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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
| NR30Jan03 |
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 January 30, 2003, NovaGold Resources Inc. reported that final core drilling continued to intercept high-grade gold mineralization outside of the Acma deposit and within the Akivik, Aurora and 400 Zones. A final comprehensive resource estimate will be completed jointly with Placer Dome and is targeted for completion in March.
Drill highlights include: Hole 870 with 56 meters grading 7.36 g/t gold, Hole 878 with 16.3 meters grading 13.31 g/t, Hole 887 with 19.2 meters grading 8.77 g/t, and Hole 941 with 19.3 meters grading 9.24 g/t and 25 meters grading 7.29 g/t gold.
Placer Dome to make an option decision on the project by mid-February. NovaGold and Placer Dome are jointly funding the current US$3.0 million program during the decision period.
Item Five - Full Description of Material Change
On January 30, 2003, NovaGold Resources Inc. reported that final core drilling continued to intercept high-grade gold mineralization outside of the Acma deposit and within the Akivik, Aurora and 400 Zones. A final comprehensive resource estimate will be completed jointly with Placer Dome and is targeted for completion in March.
Drill highlights include: Hole 870 with 56 meters grading 7.36 g/t gold, Hole 878 with 16.3
meters grading 13.31 g/t, Hole 887 with 19.2 meters grading 8.77 g/t, and Hole 941 with 19.3 meters grading 9.24 g/t and 25 meters grading 7.29 g/t gold.
Placer Dome to make an option decision on the project by mid-February. NovaGold and Placer Dome are jointly funding the current US$3.0 million program during the decision period.
Final 2002 Drill Results Complete, Comprehensive Resource Estimate in Progress
NovaGold completed its most recent program of delineation core drilling at Donlin Creek in December of 2002. The in-fill drilling was designed to upgrade the new resource areas to a minimum 50 meter by 50 meter drill spacing in preparation for a new comprehensive Resource Estimate targeted for completion with Placer Dome in March of 2003. The latest round of drilling continued to intersect significant gold mineralization that is expected to expand the current resource. The drilling is also expected to 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. The resources in these areas are anticipated to be included within the new modeled pit outlines that will be used for the Pre-Feasibility study expected to be completed by mid-year.
The current assay results include numerous excellent intercepts from the South Acma area including DC02-870 with 7 significant zones including 20 meters grading 5.3 g/t and 56 meters grading 7.36 g/t gold. Also from the East Acma area drill hole DC02-878 intersected 3 significant mineralized zones including 16.3 meters grading 13.31 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. Additional highlights from the Akivik target area include DC02-887 with 19.2 meters grading 8.77 g/t gold and DC02-941 with 19.3 meters grading 9.24 g/t and 25 meters grading 7.29 g/t gold. (The press release referred here to tables included in the release.)
During the 2002 drill 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.
The drill program and sampling protocol were managed by NovaGold with oversight provided by Phil St. George, Vice President of Exploration and Project Manager for NovaGold. 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 hole location maps showing the Donlin Creek target areas are available for download on the NovaGold website at the following link: www.novagold.net/s/ProjectsIndex.asp.
Tables entitled, "New Donlin Creek Summary Drill Results (Acma, Akivik and 400 Zone)" and "New Donlin Creek Summary Drill Results (Aurora)" were included in the release.
Second Phase Optimizing Metallurgical Studies Initiated
In December 2002, the Company reported very encouraging test results from Newmont Metallurgical Services’ patented N2TEC flotation process on representative mineralized intrusive and sedimentary from Donlin Creek. These test results showed improved flotation gold recoveries from intrusive and sediment hosted ores compared to the average recovery figures used in the March 2002 Preliminary Economic Assessment Study.
