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As Of Filer Filing For·On·As Docs:Size Issuer Agent 10/29/03 Novagold Resources Inc 40FR12G 91:19M Newsfile Corp/FA |
Document/Exhibit Description Pages Size 1: 40FR12G Registration Statement Pursuant to Section 12 of HTML 79K the Securities Exchange Act of 1934 2: EX-99.1 Revised Initial Annual Information Form of the HTML 228K Registrant Dated July 22, 2003 11: EX-99.10 Quarterly Report of the Registrant for the Six HTML 137K Months Ended May 31, 2002 12: EX-99.11 Quarterly Report of the Registrant for the Three HTML 139K Months Ended February 28, 2002 13: EX-99.12 Management Information Circular of the Registrant HTML 101K Dated April 14, 2003 14: EX-99.13 Form of Proxy for Use in Connection With the May HTML 35K 28, 2003 Annual and Special Meeting 15: EX-99.14 Management Information Circular of the Registrant HTML 98K Dated April 15, 2002 16: EX-99.15 Form of Proxy for Use in Connection With the May HTML 33K 22, 2002 Annual and Special Meeting 17: EX-99.16 Final Short Form Prospectus Dated September 25, HTML 159K 2003 18: EX-99.17 Underwriting Agreement Dated September 15, 2003 HTML 221K 19: EX-99.18 Warrant Indenture Dated October 1, 2003 HTML 309K 20: EX-99.19 Report Dated August 13, 2003, as Amended September HTML 619K 22, 2003 3: EX-99.2 Annual Information Form of the Registrant Dated HTML 422K April 17, 2002 21: EX-99.20 Qualifying Certificate of Ken Kuchling Dated HTML 30K September 22, 2003 22: EX-99.21 Report Dated April 16, 2002 HTML 161K 23: EX-99.22 Qualifying Certificate of Curtis J. Freeman Dated HTML 29K April 16, 2002 24: EX-99.23 Report Dated April 15, 2002 HTML 88K 25: EX-99.24 Qualifying Certificate of Curtis J. Freeman Dated HTML 29K April 15, 2002 26: EX-99.25 Report Dated April 1, 2002 HTML 109K 27: EX-99.26 Qualifying Certificate of Curtis J. Freeman Dated HTML 29K April 1, 2002 28: EX-99.27 Report Dated March 2002 HTML 600K 29: EX-99.28 Qualifying Certificate of Stephen B. Hodgson Dated HTML 27K March 8, 2002 30: EX-99.29 Qualifying Certificate of Stephen Juras Dated HTML 28K March 8, 2002 4: EX-99.3 Annual Report of the Registrant for the Year Ended HTML 281K November 30, 2002 31: EX-99.30 Report Dated February 2002 HTML 264K 32: EX-99.30.A Appendix A of Report Dated February 2002 HTML 26K 33: EX-99.30.B Appendix B of Report Dated February 2002 HTML 1.29M 34: EX-99.30.C Appendix C of Report Dated February 2002 HTML 60K 35: EX-99.30.D Appendix D of Report Dated February 2002 HTML 25K 36: EX-99.31 Qualifying Certificate of Stephen Juras Dated HTML 28K February 25, 2002 37: EX-99.32 Material Change Report of the Registrant Dated HTML 33K October 24, 2003 38: EX-99.33 Press Release Dated October 23, 2003 HTML 31K 39: EX-99.34 Material Change Report of the Registrant Dated HTML 36K October 16, 2003 40: EX-99.35 Material Change Report of the Registrant Dated HTML 48K October 10, 2003 41: EX-99.36 Material Change Report of the Registrant Dated HTML 36K October 2, 2003 42: EX-99.37 Material Change Report of the Registrant Dated HTML 36K September 12, 2003 43: EX-99.38 Material Change Report of the Registrant Dated HTML 46K August 13, 2003 44: EX-99.39 Material Change Report of the Registrant Dated HTML 45K August 11, 2003 5: EX-99.4 Annual Report of the Registrant for the Year Ended HTML 294K November 30, 2001 45: EX-99.40 Material Change Report of the Registrant Dated HTML 63K August 7, 2003 46: EX-99.41 Material Change Report of the Registrant Dated HTML 39K July 30, 2003 47: EX-99.42 Material Change Report of the Registrant Dated HTML 42K July 3, 2003 48: EX-99.43 Material Change Report of the Registrant Dated HTML 59K