ALASKA NOVAGOLD RESOURCES of Vancouver has received official authorization and begun gold production at the Rock Creek open pit mine and mill near Nome. State regulators have approved the company's plans to ramp up production and begin placing tailings in the storage facility.
Upon achieving full commercial production, the Rock Creek mine is expected to produce approximately 100,000 oz of gold annually with life-of-mine cash costs estimated at US$500/oz. At current metal prices, NovaGold anticipates generating $25 million to $35 million in cash flow from Rock Creek on a yearly basis.
NovaGold has been mining and stockpiling ore, and there are close to 450,000 tonnes of ore ready to be milled. That amount represents two months of production at full throughput.
Extensive photo galleries of Rock Creek as well as NovaGold's other projects are posted at www.NovaGold.com.
Comments