NovaGold Resources has completed the prefeasibility study (PFS) for its Galore Creek copper-gold-silver project in British Columbia, Canada.
The PFS conducted by GCMC has confirmed the viability of the project and showed a significant increase in scale and redesign of the project from previous configurations.
The project has total proven and probable mineral reserves of 528Mt, grading 0.6% copper, 0.32g/t of gold and 6.02g/t of silver.
It is expected to produce 6.2 billion pounds of copper, 4.0Moz of gold and 65.8Moz of silver over a mine life of 18 years.
Based of the PFS, AMEC Americas and Lemley International will prepare an independent technical report.