NovaGold hits high grade at Donlin Creek

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

Initial results from the stepout program, directly south of the Acma deposit, include the following:

q Hole 859 — nine significant intervals, including 31.6 metres grading 7.4 grams gold per tonne and 34 metres of 5.6 grams.

q Hole 860 — 20.3 metres grading 7.9 grams gold.

q Hole 861 — 16 metres 6.4 grams gold, 30 metres of 9 grams and 15.5 metres of 4.5 grams.

q Hole 863 — eight significant intervals, including 15.4 metres of 6.3 grams gold, 41 metres of 6.1 grams, and 26.2 metres of 5.9 grams.

q Hole 864 — seven significant intervals, including 27.2 metres running 4.2 grams gold, 12 metres grading 7.8 grams, and 22 metres of 3.6 grams.

Additional assays are pending.

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

Additionally, 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 near-surface mineralization at Akivik is connected continuously to the Acma pit, 1 km to the north.

Earlier this past summer, reverse-circulation drilling north of Akivik returned high gold values. Hole DR-668 cut 4.6 metres grading 7.2 grams gold per tonne, whereas 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 spending commitment required for NovaGold to earn a 70% stake in the Donlin Creek project from Placer Dome (PDG-T). The company says it expects to acquire its stake later 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 four core drill rigs and one reverse-circulation rig on-site. An interim resource estimate is expected soon.

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, or4.4 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 and facility sites, and road construction have begun. Environmental baseline studies for mine permitting are also under way.