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
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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 prefeasibil...
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