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Form 8-K NOVAGOLD RESOURCES INC For: Jul 28

July 28, 2022 5:11 PM EDT

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 8-K
CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report: July 28, 2022 (Date of earliest event reported)

 

NOVAGOLD RESOURCES INC.
(Exact Name of Registrant as Specified in Its Charter)

 

British Columbia 001-31913 N/A
(State of Incorporation) (Commission File Number) (I.R.S. Employer Identification)

 

201 South Main Street, Suite 400, Salt Lake City, Utah 84111

(Address of principal executive offices) (Zip Code)

 

(801) 639-0511

(Registrant’s Telephone Number, Including Area Code)

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered

Common Shares

NG

NYSE American

Toronto Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

Item 7.01 Regulation FD

 

On July 28, 2022, NOVAGOLD RESOURCES INC. (“NOVAGOLD”) issued a joint press release with Donlin Gold LLC and Barrick Gold Corporation (“Barrick”) reporting assay results from a drill program that NOVAGOLD and Barrick, co-owners of Donlin Gold LLC, commenced in 2022 to validate recent geological and resource modeling controls developed by the co-owners at the Donlin Gold project. A copy of the press release is furnished as Exhibit 99.1 to this report and incorporated herein by reference.

 

The information contained in the press release attached hereto is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits

 

Exhibit Number Description
99.1 Press release dated July 28, 2022 issued by NOVAGOLD RESOURCES INC. entitled “Donlin Gold Reports Excellent Initial 2022 Drill Program Results Yielding Encouraging Assays With More High-Grade Gold Intercepts Coupled With Important Grade Continuity.”
104 Cover Page Interactive Data File – The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

 

 

 

 

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Dated: July 28, 2022 NOVAGOLD RESOURCES INC.  
       
  By: /s/ Gregory A. Lang  
    Gregory A. Lang  
    President and Chief Executive Officer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit 99.1

 

 

 

 

DONLIN GOLD REPORTS EXCELLENT INITIAL 2022 DRILL PROGRAM RESULTS

 

YIELDING ENCOURAGING ASSAYS WITH MORE HIGH-GRADE GOLD INTERCEPTS COUPLED WITH IMPORTANT GRADE CONTINUITY

 

July 28, 2022 – Anchorage, AK – Donlin Gold LLC (“Donlin Gold”), owned 50/50 by Barrick Gold Corporation (“Barrick”) (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. (“NOVAGOLD”) (TSX, NYSE American: NG), is pleased to report the initial assay results for the 2022 drill program.

 

The drill program is progressing ahead of schedule with 26,800 meters of the originally planned 34,000-meter drill program completed to date, and assay results received from approximately 9,870 meters of drilling. The results support the recent modelling concepts, and strategic mine planning work.

 

The site crew (150 employees, contractors, and student interns), a majority of which are local hires representing 24 Yukon-Kuskokwim (Y-K) communities in Alaska, are working on a two-week rotation schedule and continue to advance project activities at a good pace.

 

With the largest budget in more than a decade, the owners are advancing the Donlin Gold project up the value chain and are working toward a feasibility study decision, subject to Donlin Gold LLC Board approval.

 

A workshop with Barrick and NOVAGOLD will take place in September at the Donlin Gold project in Alaska to review the work completed to date and lay the path forward.

 

Statements by the Owners

 

Barrick President and Chief Executive Mark Bristow said, “as expected, the drill program for 2022 continues to enhance our understanding of the ore bodies that make up the Donlin project. Also encouraging is that this year’s drilling campaign is ahead of schedule and results so far support the most recent modelling concepts as we focus on moving the project toward a feasibility study decision. I look forward to the Donlin Gold workshop in Alaska in September to advance these efforts.”

 

Greg Lang, NOVAGOLD’s President and CEO, said, “The 2022 drill program has been extremely exciting, not to mention rewarding. With the latest set of assays, we continue to enjoy some of the best gold intercepts in the mining industry. The outstanding results reported today, such as the high-grade at ACMA and the deep exploration work, further substantiate Donlin Gold’s potential, and the recent modelling concepts, in support of the strategic mine planning work and the engineering studies. We have significantly de-risked Donlin Gold over many years, taking it up the value chain so as to improve and enhance the value of the project for all our stakeholders. This progress is demonstrated through our commitment and dedication to building trust and transparency with our Alaska Native Corporation partners, Calista Corporation and The Kuskokwim Corporation, with whom we have created a model for responsible mining development.”

