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July 31, 1999
RC drilling started on on the property. Drilling will start on the Upper Anvil Creek Target areas and is estimated to take approximately 3 months to complete. Rock sample assay results from outcrop samples along the 8 km long shear zone were expected shortly.
July 15, 1999
NovaGold Resources has started RC drilling on its Anvil Creek gold property near Nome Alaska. The 6,500 m RC drill program is designed to test a major flexure along the Anvil Creek Shear Zone (ACSZ), which is coincident with over 3.5 million ounces of placer gold production. Target areas along the main ACSZ include Lower Anvil Creek, Upper Anvil Creek and Submarine Beach areas. Drilling will start on the Upper Anvil Creek Target areas and is estimated to take approximately 3 months to complete. Assay results from outcrop samples along an 8 km long section of the shear zone are expected shortly.
July 5, 1999
NovaGold Resources has entered into an agreement with Kennecott Exploration Company regarding the Anvil Creek gold property, located on the Seward Peninsula of Alaska. Kennecott may earn up to a 70% interest in the property by making payments and private placements in NovaGold totalling US$2,700,000 and contributing US$5,000,000 in exploration expenditures.