Barrick Gold Corporation (“Barrick”) (TSX: ABX)
(NYSE: GOLD) and
NOVAGOLD RESOURCES INC.
(“NOVAGOLD”) (TSX: NG) (NYSE American: NG) are pleased to
provide an update on their co-owned (50/50) Donlin Gold project
(“Donlin Gold” or the “project”) and the 2020 drill program
currently advancing with four drills turning at the site. All are
operating within the framework of stringent safety measures, which
include protocols to prevent the spread of COVID-19.
The Donlin Gold drill program, which commenced in February 2020,
was temporarily paused in early April due to travel restrictions
and other COVID-19 prevention measures in the region. Drilling
activities resumed at Donlin Gold in late May, following the
reopening of certain aspects of the States’ economy by Alaska's
Governor, and after consultation with employees, contractors, and
regional villages regarding safety measures. To minimize the risk
posed by COVID-19, Donlin Gold implemented a broad set of policies
at the project site and the administrative office in Anchorage.
Almost 60% of the drilling has been completed to date, with assays
reported from approximately 10% of the planned drilling.
Of equal importance to this positive development, and consistent
with our commitment to our decades-long partnership with Calista
Corporation (“Calista”) and The Kuskokwim Corporation (TKC), Donlin
Gold’s Native Corporation partners and owners of the project’s
subsurface and surface rights respectively, we responded with
urgently needed community support during the pandemic. This support
includes food and supplies and partnering in ongoing community
engagement in environmental management, safety, training,
educational, health, and cultural initiatives. Involving the local
communities in all aspects of the project is core to both Barrick’s
and NOVAGOLD’s philosophy as illustrated by the fact that
approximately 80% of Donlin Gold direct hires are Alaska
Natives.
Objectives of the 2020 Drill Program
The primary objective of the 2020 drill program, the largest
such campaign at Donlin Gold since 2008, is to validate recent
geological and resource modeling controls developed by the owners,
Barrick and NOVAGOLD. The other objective is to test potential
extensions of high-grade zones, most of which would be expected to
be mined early in the life of a future mine. The newly obtained
data should also enhance the understanding of the mineralized zones
and lead the partners to determine the next steps.
Statements by the Owners
The first set of results from this year’s drill program continue
to substantiate the unique value proposition that Donlin Gold
represents for both owners.
“Diligent exploration and detailed geological modeling are
essential in establishing a strong foundation on which to deliver
optimal value from an asset the size of Donlin,” said Mark Bristow,
President and CEO of Barrick.
“These early drill results have improved our understanding of
the orebody, supporting the more recent geologic modelling. They
also underscore Donlin Gold’s significant potential as well as
extraordinary optionality to the gold price over multiple cycles
and in a mining friendly jurisdiction1,” Bristow said. “We have
ensured that our operations are working as safely and responsibly
as possible alongside our Native Corporation partners, Calista and
TKC, providing extensive resources and support in Alaska,
particularly in the remote Yukon-Kuskokwim region closest to the
project.”
Greg Lang, NOVAGOLD’s President and Chief Executive Officer
said, “These are great early results and I’m particularly
encouraged by the high-grade mineralization encountered near
surface. This is an exciting time for Donlin Gold. I would like to
express my sincere gratitude to the Donlin Gold team, who, despite
the COVID interruption, is on track to complete the drill program
in the fourth quarter. Once the program is completed, the results
will be incorporated in an updated geological model that should
form the basis for the owners to provide information on the
approach to the next steps.”
Mr. Lang added, “We are delighted that, consistent with our
long-term strategy, all this activity is taking place in an
environment when the gold price is setting new all-time highs and
few, if any, other projects of the size and quality of Donlin Gold
are in a position to be developed anywhere in the world. With key
federal and state permits in hand, we believe that the timeline for
this uniquely attractive project in a Top Tier1 jurisdiction is in
the owners’ control.”
2020 Drill Results Highlights
- A total of 47 core holes have been drilled or are in progress
(13,795 meters), as of August 4th, 2020, with assays reported from
2,246 meters of drilling
- Significant distinct high-grade intervals were intercepted in
multiple areas, including good intervals near surface
- Five of the top intervals so far include (g/t = grams per
tonne, m = meters):
- DC20-1871 intersected 41.91 m grading 11.61 g/t gold, starting
at 30.35 m drilled depth
- DC20-1866 intersected 45.91 m grading 5.03 g/t gold, starting
at 35.39 m drilled depth; 23.36 m grading 4.15 g/t gold, starting
at 108.30 m drilled depth; and 30.28 m grading 4.20 g/t gold,
starting at 226.53 m drilled depth
- DC20-1873 intersected 7.66 m grading 18.40 g/t gold, starting
at 60.88 m drilled depth
- Additional significant intervals are shown below in Table
2
Results from the initial drilling support continued analysis of
the updated lithological model and controls of the higher grades.