 

Dan Graham, General Manager of Donlin Gold added, “Donlin Gold’s top priorities continue to be the health and safety of our people following the best practices in environmental stewardship for the benefit of the people of Alaska. We could not be more pleased with the work of our 2022 Donlin Gold site crew. While exceeding productivity rates and running ahead of schedule, the overall morale of employees has been high and our safety record has remained strong. Moreover, we are most gratified to report that, during the program, the majority of our 150 employees and contractors were local hires from 24 Y-K communities in Alaska.”

 

 

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Delivering Results

 

The prime focus of our activities this year is to undertake a 34,000-meter drill program with tight-spaced grid drilling as well as in-pit and ex-pit exploration; and to input the results from this drilling into the geologic modelling and interpretation work that is being used for updated resource models. In June, the Donlin Gold LLC Board approved an additional 43 drill holes and 8,380 meters to infill one of the 20-meter grids to 10-meter spacing. In addition to the engineering studies underway to support the mining schedules and life of mine business plans, this program will enable us to proceed with the preparation of an updated feasibility study, subject to a formal decision by the Donlin Gold LLC Board.

 

Following the excellent results of 2021, we are encouraged by the expanded drill program for 2022, with drilling also focused on upside prospects in the ACMA and Lewis pits where drilling so far has been limited. The new assays we received have thus far yielded some outstanding intercepts, with the five top intervals released today being:

 

DC22-2040 intersected 52.27 m grading 14.63 g/t gold starting at 232.95 m drilled depth, including sub intervals of 13.94 m grading 33.95 g/t gold starting at 232.95 m drilled depth and 16.45 m grading 13.50 g/t gold starting at 257.18 m drilled depth;

 

DC22-2040 intersected 18.65 m grading 10.78 g/t gold starting at 197.60 m drilled depth, including a sub interval of 7.68 m grading 19.69 g/t gold starting at 199.35 m drilled depth;

 

DC22-2056 intersected 73.98 m grading 4.21 g/t gold starting at 99.82 m drilled depth, including a sub interval of 6.16 m grading 18.20 g/t gold starting at 109.12 m drilled depth;

 

DC22-2063 intersected 12.10 m grading 22.15 g/t gold starting at 130.04 m drilled depth, including a sub interval of 5.43 m grading 47.17 g/t starting 135.48 m drilled depth; and

 

DC22-2067 intersected 44.58 m grading 4.50 g/t gold starting at 464.06 m drilled depth, including sub intervals of 3.11 m grading 10.79 g/t gold starting at 464.06 m drilled depth and 6.35 m grading 10.26 g/t gold starting at 496.00 m drilled depth.

 

Drill-hole collar locations and five of the top intervals are shown in Figure 1.

 

Drill-hole orientations, depths and significant intervals are shown in Tables 1 and 2, respectively, in the Appendix at the end of this release.

 

DC22-2063 interval is subparallel to a mineralized fault zone and mineralized dyke.

 

DC22-2067 interval is subparallel to a mineralized fault zone.

 

The team of 150 people at Donlin Gold are advancing drilling activities at a fine pace, with the drilling expected to wrap-up in the fall. The health and safety of our workforce is a priority. Donlin Gold has implemented strict safety protocols, while COVID-19 mitigation measures remain in place to ensure that the staff rotations in and out of the camp are conducted in both an efficient and safe manner.

 

Donlin Gold 2022 Project Budget

 

The 2022 budget for Donlin Gold LLC (on a 100% basis) is set at $60 million, split equally between the two owners. The focus is to refresh geologic modelling and interpretation work for an updated resource model as well as engineering activities to inform an updated feasibility study decision. Approximately 34,000 meters of in-pit and below-pit drilling was planned under the original scope, in addition to fieldwork, for the Alaska Dam Safety Certifications, environmental studies, and external affairs efforts. An additional $4.8 million (100% basis) was approved by the Donlin Gold LLC Board for the additional 8,380 drill meter workplan.