June 4, 2003 49: EX-99.44 Material Change Report of the Registrant Dated May HTML 34K 1, 2003 50: EX-99.45 Material Change Report of the Registrant Dated HTML 46K April 28, 2003 51: EX-99.46 Material Change Report of the Registrant Dated HTML 47K April 9, 2003 52: EX-99.47 Press Release of the Registrant Dated February 25, HTML 30K 2003 53: EX-99.48 Material Change Report of the Registrant Dated HTML 44K February 11, 2003 54: EX-99.49 Material Change Report of the Registrant Dated HTML 70K February 6, 2003 6: EX-99.5 U.S. Gaap Reconciliation Which Includes Audited HTML 279K Comparative Financial Statements 55: EX-99.50 Material Change Report of the Registrant Dated HTML 92K January 30, 2003 56: EX-99.51 Material Change Report of the Registrant Dated HTML 37K December 30, 2002 57: EX-99.52 Material Change Report of the Registrant Dated HTML 72K December 11, 2002 58: EX-99.53 Material Change Report of the Registrant Dated HTML 55K November 26, 2002 59: EX-99.54 Material Change Report of the Registrant Dated HTML 65K November 14, 2002 60: EX-99.55 Material Change Report of the Registrant Dated HTML 70K October 3, 2002 61: EX-99.56 Material Change Report of the Registrant Dated HTML 37K September 19, 2002 62: EX-99.57 Material Change Report of the Registrant Dated HTML 54K September 13, 2002 63: EX-99.58 Press Release of the Registrant Dated September 9, HTML 28K 2002 64: EX-99.59 Material Change Report of the Registrant Dated HTML 35K September 5, 2002 7: EX-99.6 U.S. Gaap Supplement to Management Discussion and HTML 42K Analysis 65: EX-99.60 Material Change Report of the Registrant Dated HTML 80K September 4, 2002 66: EX-99.61 Material Change Report of the Registrant Dated HTML 51K August 7, 2002 67: EX-99.62 Material Change Report of the Registrant Dated HTML 74K July 16, 2002 68: EX-99.63 Material Change Report of the Registrant Dated HTML 57K June 5, 2002 69: EX-99.64 Material Change Report of the Registrant Dated May HTML 76K 22, 2002 70: EX-99.65 Material Change Report of the Registrant Dated HTML 43K April 30, 2002 71: EX-99.66 Material Change Report of the Registrant Dated HTML 42K April 18, 2002 72: EX-99.67 Material Change Report of the Registrant Dated HTML 37K March 26, 2002 73: EX-99.68 Material Change Report of the Registrant Dated HTML 78K March 15, 2002 74: EX-99.69 Material Change Report of the Registrant Dated HTML 56K February 18, 2002 8: EX-99.7 Quarterly Report of the Registrant for the Six HTML 110K Months Ended May 31, 2003 75: EX-99.70 Material Change Report of the Registrant Dated HTML 55K January 24, 2002 76: EX-99.71 Consent of Pricewaterhousecoopers LLP HTML 25K 77: EX-99.72 Consent of Ken Kuchling HTML 26K 78: EX-99.73 Consent of Curtis J. Freeman HTML 28K 79: EX-99.74 Consent of Stephen B. Hodgson HTML 27K 80: EX-99.75 Consent of Stephen Juras HTML 28K 81: EX-99.76 Consent of Phillip St. George HTML 29K 82: EX-99.77 Consent of Harry Parker HTML 27K 83: EX-99.78 Consent of Norm Johnson HTML 27K 84: EX-99.79 Consent of Norwest Corporation HTML 27K 9: EX-99.8 Quarterly Report of the Registrant for the Three HTML 121K Months Ended February 28, 2003 85: EX-99.80 Consent of Avalon Development Corporation HTML 27K 86: EX-99.81 Consent of Amec E&C Services Limited HTML 30K 87: EX-99.82 Consent of Kennecott Exploration Company HTML 26K 88: EX-99.83 Consent of Newmont Mining Corporation HTML 27K 89: EX-99.84 Consent of Placer Dome Inc. HTML 27K 90: EX-99.85 Consent of Mark Jutras HTML 27K 91: EX-99.86 Consent of Robert Prevost HTML 27K 10: EX-99.9 Quarterly Report of the Registrant for the Nine HTML 148K Months Ended August 31, 2002
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FORM 27
