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Galore Creek

Project Overview

 

Galore Creek is located in the traditional territory of the Tahltan Nation in northwestern British Columbia, Canada, approximately 150 kilometers northwest of Stewart.

NOVAGOLD Resources announced the sale of its 50% stake in Galore Creek to Newmont for up to $275 Million on July 27th, 2018. NOVAGOLD received $100 million from Newmont upon the close of the transaction and the balance is payable as follows:

  1. $75 million payable upon the earlier of: (i) the completion of a new Project pre-feasibility study prepared by or for GCP or (ii) three (3) years from the closing date;
  2. $25 million, payable upon the earlier of: (i) completion of a Project feasibility study prepared by or for GCP or (ii) five (5) years from the closing date; and
  3. $75 million payable upon approval of Project construction.

News

July 26, 2018
NOVAGOLD Enters Agreement to Sell Its 50% Stake in Galore Creek to Newmont for up to $275 Million
Read more

July 27, 2018
NOVAGOLD Announces Closing of Galore Creek Transaction
Read more

 

For all other information on Galore Creek, please visit www.gcmc.ca

Alaska
Location
Open Pit
Mining Method
50/50
Ownership
(NOVAGOLD/Barrick Gold Corporation)
27 Years
Estimated Mine Life
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