 

 

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The owners will continue to advance the Donlin Gold project as they have done for many years in a financially disciplined manner with a clear focus on a strong safety culture, engineering excellence, environmental stewardship, and active community engagement.

 

About Donlin Gold

 

The Donlin Gold project is located in Alaska, the second largest gold-producing state in the United States. With approximately 39 million ounces of gold grading 2.24 grams per tonne in the measured and indicated mineral resource categories (100 percent basis)1, Donlin Gold hosts one of the largest and highest-grade undeveloped open-pit gold endowments in the world. The planned pits in which the existing resources are sited 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, community outreach, and advancing the remaining State permitting actions.

 

Donlin Gold is a committed partner to the Alaska Native communities both surrounding the project and within the State as a whole. This commitment underpins our approach and is also reflected in the way in which the asset itself is structured. An important factor that distinguishes Donlin Gold from most other mining assets in Alaska is that the project is located on private land designated for mining activities under the 1971 Alaska Native Claims Settlement Act (ANCSA). Donlin Gold has entered into life-of-mine agreements with Calista, which owns the subsurface mineral rights and some surface land rights, and The Kuskokwim Corporation (TKC), a collection of 10 village corporations, which owns the majority of surface land rights. Donlin Gold is committed to providing employment opportunities, scholarships, and preferential contract considerations to Calista and TKC shareholders. The life-of-mine agreements include a revenue-sharing structure established in the context of the ANCSA, which resolved Alaska Native land claims and allotted some 44 million acres of land for use by Alaska Native Corporations. Additionally, our long-term commitment to economic development in the Y-K region is exemplified by Donlin Gold’s support of TKC’s initiative to launch energy and infrastructure projects in middle Kuskokwim villages. These partnerships, activities, and programs are illustrative of Donlin Gold’s commitment to sustainable and responsible development of the project for the benefit of all stakeholders.

 

 

 

______________________________

 

1 Donlin Gold data as per the 2021 Technical Report and S-K 1300 Report (both as defined herein). Donlin Gold possesses 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 and inclusive of Mineral Reserves, of which approximately 4 Mt of Measured Resources and approximately 267 Mt of Indicated Resources inclusive of Reserves is attributable to NOVAGOLD through its 50% ownership interest in Donlin Gold LLC. Exclusive of Mineral Reserves, Donlin Gold possesses Measured Resources of approximately 1 Mt grading 2.23 g/t and Indicated Resources of approximately 69 Mt grading 2.44 g/t, of which approximately 0.5 Mt of Measured Resources and approximately 35 Mt of Indicated Resources exclusive of Mineral Reserves is attributable to NOVAGOLD. Donlin Gold possesses Proven Reserves of approximately 8 Mt grading 2.32 g/t and Probable Reserves of approximately 497 Mt grading 2.08 g/t, each on a 100% basis, of which approximately 4 Mt of Proven Reserves and approximately 249 Mt of Probable Reserves is attributable to NOVAGOLD. Mineral Reserves and Resources have been estimated in accordance with NI 43-101 and S-K 1300.

 

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FIGURE 1 Drill Hole Collar Locations

 

 

 

Depicted grid system is based on NAD83 UTM zone 4N coordinates. Longitudinal Section View orientation below taken at A – A’ orientation depicted above.

 

 

 

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FIGURE 2 Longitudinal Section View of the ACMA and Lewis Deposits

 

 

 

QA/QC Procedures

 

The QA/QC procedures for the 2022 Donlin Gold project drill program and sampling protocol were developed and managed by Donlin Gold 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 94% core recovery has been achieved during the 2022 drill program. Core was logged, cut, and sampled at site by Donlin Gold employees. Samples were primarily collected on one- to two-meter lengths. Sampled half-core was crushed in Bureau Veritas’ Juneau and Fairbanks, Alaska sample preparation facilities. Crushed samples were sent to Bureau Veritas’ lab in Vancouver, British Columbia for pulverizing and gold assays and pulverized splits to an ALS Limited lab in Vancouver, British Columbia for multi-element analysis. Quality control samples were inserted (standards at 5% of primary samples, blanks at 5% of primary samples and duplicates at 2.5% of primary samples) into each batch of samples. The review of the quality control samples did not indicate any bias or error. Out of bounds quality control samples were handled with appropriate reruns and investigations. There are no known factors that would materially affect the accuracy or reliability of the drill program data referred to in this media release.

