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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
| Filed by Automated Filing Services Inc. (604) 609-0244 |
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 February 6, 2003 NovaGold Resources Inc. reported that core drilling on the Rock Creek Property continued to intercept high-grade gold mineralization within the Albion zone and in the surrounding stockwork vein mineralization.
Formal bids for a comprehensive independent Preliminary Economic Assessment Study and new updated Resource Estimate at Rock Creek have been accepted. The final selection of an independent engineering firm will be completed this month with the study anticipated to be complete by June 2003.
NovaGold is also initiating a preliminary economic evaluation of restarting mining on the company's wholly owned Nome Gold project in Nome, Alaska. This evaluation will look at the opportunity to add significant value to the Company’s current sand-and-gravel operations by integrating a combined gravity gold recovery along with the processing of sand-and-gravel from the higher grade portions of the deposit.
Item Five - Full Description of Material Change
On February 6, 2003 NovaGold Resources Inc. reported that core drilling on the Rock Creek Property continued to intercept high-grade gold mineralization within the Albion zone and in the surrounding stockwork vein mineralization.
Drill highlights include: Hole 101 with 34.0 meters grading 1.61 g/t gold, including 2 meters at 17.09 g/t; Hole 102 with 61.0 meters grading 1.50 g/t, including 4 meters at 5.12 g/t, Hole 105 with 88.0 meters grading 1.27 g/t, including 10 meters at 5.49 g/t; Hole 115 with 8 meters grading 3.55 g/t and 12 meters grading 4.03 g/t; and Hole 116 with 116.3 meters grading 1.73 g/t, including 16 meters grading 3.05 g/t and a separate interval of 28 meters grading 4.60 g/t.
Formal bids for a comprehensive independent Preliminary Economic Assessment Study and new updated Resource Estimate at Rock Creek have been accepted. The final selection of an independent engineering firm will be completed this month with the study anticipated to be complete by June 2003.
NovaGold is also initiating a preliminary economic evaluation of restarting mining on the company's wholly owned Nome Gold project in Nome, Alaska. This evaluation will look at the opportunity to add significant value to the Company’s current sand-and-gravel operations by integrating a combined gravity gold recovery along with the processing of sand-and-gravel from the higher grade portions of the deposit.
Final 2002 Rock Creek Drill and Trench Program Results Received
NovaGold and TNR Resources have received the final assay results from the 2002 Drill and Trench program on the million-ounce Rock Creek project in Nome, Alaska. This drill program was designed to expand the extent of the known gold resource and to complete in-fill core drilling along the higher-grade Albion Zone of the deposit.
The exploration program began in September and was concluded in December 2002. The drill program consisted of 16 HQ core holes totaling 1182 meters (3878 feet) which successfully intersected the targeted shallow high-grade Albion zone and surrounding vein mineralization. The gold grades within these drill holes confirm previous results, but are drilled at closer spacing with the intent of upgrading the resource to the higher measured and indicated categories. The objectives of this program included: 1) to delineate additional near-surface, high grade resources adjacent to the modeled pit boundaries, 2) increase the drill density in the area of currently defined resources and 3) to test some of the gold-in-soil targets outside of the known resource area.
These programs were successful in meeting these objectives. The 2002 programs were the first step in upgrading the known resource, additional infill drilling will be necessary to advance the resource status prior to final mine design, permitting and construction. The drilling also extended the overall mineralized zone to over 1.5 kilometers in strike. The system remains open along strike and down dip and there remains excellent potential to continue to expand the extent of the higher-grade Albion Zone, as well as to discover new zones with further drilling.
Drill highlights from the program include: drill hole 101 with 34.0 meters grading 1.61 g/t gold, including 2 meters at 17.09 g/t; Hole 102 with 61.0 meters grading 1.50 g/t, including 4 meters at 5.12 g/t, Hole 105 with 88.0 meters grading 1.27 g/t, including 10 meters at 5.49 g/t; drill hole 115 where the entire 105 meter hole averaged 0.86 g/t and included 8 meters grading 3.55 g/t
with a separate interval of 12 meters grading 4.03 g/t gold; and drill hole 116 which averaged 116 meters grading 1.73 g/t from top to bottom, including 16 meters grading 3.05 g/t with a separate interval of 28 meters grading 4.60 g/t gold.
Initial trenching on a broad gold-in-soil anomaly, located approximately 300 meters south of the modeled pit, exposed a zone of stockwork veining and disseminated sulfide mineralization. Follow-up work is planned to evaluate the potential within this newly identified area. Several other nearby soil anomalies also hold significant potential for similar styles of mineralization and will be targeted for work in 2003.