Hazen Labs of Denver, Colorado has initiated a second series of metallurgical studies to further look at process optimization. These programs consist of additional ore characterization and refinement of bench-scale batch conventional flotation, N2TEC flotation, pressure oxidation and cyanidation test work. The results of these tests will help establish the optimum technical and economic approach to maximize gold recoveries. The results of the tests to date confirm the results of previous studies by Placer Dome and show that continued improvement of overall gold recovery is achievable through process optimization. These improved test results will be used for the recovery projections and process flow-sheet in the Pre-Feasibility Study due mid-year and will determine the parameters for subsequent continuous pilot-plant work in the Feasibility stage.
Placer Dome to Make Option Decision in Mid-February
NovaGold earned a 70% interest in the Donlin Creek Project with the underlying property owners Calista Corporation and the Kuskokwim Corporation by investing US$10 million in exploration and development on the project since March of 2001. With NovaGold’s vesting of a 70% interest into the Donlin Creek Project, Placer Dome and NovaGold established a joint venture to develop the project. NovaGold and Placer Dome have funded on a 70%/30% basis the current $3 million program to complete the updated resource estimate during the decision period.
Placer Dome has until mid-February 2003 to determine its future level of participation in the Donlin Creek Project and is considering one of the following options during this time:
| 1. | Placer Dome may continue to contribute
to the development of the Donlin project at a 30% participating interest
level with NovaGold remaining as operator at 70% ownership; or |
| 2. |
Placer Dome may choose to earn an additional
40% interest in the project in 5 years or less, by spending a minimum
of US$30 million toward project development, completing a project Feasibility
Study, and committing to build a mine that produces not less than 600,000
ounces of gold per year. Under this option Placer Dome would not earn
any incremental additional interest in the project above their current
30% level until all of the above conditions are met within the maximum
5 year timeframe. NovaGold would not be required to contribute any additional
funding up to the US$30 million and at NovaGold’s election Placer
Dome would assist with financing for any development costs exceeding US$30
million with NovaGold’s share of the development costs to be repaid
out of a portion of its future mine cash flow. |
Under either scenario, 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.
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 30th day of January, 2003 at Halifax, Nova Scotia by Janice A. Stairs, Corporate Secretary.
 |
News Release | Toronto Stock Exchange:
NRI U.S. OTC Symbol: NVGLF |
Final 2002 Drill Results Reported From Donlin
January 30th, 2003, Vancouver – NovaGold Resources Inc.
Highlights
Final 2002 Drill Results Complete, Comprehensive Resource Estimate in Progress
NovaGold completed its most recent program of delineation core drilling at Donlin Creek in December of 2002. The in-fill drilling was designed to upgrade the new resource areas to a minimum 50 meter by 50 meter drill spacing in preparation for a new comprehensive Resource Estimate targeted for completion with Placer Dome in March of 2003. The latest round of drilling continued to intersect significant gold mineralization that is expected to expand the current resource. The drilling is also expected to 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. The resources in these areas are anticipated to be included within the new modeled pit outlines that will be used for the Pre-Feasibility study expected to be completed by mid-year.
The current assay results include numerous excellent intercepts
from the South Acma area including DC02-870 with 7 significant zones including
20 meters grading 5.3 g/t and 56 meters grading 7.36 g/t gold. Also from the
East Acma area drill hole DC02-878 intersected 3 significant mineralized zones
including 16.3 meters grading 13.31 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. Additional highlights from the Akivik target
area include DC02-887 with 19.2 meters grading 8.77 g/t gold and DC02-941 with
19.3 meters grading 9.24 g/t and 25 meters grading 7.29 g/t gold. (See complete
tables below).
During the 2002 drill 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.