 

Downhole directional surveys were completed on all reported completed holes by Boart Longyear drill operators, and collar surveys were completed by Donlin Gold staff under the supervision of Professional Licensed Surveyors from Brice Engineering LLC.

 

Each of Bureau Veritas, ALS Limited, Boart Longyear, and Brice Engineering LLC are independent of Donlin Gold, Barrick, and NOVAGOLD.

 

Scientific and Technical Information

 

In mid-2021, NOVAGOLD engaged Wood Canada Limited (“Wood”) to update the Second Updated Feasibility Study on Donlin Gold completed in 2011 (the “2011 Technical Report”). This update resulted in a report titled “NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA” with an effective date of June 1, 2021 (the “2021 Technical Report”). In 2021, NOVAGOLD also engaged Wood to prepare a Donlin Gold technical report summary in accordance with Subpart 229.1300 of Regulation S-K – Disclosure by Registrants Engaged in Mining Operations (“S-K 1300”) as of November 30, 2021. The resulting report is titled “S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA” (“S-K 1300 Report”), current as of November 30, 2021. Wood incorporated 2020 costs and new gold price guidance to meet the NOVAGOLD’s reporting requirements. The resultant 2021 Technical Report and S-K 1300 Report showed no material change to the previously reported mineral resources or mineral reserves.

 

 

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NOVAGOLD is a registrant with the SEC and is reporting its Mineral Resources and Mineral Reserves in accordance with S-K 1300 as of November 30, 2021. While the S-K 1300 rules are similar to National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) rules in Canada, they are not identical and therefore two reports have been produced for the Donlin Gold project.

 

Certain scientific and technical information contained herein with respect to the Donlin Gold project is derived from the 2021 Technical Report and the S-K 1300 Report. Henry Kim, P.Geo., Senior Resource Geologist, Wood Canada Limited; Mike Woloschuk, P.Eng., VP Global Business Development & Consulting, Wood Group USA, Inc.; and Kirk Hanson, MBA, P.E., Technical Director, Open Pit Mining, Wood Group USA, Inc. are the Qualified Persons responsible for the preparation of the 2021 Technical Report, and each is an independent Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). Wood prepared the S-K 1300 Report.

 

Paul Chilson, P.E., who is the Manager of Mine Engineering for NOVAGOLD and a Qualified Person under NI 43-101, has approved and verified the scientific and technical information related to the 2021 and 2022 Donlin Gold project drill programs, the 2021 Technical Report and the S-K 1300 Report contained in this media release. To verify the information related to the drilling programs, he has visited the property in the past year; discussed logging, sampling, and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations.

 

Octavia Bath, P.Geo., who is a Barrick Mineral Resource 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 Plessis

Investor and Media Relations

+44 20 7557 7738

Email: [email protected]

 
Kevin Annett

CFO, North America

Tel: +1 416-307-3660

www.barrick.com

 


NOVAGOLD Contacts:

 

Mélanie Hennessey
Vice President, Corporate Communications

Tel: +1 604-669-6227 or 1-866-669-6227

Email: [email protected]

www.novagold.com

 

 

 

