NovaGold Resources Ord Shs T.NG

Alternate Symbol(s): NG

Metals & Mining Gold

NOVAGOLD Resources Inc. is a precious metals company, which is focused on the development of its 50%-owned Donlin Gold project in Alaska. The Donlin Gold project is a development-stage gold project. The Donlin Gold property is located in the Kuskokwim region of southwestern Alaska on private, Alaska Native-owned mineral and surface land and Alaska state mining claims. The Donlin Gold deposits are situated at approximately 62-degree North latitude and 158-degree West longitude, which is 450 kilometers (km) west of Anchorage and 250 km northeast of Bethel up the Kuskokwim River. The project is held by Donlin Gold LLC (Donlin Gold), which is owned 50% by the Company's wholly owned subsidiary, NOVAGOLD Resources Alaska Inc., and 50% by Barrick Gold Corporation's wholly owned subsidiary, Barrick Gold U.S. Inc.

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NovaGold Resources Ord Shs

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Post by Banffstockeron Feb 04, 2009 7:04pm

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Post# 15752967

BAECON ROCK REASERCH

Beacon Rock Research, LLC
NovaGold Resources Inc. (AMEX: NG) has nearly 22 million ounces of gold (plus 4.5 billion pounds of copper and 62
million ounces of silver) in the Measured and Indicated classification. Barrick Gold Corporation (NYSE: ABX) should complete a Feasibility Study on the Donlin Creek project, in a 50-50 joint venture with NovaGold, in early 2009, which should advance much of the 32 million ounces of in-pit Measured and Indicated resource into reserves. Donlin Creek is one of the world’s greatest undeveloped gold deposits. In 2007, drill hole DH-1556 intersected 299 meters grading 5.26 g/t (1,573 gram-meters) and DH-1564 intersected 308 meters grading 4.60 g/t (1,417 gram-meters). NovaGold’s other assets include the world-class Galore Creek polymetalic project and the Rock Creek gold mine. Based on NovaGold’s share of Donlin Creek alone, at $45 per ounce (less than one half previous conservative acquisition levels), NovaGold may be valued at more than $6 per share not including its other assets.

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