Three machines drilling on NovaGold’s property

Toronto-listed NovaGold Resources Inc. has put a third drill on its 32-claim Fifteen Mile Stream gold property located 60 miles northeast of Halifax, N.S.

“Our geophysical surveys indicate the Plenty zone extends an additional 1,200 ft to our western boundary,” says Gerald J. McConnel, president.

Since drilling on the property began in the summer of 1986, NovaGold has put down 42 holes, delineating the Plenty zone for a distance of 1,950 ft.

Two deep holes, targeted to intersect the deposit at a depth of 1,350 ft are planned in the current drilling program.

Gold on the property occurs as free grains within or adjacent to numerous quartz carbonate veins which average one to five inches wide but locally can attain widths of six feet or more.

Seven holes drilled on the Plenty Zone have intersected economic concentrations of gold over mineable widths. They are: Hole Intersection Grade (ft) (oz/ton) N-10 22.0 0.164 N-23 33.60 0.140 N-29 6.45 0.179

6.00 0.133 N-33 9.75 0.471 N-34 8.40 0.647 N-42 6.00 0.337