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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 assay results; the anticipated timing of a decision by the Board of Donlin Gold LLC to prepare a feasibility study update; anticipated benefits from recent drill programs including an improved geological model for Donlin Gold; the work program for the 2022 field season; the continuing priorities of Donlin Gold, including the health and safety of our people; ongoing support provided to key stakeholders including Native Corporation partners; the potential impact of the coronavirus global pandemic (COVID-19) 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; Donlin Gold’s ability to secure the permits needed to construct and operate the Donlin Gold project in a timely manner, if at all; and legal challenges to Donlin Gold’s existing permits. 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 the management expectations of Donlin Gold’s, Barrick’s and NOVAGOLD’s 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 securing permits; the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; the spread and impact of COVID-19; uncertainties involved in the interpretation of drill results and geological tests and the estimation of reserves and resources; 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, development and eventual construction of the Donlin Gold project; 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 United States Securities and Exchange Commission (SEC) and Canadian provincial securities 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 NOVAGOLD’s website at www.novagold.com, Barrick’s website at www.barrick.com, 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 Donlin Gold, NOVAGOLD, and Barrick on the date the statements are made. Donlin Gold, NOVAGOLD and Barrick assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

 

 

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APPENDIX

 

TABLE 1

Drill Hole Orientations* and Depths

 

HOLE Azimuth (°) Inclination (°) Depth (m)
DC22-2033 331 61 254.51
DC22-2034 331 62 287.43
DC22-2035 238 45 877.52
DC22-2036 328 59 245.06
DC22-2037 335 59 289.86
DC22-2038 331 61 248.72
DC22-2039 331 56 289.26
DC22-2040 333 60 309.37
DC22-2041 331 61 261.82
DC22-2042 336 58 264.57
DC22-2043 329 60 230.12
DC22-2044 331 59 288.34
DC22-2045 331 60 224.94
DC22-2046 333 60 239.57
DC22-2047 331 59 230.12
DC22-2048 331 61 166.73
DC22-2049 331 61 145.24
DC22-2050 333 59 219.46
DC22-2051 242 52 851.61
DC22-2052 335 61 139.90
DC22-2053 334 59 292.91
DC22-2054 334 60 188.37
DC22-2055 335 62 215.19
DC22-2056 334 60 184.40
DC22-2057 335 59 244.45
DC22-2058 332 61 196.90
DC22-2059 339 60 234.85
DC22-2060 330 59 157.28
DC22-2061 331 59 247.80
DC22-2062 332 60 239.88
DC22-2063 334 58 300.38
DC22-2064 334 58 230.12
DC22-2065 332 59 225.55
DC22-2066 334 59 225.55
DC22-2067 246 52 777.54
DC22-2068 333 62 240.18
DC22-2069 333 61 260.60
DC22-2070 332 60 240.79
DC22-2071 330 61 225.55
DC22-2072 333 59 223.88

 

 

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DC22-2073 330 61 233.17
DC22-2074 332 61 240.03
DC22-2075 330 59 233.78
DC22-2076 333 60 227.99
DC22-2077 330 61 211.68
DC22-2078 333 59 230.12
DC22-2079 334 61 235.00
DC22-2080 332 58 256.34
DC22-2081 332 59 239.88
DC22-2082 245 54 789.43
DC22-2083 328 64 220.07
DC22-2084 335 62 209.09
DC22-2085 334 57 249.94
DC22-2086 334 58 210.31
DC22-2087 332 56 220.37
DC22-2088 334 59 219.46
DC22-2089 332 59 243.84
DC22-2090 330 58 220.07
DC22-2091 334 60 260.30
DC22-2092 333 59 225.55
DC22-2093 334 59 235.00
DC22-2094 327 63 915.10
DC22-2095 335 58 199.95
DC22-2096 332 60 275.84
DC22-2097 256 70 483.11
DC22-2098 337 58 199.95
DC22-2099 333 58 227.38
DC22-2100 334 57 216.56
DC22-2101 311 64 522.43
DC22-2102 331 60 227.08
DC22-2103 330 61 291.08
DC22-2104 330 60 239.57
DC22-2105 336 59 275.84
DC22-2106 324 62 920.95
DC22-2107 334 60 265.18
DC22-2108 294 67 557.78
DC22-2109 334 62 303.28
DC22-2110 331 61 289.56
DC22-2111 332 61 245.36
DC22-2113 334 63 259.99
DC22-2114 334 61 256.95
DC22-2115 334 60 311.05

 

* Note that azimuth and inclination values vary as each hole progresses. The stated values are hole averages, rounded to the nearest degree.

