NovaGold Resources Inc. (USA)(NYSEMKT:NG) Announces Galore Creek Success


Dallas, Texas 02/04/2014 (FINANCIALSTRENDS) – NovaGold Resources Inc. (USA) (NYSEMKT:NG) has since reported the results of its 2013, drilling as well as exploration program of the Galore Creek property, Off the Thahltan Nation, British Columbia, Canada. NovaGold currently holds over 50 % stake in this gold, copper and silver rich project along with Teck Resources Inc.  NovaGold reported that the program concluded ahead of schedule and was much below the budget in which it was expected to operate. The company also reported that there were high levels of mineralization at the Legacy Zone. The program also provided the miners to find out potential growth areas as well.

The program – 2013 drill program- was constituted to assess the Legacy Mineralization as well as find the impact of the project for the future and also aid in the design of the project.

NovaGold Resources Inc. (USA) (NYSEMKT:NG) also  holds other partnerships.

NovaGold Resources Inc. (USA) (NYSEMKT:NG) hold properties in north western part of United states, in the state of Alaska as well, besides the British Columbian projects geographically located in Canada.

Interestingly, holds equal joint stake in an Alaskan project with Barrick Gold Corporation. Here the ownership is exercised by both companies through a wholly owned subsidiary belonging to both the companies.

NovaGold Resources Inc. (USA) (NYSEMKT:NG) main  line of management of Galore Creek Mining Corporation is at the Central, Southwest as well as West Fork deposits. The project’s resources are therefore thus listed. Earlier in 2012, NovaGold had completed the sale of its Alaska Gold Company LLC(AGC).

NovaGold currently trades at $2.99, with floating rates of $2.93 and $3.04. The 52 week high was $4.62 and 52 week low was $1.90. The shares had opened at $2.95. the volume trade for the company was recorded at 1.81 million. The average sale was recorded at 1.79 million. The current market valuation for this gold mining company has been $946.82million.The EPS reported is -0.20. The beta is 0.72.

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