Vancouver — The latest drill results from the Acma target on the 13-million-oz. Donlin Creek gold deposit in southwestern Alaska continue to expand the high-grade core for operator Novagold Resources (NRI-T).
The new values include hole 597, which returned the single best intercept drilled on the property to date, 146 metres grading 6.8 grams gold per tonne from 8 metres down-hole. To date, the junior has received assays from 15 holes. Seven the them expand the current resource area to the south and west, while 8 represent infill holes aimed a boosting the resource to the measured and indicated category, previously defined by Placer Dome (PDG-T). Collared 25-to-50 metres apart, the latest holes continue to show that the mineralization remains open to the east, south and west. Further highlights from the drilling include:
- Hole 598 — 6 metres grading 5.2 grams gold per tonne from 14 metres down-hole,
- Hole 599 — 12 metres grading 5.7 grams gold from 6 metres down-hole,
- Hole 600 — 13.4 metres grading 6.5 grams gold from 32.3 metres down-hole, and 31.3 metres grading 15.2 grams gold from 97.5 metres down-hole.
Situated 480 km west of Anchorage, Donlin Creek hosts measured and indicated resources of 70.1 million tonnes grading 3.06 grams gold per tonne. The estimate is based on a cutoff grade of 1.5 grams gold and excludes 66.2 million tonnes, averaging 2.83 grams gold, that are classified as an inferred resource. Based on the low price of gold, the current drill program is focussing on a higher-grade core of 18.8 million tonnes grading 5.2 grams gold. This portion is based on cutoff grade of 3.5 grams gold.
Most of Donlin Creek’s resources are hosted by intrusive dykes and sills, plus high-grade stockworks in surrounding sedimentary rocks. Gold mineralization is structurally controlled and occurs as disseminations and veinlets in association with fine-grained arsenopyrite.
Metallurgical work by Placer Dome indicates that 89-95% of the gold can be recovered from the intrusive-hosted zones and 76-78% from the sedimentary-hosted portion.
The Donlin Creek property covers 109 sq. km of private patented land under lease from the regional and village corporations of the lower Kuskokwim region. Novagold must spend US$12 million over 10 years to earn a 70% stake in that ground.
Be the first to comment on "Novagold extends Acma"