NovaGold Resources Inc.: Final 2005 Galore Creek Drill Results Received.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- NovaGold Resources NovaGold Resources Inc. (TSX: NG, (AMEX:NG)) is a leading exploration and development company with three of the world’s largest undeveloped gold and copper deposits located in Alaska and Western Canada. These projects include the 28. Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :NG)(AMEX AMEX See: American Stock Exchange :NG) - Highlights - NovaGold receives final assay ASSAY. A chemical examination of metals, by which the quantity of valuable or precious metal contained in any mineral or metallic mixture is ascertained. 2. By the acts of Congress of March 3, 1823, 3 Story's L. U. S. 1924; of June 25, 1834, 4 Shars. cont. Story's L. U. S. results for the 63,000 meter (206,600 feet) infill in·fill n. 1. The use of vacant land and property within a built-up area for further construction or development, especially as part of a neighborhood preservation or limited growth program. 2. , geotechnical and water monitoring drill program at Galore Creek. - Drill totals for the 2005 program include: - Over 58,000 meters in 205 drill holes of infill and exploration drilling in the Central, Junction, West Fork West Fork may be:
Southwest or south west may also refer to:
Butte (by  t), city (1990 pop. 33,336), seat of Silver Bow co., SW Mont.; inc. 1879. It is a trade, ranching, and industrial center. prospects.
- Over 5,000 meters of geotechnical drilling in 47 drill holes and 10 water monitoring wells - Recent highlights from the infill drilling include: - Drill Hole GC05-0710 in the Central deposit intersected two composite intervals totaling 102.0 meters of 2.69% Copper Equivalent (CuEq)(1) or 4.43 g/t Gold Equivalent (AuEq AuEq Gold Equivalent )(1) mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. . - Drill Hole GC05-0625 in the Central deposit intersected two composite intervals totaling 100.8 meters of 2.21% CuEq or 3.64 g/t AuEq mineralization. - Drill Hole GC05-0661 in the Southwest deposit intersected one composite interval totaling 204.5 meters of 1.66% CuEq or 2.73 g/t AuEq mineralization. - Drill Hole GC05-0665 in the Southwest deposit intersected four composite intervals totaling 168.7 meters of 2.03% CuEq or 3.34 g/t AuEq mineralization including 43.4 meters of 3.50% CuEq or 5.76 g/t AuEq mineralization - NovaGold is developing an updated three dimensional model combining all aspects of lithology li·thol·o·gy n. 1. The gross physical character of a rock or rock formation. 2. The microscopic study, description, and classification of rock. , structure, alteration Modification; changing a thing without obliterating it. An alteration is a variation made in the language or terms of a legal document that affects the rights and obligations of the parties to it. , specific gravity specific gravity, ratio of the weight of a given volume of a substance to the weight of an equal volume of some reference substance, or, equivalently, the ratio of the masses of equal volumes of the two substances. , acid neutralization neutralization, chemical reaction, according to the Arrhenius theory of acids and bases, in which a water solution of acid is mixed with a water solution of base to form a salt and water; this reaction is complete only if the resulting solution has neither acidic nor capacity and metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. domains in anticipation of a Feasibility fea·si·ble adj. 1. Capable of being accomplished or brought about; possible: a feasible plan. See Synonyms at possible. 2. level resource estimation estimation In mathematics, use of a function or formula to derive a solution or make a prediction. Unlike approximation, it has precise connotations. In statistics, for example, it connotes the careful selection and testing of a function called an estimator. to be completed by the second quarter of 2006. Final Results Confirm and Expand Mineralization at Galore Creek The 2005 drill program at the Galore Creek project in Northwestern British Columbia has been completed and crews demobilized. The program drilled 205 holes totaling over 57,700 meters of infill and exploration drilling in support of the upcoming 2006 feasibility study The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented. . The drilling has demonstrated the potential for expansion of the previously identified resources in the Central, North Junction, West Fork and Southwest deposits. Particular emphasis was directed at the Central deposit with over 23,700 meters of drilling in 76 holes, the Southwest deposit with over 13,500 meters in 46 holes and the West Fork deposit with over 8,900 meters in 31 drill holes. Overall results from the program have confirmed the continuity of the deposits and expanded the known areas of mineralization at the margins and at depth. In the main Central deposit infill drilling has confirmed higher grade copper-gold-silver along the northwestern and southwestern south·west n. 1. Abbr. SW The direction or point on the mariner's compass halfway between due south and due west, or 135° west of due north. 