Novagold expands in western U.S.

With the recent acquisition of three key properties in the Steeple Rock mining district in New Mexico, Novagold Resources Nevada continues to expand its interests in the Western United States. Novagold Nevada, a unit of Novagold Resources (TSE), has acquired options on the Queenstake, Bilali, and Blue Bell claim groups surrounding its Summit gold-silver mine property. The Summit property contains drill inferred reserves of 1.2 million tons grading 19 oz. silver and 0.19 oz. gold per ton.

A drilling program conducted by Novagold’s joint venture partner, Biron Bay Resources (ASE), is under way on the Queenstake property. The Bilali claim gives Novagold control of the 3-kilometre-long Summit vein outcrop, while the 180 claim Blue Bell property covers a 4-kilometre vein system similar in structure and potential to the Summit vein.