MATERIAL CHANGE REPORT
SECTION 75(2) OF SECURITIES ACT (ONTARIO),
SECTION 84(1)(b) OF THE SECURITIES ACT (SASKATCHEWAN),
SECTION 118(1) OF SECURITIES ACT (ALBERTA),
SECTION 67(1) OF SECURITIES ACT (BRITISH COLUMBIA),
SECTION 81(2) OF THE SECURITIES ACT (NOVA SCOTIA),
SECTION 76(2) OF SECURITIES ACT (NEWFOUNDLAND).
Item One - Reporting Issuer
NovaGold Resources Inc.
127 Via de Tesoros
Los Gatos, California 95032
Item Two - Date of Material Change
Item Three - Press Release
The attached press release was issued in Vancouver, British Columbia.
Item Four - Summary of Material Change
On December 11, 2002, NovaGold Resources Inc. reported that it had received a certificate of title from Placer Dome for the assignment of a 70% interest in the Donlin Creek exploration and mining lease agreement. Placer Dome will make an option decision on the project by mid-February. NovaGold and Placer Dome are jointly funding the current program during the decision period.
NovaGold also announced that follow-up core results continue to intercept high-grade gold mineralization south and east of the Acma deposit and south of the Aurora and 400 Zones. A final comprehensive resource estimate will be completed jointly with Placer Dome in February or March upon receipt of the final assays from this season’s drill program.
Optimization metallurgical testwork is now underway with Hazen Labs and Newmont Mining Corporation’s Metallurgical Services. Initial flotation optimization studies demonstrate improved recoveries using Newmont’s patented N2TEC technology.
Item Five - Full Description of Material Change
On December 11, 2002, NovaGold Resources Inc. reported that it had received a certificate of title from Placer Dome for the assignment of a 70% interest in the Donlin Creek exploration and mining lease agreement. Placer Dome will make an option decision on the project by mid-
February. NovaGold and Placer Dome are jointly funding the current program during the decision period.
NovaGold also announced that follow-up core results continue to intercept high-grade gold mineralization south and east of the Acma deposit and south of the Aurora and 400 Zones. A final comprehensive resource estimate will be completed jointly with Placer Dome in February or March upon receipt of the final assays from this season’s drill program.
Optimization metallurgical testwork is now underway with Hazen Labs and Newmont Mining Corporation’s Metallurgical Services. Initial flotation optimization studies demonstrate improved recoveries using Newmont’s patented N2TEC technology.
NovaGold Receives Title to 70% Interest in the Donlin Creek Project
NovaGold has received an assignment of title from Placer Dome for a 70% interest in the Donlin Creek exploration and mining lease agreements with the underlying property owners Calista Corporation and the Kuskokwim Corporation. NovaGold earned its 70% interest in the deposit by investing US$10 million in exploration and development of the Donlin Creek Project over the past 15 months. Placer Dome now has until mid-February 2003 to determine its future level of participation in the project (see previous NovaGold news release on November 26th 2002).
Under any of the option scenarios, NovaGold shareholders should see considerable added value as Donlin Creek’s gold resources continue to expand and as the project advances through Pre-Feasibility, Feasibility and into production at potentially over 1 million ounces of gold per year. At the currently envisioned production levels, NovaGold’s potential annual share of gold production would likely range from 200,000 to 400,000 ounces of gold per year.