A table entitled "Rock Creek New Drill Results Highlights" was included in the press release.
Drill holes 106, and 108-111 were all peripheral exploration holes that encountered significant alteration and sulfide mineralization but only slightly anomalous gold results.
Rock Creek Independent Economic Assessment Study Underway
Formal bids for a comprehensive independent Preliminary Economic Assessment Study and new updated Resource Estimate at Rock Creek have been accepted. The final selection of an independent engineering firm will be completed this month with the study anticipated to be complete by June 2003. This study will further refine the economic operating parameters for the deposit and define the scope of work for additional exploration and engineering studies to be initiated as part of the Feasibility work to begin in the spring of 2003.
The Preliminary Economic Assessment Study will also review the previously completed metallurgical testwork at Rock Creek and make further recommendations for the Feasibility program. A series of bench and pilot-plant metallurgical tests have been completed on representative samples from the Rock Creek Deposit at McClelland Laboratories Inc. of Reno, Nevada. The results of these studies showed that gold recovery from sheeted veins, which constitute 65% of the resource, showed an average of 86% recovery using gravity only with cyanidation of tails resulting in a total of 98% recovery. Gold recovery from shear veins, which constitute 35% of the resource, averaged 87% total recovery using gravity and cyanidation of the tails. Overall recovery is anticipated may exceed 93%.
An updated resource estimate will be completed with the drilling from 2002. The current resource estimate is based on work completed by NovaGold, Kennecott, Newmont and Placer Dome at Rock Creek since 1986. The total Measured and Indicated Resource at Rock Creek is 555,000 ounces grading 2.74 g/t gold with an additional Inferred Resource of 303,000 ounces of gold grading 2.78 g/t using a 1 g/t cut-off grade. At the adjacent Saddle deposit there is an additional Inferred Resource of 260,000 ounces of gold grading 2.61 g/t gold using a 1 g/t cut-off grade.
The Rock Creek deposit is located on the Seward Peninsula near the community of Nome, Alaska. The deposit is the most advanced lode-gold deposit in the Nome Mining District that has historically produced over 5.5 million ounces of gold from the nearby stream and beach placer deposits.
The property is road-accessible and located on private-patented land, which is expected to result in facilitated permitting. The deposit is exposed at the surface and amenable to open-pit mining with a low strip ratio. At the currently envisioned production levels, the potential annual gold production would likely be in excess of 100,000 ounces per year.
NovaGold owns a 100% interest in the Rock Creek Project and is the operator. TNR Resources is funding US$10 million in exploration and development before June 1, 2005 to bring the project to production and earn a 49.9% interest in the project from NovaGold.
The drill program and sampling protocol are managed by NovaGold with oversight provided by Qualified Person Phil St. George, Vice President of Exploration and Project Manager for NovaGold Resources. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C., Canada.
Nome Gold Project Economic Evaluation Initiated
With the increased price of gold, NovaGold is also initiating a preliminary economic evaluation of restarting mining on the company's wholly owned Nome Gold project in Nome, Alaska. This evaluation will look at the opportunity to add significant value to the Company’s current sand-and-gravel operations by integrating a combined gravity gold recovery circuit with the processing of sand-and-gravel from the higher grade portions of the deposit.
The company has also initiated a preliminary economic assessment to evaluate potential opportunities to increase the current capacity for shipping bulk sand-and-gravel from the Port of Nome. Both of these initiatives are directed at a continued focus to increase cash flow from the company’s Nome, Alaska operations.
About NovaGold
A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold is well financed, has 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 10th day of February, 2003 at Halifax, Nova Scotia by Janice A. Stairs, Corporate Secretary.
 |
News Release | Toronto Stock Exchange:
NRI U.S. OTC Symbol: NVGLF |
Rock Creek Final 2002 Drill Results Reported
February 6th, 2003, Vancouver – NovaGold Resources Inc.
Highlights
Final 2002 Rock Creek Drill and Trench Program Results Received
NovaGold and TNR Resources have received the final assay results from the 2002 Drill and Trench program on the million-ounce Rock Creek project in Nome, Alaska. This drill program was designed to expand the extent of the known gold resource and to complete in-fill core drilling along the higher-grade Albion Zone of the deposit.
The exploration program began in September and was concluded in December 2002. The drill program consisted of 16 HQ core holes totaling 1182 meters (3878 feet) which successfully intersected the targeted shallow high-grade Albion zone and surrounding vein mineralization. The gold grades within these drill holes confirm previous results, but are drilled at closer spacing with the intent of upgrading the resource to the higher measured and indicated categories. The objectives of this program included: 1) to delineate additional near-surface, high grade resources adjacent to the modeled pit boundaries, 2) increase the drill density in the area of currently defined resources and 3) to test some of the gold-in-soil targets outside of the known resource area.
