NovaGold Resources Inc. is shedding a Nome property as it focuses solely on a proposed mine in Southwest Alaska.
KYUK reports the company is transferring its Rock Creek property outside Nome to an Alaska Native corporation. Bering Straits Native Corp. owns subsurface land rights in the region.
A written statement from NovaGold says this will allow it to continue efforts to focus exclusively on the Donlin Gold project near Crooked Creek. The company says the transfer will save it $14 million this year earmarked for closure expenditures at Nome.
NovaGold said there are proven and probable reserves of nearly 34 million ounces at the Donlin site.