("NovaGold to Transfer Rock Creek as Part of Focus on Donlin Gold," at 9:27 a.m. EDT, misspelled Donlin in the headline. The correct version follows:)
By Carolyn King
NovaGold Resources Inc. (NG) will transfer its Rock Creek property in Nome, Alaska to Bering Straits Native Corp. in order to focus on its 50%-owned high-grade Donlin Gold project in the state.
Terms weren't disclosed. Bering Straits Native Corp. is owned by Alaskan Natives.
NovaGold said the divestiture will allow it to focus on advancing Donlin Gold, which it owns jointly with Barrick Gold Corp. (ABX), toward permitting. NovaGold considers Donlin Gold a key asset because it's expected to be one of just a handful of gold mines worldwide that produces more than 1 million ounces of gold annually.
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