2002 Drill Program Completed, Comprehensive Resource Estimate in Progress
The last of the delineation core drilling at Donlin Creek has been completed for the 2002 drill program. The in-fill drilling to upgrade the new resource areas continues to return excellent results. The gold mineralization intercepted during the fall program should add significant additional resource ounces to the previously released interim resource update. The drilling should also upgrade a significant portion of the new high-grade gold mineralization at the Akivik, Aurora, 400, Acma and South Acma zones to the Measured and Indicated resource categories. Following the receipt of the final drill assay results in January a comprehensive resource estimate will be completed jointly with Placer Dome in February or March of 2003.
Current results include very strong holes from the South Acma area including DC02-869 that intersected 5 significant zones including 19.9 meters grading 6.73 g/t, and DC02-870 with 4 significant zones including 62.0 meters grading 6.76 g/t gold. Results from the East Acma area included DR02-837 with 12.2 meters grading 6.75 g/t, DC02-878 with 16.3 meters grading 13.31 g/t, DC02-881 with 17.2 meters grading 6.21 g/t and DC02-882 with 31.4 meters grading 5.42 g/t gold. The results from both South and East Acma have significantly extended the known mineralization to depth and along the length of the system.
During the 2002 program, NovaGold completed 347 drill holes (195 core holes and 152 rotary holes) for a total of 51,009 meters (167,352 feet). This includes 39,158 meters (128,472 feet) of core drilling and 11,851 meters (38,880 feet) of rotary drilling in 2002. A table entitled "New Donlin Creek Summary Drill Results and Sample Protocol" was included in the press release.
The drill program and sampling protocol are managed by NovaGold with oversight provided by Phil St. George, Vice President of Exploration and Project Manager for NovaGold Resources. Database quality control and quality assurance standards are overseen by independent engineering firm AMEC E&C Services Limited of Vancouver. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C., Canada. Drill holes marked with an asterisk (*) indicate some final assays are still pending.
Drill hole location maps showing the Donlin Creek target areas are available for download on the NovaGold website at the following link:
http://www.novagold.net/s/Projects.asp?PropertyInfoID=880
Optimizing Metallurgical Studies in Progress, Excellent Initial Results Received
Since 1996 a series of comprehensive metallurgical test programs have been completed on the Donlin Creek deposit by Placer Dome Technical Services and several independent laboratories. These programs have demonstrated that gold recoveries in excess of 90% are achievable using conventional sulfide flotation concentration followed by oxidation of the concentrate and cyanidation for gold recovery. These metallurgical studies have included bench-scale grinding, flotation, pressure oxidation, bio-oxidation and carbon-in-leach (CIL) cyanidation recovery.
As part of the independent Preliminary Economic Assessment Study released March 2002, AMEC E&C Services Limited of Vancouver reviewed the previous metallurgical programs and identified a number of opportunities to enhance the overall gold recoveries through process optimization. These include optimizing the grind size, flotation recovery, and leaching recovering processes – particularly for the sediment hosted mineralization.
Based on the recommendations by AMEC, NovaGold has engaged Hazen Labs and Newmont Mining Corporation’s Metallurgical Services both of Denver, Colorado to complete a series of additional metallurgical studies to look at process optimization. These programs will consist of additional ore characterization and refinement of bench-scale batch flotation and pressure oxidation and cyanidation test work. The results of these tests will define the recovery projections and process flow-sheet for the Pre-Feasibility Study and for subsequent continuous pilot-plant work in the Feasibility stage.
Initial results from Newmont Metallurgical Services, using their patented N2TEC flotation process are very encouraging with recoveries from intrusive material averaging 96% and sediment hosted ore averaging 90%. These flotation recoveries confirm the results of previous studies by Placer Dome and represent an improvement over the average figures used in the March 2002 Preliminary Economic Assessment Study. Hazen Labs is currently completing other flotation optimization studies in parallel with the work being completed by Newmont. The
results of these studies will be evaluated in January to develop an optimal process flow-sheet and recoveries to be used in the Pre-Feasibility Study due mid-year.
