- Novagold (NYSEMKT:NG) and Barrick Gold (NYSE:ABX) announce that co-owned Donlin Gold is advancing a gold project in Alaska through a drill program designed to further optimize the project.
- Novagold and Barrick concluded that the potential exists to enhance the project economics through a more cost-effective project execution plan that could substantially reduce upfront capital. As a result, the partners have approved an $8M budget (100% basis) for a drill program designed to collect geologic and geotechnical data this year.
- The companies say that they are encouraged to see significant progress as they work through the final stages of permitting and completing the activities in the most efficient manner possible.
- “Donlin Gold’s size, grade, production profile, exploration potential, mine life, community support and jurisdictional safety render it a unique asset in the gold industry. Both partners envision Donlin Gold to be a pacesetter in the mining sector and are completely aligned in their objectives to optimize the project," says Novagold CEO Greg Lang.
- Source: Press Release
- Now read: Barrick Gold: The Lowest Point
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