NOVAGOLD is a well-financed precious metals company engaged in the development of mineral properties in North America. The Company’s flagship asset is its 50%-owned Donlin Gold project in Alaska, one of the safest jurisdictions in the world. With a production profile averaging 1.5M oz/year in the first five years of operation, and over 1M oz/year over its initial 27 year mine life, Donlin Gold is poised to become one of the largest producers in the gold industry. Donlin Gold has been in the permitting phase of the project since July 2012. Based on other large projects that have recently been permitted in the U.S., NOVAGOLD expects that permitting will be another 2 to 3 years.
NOVAGOLD also owns 50% of the Galore Creek copper-gold-silver project located in northern British Columbia. According to the pre-feasibility study, Galore Creek would be the largest and lowest cost copper mine in Canada. The Company is evaluating opportunities to sell all or a portion of its interest in Galore Creek to apply the proceeds toward the development of Donlin Gold. In the meantime, NOVAGOLD continues to bring the Galore Creek project up the value chain on a reduced budget. Activities at Galore Creek in 2013 include updating the resource model with last year’s drill results and further delineation drilling at the new Legacy zone.
Committed to responsible development and operating to the highest environmental standards, NOVAGOLD acts with a long-term view, creating mutually beneficial relationships with our communities, employees, investors, partners and other people critical to our success and the economic development of Alaska.