The initial drill assays exceed the modeled grade-thickness with
higher grade observed over thinner intervals. Hole DC20-1871,
highlighted above and located in the ACMA deposit, is a good
example of high-grade mineralization near surface in an area of
moderately dense drilling that had seen other high grade
intercepts, but not of the magnitude of this drill hole. This is an
area that has been designated for the early years of mine
operation.
COVID-19 Response & Community
Engagement
To date no employees or contractors at Donlin Gold have tested
positive for COVID-19. Donlin Gold is fortunate to work with strong
and dedicated community partners in Alaska and in the
Yukon-Kuskokwim region, who share the objective of protecting the
health of Donlin Gold’s employees and contractors. Donlin Gold has
implemented a wide-ranging set of policies at its office in
Anchorage and at the project site this year designed to prevent the
spread of COVID-19, including:
- Testing of all employees and contractors (In-state personnel -
one negative test prior to going to camp, village personnel - two
negative tests upon arrival and prior to returning to their
village, and out-of-state personnel - two negative tests prior to
going to camp) visiting the Donlin Gold project site
- Utilizing charters to safely deliver employees to and from camp
to minimize in-region travel
- Screening and social distancing measures while at camp
- More frequent sanitization practices
- Increased communication around hygiene and sanitization
practices, as well as identification of symptoms
In addition, Donlin Gold worked with Calista, TKC and other key
representatives in the region to respond to urgent community needs
resulting from the COVID-19 pandemic. This was in addition to
ongoing community engagement in environmental management, safety,
training, educational, health and cultural initiatives. These
included:
- Chartered food deliveries to remote middle Kuskokwim villages
that are without a regular air carrier service. Many communities
had been cut off from primary winter transportation when the
regional airline declared bankruptcy. Every home in eight middle
Kuskokwim villages closest to the project received a box of food
and buckets for any homes without running water
- Established a food distribution center/food bank, to deliver
supplies to residents homebound due to medical/health issues,
quarantine requirements, or other reasons
- When the Donlin Gold project camp temporarily closed in early
April, thousands of pounds of food were delivered to food banks and
homeless shelters
- Assembled and shipped 1,400 face mask making kits to 56 Y-K
villages. Coordinated with Tribal administrators to identify
individuals that need masks for Elders and COVID-susceptible
people
- Working with Bethel Community Services Foundation and other
parties on the COVID-19 Resiliency Fund to provide support and on
potential partnerships to help homeless youth
Other ongoing initiatives include:
- CleanUp GreenUp, an annual initiative that includes community
participation from more than 32 villages to clean-up their
outdoor environment
- Campfire Alaska Summer Program with support staff in 23 Yukon
Kuskokwim communities to provide distanced activities and meal
programs for youth and Elders
- Donlin Gold worked with TKC, the State of Alaska and
Alaska Native Tribal Health Consortium in an initiative to upgrade,
as well as improve health and safety standards, of water and sewer
services in Middle Kuskokwim area communities
- In a partnership with TKC, the Village of Crooked Creek, and
the Napaimute Tribe, Donlin Gold funded and provided technical data
to extend and maintain the ice road on the Kuskokwim River -
greatly improving safety and access to nearby remote
communities
Permitting Update
Donlin Gold, working with its Native Corporation partners,
continues to support the State of Alaska to advance other permits
and certificates needed for the project. While the field work
related to the issuance of the Alaska Dam Safety certificates has
been temporarily paused to concentrate on the ongoing drill
program, the Alaska Department of Natural Resources’ (ADNR)
Division of Oil and Gas (DOG) is strengthening the cumulative
effects analysis for the State Right-of-Way (ROW) agreement and
lease authorization for the buried natural gas pipeline. Donlin
Gold supported the State’s decision to complete this work and we
expect that the ROW lease offer will be upheld and reissued by ADNR
in approximately five months.
