NovaGold to Transfer Rock Creek as Part of Focus on Dolin Gold
June 11 2012 - 9:58AM
Dow Jones News
By Carolyn King
NovaGold Resources Inc. (NG) will transfer its Rock Creek
property in Nome, Alaska to Bering Straits Native Corp. in order to
focus on its 50%-owned high-grade Donlin Gold project in the
state.
Terms weren't disclosed. Bering Straits Native Corp. is owned by
Alaskan Natives.
NovaGold said the divestiture will allow it to focus on
advancing Donlin Gold, which it owns jointly with Barrick Gold
Corp. (ABX), toward permitting. NovaGold considers Donlin Gold a
key asset because it's expected to be one of just a handful of gold
mines worldwide that produces more than 1 million ounces of gold
annually.
Write to Carolyn King at carolyn.m.king@dowjones.com
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