About NovaGold
A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has over $20 million in cash, no debt, and one of the largest unhedged gold resource bases of any gold exploration company. The Company generates cash flow to fund exploration and development from its construction aggregate, gold royalties and land development operations in Nome, Alaska. Shares of NovaGold are listed on the Toronto Stock Exchange (symbol NRI). The Company’s shares also trade on the US OTC Market (symbol NVGLF). Annual and quarterly financial reports, news releases and other information are available online at: www.novagold.net.
Item Six - Reasons for Confidential Filing
Not Applicable.
Item Seven - Omitted Information
Not Applicable.
Item Eight - Senior Officer
Janice A. Stairs, Corporate Secretary, (902) 492-2013
Item Nine - Statement of Senior Officer
"The foregoing accurately discloses the material change referred to herein."
Executed this 11th day of December, 2002 at Halifax, Nova Scotia by Janice A. Stairs, Corporate Secretary.
News Release | Toronto Stock Exchange:
NRI U.S. OTC Symbol: NVGLF |
NovaGold Finishes 2002 Drilling At Donlin
December 11th, 2002, Vancouver – NovaGold Resources Inc.
Highlights
NovaGold Receives Title to 70% Interest in the Donlin Creek Project
NovaGold has received an assignment of title from Placer Dome for a 70% interest in the Donlin Creek exploration and mining lease agreements with the underlying property owners Calista Corporation and the Kuskokwim Corporation. NovaGold earned its 70% interest in the deposit by investing US$10 million in exploration and development of the Donlin Creek Project over the past 15 months. Placer Dome now has until mid-February 2003 to determine its future level of participation in the project (see previous NovaGold news release on November 26th 2002). Under any of the option scenarios, NovaGold shareholders should see considerable added value as Donlin Creek’s gold resources continue to expand and as the project advances through Pre-Feasibility, Feasibility and into production at potentially over 1 million ounces of gold per year. At the currently envisioned production levels, NovaGold’s potential annual share of gold production would likely range from 200,000 to 400,000 ounces of gold per year.
2002 Drill Program Completed, Comprehensive Resource Estimate in Progress
The last of the delineation core drilling at Donlin Creek has been completed for the 2002 drill program. The in-fill drilling to upgrade the new resource areas continues to return excellent results. The gold mineralization intercepted during the fall program should add significant additional resource ounces to the previously released interim resource update. The drilling should also upgrade a significant portion of the new high-grade gold mineralization at the Akivik, Aurora, 400, Acma and South Acma zones to the Measured and Indicated resource categories. Following the receipt of the final drill assay results in January a comprehensive resource estimate will be completed jointly with Placer Dome in February or March of 2003.
Current results include very strong holes from the South Acma area including DC02-869 that intersected 5 significant zones including 19.9 meters grading 6.73 g/t, and DC02-870 with 4 significant zones including 62.0 meters grading 6.76 g/t gold. Results from the East Acma area included DR02-837 with 12.2 meters grading 6.75 g/t, DC02-878 with 16.3 meters grading 13.31 g/t, DC02-881 with 17.2 meters grading 6.21 g/t and DC02-882 with 31.4 meters grading 5.42 g/t gold. The results from both South and East Acma have significantly extended the known mineralization to depth and along the length of the system.
During the 2002 program, NovaGold completed 347 drill holes (195 core holes
and 152 rotary holes) for a total of 51,009 meters (167,352 feet). This includes
39,158 meters (128,472 feet) of core drilling and 11,851 meters (38,880 feet)
of rotary drilling in 2002.