2. An area or region lying in the southwest. 3. margins of the deposit. Mineralization remains open at depth to the west in moderate to high grade copper-gold mineralization and immediately below and to the east of the deposit in the 'Bountiful' zone, an area of moderate to lower grade copper mineralization that remains completely open at depth with all holes ending in mineralization. At the Southwest deposit, infill drilling has demonstrated the potential for the inferred material to be upgraded to measured and indicated categories. The deposit remains open to further expansion down dip dip, in agriculture, method of treating animals (chiefly livestock) infested with skin parasites such as mites, ticks, and warbles. The animal is dipped into or forced to swim through a tank filled with an insecticide solution. in higher grade mineralization. Drilling at the West Fork deposit, discovered in 2004, has significantly improved the definition of the mineralization which may link up with the Southwest deposit at depth. Final drill results from the Central deposit are highlighted in Table 1 while results from the West Fork and Southwest deposits are highlighted in Table 2. Significant recent holes from the Central deposit include: GC05-0710 which intersected two composite intervals totaling 102.0 meters of 2.69% Copper Equivalent (CuEq) or 4.43 g/t Gold Equivalent (AuEq) mineralization and GC05-0625 which intersected two composite intervals totaling 100.8 meters of 2.21% CuEq or 3.64 g/t AuEq mineralization. Highlights from the Southwest deposit include: GC05-0661 which intersected one composite interval totaling 204.5 meters of 1.66% CuEq or 2.73 g/t AuEq mineralization and GC05-0665 which intersected four composite intervals totaling 168.7 meters of 2.03% CuEq or 3.34 g/t AuEq mineralization including 43.4 meters of 3.50% CuEq or 5.76 g/t AuEq mineralization. Additional 2005 drill results from Galore creek were released in two earlier press release dated August 30, 2005 and October October: see month. 5, 2005. NovaGold is currently developing an updated three dimensional block model combining all aspects of lithology, structure, alteration, specific gravity, acid neutralization capacity and metallurgical domains in anticipation of a Feasibility level resource estimate to be completed by the second quarter of 2006. Drill results from this season have demonstrated the potential for expansion of the four mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. zones that are in the current mine plan at the Central, Southwest, Junction and West Fork deposits. Drilling in the main Central and Southwest deposits in particular have expanded the higher-grade mineralization both laterally lat·er·al adj. 1. Of, relating to, or situated at or on the side. 2. Of or constituting a change within an organization or a hierarchy to a position at a similar level, as in salary or responsibility, to the one being left: and down dip and new discoveries at the Middle Creek Middle Creek may refer to the following streams in Pennsylvania and Maryland:
About the Galore Creek Project The Galore Creek project is located in Northwestern British Columbia west of Highway 37 and 150 kilometers northeast of the tidewater tidewater, in U.S. history, that part of the Atlantic coastal plain between the shoreline and the farthest upstream points in rivers reached by oceanic tides. In many cases the fall line is given as the western boundary. shipping port of Stewart, British Columbia Stewart is a small town at the head of the Portland Canal in western British Columbia, Canada. In 2000, its population was about 700. History The Nisga'a, who lived around the Nass River, called the head of Portland Canal "Skam-A-Kounst," meaning safe place, probably . NovaGold has an option to acquire a 100% interest in the Galore Creek copper-gold project from subsidiaries of Rio Tinto Rio Tinto may refer to:
NovaGold has an option agreement with Eagle Plains Resources Ltd. on the adjoining Copper Canyon property under which NovaGold may acquire up to an 80% interest. NovaGold also has an option on the adjoining Grace property with Pioneer Metals Corporation under which NovaGold may acquire a 60% interest in the Grace claims. About NovaGold NovaGold is rapidly advancing three of North America's largest undeveloped gold and copper deposits: the Galore Creek copper-gold project, the Donlin Creek gold project in partnership with Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. , the Ambler project in partnership with Rio Tinto, as well as the Company's Nome Operations including: Rock Creek Rock Creek may refer to:
Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. company. More information is available online at: www.novagold.net.
