Donlin Gold progresses with future development
Prospects continue to favor devel- opment of the Donlin Gold project, based on summer drilling work as well as progress on permitting. NovaGold Resources Inc. has re- leased its 2021 third quarter financial results and an update on its Tier One Donlin Gold project (“Donlin Gold” or the “project”), which NOVAGOLD owns equally with Barrick Gold Cor- poration (“Barrick”). Third-Quarter and Subsequent Period Highlights n Donlin Gold LLC Board ap- proved an additional $3 million in 2021 to advance studies and increase staffing in preparation for the new feasibility study. n Expanded 2021 Donlin Gold drill program, consisting of 79 holes to- taling approximately 24,200 meters, is nearing completion. The owners
reported initial assay results from 29 holes (18 complete, 11 partial) encom- passing approximately 7,500 meters of length drilled. The program has been enormously rewarding, yielding significant new high-grade intercepts in ACMA and an area between the ACMA and Lewis deposits (“Divide”) that point toward the potential feeder zones of this large system. Additional assay results will be released to the market as they become available. n With all key Federal and most key State permits in hand, Donlin Gold continued to advance additional State permits, including receipt of fi - nal 12 water rights permits. The Alas- ka Department of Natural Resources Commissioner’s Office completed its review of a reconsideration request and upheld the natural gas pipeline State right-of-way agreement and
lease authorization. n NOVAGOLD received $75 mil- lion from Newmont Corporation, fur- ther strengthening its already robust treasury. NOVAGOLD’s third quar- ter cash and term deposits totaled $173.3 million. An additional pay- ment of $25 million from Newmont comes due in 2023. In August, Donlin Gold enhanced its Community and Workforce Pro- tection Plan to ensure the safety and well-being of its workforce, employ- ees’ families, and local communities for the remainder of the 2021 field season. Employees and contractors are subject to mandatory COVID-19 testing prior to traveling to camp as well as upon arrival. Donlin Gold employed a local workforce from 20 Yukon-Kuskok- wim (Y-K) communities for the 2021
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14
The Alaska Miner
Fall 2021
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