About the Donlin Gold Project
Donlin Gold is located in Alaska, the second largest
gold-producing state in the U.S., with approximately 39 million
ounces of gold grading 2.24 grams per tonne in the measured and
indicated resource categories (100 percent basis)2, it hosts one of
the largest and highest-grade undeveloped open pit gold endowments
in the world. The planned pits occupy only three kilometers of an
eight-kilometer mineralized belt, which itself is located on less
than 5% of Donlin Gold’s land position. Current activities at
Donlin Gold are focused on the drill program, optimization efforts,
and community outreach.
Donlin Gold LLC is an Alaska-based company owned equally by
Barrick Gold U.S. Inc. and NovaGold Resources Alaska, Inc., which
are wholly owned subsidiaries of Barrick and NOVAGOLD,
respectively.
FIGURE 1Drill Hole Collar
Locations: https://www.globenewswire.com/NewsRoom/AttachmentNg/ab443f2b-06c8-49cc-975f-415909ebdbe3
Depicted grid system is based on NAD83 UTM zone 4N
coordinates. Figure 1 includes the holes drilled to date and
those highlighted in yellow are those with assays reported.
TABLE 1Drill Hole Orientations* and
Depths
Hole |
Azimuth (°) |
Inclination (°) |
Depth (m) |
DC20-1865 |
237 |
79 |
227.0 |
DC20-1866 |
45 |
67 |
302.7 |
DC20-1867 |
28 |
73 |
217.5 |
DC20-1868 |
298 |
67 |
247.2 |
DC20-1869 |
330 |
72 |
175.9 |
DC20-1870 |
307 |
71 |
249.9 |
DC20-1871** |
303 |
64 |
458.4 |
DC20-1872** |
309 |
53 |
632.8 |
DC20-1873** |
250 |
50 |
274.9 |
* Note that azimuth and inclination values vary as each hole
progresses. The stated values are hole averages, rounded to the
nearest degree.**Azimuth and inclination of these holes only
include data from downhole directional surveys performed by the
drilling contractor. Televiewer surveys were also conducted, but
those data are not yet reflected here due to interpretations in
progress. Once they are included, the azimuth and inclination
values could change.
QA/QC Procedures
The QA/QC procedures for the 2020 Donlin Gold drill program and
sampling protocol were developed and managed by Donlin Gold LLC and
overseen by Barrick and NOVAGOLD. The chain of custody from the
drill site to the sample preparation facility was continuously
monitored. All samples are HQ-diameter core. Approximately 97% core
recovery has been achieved to date. Core was logged, cut, and
sampled at site by Donlin Gold employees. Samples were
primarily collected on two-meter lengths, with a minimum length of
0.3 meters and maximum length of approximately 3.5 meters. Sampled
half-core was crushed and pulverized in either ALS Limited’s
Fairbanks, Alaska or Whitehorse, Yukon sample preparation
facilities. Pulp samples were sent to the ALS lab in Vancouver,
British Columbia for gold assays and multi-element analysis. At
least 14 quality control samples (four standards, four coarse
blanks, two pulp blanks, two coarse duplicates, and two pulp
duplicates) were inserted into each batch of 80 samples. The review
of the quality control samples did not indicate any bias or
error.
Downhole directional surveys were completed on all holes by both
Boart Longyear drill operators and on all but one hole by DGI
Geoscience Inc. technicians, and collar surveys were completed on
all holes by Rowland Engineering Consultants.
Each of ALS Limited, Boart Longyear, DGI Geoscience Inc., and
Rowland Engineering Consultants are independent of Donlin Gold,
Barrick, and NOVAGOLD.
Scientific and Technical Information
Some scientific and technical information contained herein with
respect to the Donlin Gold project is derived from the “Donlin
Creek Gold Project Alaska, USA NI 43-101 Technical Report on Second
Updated Feasibility Study” prepared by AMEC with an effective date
of November 18, 2011, as amended January 20, 2012 (the “Second
Updated Feasibility Study”). Kirk Hanson, P.E., Technical Director,
Open Pit Mining, North America, (AMEC, Reno), and Gordon Seibel,
R.M. SME, Principal Geologist, (AMEC, Reno) are the Qualified
Persons responsible for the preparation of the independent
technical report, each of whom are independent “qualified persons”
as defined by NI 43-101.
Clifford Krall, P.E., who is the Mine Engineering Manager for
NOVAGOLD and a “qualified person” under NI 43‑101, has
reviewed and approved the information contained related to the
Donlin Gold drilling program and other scientific and technical
information related to the Donlin Gold project contained in this
media release.
