EXPLORATION & DEVELOPMENT

Donlin set to grow resource

'The results continue to highlight Donlin's world-class potential,' says Mark Bristow

This article is 4 years old. Images might not display.

Donlin's 39Moz (average 2.24g/t) measured and indicated resource makes it one of the biggest undeveloped gold deposits in the world.

Exploration has focused on about 3km of an 8km-long known system.

The 23,400m, 85-hole 2020 Donlin drilling campaign targetted the ACMA and Lewis deposits.

The partners have received assays for the first 25 holes, or about 30% of the length drilled, with results for nine holes already released. Better intercepts from the latest holes are 4.17m grading 80.6 grams gold per tonne from 123.5m depth, including 3.15m of 106.2g/t; 6.93m at 43.1g/t from 178.6m, including 3.25m of 90.5g/t; 19.77m at 11.3g/t from 48.86m, including 7m at 25.2g/t; and 33.88m at 6.5g/t, including 7.94m at 11.3g/t.

The results will feed into a resource update for the project and will be followed up next year with more drilling.

According to operator Novagold, results continued to indicated better-than-modelled grade thickness, with higher grades observed over narrower intervals, particularly in sedimentary rocks.

"With the industry burning through reserves, and grades continuing to decline, great drill results with even higher-than-modelled grades are exciting for any mining company - and we believe that to be particularly true for Donlin Gold at this late stage of development," said Novagold CEO Greg Lang.

Barrick boss, Mark Bristow, said the results continued to highlight Donlin's world-class potential.

Earlier this year shortseller, J Capital Research, alleged Donlin was technically so challenging it constituted a "pipe dream" and "would never be built", and that Barrick and Novagold were gaslighting investors

Novagold filed a lawsuit against JCAP in July saying it suffered damages from the manipulative "short and distort" report.

Novagold shares (TSX: NG) are up 59% over the past 12 months at C$14.11. Barrick's (NYSE American: GOLD) are up 55% at US$26.63.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.