The drill program and sampling protocol were managed by NovaGold with oversight provided by Phil St. George, Vice President of Exploration and Project Manager for NovaGold. 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 hole location maps showing the Donlin Creek target areas
are available for download on the NovaGold website at the following link: www.novagold.net/s/ProjectsIndex.asp
| New Donlin Creek Summary Drill Results (Acma, Akivik and 400 Zone) | ||||||||||||||
| Length | Gold | Length | Gold | |||||||||||
| DHID | Interval(m) | (m) | (g/t) | (ft) | (oz/t) | Type | Area | |||||||
| DC02-870 | 74.0 to 80.1 | 6.1 | 6.40 | 20.0 | 0.19 | Core | Acma | |||||||
| DC02-870 | 181.3 to 196.0 | 14.7 | 3.51 | 48.2 | 0.10 | |||||||||
| DC02-870 | 222.0 to 254.0 | 32.0 | 3.56 | 105.0 | 0.10 | |||||||||
| DC02-870 | 300.0 to 356.0 | 56.0 | 7.36 | 183.7 | 0.21 | |||||||||
| DC02-870 | 386.0 to 406.0 | 20.0 | 5.32 | 65.6 | 0.16 | |||||||||
| DC02-870 | 420.0 to 436.0 | 16.0 | 3.79 | 52.6 | 0.11 | |||||||||
| DC02-870 | 468.0 to 481.0 | 13.0 | 4.07 | 42.7 | 0.12 | |||||||||
| DC02-878 | 52.0 to 56.0 | 4.0 | 5.64 | 13.1 | 0.16 | Core | Acma | |||||||
| DC02-878 | 155.8 to 172.0 | 16.3 | 13.31 | 53.3 | 0.39 | |||||||||
| DC02-878 | 218.0 to 226.4 | 8.4 | 3.96 | 27.7 | 0.12 | |||||||||
| DC02-882 | 85.5 to 116.9 | 31.4 | 5.42 | 103.0 | 0.16 | Core | Acma | |||||||
| DC02-882 | 166.5 to 182.3 | 15.8 | 6.84 | 51.8 | 0.20 | |||||||||
| DC02-883 | 22.8 to 26.9 | 4.1 | 7.13 | 13.5 | 0.21 | Core | Acma | |||||||
| DC02-949 | 90.5 to 104.0 | 13.5 | 5.42 | 44.2 | 0.16 | Core | Acma | |||||||
| DC02-885 | 253.6 to 290.9 | 37.3 | 4.02 | 122.2 | 0.12 | Core | Akivik | |||||||
| DC02-885 | 303.0 to 310.5 | 7.5 | 3.75 | 24.6 | 0.11 | |||||||||
| DC02-887 | 10.8 to 30.1 | 19.2 | 8.77 | 63.1 | 0.26 | Core | Akivik | |||||||
| DC02-905 | 65.0 to 85.0 | 20.0 | 3.02 | 65.6 | 0.09 | Core | Akivik | |||||||
| DC02-906 | 163.0 to 167.2 | 4.2 | 6.20 | 13.6 | 0.18 | Core | Akivik | |||||||
| DC02-908 | 84.4 to 92.0 | 7.6 | 3.05 | 24.9 | 0.09 | Core | Akivik | |||||||
| DC02-908 | 168.0 to 183.0 | 15.0 | 6.53 | 49.2 | 0.19 | |||||||||
| DC02-921 | 13.0 to 17.0 | 4.0 | 10.06 | 13.1 | 0.29 | Core | Akivik | |||||||
| DC02-921 | 117.7 to 121.4 | 3.7 | 12.98 | 12.2 | 0.38 | |||||||||
| DC02-923 | 163.0 to 168.0 | 5.0 | 9.77 | 16.4 | 0.28 | Core | Akivik | |||||||
| DC02-941 | 120.0 to 145.0 | 25.0 | 7.29 | 82.0 | 0.21 | |||||||||
| DC02-941 | 155.8 to 174.0 | 18.3 | 9.24 | 59.9 | 0.27 | Core | Akivik | |||||||
| DC02-942 | 106.3 to 120.2 | 13.9 | 6.36 | 45.4 | 0.19 | Core | Akivik | |||||||
| DC02-888 | 14.9 to 19.0 | 4.1 | 5.08 | 13.3 | 0.15 | Core | 400 Zone | |||||||
| DC02-889 | 63.0 to 71.0 | 8.0 | 3.69 | 26.2 | 0.11 | Core | 400 Zone | |||||||
| DC02-889 | 83.9 to 88.6 | 4.7 | 11.11 | 15.4 | 0.32 | |||||||||
| DC02-900 | 18.1 to 28.0 | 9.9 | 8.61 | 32.3 | 0.25 | Core | 400 Zone | |||||||
| DC02-911 | 59.1 to 81.9 | 22.7 | 6.06 | 74.5 | 0.18 | Core | 400 Zone | |||||||
| DC02-911 | 248.0 to 254.0 | 6.0 | 9.28 | 19.5 | 0.27 | |||||||||
