This would be tremendous!!! What a pity!
Unfortunately, Stockwatch simply did not where decimal point should go. It just shows that it's indeed difficult to get good help!
Anyway, it's funny. I have to admit that at first my jaw dropped to China. I got it back in several seconds to laugh a bit.
NovaGold Resources Inc (2) - News Release
NovaGold drilling results increase Donlin gold resource
NovaGold Resources Inc (2) NRI
Shares issued 31,773,421 Oct 2 2002 close $ 4.48
Thursday October 3 2002 News Release
Mr. Greg Johnson reports
DONLIN DRILLING HITS BEST INTERCEPTS THIS YEAR
NovaGold Resources has released results from the continuing prefeasibility and exploration program at the Donlin Creek gold deposit.
Highlights
New core holes south of the Acma deposit intersect the greatest concentration of gold mineralization in 2002 program at over 800 gram-meters grade thickness.
The current drill program is on track for NovaGold to earn its 70-per-cent interest in the Donlin Creek gold project from Placer Dome this month.
An interim resource estimate update is in process and is also anticipated to be completed this month.
Prefeasibility drilling accelerated, project economics continue to improve
The in-pit expansion drilling and drilling on new target areas continue to return excellent results. The new gold mineralization discovered during the current drill program will add significantly to the overall gold resource at Donlin Creek. In particular, drilling within the modelled Acma pit, as defined by the March, 2002, scoping study, has found new high-grade gold mineralization that will increase the gold resource and reduce the waste-to-ore strip ratio, thereby improving the project economics significantly from the base-case scenario.
The current prefeasibility drill program is on track for NovaGold to have spent its required $10-million (U.S.) in exploration expenditures and earn its 70-per-cent interest in the Donlin Creek gold project from Placer Dome this month. NovaGold is currently working on an interim resource estimate update that should also be completed this month.
To date, 235 drill holes (102 core holes and 133 rotary holes) have been drilled this year for a total of 31,300 metres (103,000 feet) in 2002. Two additional core drill rigs have been mobilized to site to accelerate the prefeasibility drilling and complete an additional 30,000 metres (100,000 feet) of drilling by December. There are now a total of four diamond core drill rigs and one reverse circulation rig working on the project.
Acma expansion drilling hits best intercepts yet in 2002
The first results from the 100-metre-by-100-metre step-out expansion drilling directly south of the Acma deposit have hit very exciting gold mineralization. Two of these drill holes have intersected the greatest concentration of gold as measured by grade times intercept thickness for the 2002 program. Using only intervals greater than three grams per tonne (g/t) gold, drill holes DC02-859 and DC02-863 both returned a total contained gold grade thickness of over 800 gram-metres.
The area south of Acma falls, within the scoping study, modelled pit boundaries but, prior to these results, only had a few scattered drill holes within it. Highlight results from the first of eight diamond core holes in this area include: DC02-859, which intersected nine significant mineralized gold intervals including 316 metres grading 74 g/t and 340 metres grading 56 g/t gold; DC02-860, with two significant intercepts including 203 metres grading 79 g/t gold; DC02-861, which intersected four significant intervals including 160 metres grading 64 g/t, 300 metres grading 90 g/t and 155 metres grading 45 g/t; DC02-863, which intersected eight significant intervals including 154 metres grading 63 g/t, 410 metres grading 61 g/t and 262 metres grading 59 g/t gold; and finally DC02-864, which intersected seven significant intervals including 272 metres grading 42 g/t, 120 metres grading 78 g/t and 22 metres grading 36 g/t gold. Additional assays are still pending from this area and the mineralization remains open.
Additional follow-up drilling at the new Akivik discovery has intersected additional high-grade gold mineralization. High-grade intercepts between Akivik and Acma has been followed up with additional holes designed to determine the geometry and controls to this high-grade sediment hosted gold mineralization. Results from two additional core holes include: DC02-856, which intersected 69 metres grading 208 g/t and DC02-858, which intersected 39 metres grading 126 g/t and 77 metres grading 39 g/t gold, further demonstrate the continuity of this exciting shallow, high-grade gold zone. Further follow-up drilling is planned in this area to define the extent of this high-grade zone.
Drill hole location maps showing the Donlin Creek target areas are available for download on the NovaGold Web site at the following link: www.novagoldnet/s/Projectsasp?PropertyInfoID3D880.
New Donlin Creek summary drill results and sample protocol
DONLIN CREEK SUMMARY DRILL RESULTS
DHID Interval Au Area
(m) (g/t)
DC02-857 1,419 to 1,580 313 South
1,775 to 2,080 377 of Acma
DC02-859 740 to 880 440 South
1,191 to 1,221 1,229 of Acma
1,480 to 1,582 326
2,624 to 2,940 742
3,400 to 3,740 559
4,040 to 4,140 492
4,200 to 4,310 261
4,350 to 4,431 437
4,522 to 4,597 668
DC02-860 1,510 to 1,570 561 South
1,780 to 1,983 786 of Acma
DC02-861 1,780 to 1,940 644 South
3,880 to 4,180 903 of Acma
4,525 to 4,570 411
4,880 to 5,035 451
DC02-862* 1,460 to 1,591 335 South
2,328 to 2,384 541 of Acma
DC02-863* 613 to 670 428 South
1,540 to 1,695 631 of Acma
2,660 to 2,770 572
3,019 to 3,090 537
3,170 to 3,580 612
3,740 to 3,880 591
4,108 to 4,370 590
4,821 to 4,880 906
DC02-864* 227 to 277 867 South
965 to 1,238 416 of Acma
1,340 to 1,400 303
1,480 to 1,547 308
1,599 to 1,792 302
2,020 to 2,140 784
2,510 to 2,730 364
DC02-865* 620 to 681 349 South
of Acma
DC02-856 1,381 to 1,450 2,082 Akivik
DC02-858 910 to 949 1,256 Akivik
1,010 to 1,087 386
The drill program and sampling protocol are managed by NovaGold with oversight provided by qualified person Phil St. George, vice-president of exploration and project manager for NovaGold Resources. All drill samples were analyzed by fire assay at ALS Chemex Labs in Vancouver, B.C., Canada. Marked drill holes indicate some final assays are still pending.
Mine engineering fieldwork has been initiated at Donlin with geotechnical studies on the tailings impoundment site, the facility site, including studies for the upgrade of the main road access to the property. Environmental baseline studies for mine permitting, including subsurface water and air monitoring, have also been initiated, as well as continuing surface water studies. Plant and wildlife studies have also been initiated as part of the permitting process. |
