ALASKA - NOVAGOLD RESOURCES of Vancouver has released new numbers for an increased resource at its Donlin Creek gold project. The measured and indicated resources have grown 77% to 29.4 million oz of contained gold since the previous estimate was made in September 2006.
The Donlin Creek deposits contains 371.7 million tonnes of measured and indicated resources averaging 2.46 g/t Au. By far the largest part, 367.4 million tonnes, is in the indicated category. There is also an inferred resources of 46.5 million tonnes grading 2.31 g/t Au and containing an additional 3.46 million oz of gold.
The project is a 50:50 joint venture between NovaGold and BARRICK GOLD of Toronto. They hope to develop a high-grade open pit mine that will produce more than 1.0 million oz of gold annually. The technical team is working on project design and a detailed schedule for mine planning and permitting.
Further information about the Donlin Creek project may be found at either www.NovaGold.net or www.Barrick.com.