NovaGold confirms Copper Canyon resource potential

Vancouver – With this seasons’ eight-hole, 2,700 metre drill program at its Copper Canyon target complete, NovaGold Resources (NG-T) is optimistic on potential for a new resource to be developed on this area of its Galore Creek project, in northwestern British Columbia.

Much of the Copper Canyon drilling has intersected significant copper, gold and silver mineralization near to surface and remaining open in all directions and to depth.

Results from this year’s drilling includes hole CC04-022 intersecting 73.5 metres (from 155.5 metres) grading 0.87% copper, 1 gram gold per tonne and 20.1 grams silver per tonne, including 46 metres of 1.14% copper, 1.44 grams gold and 23.6 grams silver. Hole CC04-023 cut 274.4 metres (from 44 metres) averaging 0.74% copper, 0.76 grams gold and 12.9 grams silver.

Significant high-grade zones are present within broadly disseminated zones of copper-gold-silver mineralization. An area of mineralization at least 700 metres by 400 metres has been so far outlined.

NovaGold has recently engaged engineering firm Hatch to conduct an independent resource estimate on Copper Canyon. The study will review this year’s drill program and will also incorporate prior drilling on the project.

Mineralization at Copper Canyon generally occurs as a 100-plus metre thick zone of disseminated chalcopyrite and pyrite in a porphyry system.

NovaGold is earning up to an 80% interest in Copper Canyon from Eagle Plains Resources (EPL-V) for $3 million in exploration, an issuance of 296,000 shares, payment of $1.25 million and completion of a feasibility study by 2011.