Table 1. Central Deposit Significant Drill Intercepts
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Drill Copper Gold
Hole From To Width Width Copper Gold Silver Equiv Equiv
Number M M M Feet % g/t g/t % g/t
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Central
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GC05-0596 76.0 127.7 51.7 169.6 1.66 2.57 8.75 3.30 5.43
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135.4 160.8 25.4 83.5 0.72 0.72 3.47 1.19 1.96
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211.2 228.0 16.9 55.3 0.55 0.24 5.72 0.74 1.22
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234.0 289.9 55.9 183.3 0.54 0.16 6.62 0.70 1.14
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Total 149.9 491.7 0.96 1.10 6.72 1.68 2.77
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GC05-0599 30.2 170.1 139.9 459.1 1.42 0.42 9.78 1.76 2.90
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Total 139.9 459.1 1.42 0.42 9.78 1.76 2.90
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GC05-0619 18.0 36.0 18.0 59.1 0.43 0.46 4.28 0.75 1.23
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134.0 166.0 32.1 105.2 0.38 0.13 3.42 0.49 0.81
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193.0 279.3 86.3 283.1 1.16 0.28 5.89 1.38 2.26
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288.9 326.7 37.9 124.2 0.79 0.24 6.49 0.99 1.62
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Total 174.2 571.6 0.86 0.26 5.40 1.07 1.75
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GC05-0625 60.5 89.4 28.9 94.8 0.98 0.46 11.38 1.36 2.24
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116.0 187.9 71.9 235.8 1.78 1.06 13.75 2.55 4.20
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Total 100.8 330.6 1.55 0.89 13.07 2.21 3.64
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GC05-0634 114.0 358.4 244.4 801.8 0.98 0.24 10.05 1.22 2.01
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Total 244.4 801.8 0.98 0.24 10.05 1.22 2.01
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GC05-0637 182.5 195.0 12.5 41.0 0.29 0.33 3.78 0.53 0.86
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222.5 252.9 30.4 99.9 0.47 1.11 5.93 1.19 1.96
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279.6 360.0 80.4 263.9 0.98 0.90 7.49 1.59 2.62
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Total 123.3 404.8 0.78 0.89 6.73 1.38 2.28
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GC05-0653 87.4 162.0 70.6 231.7 0.80 0.18 11.52 1.01 1.67
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172.0 273.0 101.0 331.4 0.73 0.25 10.18 0.97 1.60
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303.0 319.0 16.0 52.5 0.78 0.16 8.29 0.96 1.57
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Total 187.6 615.6 0.76 0.22 10.52 0.98 1.62
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GC05-0698 104.0 175.8 71.8 235.6 0.96 0.17 6.10 1.12 1.84
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204.0 262.0 58.0 190.3 0.80 0.16 9.33 0.98 1.61
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270.1 354.0 84.0 275.4 1.32 0.57 8.77 1.74 2.86
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406.0 424.0 18.0 59.1 0.48 0.13 5.77 0.61 1.01
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430.0 458.0 28.0 91.9 0.38 0.09 6.02 0.49 0.81
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Total 259.8 852.3 0.94 0.29 7.65 1.19 1.95
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GC05-0701 126.5 140.0 13.5 44.3 1.48 0.31 12.29 1.77 2.92
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148.0 212.0 64.0 210.0 0.86 0.72 5.44 1.34 2.20
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308.0 342.0 34.0 111.5 0.34 0.04 4.86 0.41 0.67
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Total 111.5 365.8 0.78 0.46 6.09 1.11 1.83
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GC05-0710 15.1 107.0 91.9 301.5 2.07 1.09 11.26 2.84 4.67
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111.5 121.6 10.1 33.2 1.14 0.24 6.96 1.34 2.21
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Total 102.0 334.7 1.98 1.01 10.84 2.69 4.43
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GC05-0711 12.6 147.0 112.0 367.3 1.21 0.34 8.44 1.50 2.46
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Total 112.0 367.3 1.21 0.34 8.44 1.50 2.46
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Table 2.