| DC02-911 | 321.0 to 331.0 | 10.0 | 4.27 | 32.8 | 0.12 | |||||||||
| DC02-913 | 19.0 to 31.5 | 12.5 | 3.58 | 41.0 | 0.10 | Core | 400 Zone | |||||||
| DC02-913 | 38.0 to 50.1 | 12.1 | 8.42 | 39.6 | 0.25 | |||||||||
| DC02-913 | 116.0 to 132.0 | 16.0 | 5.31 | 52.5 | 0.15 | |||||||||
| DC02-937 | 103.8 to 127.0 | 23.2 | 4.47 | 76.2 | 0.13 | Core | 400 Zone | |||||||
| DC02-939 | 5.2 to 10.0 | 4.8 | 5.93 | 15.8 | 0.17 | Core | 400 Zone | |||||||
| DC02-939 | 16.0 to 31.0 | 15.0 | 6.11 | 49.1 | 0.18 | |||||||||
| DC02-947 | 70.0 to 80.0 | 10.0 | 9.03 | 32.8 | 0.26 | Core | 400 Zone | |||||||
Table continued on following page.
| New Donlin Creek Summary Drill Results Continued (Aurora) | ||||||||||||||
| Length | Gold | Length | Gold | |||||||||||
| DHID | Interval(m) | (m) | (g/t) | (ft) | (oz/t) | Type | Area | |||||||
| DC02-879 | 95.0 to 107.0 | 12.0 | 3.19 | 39.4 | 0.09 | Core | Aurora | |||||||
| DC02-879 | 183.0 to 200.0 | 17.0 | 3.08 | 55.8 | 0.09 | |||||||||
| DC02-890 | 61.5 to 73.0 | 11.5 | 3.17 | 37.8 | 0.09 | Core | Aurora | |||||||
| DC02-891 | 114.0 to 115.2 | 1.2 | 31.85 | 3.9 | 0.93 | Core | Aurora | |||||||
| DC02-892 | 40.2 to 47.0 | 6.8 | 3.13 | 22.2 | 0.09 | Core | Aurora | |||||||
| DC02-892 | 50.0 to 54.0 | 4.0 | 6.53 | 13.1 | 0.19 | |||||||||
| DC02-892 | 137.0 to 149.0 | 12.0 | 3.55 | 39.4 | 0.10 | |||||||||
| DC02-894 | 113.0 to 124.6 | 11.6 | 6.98 | 38.2 | 0.20 | Core | Aurora | |||||||
| DC02-910 | 54.0 to 63.0 | 9.1 | 4.24 | 29.7 | 0.12 | Core | Aurora | |||||||
| DC02-910 | 93.0 to 103.0 | 10.0 | 5.09 | 32.8 | 0.15 | |||||||||
| DC02-910 | 145.5 to 153.0 | 7.6 | 3.92 | 24.8 | 0.11 | |||||||||
| DC02-915 | 204.0 to 212.6 | 8.6 | 3.78 | 28.3 | 0.11 | Core | Aurora | |||||||
| DC02-915 | 296.5 to 304.7 | 8.2 | 5.43 | 26.9 | 0.16 | |||||||||
| DC02-915 | 356.5 to 366.5 | 10.0 | 3.42 | 32.8 | 0.10 | |||||||||
| DC02-916 | 231.7 to 236.0 | 4.3 | 5.71 | 13.9 | 0.17 | Core | Aurora | |||||||
| DC02-916 | 314.0 to 319.0 | 5.0 | 5.19 | 16.4 | 0.15 | |||||||||
| DC02-916 | 383.9 to 390.0 | 6.1 | 3.45 | 20.0 | 0.10 | |||||||||
| DC02-917 | 33.0 to 40.3 | 7.3 | 4.51 | 24.0 | 0.13 | Core | Aurora | |||||||
| DC02-917 | 143.0 to 147.4 | 4.4 | 5.20 | 14.3 | 0.15 | |||||||||
| DC02-917 | 200.0 to 206.0 | 6.0 | 5.32 | 19.7 | 0.16 | |||||||||
| DC02-960 | 165.0 to 181.0 | 16.0 | 5.80 | 52.5 | 0.17 | Core | Aurora | |||||||
| DC02-960 | 230.0 to 240.0 | 10.0 | 5.46 | 32.8 | 0.16 | |||||||||
| DC02-961 | 98.0 to 116.0 | 18.0 | 6.80 | 59.1 | 0.20 | Core | Aurora | |||||||
| DC02-961 | 149.0 to 157.0 | 8.0 | 4.94 | 26.2 | 0.14 | |||||||||
| DC02-961 | 179.0 to 183.9 | 4.9 | 5.47 | 16.1 | 0.16 | |||||||||
| DC02-962 | 157.0 to 163.0 | 6.0 | 6.81 | 19.7 | 0.20 | Core | Aurora | |||||||
Second Phase Optimizing Metallurgical Studies Initiated
In December 2002, the Company reported very encouraging test results from Newmont Metallurgical Services’ patented N2TEC flotation process on representative mineralized intrusive and sedimentary from Donlin Creek. These test results showed improved flotation gold recoveries from intrusive and sediment hosted ores compared to the average recovery figures used in the March 2002 Preliminary Economic Assessment Study.
