NovaGold drilling adds to Donlin Creek

Ongoing drilling by NovaGold Resources (NRI-T) at the Donlin Creek gold deposit in Alaska, has cut new high-grade gold mineralization within the modeled Acma pit.

Initial results from the 100-by-100-metre, step-out expansion drilling program directly south of the Acma deposit include:

• Hole 859 — which cut 9 significant intervals, including 31.6 metres grading 7.4 grams gold per tonne and 34 metres of 5.6 grams;
• Hole 860 — 20.3 metres grading 7.9 grams gold;
• Hole 861 16 metres 6.4, 30 metres of 9 grams and 15.5 metres of 4.5 grams;
• Hole 863 –which cut 8 significant intervals, including 15.4 metres of 6.3 grams, 41 metres of 6.1 grams and 26.2 metres of 5.9 grams; and
• Hole 864 which cut 7 significant intervals, including 27.2 metres running 4.2 grams, 12 metres grading 7.8 grams and 22 metres of 3.6 grams gold.

Additional assays are pending. The zone remains open.

NovaGold says the new mineralization will add significantly to the overall gold resource at Donlin Creek.

Additional follow-up drilling has cut more high-grade gold values between the new Akivik discovery and Acma. Hole 856 returned 6.9 metres grading 20.8 grams gold and hole 858 cut 3.9 metres of 12.6 grams gold and 7.7 metres of 3.9 grams gold. Further follow-up drilling is planned.

Drilling indicates that the near surface mineralization at Akivik is connected continuously to the modeled Acma pit, 1 km to the north.

Earlier this summer, reverse-circulation drilling north of Akivik returned high gold values. Hole DR-668 cut 4.6 metres grading 7.2 grams gold, while hole DR-752 intersected 9.1 metres of 9.85 grams gold. The zone remains open in all directions and lies outside the existing resource area.

The current drill program is part of US$10 million in spending required by NovaGold to earn a 70% stake in the Donlin Creek project from Placer Dome (PDG-T). The company figures it should acquire its stake sometime this month.

So far this year, 235 core and rotary holes have been drilled for 31,300 metres. Two new core drills have been added at the project to accelerate the prefeasibility drilling. Another 30,000 metres of drilling are planned by December. Right now there are 4 core drill rigs and 1 reverse circulation rig on site. An interim resource estimate update is due out this month.

Based on a cutoff grade of 3.5 grams gold, Donlin Creek’s measured and indicated resource amounts to 26.9 million tonnes grading 5.06 grams gold, or 4.4 million contained ounces. Another 36.8 million tonnes of 5.22 grams gold, or 6.2 million contained ounces, are classified as inferred material.

Mine engineering fieldwork, geotechnical studies on the tailings impoundment site, facility site, and road access to the property have begun. Environmental baseline studies for mine permitting have also begun.