West Fork and Southwest Deposits Significant Drill Intercepts
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Drill Copper Gold
Hole From To Width Width Copper Gold Silver Equiv Equiv
Number M M M Feet % g/t g/t % g/t
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West Fork
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GC05-0648 229.7 282.0 52.3 171.6 0.73 0.47 6.60 1.07 1.77
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334.4 419.7 85.3 280.0 0.58 0.26 4.65 0.78 1.28
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Total 137.6 451.6 0.64 0.34 5.39 0.89 1.47
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GC05-0685 65.8 85.0 19.2 63.1 0.01 0.71 0.95 0.45 0.74
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289.0 299.0 10.0 32.8 0.47 0.27 2.70 0.65 1.08
-------------------------------------------------------------------
323.0 341.0 18.0 59.1 3.21 2.24 63.62 5.14 8.46
-------------------------------------------------------------------
Total 47.2 155.0 1.33 1.20 25.20 2.28 3.75
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Southwest
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GC05-0642 138.0 227.3 89.3 293.0 0.71 1.11 3.50 1.42 2.33
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300.0 318.0 18.0 59.1 0.28 0.55 2.28 0.64 1.05
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348.0 369.0 21.0 68.9 0.13 0.42 2.10 0.40 0.66
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Total 128.3 420.9 0.55 0.92 3.10 1.14 1.88
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GC05-0647 97.2 109.4 12.2 40.0 0.30 0.29 2.47 0.49 0.81
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150.0 162.0 12.0 39.4 0.33 0.42 1.60 0.60 0.99
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210.0 357.0 147.0 482.3 1.05 1.02 7.94 1.74 2.86
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435.0 453.0 18.0 59.1 0.25 0.45 4.54 0.56 0.93
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Total 189.2 620.7 0.88 0.88 6.86 1.47 2.42
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GC05-0655 21.0 45.4 24.4 80.0 1.33 2.08 5.69 2.64 4.35
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59.0 123.0 64.0 210.0 0.63 0.96 4.57 1.26 2.07
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131.0 147.0 16.0 52.5 0.87 1.35 4.98 1.73 2.84
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251.0 270.0 19.0 62.3 0.06 0.49 3.22 0.39 0.64
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306.0 327.0 21.0 68.9 0.05 0.50 1.92 0.37 0.61
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Total 144.4 473.7 0.62 1.06 4.24 1.30 2.14
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GC05-0661 181.5 386.0 204.5 670.9 0.89 1.20 5.06 1.66 2.73
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Total 204.5 670.9 0.89 1.20 5.06 1.66 2.73
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GC05-0665 59.0 71.5 12.5 41.0 0.60 0.70 3.61 1.05 1.73
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96.5 139.9 43.4 142.4 2.27 1.84 12.68 3.50 5.76
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146.3 229.0 82.8 271.7 0.65 1.78 7.13 1.79 2.95
-------------------------------------------------------------------
268.0 298.0 30.0 98.4 0.11 1.36 5.29 0.98 1.61
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Total 168.7 553.5 0.97 1.64 7.97 2.03 3.34
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GC05-0696 99.0 138.0 39.0 128.0 0.06 0.76 2.58 0.54 0.90
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150.0 211.0 61.0 200.1 0.03 0.74 1.49 0.49 0.81
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217.0 251.0 34.0 111.5 1.45 3.40 14.68 3.65 6.00
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258.0 309.7 51.7 169.6 0.25 1.09 3.38 0.95 1.56
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Total 185.7 609.2 0.36 1.33 4.66 1.21 1.99
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Note: (1) Gold and Copper equivalent calculations use long-term
average metal prices of US$375/oz for gold, US$5.50/oz for silver
and US$0.90/lb for copper. Gold and Copper equivalent calculations
reflect gross metal content and have not been adjusted for
metallurgical recoveries. True widths have not been determined for
the above intercepts but are believed to be representative of actual
drill thicknesses.
The 2005 Galore drill program and sampling protocol was under the direction and oversight
Oversight may refer to:
tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. by fire assay and ICP (1) (Internet Cache Protocol) A protocol used by one proxy server to query another for a cached Web page without having to go to the Internet to retrieve it. See CARP and proxy server. at ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. Chemex Labs in Vancouver, B.C., Canada Canada (kăn`ədə), independent nation (2001 pop. 30,007,094), 3,851,787 sq mi (9,976,128 sq km), N North America. Canada occupies all of North America N of the United States (and E of Alaska) except for Greenland and the French islands of . Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : This press release contains forward-looking statements within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward looking statements are statements that are not historical facts and that are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including: risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies; uncertainties about the availability of additional financing; uncertainties related to fluctuations in gold prices; and other risks and uncertainties described in the Company's registration statement on Form 40-F and Reports on Form 6-K filed with or furnished fur·nish tr.v. fur·nished, fur·nish·ing, fur·nish·es 1. To equip with what is needed, especially to provide furniture for. 2. to the U.S. Securities and Exchange Commission. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. NovaGold Resources Inc. (TSX:NG) (AMEX:NG) |
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