ALASKA – Donlin Creek, the most advanced of Vancouver-based NOVAGOLD RESOURCES’ gold projects in the southwestern part of the state, has estimated measured and indicated resources that contain 14.8 million oz of gold. The latest numbers represent a 33% increase in these categories, which now total 167.2 million tonnes at 2.76 g/t Au. Plus there are another 13.6 million oz of gold (156.0 million tonnes at 2.72 g/t Au) in the inferred category.
NovaGold holds a 70% interest in the Donlin Creek project, with PLACER DOME holding the rest. The prefeasibility study should be completed in mid-2006, and the feasibility drill program is to begin next month (Feb. 2006). NovaGold says the property contains one of the largest undeveloped gold resources in North America. The production rate could be over 1.0 million oz/year. Placer is the operator and can increase its interest to 70% by spending US$32 million on the project, completing a bankable feasibility study and making a positive production decision by November 2007.
Maps, photos and additional information about Donlin Creek are posted at www.NovaGold.net.