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By Shane Lasley
Mining News 

Novagold gets US$275M for Galore Creek

Cash from sale will be applied to development of Donlin Gold North of 60 Mining News – August 3, 2018

 

Last updated 9/25/2020 at 6:08am

Galore Creek Novagold Newmont Teck exploration Golden Triangle BC

Novagold Resources Inc.

Teck Resources and Newmont plan to invest a combined US$20 million to US$30 million annually to carry out the work needed to complete an updated prefeasibility study for the world-class Galore Creek copper-gold-silver project in northwestern British Columbia.

Novagold Resources Inc. July 27 announced it has closed the deal to sell Newmont Mining Corp. its 50 percent interest in the Galore Creek copper-gold project in northwestern British Columbia for US$275 million.

"I'm very pleased that Novagold is receiving fair value for its interest in Galore Creek and believe that Newmont is the right organization to carry forward the track record of excellenc...



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