Jay Olcott, SME Registered Member, who is a Barrick Project
Manager and a “qualified person” under NI 43‑101 has reviewed
and approved the assay results for the Donlin Gold project
contained in this media release.
Barrick Contacts:Kathy du PlessisInvestor and
Media Relations+44 20 7557 7738Email: barrick@dpapr.com
Catherine RawCOO, North AmericaTel: +1 416 307 5157Email:
craw@barrick.comwww.barrick.com
NOVAGOLD Contacts:
Mélanie Hennessey Vice President, Corporate Communications Jason
Mercier Manager, Investor Relations
Tel: +1 604-669-6227 or 1-866-669-6227www.novagold.com
APPENDIX
TABLE 22020 Donlin Gold Significant
Assay Intervals
Hole ID |
Area |
From(Meters) |
To(Meters) |
Length(Meters) |
Au Grade (g/t) |
DC20-1865 |
ACMA |
136.75 |
149.16 |
12.41 |
4.91 |
DC20-1865 |
|
155.50 |
174.21 |
18.71 |
2.03 |
DC20-1865 |
|
200.22 |
213.57 |
13.35 |
2.97 |
DC20-1865 |
|
TOTAL |
|
44.47 |
3.12 |
DC20-1866 |
ACMA |
14.00 |
17.82 |
3.82 |
3.48 |
DC20-1866 |
|
35.39 |
81.30 |
45.91 |
5.03 |
including |
|
63.35 |
75.30 |
11.95 |
10.44 |
DC20-1866 |
|
98.25 |
103.42 |
5.17 |
7.01 |
DC20-1866 |
|
108.30 |
131.66 |
23.36 |
4.15 |
DC20-1866 |
|
208.44 |
221.61 |
13.17 |
4.69 |
DC20-1866 |
|
226.53 |
256.81 |
30.28 |
4.20 |
DC20-1866 |
|
266.00 |
276.76 |
10.76 |
4.72 |
DC20-1866 |
|
281.33 |
285.57 |
4.24 |
1.83 |
DC20-1866 |
|
291.00 |
296.86 |
5.86 |
5.61 |
DC20-1866 |
|
TOTAL |
|
142.57 |
4.61 |
DC20-1867 |
ACMA |
23.20 |
28.04 |
4.84 |
7.37 |
DC20-1867 |
|
66.14 |
70.74 |
4.60 |
5.90 |
DC20-1867 |
|
92.68 |
104.00 |
11.32 |
6.17 |
DC20-1867 |
|
TOTAL |
|
20.76 |
6.39 |
DC20-1868 |
ACMA |
115.51 |
125.74 |
10.23 |
4.13 |
DC20-1868 |
|
243.48 |
247.19 |
3.71 |
1.92 |
DC20-1868 |
|
TOTAL |
|
13.94 |
3.54 |
DC20-1869 |
ACMA |
10.80 |
16.15 |
5.35 |
3.22 |
DC20-1869 |
|
33.30 |
43.30 |
10.00 |
2.68 |
DC20-1869 |
|
49.30 |
58.83 |
9.53 |
3.86 |
DC20-1869 |
|
128.19 |
137.60 |
9.41 |
3.08 |
DC20-1869 |
|
TOTAL |
|
34.29 |
3.20 |
DC20-1870 |
ACMA |
156.66 |
164.60 |
7.94 |
4.24 |
DC20-1870 |
|
173.10 |
180.80 |
7.70 |
7.53 |
DC20-1870 |
|
TOTAL |
|
15.64 |
5.86 |
DC20-1871 |
ACMA |
12.80 |
20.80 |
8.00 |
4.01 |
DC20-1871 |
|
30.35 |
72.26 |
41.91 |
11.61 |
including |
|
38.24 |
42.24 |
4.00 |
17.00 |
including |
|
55.78 |
62.26 |
6.48 |
38.77 |
DC20-1871 |
|
341.67 |
347.44 |
5.77 |
1.00 |
DC20-1871 |
|
TOTAL |
|
55.68 |
9.42 |
DC20-1872 |
Lewis |
163.82 |
167.70 |
3.88 |
4.39 |
DC20-1872 |
|
290.62 |
294.58 |
3.96 |
3.17 |
DC20-1872 |
|
TOTAL |
|
7.84 |
3.78 |
DC20-1873 |
Lewis |
42.90 |
53.74 |
10.84 |
4.36 |
DC20-1873 |
|
60.88 |
68.54 |
7.66 |
18.40 |
including |
|
63.16 |
68.54 |
5.38 |
25.26 |
DC20-1873 |
|
TOTAL |
|
18.50 |
10.17 |
Significant intervals represent drilled intervals and not
necessarily true thickness of mineralization. Mineralized intervals
meet or exceed 3 meters in length above 1 g/t. A maximum of 4
meters of continuous dilution (<1 g/t) is permitted. Any
drill intervals not depicted in this table did not meet the
significant interval criteria. Assay data are not yet available
from 370.2m to 458.4m in DC20-1871, from 0.0m to 111.3m and 338.5m
to 632.8m in DC20-1872, and from 228.5m to 274.9m in DC20-1873.
