State of Alaska Approves Funding for Ambler Access Road EIS
October 22, 2015 - Vancouver, British Columbia - NovaCopper Inc. (TSX, NYSE-MKT: NCQ) ("NovaCopper" or "the Company") is pleased to announce that Alaska's Governor Walker has authorized the Alaska Industrial Development and Export Authority (AIDEA) to begin the environmental impact statement (EIS) process on the Ambler Mining District Industrial Access Road (AMDIAR).
"We are pleased to see AMDIAR move into the EIS process," stated Rick Van Nieuwenhuyse, President and Chief Executive Officer for NovaCopper. "A lot of work and effort has been put into the permit application document for AMDIAR and we are happy that funding has been approved to move the permitting efforts to the Notice of Intent and Public Scoping stages. We will continue to work closely with AIDEA and NANA to advance AMDIAR and look forward to providing updates to our shareholders as the permitting progresses".
The State of Alaska's news release can be found appended to this press release and on the State's website http://gov.alaska.gov/Walker/press-room/full-press-release.html?pr=7305.
NovaCopper Inc. is a base metals exploration company focused on exploring and developing the Ambler mining district located in northwestern Alaska. It is one of the richest and most-prospective known copper-dominant districts located in one of the safest geopolitical jurisdictions in the world. It hosts world-class polymetallic VMS deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high grade copper mineralization. Exploration efforts have been focused on two deposits in the Ambler district - the Arctic VMS deposit and the Bornite carbonate replacement deposit. Both deposits are located within NovaCopper's land package that spans approximately 143,000 hectares. NovaCopper has an agreement with NANA Regional Corporation, Inc., a Regional Alaska Native Corporation that provides a framework for the exploration and potential development of the Ambler mining district in cooperation with local communities. Our vision is to develop the Ambler mining district into a premier North American copper producer. The Company also owns 100% of the Titiribi Project located approximately 70 kilometers southwest of the city of Medellin, Colombia, in Antioquia department, within the historical Titiribi mining district.
More information on the Company, its properties and its management team is available on the Company's website at www.novacopper.com