WEEKLY ONLINE NEWS STORY
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| September 02, 2010 --- Vol. 04, No. 35 | September 2010
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Alaska News Nuggets
MANAGEMENT – NovaGold Resources Inc. Aug. 1 said Gerry McConnell has been appointed chairman of its board of directors. Rick Van Nieuwenhuyse continues as president and CEO of the company and will remain on the company’s board as a director. “Gerry's legal background and extensive knowledge of the mining business and our projects makes him the ideal candidate to manage the board activities that help guide the company,” Van Nieuwenhuyse said. NovaGold’s board of directors and employees are committed to adding value for shareholders as we advance our world-class portfolio of projects. McConnell, who has more than 25 years of experience in the mining sector, has been a director of NovaGold since 1984. He served as president and CEO of the company from 1984 until 1998, when he chose to devote his attention to Etruscan Resources Inc., an Africa-based resource exploration and development company. McConnell was president and CEO of Etruscan from June 1990 until earlier this year when he redirected his focus to Namibia Rare Earths Inc., a newly created private Canadian company dedicated to the development of rare earth opportunities in Namibia. McConnell has gained the respect of his peers for his leadership that has resulted in numerous successes in exploration discoveries and mine development, and for his progressive policies with respect to improving social conditions in the countries where he has operated.
GOLD – Fire River Gold Corp. Sept. 1 announced it has engaged Snowden Mining Industry Consultants Inc. to prepare a preliminary economic assessment to evaluate the economic viability of resuming underground commercial production at the Nixon Fork gold mine. The PEA will present a preliminary mine plan for the project, including dilution and recovery analysis, stoping method selection, production and development forecasts, capital and operating cost estimations, revenue projection, and a financial model. The tentative date for completion of the study is mid December. This will be the third technical report that the Fire River will publish on Nixon Fork in 2010, the first being an updated NI 43-101 resource estimate (scheduled for September) and the second being a PEA evaluating the completion a carbon-in-leach circuit to reprocess the historic tailings pond. The Snowden PEA will incorporate the results of the prior two studies. Fire River is actively drilling the orebody both from surface and underground as part of a 28,000-meter drill program, which will be continued through winter and completed in spring of 2011. For timeliness, the results of this program will not be incorporated into the Snowden PEA.
GOLD/SILVER – Teryl Resources Corp. Sept. 1 said an agreement, subject to a 30-day due diligence by Teryl, was completed to acquire an option on a 50 percent interest in 11 State of Alaska mining claims located about 80 miles, or130 kilometers, northwest of Anchorage. The claim block is in the Kahiltna Terrane near the Kiska Metals Corp.’s Whistler gold-copper project. A Teryl spokesman told Mining News the property is prospective for gold and silver.
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