 

 

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TABLE 2

2021 Donlin Gold Significant Assay Intervals

 

Hole ID Area

From

(Meters)

To

(Meters)

Length

(Meters)

Au Grade (g/t)
DC22-2033 ACMA  33.04  36.50  3.46  1.24
DC22-2033    42.17  50.01  7.84  2.79
DC22-2033    105.65  126.32  20.67  2.76
DC22-2033    172.08  176.43  4.35  1.03
DC22-2033    185.79  189.64  3.85  1.87
DC22-2033    TOTAL     40.17  2.36
DC22-2034 ACMA 44.35 48.16 3.81 1.78
DC22-2034   116.29 129.32 13.03 6.40
including   121.31 127.97 6.66 10.51
DC22-2034   140.80 145.80 5.00 10.39
DC22-2034   208.38 220.88 12.50 2.18
DC22-2034   TOTAL   34.34 4.93
DC22-2035 ACMA 433.53 440.95 7.42 6.30
DC22-2035   651.24 682.65 31.41 3.81
DC22-2035   751.88 756.10 4.22 8.15
DC22-2035   TOTAL   43.05 4.67
DC22-2036 ACMA 137.33 144.48 7.15 3.39
DC22-2036   152.57 159.29 6.72 2.94
DC22-2036   TOTAL   13.87 3.17
DC22-2037 ACMA 109.24 119.58 10.34 3.07
DC22-2037   TOTAL   10.34 3.07
DC22-2038 ACMA 114.50 126.63 12.13 3.24
DC22-2038   185.16 190.15 4.99 4.90
DC22-2038   TOTAL   17.12 3.72
DC22-2039 ACMA 122.46 126.13 3.67 3.46
DC22-2039   TOTAL   3.67 3.46
DC22-2040 ACMA 97.26 105.21 7.95 2.77
DC22-2040   114.45 122.41 7.96 1.50
DC22-2040   139.25 154.84 15.59 3.64
DC22-2040   197.60 216.25 18.65 10.78
including   199.35 207.03 7.68 19.69
DC22-2040   232.95 285.22 52.27 14.63
including   232.95 246.89 13.94 33.95
including   257.18 273.63 16.45 13.50
DC22-2040   TOTAL   102.42 10.31
DC22-2041 ACMA 75.03 81.99 6.96 4.60
DC22-2041   86.43 101.36 14.93 1.82
DC22-2041   105.74 113.42 7.68 4.43
DC22-2041   174.29 187.45 13.16 7.47
DC22-2041   TOTAL   42.73 4.48

 

 

 

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DC22-2042 ACMA 19.80 34.44 14.64 3.09
DC22-2042   95.10 102.28 7.18 3.71
DC22-2042   152.80 162.62 9.82 2.93
DC22-2042   168.21 187.81 19.60 4.06
DC22-2042   196.04 205.46 9.42 5.22
DC22-2042   TOTAL   60.66 3.78
DC22-2043 ACMA 49.61 58.38 8.77 7.23
DC22-2043   144.97 168.48 23.51 6.20
DC22-2043   TOTAL   32.28 6.48
DC22-2044 ACMA 26.21 30.14 3.93 2.78
DC22-2044   157.31 166.42 9.11 3.62
DC22-2044   171.95 176.69 4.74 4.55
DC22-2044   TOTAL   17.78 3.69
DC22-2045 ACMA 12.53 18.23 5.70 3.95
DC22-2045   41.42 58.40 16.98 1.56
DC22-2045   63.84 73.05 9.21 2.40
DC22-2045   128.03 133.50 5.47 3.18
DC22-2045   138.75 146.20 7.45 1.74
DC22-2045   158.22 170.45 12.23 1.93
DC22-2045   205.38 213.77 8.39 1.92
DC22-2045   TOTAL   65.43 2.16
DC22-2046 ACMA 24.38 32.42 8.04 5.25
DC22-2046   109.52 135.25 25.73 5.22
DC22-2046   176.88 194.04 17.16 3.48
DC22-2046   207.43 212.14 4.71 1.32
DC22-2046   220.58 223.77 3.19 1.02
DC22-2046   TOTAL   58.83 4.18
DC22-2047 ACMA 37.19 47.66 10.47 2.37
DC22-2047   135.33 140.13 4.80 9.08
including   136.37 140.13 3.76 11.06
DC22-2047   151.83 176.24 24.41 3.76
DC22-2047   TOTAL   39.68 4.04
DC22-2048 ACMA 6.44 10.48 4.04 5.16
DC22-2048   23.77 30.48 6.71 7.43
DC22-2048   36.88 43.61 6.73 3.48
DC22-2048   94.64 106.83 12.19 3.11
DC22-2048   111.17 143.61 32.44 1.18
DC22-2048   TOTAL   62.11 2.74
DC22-2049 ACMA 10.97 16.20 5.23 6.51
DC22-2049   95.70 112.44 16.74 2.76
DC22-2049   TOTAL   21.97 3.65
DC22-2050 ACMA 38.40 42.93 4.53 1.22
DC22-2050   98.40 123.70 25.30 2.82
DC22-2050   137.98 162.88 24.90 2.74
DC22-2050   TOTAL   54.73 2.65

