- Donlin Gold LLC reports on the initial assay results for the 2022 drill program at the Donlin Gold Project
- Donlin Gold LLC is owned 50/50 between Barrick Gold (ABX) and NovaGold Resources (NG)
- The drill program is ahead of schedule, with 26,800 meters of the planned 34,000-meter drill program completed to date
- Barrick Gold (ABX) is up 1.19 per cent, trading at C$20.27 at 3 pm EST
- NovaGold Resources (NG) is up 0.65 per cent, trading at C$6.20 at 3 pm ET
Donlin Gold LLC has shared the initial assay results for the 2022 drill program at the Donlin Gold Project.
Donlin Gold LLC is owned 50/50 between Barrick Gold (ABX) and NovaGold Resources (NG).
The drill program is ahead of schedule, with 26,800 meters of the planned 34,000-meter drill program completed to date.
Barrick President and Chief Executive Mark Bristow added that “as expected, the drill program for 2022 continues to enhance our understanding of the ore bodies that make up the Donlin project.”
“[…] this year’s drilling campaign is ahead of schedule, and results so far support the most recent modelling concepts as we focus on moving the project toward a feasibility study decision,” continued Bristow.
In June, Donlin’s board had approved an additional 43 drill holes and 8,380 meters to infill one of the 20-meter grids to 10-meter spacing.
In addition to the engineering studies underway to support the mining schedules and life of mine business plans, this program will enable the company to proceed with the preparation of an updated feasibility study.
Greg Lang, NOVAGOLD’s President and CEO, said, “The outstanding results reported today, such as the high grade at ACMA and the deep exploration work, further substantiate Donlin Gold’s potential, and the recent modelling concepts, in support of the strategic mine planning work and the engineering studies.”
The 2022 budget for Donlin Gold LLC is set at $60 million, split equally between the two owners.
In addition to fieldwork, approximately 34,000 meters of in-pit and below-pit drilling was planned under the original scope for the Alaska Dam Safety Certifications, environmental studies, and external affairs efforts.
A workshop with Barrick and NovaGold will take place in September at the Donlin Gold project in Alaska where a review of completed work will take place.
The Donlin Gold Project is located in Alaska, the second largest gold-producing state in the U.S.
Barrick Gold (ABX) is up 1 per cent, trading at C$20.23 at 3 pm ET.
NovaGold Resources (NG) is up 0.65 per cent, trading at C$6.20 at 3 pm ET.