NovaGold Resources Inc. (NYSE : NG) is pleased to announce results from a 10,000 meter resource infill drilling program on the 50%-owned Galore Creek property located in the Territory of the Tahltan Nation in North Western British Columbia, Canada.
The Galore Creek property is held by a partnership owned equally by wholly-owned subsidiaries of NG and Teck Resources Limited and managed by Galore Creek Mining Corporation . NG announced the results of the Pre-Feasibility study on the Galore Creek project (the “Pre-Feasibility Study”) by news release dated July 27, 2011.
The 2011 campaign confirmed previous drill results produced by GCMC as well as the potential for substantial extension of chalcopyrite and bornite mineralization beyond the current limits of the 528Mt Reserve Pits provided for in the Pre-Feasibility Study.
During
the second half of 2011, GCMC completed a series of exploration holes, designated as GC11-0819 to 0836, to test for upgrading and possible extensions of mineralization within the South Gold Lens and Bountiful areas of the Central Pit. The objectives of the program were twofold:
1) To complete the drilling required to potentially support an upgrading of the Inferred resources to a Measured and Indicated classification within a +700Mt “Enhanced Plan” Pit that was identified during Pre-Feasibility; and
2) To complete the drilling required to prepare a new resource estimate to support future Feasibility-level mine planning and design.
Read more: http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/novagold-resources-new-drill-results-at-galore-creek-ng/22122#ixzz1oKmxqb00
The Galore Creek property is held by a partnership owned equally by wholly-owned subsidiaries of NG and Teck Resources Limited and managed by Galore Creek Mining Corporation . NG announced the results of the Pre-Feasibility study on the Galore Creek project (the “Pre-Feasibility Study”) by news release dated July 27, 2011.
The 2011 campaign confirmed previous drill results produced by GCMC as well as the potential for substantial extension of chalcopyrite and bornite mineralization beyond the current limits of the 528Mt Reserve Pits provided for in the Pre-Feasibility Study.
During
the second half of 2011, GCMC completed a series of exploration holes, designated as GC11-0819 to 0836, to test for upgrading and possible extensions of mineralization within the South Gold Lens and Bountiful areas of the Central Pit. The objectives of the program were twofold:
1) To complete the drilling required to potentially support an upgrading of the Inferred resources to a Measured and Indicated classification within a +700Mt “Enhanced Plan” Pit that was identified during Pre-Feasibility; and
2) To complete the drilling required to prepare a new resource estimate to support future Feasibility-level mine planning and design.
Read more: http://thestockmarketwatch.com/stock-market-news/recent-events/business-news/novagold-resources-new-drill-results-at-galore-creek-ng/22122#ixzz1oKmxqb00
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