We have another positive release from NOVAGOLD for Gold mining in Alaska. Now the Gold price above $1,300 should bring interest back to this safe mining jurisdiction and TNR Gold Shotgun Gold project.
TNR Gold: Shotgun Gold Project Fact Sheet January 2015.
We had the major news for Alaska Gold mining industry from our neighbours last year - Donlin Gold is moving forward! NOVAGOLD and TNR Gold were developing Shotgun Gold project together and in 2010 our company has consolidated the project and now owns 100% of it. NOVAGOLD has received TNR Gold's shares and warrants. Greg Johnson - one of the founders of NOVAGOLD has joined TNR Gold board after our very impressive results from the drilling program in the Fall 2012. Please watch the video to find out his personal statement: Read more."
"The mineralization style observed at Shotgun Ridge bears a strong resemblance to the 40 million ounce deposit at the Donlin Gold project operated by Barrick and NovaGold," stated recently appointed director Greg Johnson, "The similar age and host intrusive rocks suggest that, with continued exploration, there is significant potential to locate larger volumes of mineralization in and around Shotgun Ridge."
NOVAGOLD:
NOVAGOLD Marks 2014 by Reaching Important Milestones in Advancing Permitting of Donlin Gold and Strengthening Stakeholder Relationships
- Donlin Gold moved beyond the halfway mark in the permitting process with the Army Corps of Engineers (the Corps) completing the initial draft of the Environmental Impact Statement (EIS)
- Owners of Donlin Gold secured key agreements related to the project's surface rights and formed important alliances aimed at protecting Alaska's fish and wildlife
- NOVAGOLD sustained its strong financial position with approximately $165 million in cash and term deposits, sufficient to advance Donlin Gold through permitting, fund activities at Galore Creek and repay the remaining balance on its convertible notes
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 28, 2015) - NOVAGOLD RESOURCES INC. (TSX:NG)(NYSE MKT:NG) today released its year-end financial results and project update for its flagship 50%-owned Donlin Gold project in Alaska and its 50%-owned Galore Creek project in British Columbia.
Details of the Company's financial results for the year ended November 30, 2014 are presented in the consolidated financial statements and in the annual report filed on Form-10K with the SEC that will be available on the Company's website at www.novagold.com, on SEDAR at www.sedar.com, and on EDGAR at www.sec.gov. All amounts are in U.S. dollars unless otherwise stated and all resource and reserve estimates are shown on a 100% project basis.
In 2014, NOVAGOLD achieved the following:
- Significantly advanced permitting of Donlin Gold:
- Development of alternatives for the EIS completed by the Corps, the project's lead permitting agency
- The Corps also finalized initial chapters of the Donlin Gold draft EIS
- Donlin Gold made submissions of information requested by the Corps for the draft EIS
- Extended Donlin Gold Surface Use Agreement with The Kuskokwim Corporation (TKC) which now coincides with Calista Corporation's ("Calista") Exploration and Mining Lease and covers the entire projected mine life
- Formed important alliance with the National Fish and Wildlife Foundation's (NFWF) Alaska Fish and Wildlife Fund to protect, conserve and restore Alaska's fish and wildlife
- Built upon extensive local outreach efforts in Alaska:
- Held informational meetings in numerous villages in the Yukon-Kuskokwim region where the Donlin Gold project is located
- Funded youth educational programs, resources and camps
- Sponsored, participated and volunteered in numerous state-wide and local events
- Maintained a strong financial position with total spending 14% lower than budget in 2014
President's Message
We made excellent progress in 2014, setting the stage to continue to advance Donlin Gold up the value chain. Significant headway was achieved in five key areas: firstly, the Corps, with the collaboration of the cooperating agencies and Donlin Gold, successfully advanced permitting activities on budget and on schedule: completing the alternatives development for the EIS, submitting all related-party comments and finalizing the initial chapters of the draft EIS; secondly, we extended the Donlin Gold Surface Use Agreement with TKC for the entire project mine life; thirdly, we announced a new partnership with the NFWF alliance on the Alaska Fish and Wildlife fund to protect, restore, and conserve Alaska's fish and wildlife, a truly unique partnership; fourthly, we carried out extensive outreach efforts and sponsorship initiatives in Alaska; and lastly, we continued to reduce expenditures, spending 14% less than we budgeted for 2014. Our commitment to conserve cash affords us the flexibility to fund Donlin Gold studies and activities through permitting and up to a record of decision, to support Galore Creek technical studies, as well as meet our other financial obligations. These are particularly meaningful achievements, considering the challenging market environment we live in. This progress positions Donlin Gold as one of the few major gold projects that could be shovel-ready as we successfully complete the permitting process and market conditions improve. Read more."
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