VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2008) - NovaGold Resources Inc. (TSX:NG)(AMEX:NG) today released a project update with additional drill results from the 2008 Donlin Creek drill programs.
Highlights
- Drill holes average 130 meters of mineralization grading 3.58 g/t gold
- Donlin Creek remains open to expansion laterally and at depth
- East Acma drilling highlights expansion of broad zones of higher grade mineralization
- Preferred project design selected - feasibility study targeted to be complete Q1-2009
Donlin Creek 2008 Drill Results
Additional assay results from the 2008 Donlin Creek program continue to be received by the Donlin Creek LLC. Just over 13,000 meters of exploration development drilling have now been completed in the 2008 Phase 2 program. Total exploration and development drilling in 2008 now totals over 32,000 meters. Drilling in the Phase 2 program includes some additional holes in the East Acma structural zone as well as some select infill holes in the Lewis and Akivik areas. Exploration drilling has also targeted the potential for oxide/non-refractory mineralization on the project. Full assays are still pending from additional drilling from this season's program.
Highlights from recently received assays include:(1)
East Acma
- DC08-1705 intersected 266.6 meters of 2.64 g/t gold in 14 mineralized intervals
- DC08-1708 intersected 208.3 meters of 3.26 g/t gold in 15 mineralized intervals
- DC08-1709 intersected 65.4 meters of 6.14 g/t gold in 7 mineralized intervals
- DC08-1710 intersected 332.7 meters of 3.83 g/t gold in 13 mineralized intervals
- DC08-1715 intersected 112.9 meters of 3.97 g/t gold in 6 mineralized intervals
Lewis and Akivik
- DC08-1706 intersected 22.0 meters of 5.03 g/t gold in 3 mineralized intervals
- DC08-1716 intersected 115.8 meters of 3.15 g/t gold in 11 mineralized intervals
- DC08-1719 intersected 107.6 meters of 4.25 g/t gold in 10 mineralized intervals
- DC08-1764 intersected 30.0 meters of 2.84 g/t gold in 2 mineralized intervals
- DC08-1765 intersected 42.3 meters of 3.22 g/t gold in 3 mineralized intervals
(1) Composites constructed from assays at a 1.0 g/t gold cutoff grade and a maximum of 4 meters of internal dilution. The true width of these composites has not yet been determined, but are believed to be representative of intervals reported. Several of the holes released in this press release have additional mineralized intervals which were excluded as they still require final QA/QC confirmation. A complete set of 2008 drill results is available at the NovaGold website (www.novagold.net).
To view accompanying Figure 1, please click on the following link: http://media3.marketwire.com/docs/NGMap.pdf
"These additional drill results continue to demonstrate that Donlin is truly one of the world's largest gold deposits with considerable potential to expand known resources," said Rick Van Nieuwenhuyse, President and CEO of NovaGold. "We are particularly encouraged by the grades and widths of mineralization encountered at the East Acma and other target areas on the project."
In June 2008, NovaGold reported an updated resource estimate for the Donlin Creek project. The resource base increased to 31.7 million ounces of measured and indicated gold resources grading approximately 2.5 grams per tonne with an additional 4.2 million ounces of inferred gold resources (see news release from 10 June 2008). Previously reported drilling at the East Acma target indicated significant potential for expansion of higher-grade mineralization beyond the current resource pit boundary. The results of drilling released in this press release and shown on Figure 1, demonstrate that the broad zone of higher-grade mineralization at East Acma continues at least an additional 500 meters to the east of the current pit-constrained resource along the Donlin Creek anticline, an important ore-controlling structure.
