Negotiations allowing NovaGold Resources (TSE) to acquire three Venezuelan mineral concessions are entering the final stages.
The concessions — Halifax 1, 2 and 3 — comprise 8,894 acres in the Kilometre 88-El Dorado district and were selected on the basis of geological and geophysical data and proximity to infrastructure.
NovaGold is also constructing an indoor vat leaching plant in an attempt to circumvent problems associated with heap leaching in areas with heavy rainfall. The plant should be operational by June.
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