NovaGold Resources Inc. reported that the final assay results from its 2025 Donlin Gold drill program were released on November 25 2025. The program comprised 5,079 m of infill holes in the East ACMA grid and 10,370 m of in‑pit exploration, yielding consistent high‑grade intercepts that will feed the upcoming Bankable Feasibility Study.
The company also confirmed that it was formally accepted into the Federal Permitting Improvement Steering Council’s FAST‑41 program on October 27 2025. This federal initiative streamlines supplemental environmental analysis and accelerates permitting timelines, and the acceptance places Donlin Gold on the Federal Permitting Dashboard, reducing regulatory uncertainty for future development phases.
In a separate development, the Alaska Supreme Court issued a ruling on November 14 2025 that affirmed Donlin Gold’s water rights and upheld the Department of Natural Resources’ approval of the 316‑mile natural gas pipeline right‑of‑way lease. The decision removes a key regulatory hurdle and reinforces the project’s compliance with state environmental and water‑use requirements.
The combined effect of these milestones strengthens NovaGold’s resource model and accelerates the project’s path to production. Management noted that the high‑grade drill results “continue to exceed expectations and provide key data points for the Bankable Feasibility Study.” While the company posted a net loss of $15.6 million in Q3 2025, it maintained a robust cash position of $125 million and a current ratio of 26.91, underscoring its liquidity to fund the next development phase.
Analysts have maintained a “Strong Buy” stance on NovaGold, citing the project’s large, high‑grade resource base and the de‑risking effect of the recent permitting and legal milestones. The company’s forward guidance remains unchanged, but the new regulatory approvals are expected to shorten the timeline to a bankable feasibility study and, ultimately, commercial production.
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