Tuesday, April 20, 2010

NovaGold (TSE:NG) Says Galore Creek Study Launched

A day before its quarterly report, NovaGold (TSE:NG) announced they have launched a pre-feasibility study at the Galore Creek project.

Galore Creek is one of the most highly touted projects in the world, and is among the largest undeveloped copper-gold-silver mines known. There is an estimated 1,300 million tons of high-grade copper-gold-silver at the project, with a strong possibility of more.

In a press release, the company said "The pre-feasibility study will provide capital cost estimates using higher copper and gold prices than used in previous studies, as well as permitting, construction and production timelines."

Teck Resources (TSE:TCK-B) has an equal share in the Galore Creek project.

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