Donlin Gold LLC, owned 50/50 by Barrick Gold Corp. [ABX-TSX; GOLD-NYSE] and NovaGold Resources Inc. [NG-TSX, NYSE American], released initial assay results for 18 completed drill holes, plus additional partial results for 11 holes from the 2021 drill program at the Donlin gold project located 450 northwest of Anchorage, Alaska..
Assay results have been received from approximately 7,500 metres of drilling. Significant new high-grade drill hole intercepts in ACMA and in areas between the ACMA and Lewis deposits (divide) point toward the potential feeder zones of this large system.
The drill program, expanded by approximately 15 holes and 4,000 metres from the original 2021 plan, should provide important information on mineralization continuity that will support feasibility work.
The primary objective of the 2021 drill program is to complete the work necessary to validate and increase the confidence in recent geologic modelling concepts. Initial results indicate variable controls on mineralization in different deposit areas, with more continuous mineralization hosted in ACMA intrusives and more discrete intervals occurring in the sediments and intrusives in Lewis.
The additional confirmation and extension drilling focus on further testing of orebody continuity and structural control as well as data collection for geotechnical and geometallurgical analysis. The drilling program was recently expanded to test an area of ACMA for mineralization continuity. The 2021 drill program is expected to encompass approximately 80 holes for a total of 24,000 metres drilled and should wrap up in the fall. The logging and assay results will then be incorporated into a geologic model update, followed by a shift in focus to feasibility study work, subject to a formal decision by the Donlin Gold board.
Top intervals received in the program to date include hole DC21-1970 that intersected 92.02 metres grading 7.8 g/t gold, starting at 69.70 metres drilled depth, including subintervals of 3.20 metres grading 29.2 g/t gold, starting at 70.70 metres drilled depth; 3.01 metres grading 14.0 g/t gold, starting at 81.90 metres drilled depth; 3.65 metres grading 12.5 g/t gold, starting at 104.85 metres drilled depth; and 5.18 metres grading 33.7 g/t gold, starting at 146.03 metres drilled depth.
Hole DC21-1963A intersected 40.97 metres grading 10.5 g/t gold, starting at 114.30 metres drilled depth, including a subinterval of 14.96 metres grading 22.2 g/t gold, starting at 117.24 metres drilled depth.
Hole DC21-1969 intersected 47.78 metres grading 9.0 g/t gold, starting at 400.51 metres drilled depth, including subintervals of 5.98 metres grading 18.1 g/t gold, starting at 401.43 metres drilled depth; 11.98 metres grading 13.9 g/t gold, starting at 414.41 metres drilled depth; and 5.66 metres grading 11.3 g/t gold, starting at 442.63 metres drilled depth.
Hole DC21-1959 intersected 24.44 metres grading 14.6 g/t gold, starting at 378.85 metres drilled depth, including a subinterval of 6.50 metres grading 33.5 g/t gold, starting at 386.79 metres drilled depth.
NovaGold Shares gained $0.25 to $9.13 in early trading on a volume of 1,445,000 shares traded. Barrick shares gained $0.55 to $25.438 on a volume of 3,713,200 in early trading.