NovaGold financing (January 02, 1989)

According to a feasibility study completed by Kilborn Ltd., an engineering consulting firm, the Murray Brook deposit hosts reserves of 1.69 million tons of rock capable of supporting a 15,000-oz gold-silver operation per year. Located in New Brunswick, the mine has a 5-year life.

Mining will be via an open pit with processing in a vat leach plant. Construction is expected to be completed by late summer, McConnell says.

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