Barrick/Novagold drill high-grade gold at Donlin Project

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Donlin Gold LLC, owned 50/50 by Barrick Gold Corp. [ABX-TSX; GOLD-NYSE] and Novagold Resources Inc. [NG-TSX, NYSE American], has successfully completed its 2020 85-hole drilling program totalling approximately 23,400 metres. The holes were drilled in both the ACMA and Lewis deposit areas of the Donlin gold project 450 km northwest of Anchorage, Alaska.

Assay results for the first 25 holes (representing 30% of the length drilled) have been received to date, of which nine were previously released to the market on August 6. Assay results show higher grades over thinner intervals compared with those predicted by previous modelling, particularly in sedimentary rocks. The Donlin gold team is wrapping up site activities with the drill core being logged, cut, sampled and shipped to assay laboratories. Site activities are now completed.

The primary objective of the 2020 drill program, the largest such campaign at Donlin gold since 2008, has been to validate and increase the confidence in recent geologic modelling concepts. Once complete, it is expected to drive an update of mining schedules and life-of-mine business plans.

Results to date continue to exceed modelled grade thickness, with higher grades observed over narrower intervals, particularly in sedimentary rocks. Additional assay results will be reported as they become available.

Four of the top intervals identified since the results announced on Aug. 6, 2020, include:

DC20-1877 intersected 4.17 metres grading 80.6 g/t gold, starting at 123.48 metres, including 3.15 metres of 106.2 g/t gold, starting at 124.50 metres.

DC20-1888 intersected 6.93 metres of 43.1 g/t gold, starting at 178.58 metres, including 3.25 metres of 90.5 g/t gold, starting at 180.26 metres.

DC20-1878 intersected 19.77 metres of 11.3 g/t gold, starting at 48.86 metres, including 7.00 metres of 25.2 g/t gold, starting at 54.86 metres.

DC20-1886 intersected 33.88 metres of 6.5 g/t gold, starting at 218.20 metres, including of 7.94 metres of 11.3 g/t gold, starting at 224.20 metres.

Additional significant intervals are listed on the companies’ websites.


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