These programs were successful in meeting these objectives. The 2002 programs
were the first step in upgrading the known resource, additional infill drilling
will be necessary to advance the resource status prior to final mine design,
permitting and construction. The drilling also extended the overall mineralized
zone to over 1.5 kilometers in strike. The system remains open along strike
and down dip and there remains excellent potential to continue to expand the
extent of the higher-grade Albion Zone, as well as to discover new zones with
further drilling.
Drill highlights from the program include: drill hole 101 with 34.0 meters grading 1.61 g/t gold, including 2 meters at 17.09 g/t; Hole 102 with 61.0 meters grading 1.50 g/t, including 4 meters at 5.12 g/t, Hole 105 with 88.0 meters grading 1.27 g/t, including 10 meters at 5.49 g/t; drill hole 115 where the entire 105 meter hole averaged 0.86 g/t and included 8 meters grading 3.55 g/t with a separate interval of 12 meters grading 4.03 g/t gold; and drill hole 116 which averaged 116 meters grading 1.73 g/t from top to bottom, including 16 meters grading 3.05 g/t with a separate interval of 28 meters grading 4.60 g/t gold.
Initial trenching on a broad gold-in-soil anomaly, located approximately 300 meters south of the modeled pit, exposed a zone of stockwork veining and disseminated sulfide mineralization. Follow-up work is planned to evaluate the potential within this newly identified area. Several other nearby soil anomalies also hold significant potential for similar styles of mineralization and will be targeted for work in 2003.
“We are very pleased with the results from this most recent program. With the recent increase in the price of gold we are excited to move forward with an independent economic assessment study for the Rock Creek project,” says Rick Van Nieuwenhuyse, President and CEO of NovaGold. “We believe that there remains excellent potential for significant resource expansion of the Rock Creek deposit and possible development of other deposits within the district controlled by NovaGold that could be rapidly advanced to become high-quality, low-cost mines.”
Rock Creek New Drill Results Highlights
| Length | Gold | Length | Gold | Type | Objective | |||||||||
| DHID | Interval (m) | (m) | (g/t) | (ft) | (oz/t) | |||||||||
| RKDCO2-101 | 46 to 80 | 34.0 | 2.61 | 111.5 | 0.08 | Core | In-Fill Definition | |||||||
| Including | 70 to 72 | 2.0 | 17.09 | 6.6 | 0.50 | |||||||||
| RKDC02-102 | 8 to 48 | 40.0 | 2.22 | 131.2 | 0.07 | Core | In-Fill Definition | |||||||
| Including | 32 to 48 | 16.0 | 3.38 | 52.5 | 0.10 | |||||||||
| RKDCO2-103 | 3.1 to 44 | 40.9 | 2.22 | 134.2 | 0.07 | Core | In-Fill Definition | |||||||
| Including | 26 to 44 | 18.0 | 4.32 | 59.1 | 0.13 | |||||||||
| And | 42 to 44 | 2.0 | 18.89 | 6.6 | 0.53 | |||||||||
| RKDC02-104 | 2.2 to 93.3 | 91.1 | 0.87 | 298.9 | 0.03 | Core | In-Fill Definition | |||||||
| Including | 24 to 48 | 24.0 | 1.96 | 78.7 | 0.06 | |||||||||
| And | 34 to 46 | 12.0 | 3.46 | 39.4 | 0.10 | |||||||||
| RKDCO2-105 | 5.4 to 94 | 88.6 | 1.27 | 290.7 | 0.04 | Core | In-Fill Definition | |||||||
| Including | 10 to 42 | 32.0 | 2.71 | 105.0 | 0.08 | |||||||||
| Including | 12 to 22 | 10.0 | 5.49 | 32.8 | 0.16 | |||||||||
| And | 76 to 82 | 6.0 | 2.29 | 19.7 | 0.07 | |||||||||
| RKDC02-112 | 6 to 12 | 6.0 | 3.44 | 19.7 | 0.10 | Core | In-Fill Definition | |||||||
| RKDC02-113 | 6 to 64 | 58.0 | 0.32 | 190.3 | 0.01 | Core | In-Fill Definition | |||||||
| RKDC02-114 | 8 to 12 | 4.0 | 3.49 | 13.1 | 0.10 | Core | In-Fill Definition | |||||||
| 34 to 36 | 2.0 | 4.22 | 6.6 | 0.12 | ||||||||||
| RKDC02-115 | 30 to 38 | 8.0 | 3.55 | 26.2 | 0.10 | Core | In-Fill Definition | |||||||
| 54 to 56 | 12.0 | 4.03 | 39.4 | 0.12 | ||||||||||
| RKDC02-116 | 0 to 116.3 | 116.3 | 1.73 | 381.6 | 0.05 | Core | In-Fill Definition | |||||||
| including | 16 to 32 | 16.0 | 3.05 | 52.5 | 0.09 | |||||||||
| and | 62 to 90 | 28.0 | 4.6 | 91.9 | 0.13 | |||||||||
| RKDC02-107 | 22 to 24 | 2.0 | 2.59 | 6.6 | 0.08 | Core | Exploration |
Drill holes 106, and 108-111 were all peripheral exploration holes that encountered significant alteration and sulfide mineralization but only slightly anomalous gold results.