 

 

 

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DC22-2051 ACMA 69.70 80.01 10.31 1.27
DC22-2051   119.52 126.19 6.67 1.72
DC22-2051   343.75 356.05 12.30 3.24
DC22-2051   437.45 474.88 37.43 2.35
DC22-2051   533.86 565.30 31.44 4.63
including   545.90 550.40 4.50 11.45
DC22-2051   693.27 708.65 15.38 6.81
including   698.89 703.53 4.64 16.59
DC22-2051   746.67 767.93 21.26 3.74
DC22-2051   TOTAL   134.79 3.58
DC22-2052 ACMA 6.36 17.07 10.71 2.43
DC22-2052   100.72 104.92 4.20 1.93
DC22-2052   TOTAL   14.91 2.29
DC22-2053 ACMA 39.82 43.55 3.73 2.24
DC22-2053   50.55 59.82 9.27 2.09
DC22-2053   169.41 172.63 3.22 3.72
DC22-2053   286.82 290.15 3.33 2.57
DC22-2053   TOTAL   19.55 2.47
DC22-2054 ACMA 10.05 13.42 3.37 3.44
DC22-2054   108.52 148.31 39.79 3.37
DC22-2054   152.89 179.89 27.00 2.70
DC22-2054   TOTAL   70.16 3.11
DC22-2055 ACMA 12.19 35.77 23.58 2.36
DC22-2055   115.85 124.30 8.45 5.11
DC22-2055   131.99 152.88 20.89 4.12
DC22-2055   181.66 187.45 5.79 2.03
DC22-2055   TOTAL   58.71 3.35
DC22-2056 ACMA 2.44 13.33 10.89 17.55
including   7.01 11.13 4.12 44.11
DC22-2056   83.31 86.37 3.06 8.51
DC22-2056   99.82 173.80 73.98 4.21
including   109.12 115.28 6.16 18.20
DC22-2056   TOTAL   87.93 6.02
DC22-2057 ACMA 10.97 21.25 10.28 2.59
DC22-2057   40.56 48.17 7.61 1.97
DC22-2057   52.57 60.64 8.07 1.05
DC22-2057   118.89 123.88 4.99 2.23
DC22-2057   135.23 142.04 6.81 6.04
DC22-2057   147.74 160.25 12.51 3.91
DC22-2057   166.47 173.36 6.89 2.48
DC22-2057   186.43 194.98 8.55 4.04
DC22-2057   TOTAL   65.71 3.09
DC22-2058 ACMA 5.18 14.02 8.84 2.81
DC22-2058   21.46 33.01 11.55 3.50
DC22-2058   112.19 118.57 6.38 3.84
DC22-2058   124.23 138.62 14.39 8.18
including   130.24 136.99 6.75 15.15
DC22-2058   151.79 172.17 20.38 2.83
DC22-2058   TOTAL   61.54 4.31

 

 

 

Page | 12

 

 