New Donlin Creek Summary Drill Results and Sample Protocol | ||||||||||||||
Length | Gold | Length | Gold | |||||||||||
DHID | Interval(m) | (m) | (g/t) | (ft) | (oz/t) | Type | Area | |||||||
DR02-837> | 70.1 to 82.3 | 12.2 | 6.75 | 40.0 | 0.20 | rotary | East Acma | |||||||
DC02-869 | 106.1 to 126.0 | 19.9 | 6.73 | 65.3 | 0.20 | Core | South Acma | |||||||
179.0 to 194.0 | 15.0 | 4.08 | 49.2 | 0.12 | Core | |||||||||
211.7 to 250.0 | 38.3 | 3.92 | 125.6 | 0.11 | Core | |||||||||
256.0 to 263.6 | 7.6 | 4.07 | 24.9 | 0.12 | Core | |||||||||
286.8 to 329.6 | 42.8 | 3.83 | 140.5 | 0.11 | Core | |||||||||
DC02-870 | 74.0 to 80.1 | 6.1 | 6.40 | 20.1 | 0.19 | Core | South Acma | |||||||
181.3 to 254.0 | 72.7 | 2.94 | 238.5 | 0.09 | Core | |||||||||
296.0 to 358.0 | 62.0 | 6.76 | 203.4 | 0.20 | Core | |||||||||
386.0 to 406.0 | 20.0 | 5.32 | 65.6 | 0.16 | Core | |||||||||
DC02-872 | 238.0 to 246.0 | 8.0 | 4.39 | 26.3 | 0.13 | Core | South Acma | |||||||
254.0 to 260.0 | 6.0 | 4.85 | 19.7 | 0.14 | Core | |||||||||
DC02-874 | 10.0 to 16.0 | 6.0 | 3.33 | 19.7 | 0.10 | Core | East Acma | |||||||
DC02-875 | 377.0 to 405.7 | 28.7 | 4.89 | 94.2 | 0.14 | Core | South Aurora | |||||||
DC02-878* | 52.0 to 56.0 | 4.0 | 5.64 | 13.1 | 0.16 | Core | East Acma | |||||||
155.8 to 172.0 | 16.3 | 13.31 | 53.3 | 0.39 | Core | |||||||||
218.0 to 226.4 | 8.4 | 3.96 | 27.7 | 0.12 | Core | |||||||||
DC02-879 | 6.5 to 9.0 | 2.5 | 5.84 | 8.2 | 0.17 | Core | South 400 | |||||||
46.0 to 48.0 | 2.0 | 6.91 | 6.6 | 0.20 | Core | |||||||||
95.0 to 107.0 | 12.0 | 3.19 | 39.4 | 0.09 | Core | |||||||||
183.0 to 189.0 | 6.0 | 4.99 | 19.7 | 0.15 | Core | |||||||||
DC02-881* | 104.0 to 121.2 | 17.2 | 6.21 | 56.43 | 0.18 | Core | East Acma | |||||||
134.4 to 138.0 | 3.6 | 4.32 | 11.81 | 0.13 | Core | |||||||||
164.0 to 168.0 | 4.0 | 10.32 | 13.12 | 0.30 | Core | |||||||||
DC02-882 | 85.5 to 116.9 | 31.4 | 5.42 | 103.02 | 0.16 | Core | East Acma | |||||||
DC02-887* | 27.5 to 30.1 | 2.6 | 7.28 | 8.56 | 0.21 | Core | North of Acma | |||||||
DC02-888* | 14.9 to 19.0 | 4.1 | 5.08 | 13.29 | 0.15 | Core | North of Acma | |||||||
DC02-889* | 69.0 to 71.0 | 2.0 | 9.46 | 6.56 | 0.28 | Core | North of Acma | |||||||
83.9 to 88.6 | 4.7 | 11.11 | 15.35 | 0.32 | Core | |||||||||
DC02-890 | 61.5 to 73.0 | 11.5 | 3.17 | 37.83 | 0.09 | Core | North Aurora | |||||||
104.0 to 108.1 | 4.1 | 3.61 | 13.29 | 0.11 | Core | |||||||||
153.0 to 155.0 | 2.0 | 9.63 | 6.56 | 0.28 | Core | |||||||||
DC02-891* | 57.6 to 61.0 | 3.4 | 4.27 | 11.09 | 0.12 | Core | North Aurora | |||||||
114.0 to 115.2 | 1.2 | 31.85 | 3.94 | 0.93 | Core | |||||||||
125.0 to 128.0 | 3.0 | 3.84 | 9.84 | 0.11 | Core | |||||||||
DC02-892* | 40.2 to 47.0 | 6.8 | 3.13 | 22.18 | 0.09 | Core | North Aurora | |||||||
50.0 to 54.0 | 4.0 | 6.53 | 13.12 | 0.19 | Core | |||||||||
137.0 to 149.0 | 12.0 | 3.55 | 39.37 | 0.10 | Core | |||||||||
DC02-893 | 107.7 to 115.0 | 7.3 | 2.95 | 23.85 | 0.09 | Core | North Aurora |
The drill program and sampling protocol are managed by NovaGold with oversight provided by Phil St. George, Vice President of Exploration and Project Manager for NovaGold Resources. Database quality control and quality assurance standards are overseen by independent engineering firm AMEC E&C Services Limited of Vancouver. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C., Canada. Drill holes marked with an asterisk (*) indicate some final assays are still pending.
