Barrick, NovaGold to replace $7.4bn Donlin feasibility

Senior leaders, together with Barrick and NovaGold CEOs Mark Bristow and Greg Lang, not too long ago met with the Donlin administration crew, native stakeholders and each federal and state authorities officers who expressed their continued assist for the undertaking.

The 2021 drill program was accomplished in September with 79 holes over 24,264 metres. Assay outcomes from 65% of the holes had been acquired by the top of November. Drill assays proceed to return high-grades and make sure grade continuity.

Barrick launched 5 of the perfect current intervals:

  • Gap DC21-1976: 57.3 metres grading 6.87 g/t gold, together with 4.1 metres at 18.13 g/t gold;
  • Gap DC21-1970: 19.2 metres grading 12.57 g/t gold, together with 12.2 metres grading 17.28 g/t of gold;
  • Gap DC21-1964 intersected 37.9 metres grading 6.28 g/t gold, together with 8 metres at 15.99 g/t gold and three.1 metres at 10.21 g/t gold;
  • Gap DC21-1980: 12.2 metres grading 19.02 g/t gold, together with 4.7 metres at 36.53 g/t gold; and
  • DC21-1994: 33.5 metres grading 5.89 g/t gold, together with 6.1 metres grading 15.22 g/t gold.

“Donlin Gold’s 2021 drill program is producing a few of the finest drill outcomes seen currently within the gold mining trade, from juniors to majors,” famous NovaGold’s Lang.

The Donlin undertaking hosts one of many largest and highest grade undeveloped deposits on the earth. The primary feasibility research for the undertaking was accomplished in 2009.

“Getting collectively in Alaska, visiting the Donlin undertaking web site and sitting down with stakeholders drove residence the importance and significance of Donlin to each companions,” stated Barrick’s Bristow. “We’ve a singular alternative to progress a world-class undertaking in each a jurisdiction and with native companions that acknowledge the contribution such an asset can carry to the lives of future generations of Alaskans.”

Donlin worth in billions of {dollars}

Based mostly on the June 2021 technical report for Donlin undertaking (utilizing $1,500/oz. gold), the undertaking has an after-tax web current worth with a 5% low cost of $3 billion and an inner fee of return of 9.2%. Payback might be achieved 7.3 years after the beginning of manufacturing.

The preliminary capital requirement is $7.4 billion, adopted by sustaining capital of $1.7 billion. Closure prices are estimated to be $292 million.

An open pit mine can be developed to ship 53,500 tonnes per day of ore to a mill with a flowsheet containing semi-autogenous grinding (SAG) and ball milling, flotation, strain oxidation leach, and carbon-in-leach circuits. Mixed whole plant gold restoration can be 89.8%. Concentrates produced would grade 11 to fifteen g/t gold.

(This text first appeared in The Northern Miner)


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