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Article: Donlin creek gold deposit joins exclusive club: This find ranks as the 22nd largest gold deposit in the world.(Brief Article)(Statistical Data Included)
- Article from:
- Alaska Business Monthly
- Article date:
- May 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Alaska Business Publishing Company, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In late January, the world's gold mining industry welcomed a new member to one of its most exclusive clubs--a club consisting only of gold deposits with reserves in excess of 20 million troy ounces of gold. That new club member was the Donlin Creek deposit located on Calista Corp. lands about 44 miles northeast of Aniak upriver from Bethel.
The announcement that Donlin Creek has joined the big leagues was made by NovaGold Resources Inc., a Canadian junior mining company that acquired an option in early 2001 to earn a 70 percent interest in the deposit from mining giant Placer Dome. NovaGold must spend $10 million within 10 years to earn its interest.
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