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NovaGold sells Rock Creek property in Alaska

NovaGold: a drill site showing engineering drilling being done in the Arctic.

Cal Craig/NovaGold

NovaGold Resources Inc. said Monday it has signed a deal to sell its Rock Creek property in Nome, Alaska, to Bering Straits Native Corp.

Financial terms of the deal were not immediately available.

NovaGold has been increasing its focus on its Donlin Gold project in Alaska, that it jointly owns with Toronto-based Barrick Gold Corp., and has been selling or spinning off its other projects in recent months.

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The company spun off its Ambler project into a company called NovaCopper earlier this year and put its stake in the Galore Creek project in B.C. that it is developing with Teck Resources up for sale.

NovaGold said Monday that it expects that its planned closing

expenditures related to the Rock Creek project will be reduced by about $14 -million (U.S.) for 2012 due to the sale.

The deal is expected to close over the next six months.

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