North of 60 Mining News - The mining newspaper for Alaska and Canada's North

Pebble Partnership copper gold molybdenum mine project Alaska Northern Dynasty NAK NDM

By Shane Lasley
North of 60 Mining News 

Junior jumps in with both feet at Ambler

NovaGold agrees to buy Arctic VMS project for US$29 million; opts to focus on environmental studies, Northwest community in 2010


Last updated 1/17/2010 at Noon

NovaGold Resources Inc. has cut a deal with Rio Tinto subsidiary Kennecott Exploration Co. to purchase 100 percent interest in the precious-metal-rich Ambler copper-zinc property in Northwest Alaska.

The outright purchase overrides a 2004 joint venture agreement in which NovaGold would have earned a 51 percent stake in the property by spending US$20 million and delivering a positive prefeasibi...

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