NOVAGOLD and Paulson Strengthen Commitment to Donlin Gold
Strengthening Partnerships for Donlin Gold Development
Meetings with Alaska Native Corporations and government officials have highlighted positive strides in the Donlin Gold project. The recent workshop gathered key stakeholders to discuss the updated project development plan, boosting confidence among all involved parties.
Advancements in Project Planning
NOVAGOLD RESOURCES INC. (“NOVAGOLD”) and Paulson Advisers LLC have announced a significant contract to start preparing the Request for Proposals (RFP) aimed at initiating an updated Bankable Feasibility Study (BFS). This study is essential for evaluating the potential of the Donlin Gold project, with an expectation of selecting top-tier engineering firms by the end of 2025.
Natural Gas Initiatives
Constructive discussions have been held with natural gas pipeline developers regarding options to supply natural gas to Southcentral Alaska. This would not only benefit Donlin Gold but also support local communities with energy needs.
Recruiting for Project Development
As part of its commitment, Donlin Gold has identified hiring priorities and begun recruiting efforts to fill essential roles necessary for supporting the project's advancement. This strategic initiative will ensure that the right talent is in place to facilitate the growth and development of this significant project.
Local Engagement and Community Focus
A highlight of the recent site visit was the engagement with local representatives from the Calista Corporation and The Kuskokwim Corporation (TKC), reinforcing relationships and collaboration. The efforts to foster these engagements reflect the owners’ dedication to the community and commitment to honoring traditional values while advancing the project responsibly.
Acknowledging Local Partnerships
Dr. Thomas S. Kaplan, NOVAGOLD’s Chairman, expressed excitement about the collaboration with prominent shareholders and local stakeholders during the site visit. The company affirms its commitment to responsibly advancing what could become one of America’s largest gold mines while respecting the interests of all involved.
Governmental Collaboration
Moreover, meetings with key government officials, including the Governor of Alaska and other leaders, showcased the state's support for Donlin Gold. Alaska, being the second-largest gold-producing state, presents a unique opportunity for the development of the project, aligning perfectly with NOVAGOLD's strategic vision.
Ongoing Project Updates
As Donlin Gold progresses through this crucial phase toward a construction decision, it remains focused on transparency and open communications during the RFP selection process. The project also recently completed a significant 15,000-meter drill program aimed at enhancing the understanding of resource and reserve estimates, with updates anticipated shortly.
Commitment to Quality and Responsibility
The owners have also approved an additional 3,000 meters for geotechnical drilling, further solidifying their investment in the project's future. By maintaining high standards for all project phases, they aim to ensure the development aligns with best practices in environmental management and community engagement.
About NOVAGOLD
NOVAGOLD is dedicated to developing the Donlin Gold project, renowned for its substantial gold reserves. Approximately 39 million ounces of gold are categorized in the Measured and Indicated Mineral Resource categories, making Donlin Gold one of the largest, highest-grade open-pit gold deposits globally. As per estimates, the project could produce over a million ounces annually for nearly three decades once production commences.
Frequently Asked Questions
What is the current status of the Donlin Gold project?
The Donlin Gold project is progressing towards a Bankable Feasibility Study, with contracts awarded to select engineering firms by fourth quarter 2025.
How is NOVAGOLD engaging with local communities?
NOVAGOLD is actively working with Alaska Native Corporations and local stakeholders to ensure that community interests are heard and respected throughout the project's development.
What are the hiring priorities for Donlin Gold?
Donlin Gold has identified critical roles needed to support development and is actively recruiting for these positions.
What role does natural gas play in the project?
Discussions with natural gas developers are underway, aiming to supply natural gas to Southcentral Alaska, enhancing project infrastructure and community utility.
How does the project align with environmental standards?
Donlin Gold is committed to adhering to the highest environmental and safety standards, ensuring responsible resource development while respecting local communities and ecosystems.
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