Hazen Labs of Denver, Colorado has initiated a second series of metallurgical studies to further look at process optimization. These programs consist of additional ore characterization and refinement of bench-scale batch conventional flotation, N2TEC flotation, pressure oxidation and cyanidation test work. The results of these tests will help establish the optimum technical and economic approach to maximize gold recoveries. The results of the tests to date confirm the results of previous studies by Placer Dome and show that continued improvement of overall gold recovery is achievable through process optimization. These improved test results will be used for the recovery projections and process flow-sheet in the Pre-Feasibility Study due mid-year and will determine the parameters for subsequent continuous pilot-plant work in the Feasibility stage.
Placer Dome to Make Option Decision in Mid-February
NovaGold earned a 70% interest in the Donlin Creek Project with the underlying property owners Calista Corporation and the Kuskokwim Corporation by investing US$10 million in exploration and development on the project since March of 2001. With NovaGold’s vesting of a 70% interest into the Donlin Creek Project, Placer Dome and NovaGold established a joint venture to develop the project. NovaGold and Placer Dome have funded on a 70%/30% basis the current $3 million program to complete the updated resource estimate during the decision period.
Placer Dome has until mid-February 2003 to determine its future level of participation in the Donlin Creek Project and is considering one of the following options during this time: 1) Placer Dome may continue to contribute to the development of the Donlin project at a 30% participating interest level with NovaGold remaining as operator at 70% ownership; or 2) Placer Dome may choose to earn an additional 40% interest in the project in 5 years or less, by spending a minimum of US$30 million toward project development, completing a project Feasibility Study, and committing to build a mine that produces not less than 600,000 ounces of gold per year. Under this option Placer Dome would not earn any incremental additional interest in the project above their current 30% level until all of the above conditions are met within the maximum 5 year timeframe. NovaGold would not be required to contribute any additional funding up to the US$30 million and at NovaGold’s election Placer Dome would assist with financing for any development costs exceeding US$30 million with NovaGold’s share of the development costs to be repaid out of a portion of its future mine cash flow.
Under either scenario, 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.
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 | ||
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| Filed on: | 10/29/03 | None on these Dates | ||
| 1/30/03 | ||||
| List all Filings | ||||