Drill hole location maps showing the Donlin Creek target areas are available for download on the NovaGold website at the following link: http://www.novagold.net/s/Projects.asp?PropertyInfoID=880
Optimizing Metallurgical Studies in Progress, Excellent Initial Results Received
Since 1996 a series of comprehensive metallurgical test programs have been completed on the Donlin Creek deposit by Placer Dome Technical Services and several independent laboratories. These programs have demonstrated that gold recoveries in excess of 90% are achievable using conventional sulfide flotation concentration followed by oxidation of the concentrate and cyanidation for gold recovery. These metallurgical studies have included bench-scale grinding, flotation, pressure oxidation, bio-oxidation and carbon-in-leach (CIL) cyanidation recovery. As part of the independent Preliminary Economic Assessment Study released March 2002, AMEC E&C Services Limited of Vancouver reviewed the previous metallurgical programs and identified a number of opportunities to enhance the overall gold recoveries through process optimization. These include optimizing the grind size, flotation recovery, and leaching recovering processes –particularly for the sediment hosted mineralization.
Based on the recommendations by AMEC, NovaGold has engaged Hazen Labs and Newmont Mining Corporation’s Metallurgical Services both of Denver, Colorado to complete a series of additional metallurgical studies to look at process optimization. These programs will consist of additional ore characterization and refinement of bench-scale batch flotation and pressure oxidation and cyanidation test work. The results of these tests will define the recovery projections and process flow-sheet for the Pre-Feasibility Study and for subsequent continuous pilot-plant work in the Feasibility stage.
Initial results from Newmont Metallurgical Services, using their patented N2TEC flotation process are very encouraging with recoveries from intrusive material averaging 96% and sediment hosted ore averaging 90%. These flotation recoveries confirm the results of previous studies by Placer Dome and represent an improvement over the average figures used in the March 2002 Preliminary Economic Assessment Study. Hazen Labs is currently completing other flotation optimization studies in parallel with the work being completed by Newmont. The results of these studies will be evaluated in January to develop an optimal process flow-sheet and recoveries to be used in the Pre-Feasibility Study due mid-year.
About NovaGold
A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold has over $20 million in cash, no debt, and one of the largest unhedged gold resource bases of any gold exploration company. The Company generates cash flow to fund exploration and development from its construction aggregate, gold royalties and land development operations in Nome, Alaska. Shares of NovaGold are listed on the Toronto Stock Exchange (symbol NRI). The Company’s shares also trade on the US OTC Market (symbol NVGLF). Annual and quarterly financial reports, news releases and other information are available online at: www.novagold.net
For more information on NovaGold contact:
Greg Johnson, Vice President, Corporate Development
Bellingham, Washington, USA
(907) 227-3963 E-mail: Greg.Johnson@NovaGold.net
Tony Hayes, CFA, Investor Relations
Toronto, Ontario, Canada
(416) 368-0882; Toll Free 1 (866) 243-1059
E-mail: Tony.Hayes@NovaGold.net
This ‘40FR12G’ Filing | Date | Other Filings | ||
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Filed on: | 10/29/03 | None on these Dates | ||
12/11/02 | ||||
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