Saturday, September 24, 2011

DONLIN CREEK - one of the largest discovered in the 20th century

Donlin Creek international airport. This is where we lived
in 1988 and 1989 during the initial discovery of the Donlin
Creek gold deposit by members of WestGold.
The Donlin Creek gold deposit in southwestern Alaska is considered to be one of the largest, undeveloped, gold deposits on earth and contains as much gold as the Homestake mine. Resources are likely to expand with continued exploration of the deposit and mining. The gold resource is more than 41 million ounces. To develop this property, it is estimated that capitalization will be as much as $7 billion in that the property is in the middle of nowhere in the Kuskokwim Mountains in southwestern Alaska.

NovaGold reported proven and probable mineral reserves of 33.6 million ounces, measured and indicated mineral resources of 4.3 million ounces and inferred resources of 4.4 million ounces.

The company reports identified gold reserves include 7 million tonnes of proven ore at 2.46 g/t (grams per tonne) and 460.7 million tonnes of 2.23 g/t. The gold resource (exclusive of the reserves) includes 0.2 million tonnes of measured resources averaging 6.61 g/t, 39.6 million tonnes of indicated resources averaging 3.34 g/t and inferred resources at 58.4 million tonnes of 2.35 g/t containing 4.41 million ounces. The total resources are calculated at 4.29 million ounces and reserves at 33.59 million ounces.

Found this nifty dredge at Flat Alaska, but Dr. Paul wouldn't
let me keep it.

Co-pilot Hausel in hunt of other gold
deposits in the Donlin Creek area