Angela Kean


    Norton Gold Fields (ASX: NGF) plans to exploit the gold potential of its Paddington operations through a A$37 million investment in exploration and resource development programs over the next two years.

    Commencing in January next year, the programs will target newly defined resources of 300,000 ounces from open mineralised extensions, and progress an additional 700,000 ounces to the point of mine development.

    Norton holds a tenement package comprising 693 square kilometres within the Kalgoorlie Goldfields region, one of the prime gold provinces globally.

    The Paddington operations currently have a resource of 5.9 million ounces of gold, including a ore reserve of 1.1 million ounces.

    Norton produces in excess of 150,000 ounces of gold per year from the Paddington operations.

    The $37 million budget will allow the company to advance several known, higher grade deposits, all within a 50 kilometre radius of the 3.3 million tonnes per annum Paddington Mill, into the mine life.

    Significantly, it is the first time since acquiring the Paddington Operations in 2007 that Norton will have engaged in any greenfields exploration on its tenement package.

    The first area of focus will be the Border-Gidji Project area which intersects the highly prospective Boulder-Lefroy structural corridor.

    This structural corridor has already provided the world class 70 million ounce Golden Mile (Super Pit), St Ives and Paddington deposits
 
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