Rock Creek Independent Economic Assessment Study Underway
Formal bids for a comprehensive independent Preliminary Economic Assessment Study and new updated Resource Estimate at Rock Creek have been accepted. The final selection of an independent engineering firm will be completed this month with the study anticipated to be complete by June 2003. This study will further refine the economic operating parameters for the deposit and define the scope of work for additional exploration and engineering studies to be initiated as part of the Feasibility work to begin in the spring of 2003.
The Preliminary Economic Assessment Study will also review the previously completed metallurgical testwork at Rock Creek and make further recommendations for the Feasibility program. A series of bench and pilot-plant metallurgical tests have been completed on representative samples from the Rock Creek Deposit at McClelland Laboratories Inc. of Reno, Nevada. The results of these studies showed that gold recovery from sheeted veins, which constitute 65% of the resource, showed an average of 86% recovery using gravity only with cyanidation of tails resulting in a total of 98% recovery. Gold recovery from shear veins, which constitute 35% of the resource, averaged 87% total recovery using gravity and cyanidation of the tails. Overall recovery is anticipated may exceed 93%.
An updated resource estimate will be completed with the drilling from 2002. The current resource estimate is based on work completed by NovaGold, Kennecott, Newmont and Placer Dome at Rock Creek since 1986. The total Measured and Indicated Resource at Rock Creek is 555,000 ounces grading 2.74 g/t gold with an additional Inferred Resource of 303,000 ounces of gold grading 2.78 g/t using a 1 g/t cut-off grade. At the adjacent Saddle deposit there is an additional Inferred Resource of 260,000 ounces of gold grading 2.61 g/t gold using a 1 g/t cutoff grade.
The Rock Creek deposit is located on the Seward Peninsula near the community of Nome, Alaska. The deposit is the most advanced lode-gold deposit in the Nome Mining District that has historically produced over 5.5 million ounces of gold from the nearby stream and beach placer deposits.
The property is road-accessible and located on private-patented land, which is expected to result in facilitated permitting. The deposit is exposed at the surface and amenable to open-pit mining with a low strip ratio. At the currently envisioned production levels, the potential annual gold production would likely be in excess of 100,000 ounces per year.
NovaGold owns a 100% interest in the Rock Creek Project and is the operator. TNR Resources is funding US$10 million in exploration and development before June 1, 2005 to bring the project to production and earn a 49.9% interest in the project from NovaGold.
The drill program and sampling protocol are managed by NovaGold with oversight provided by Qualified Person Phil St. George, Vice President of Exploration and Project Manager for NovaGold Resources. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C., Canada.
Nome Gold Project Economic Evaluation Initiated
With the increased price of gold, NovaGold is also initiating a preliminary economic evaluation of restarting mining on the company's wholly owned Nome Gold project in Nome, Alaska. This evaluation will look at the opportunity to add significant value to the Company’s current sand-and-gravel operations by integrating a combined gravity gold recovery circuit with the processing of sand-and-gravel from the higher grade portions of the deposit.
The company has also initiated a preliminary economic assessment to evaluate potential opportunities to increase the current capacity for shipping bulk sand-and-gravel from the Port of Nome. Both of these initiatives are directed at a continued focus to increase cash flow from the company’s Nome, Alaska operations.
About NovaGold
A diversified natural resource company, NovaGold acquires and develops precious metal deposits in North America. NovaGold is well financed, has 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
(360) 766-7102
E-mail: Greg.Johnson@NovaGold.net
Don MacDonald, CA, Sr Vice President and CFO
Vancouver, B.C., Canada
(604) 669-6227
E-mail: Don.MacDonald@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 | ||
|---|---|---|---|---|
 | ||||
| 6/1/05 | None on these Dates | |||
| Filed on: | 10/29/03 | |||
| 2/6/03 | ||||
| List all Filings | ||||