Cautionary Note Regarding Forward-Looking
Statements
This media release includes certain “forward-looking
information” and “forward-looking statements” (collectively
“forward-looking statements”) within the meaning of applicable
securities legislation, including the United States Private
Securities Litigation Reform Act of 1995. Forward-looking
statements are frequently, but not always, identified by words such
as “expects”, “anticipates”, “believes”, “intends”, “estimates”,
“potential”, “possible”, and similar expressions, or statements
that events, conditions, or results “will”, “may”, “could”, “would”
or “should” occur or be achieved. Forward-looking statements are
necessarily based on several opinions, estimates and assumptions
that management of Barrick and NOVAGOLD considered appropriate and
reasonable as of the date such statements are made, are subject to
known and unknown risks, uncertainties, assumptions and other
factors that may cause the actual results, activity, performance or
achievements to be materially different from those expressed or
implied by such forward-looking statements. All statements, other
than statements of historical fact, included herein are
forward-looking statements. These forward-looking statements
include statements regarding anticipated benefits from the 2020
drill program including an improved geological model for Donlin
Gold; ongoing support provided to key stakeholders including Native
Corporation partners; the potential impact of the COVID-19 pandemic
on the development of Donlin Gold; the potential development and
construction of Donlin Gold; the sufficiency of funds to continue
to advance development of Donlin Gold; perceived merit of
properties; mineral reserve and resource estimates; and future
share price performance of Barrick and NOVAGOLD. In addition, any
statements that refer to expectations, intentions, projections or
other characterizations of future events or circumstances are
forward-looking statements. Forward-looking statements are not
historical facts but instead represent Barrick’s and NOVAGOLD’s
management expectations, estimates and projections regarding future
events or circumstances on the date the statements are made.
Important factors that could cause actual results to differ
materially from expectations include the need to obtain additional
permits and governmental approvals; the timing and likelihood of
permits including the ROW lease offer for the project’s buried
natural gas pipeline; the need for additional financing to explore
and develop properties and availability of financing in the debt
and capital markets; the outbreak of the coronavirus global
pandemic (COVID-19); uncertainties involved in the interpretation
of drill results and geological tests and the estimation of
reserves and resources; changes in mineral production performance,
exploitation and exploration successes; changes in national and
local government legislation, taxation, controls or regulations
and/or changes in the administration of laws, policies and
practices, expropriation or nationalization of property and
political or economic developments in the United States or Canada;
the need for continued cooperation between Barrick and NOVAGOLD for
the continued exploration, and development and eventual
construction of the Donlin Gold property; the need for cooperation
of government agencies and native groups in the development and
operation of properties; risks of construction and mining projects
such as accidents, equipment breakdowns, bad weather, disease
pandemics, non-compliance with environmental and permit
requirements, unanticipated variation in geological structures, ore
grades or recovery rates; unexpected cost increases, which could
include significant increases in estimated capital and operating
costs; fluctuations in metal prices and currency exchange rates;
whether a positive construction decision will be made regarding
Donlin Gold; and other risks and uncertainties disclosed in
Barrick’s most recent Form 40-F/Annual Information Form
on file with the SEC and Canadian provincial securities regulatory
authorities and NOVAGOLD’s most recent reports on Forms 10-K and
10-Q, particularly the "Risk Factors" sections of those reports and
other documents filed by Barrick and NOVAGOLD with applicable
securities regulatory authorities from time to time. Copies of
these filings may be obtained by visiting Barrick’s and NOVAGOLD’s
Investor Relations website at www.barrick.com and www.novagold.com,
respectively, or the SEC's website at www.sec.gov or at
www.sedar.com. The forward-looking statements contained herein
reflect the beliefs, opinions and projections of Barrick and
NOVAGOLD on the date the statements are made. Barrick and NOVAGOLD
assume no obligation to update the forward-looking statements of
beliefs, opinions, projections, or other factors, should they
change, except as required by law.