DC22-2059 Divide  57.65  76.04  18.39  3.64
DC22-2059    81.48  86.56  5.08  1.01
DC22-2059    95.38  109.70  14.32  2.75
DC22-2059    118.26  122.22  3.96  2.94
DC22-2059    TOTAL     41.75  2.95
DC22-2060 ACMA 10.02 16.48 6.46 7.99
DC22-2060   116.69 121.75 5.06 2.26
DC22-2060   TOTAL   11.52 5.47
DC22-2061 Divide 22.80 25.91 3.11 2.36
DC22-2061   32.72 41.90 9.18 2.10
DC22-2061   55.87 66.97 11.10 2.59
DC22-2061   73.76 81.30 7.54 1.80
DC22-2061   91.09 129.15 38.06 3.08
DC22-2061   172.94 176.31 3.37 2.49
DC22-2061   186.10 196.08 9.98 2.51
DC22-2061   TOTAL   82.34 2.67
DC22-2062 Divide 54.25 87.49 33.24 1.02
DC22-2062   110.99 115.21 4.22 4.76
DC22-2062   126.31 132.65 6.34 9.68
DC22-2062   147.06 197.82 50.76 3.28
DC22-2062   TOTAL   94.56 2.98
DC22-2063 Divide 9.14 15.75 6.61 1.32
DC22-2063   61.13 75.81 14.68 3.12
DC22-2063   130.04 142.14 12.10 22.15
including   135.48 140.91 5.43 47.17
DC22-2063   TOTAL   33.39 9.66
DC22-2067 ACMA 83.17 92.99 9.82 1.43
DC22-2067   123.01 130.91 7.90 2.41
DC22-2067   145.78 160.87 15.09 5.49
DC22-2067   251.68 260.64 8.96 1.05
DC22-2067   273.14 288.11 14.97 1.94
DC22-2067   416.80 434.50 17.70 4.26
DC22-2067   464.06 508.64 44.58 4.50
including   464.06 467.17 3.11 10.79
including   496.00 502.35 6.35 10.26
DC22-2067   582.22 592.53 10.31 2.82
DC22-2067   614.40 626.58 12.18 1.16
DC22-2067   644.08 652.25 8.17 1.79
DC22-2067   724.00 730.65 6.65 1.05
DC22-2067   TOTAL   156.33 3.17

 

 

 

Page | 13

 

 

DC22-2082 ACMA 20.56 47.61 27.05 2.53
DC22-2082   60.07 68.99 8.92 2.26
DC22-2082   88.83 94.25 5.42 2.23
DC22-2082   130.34 136.86 6.52 3.71
DC22-2082   400.20 407.52 7.32 2.67
DC22-2082   423.91 427.27 3.36 7.32
DC22-2082   555.07 564.83 9.76 7.75
DC22-2082   568.85 583.94 15.09 3.35
DC22-2082   632.16 641.42 9.26 2.85
DC22-2082   660.08 668.73 8.65 2.19
DC22-2082   684.64 701.30 16.66 4.29
DC22-2082   718.02 724.88 6.86 5.77
DC22-2082   TOTAL   124.87 3.62

 

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. Assays from DC22-2033, DC-22-2034, DC22-2036 through DC22-2050, DC22-2052 through DC22-2058, and DC22-2060 represent holes from the 20-meter spaced West ACMA grid drilling and DC22-2059, DC22-2061 through DC22-2066, DC22-2068 through DC22-2081, DC22-2083 through DC22-2088, DC22-2090, DC22-2092, and DC22-2093 represent holes from the Divide 20-meter spaced grid drilling. DC22-2063 interval is subparallel to the mineralized fault zone and mineralized dyke. DC22-2067 interval is subparallel to a mineralized fault zone. Any drill intervals not depicted in this table did not meet the significant interval criteria. Assay data are not yet available from 122.79 m to 234.85 m in DC22-2059, 150.82 m to 300.38 m in DC22-2063, and all of holes DC22-2064 through DC22-2066, DC22-2068 through DC22-2081, and DC22-2083 through DC22-2115.

 

 

 

 

 

 

 

 

 

 

 

 

 

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