Cautionary Note to United States Investors
NOVAGOLD cautions that this media release has been prepared in
accordance with the requirements of the securities laws in effect
in Canada, which differ from the requirements of U.S. securities
laws. Unless otherwise indicated, all resource and reserve
estimates included in this media release have been prepared in
accordance with Canadian National Instrument 43-101 Standards of
Disclosure for Mineral Projects (“NI 43-101”) and the Canadian
Institute of Mining, Metallurgy and Petroleum (CIM)—CIM Definition
Standards on Mineral Resources and Mineral Reserves, adopted by the
CIM Council, as amended (“CIM Definition Standards”). NI 43-101 is
a rule developed by the Canadian Securities Administrators which
establishes standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral projects.
Canadian standards, including NI 43-101, differ significantly from
the requirements of the United States Securities and Exchange
Commission (SEC) Industry Guide 7 (“SEC Industry Guide 7”), and
resource and reserve information contained herein may not be
comparable to similar information disclosed by U.S. companies.
NOVAGOLD’s disclosure concerning Reserve & Resources Estimates
remains consistent with NI 43-101. Under SEC Industry Guide 7,
mineralization may not be classified as a "reserve” unless the
determination has been made that the mineralization could be
economically and legally produced or extracted at the time the
reserve determination is made. SEC Industry Guide 7 normally does
not permit the inclusion of information concerning "measured
mineral resources”, "indicated mineral resources” or "inferred
mineral resources” or other descriptions of the amount of
mineralization in mineral deposits that do not constitute
"reserves” under SEC Industry Guide 7 in documents filed with the
SEC. Investors should also understand that "inferred mineral
resources” have a great amount of uncertainty as to their existence
and great uncertainty as to their economic and legal feasibility.
Under Canadian rules, estimated "inferred mineral resources” may
not form the basis of feasibility or pre-feasibility studies except
in rare cases. Disclosure of "contained ounces” in a resource is
permitted disclosure under Canadian regulations; however, the SEC
normally only permits issuers to report mineralization that does
not constitute "reserves” under SEC Industry Guide 7 as in-place
tonnage and grade without reference to unit measures. The
requirements of NI 43-101 for identification of "reserves” are also
not the same as those of SEC Industry Guide 7, and reserves
reported by NOVAGOLD in compliance with NI 43-101 may not qualify
as "reserves” under SEC Industry Guide 7. Donlin Gold does not have
known reserves, as defined under SEC Industry Guide 7. Accordingly,
information concerning mineral deposits set forth herein may not be
comparable with information made public by companies that report in
accordance with SEC Industry Guide 7.
On October 31, 2018, the SEC adopted a final rule (“New Final
Rule”) that will replace SEC Industry Guide 7 with new disclosure
requirements that are more closely aligned with current industry
and global regulatory practices and standards, including NI 43-101.
Companies must comply with the New Final Rule for the Company’s
first fiscal year beginning on or after January 1, 2021, which for
NOVAGOLD would be the fiscal year beginning December 1, 2021. The
New Final Rule provides that SEC Industry Guide 7 will remain
effective until all registrants are required to comply with the New
Final Rule, at which time SEC Industry Guide 7 will be rescinded.
While early voluntary compliance with the New Final Rule is
permitted, NOVAGOLD has not elected to comply with the New Final
Rule at this time.
1 Top Tier Jurisdictions are deemed “low risk” by the Investment
Attractiveness Index in the Fraser Institute Annual Survey of
Mining Companies, 2019.
2 Donlin Gold data as per the Second Updated
Feasibility Study (as defined below). Donlin Gold measured
resources of approximately 8 Mt grading 2.52 g/t and indicated
resources of approximately 534 Mt grading 2.24 g/t, each on a 100%
basis, of which Barrick and NOVAGOLD each own 50%. Mineral
resources have been estimated as at December 31, 2019 in accordance
with National Instrument 43-101 – Standards of Disclosure for
Mineral Projects (“NI 43-101”).
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