Welcome to the Upper Kobuk Mineral Project

The Upper Kobuk Mineral Project (UKMP) is located in Northwest Alaska, a region known to host high grade, copper, zinc, lead, silver and gold deposits. In fact, the Red Dog mine located 200 miles to the west, is the largest and one of the highest grade zinc mines in the world.

The UKMP represents an alliance between NovaCopper and NANA Regional Corporation that consolidates their respective land holdings in the district and entrusted NovaCopper with the unique opportunity to explore and develop this high-grade and prospective polymetallic district.

The development agreement area of interest stretches to include approximately 321,200 acres and two contemporaneous and adjacent mineralized belts—the Devonian-age Ambler polymetallic volcanogenic massive sulfide (VMS) belt that contains the Arctic deposit and several other known VMS deposits, and the Devonian-age Bornite carbonate-hosted copper-cobalt belt that contains the Bornite deposit.

A highly successful field season in 2011 concluded with 5,900 meters of exploration drilling on the Bornite deposit and 1,200 meters of geotechnical and infill drilling on the Arctic deposit. A new 50-person camp was also established near Bornite, improving exploration efficiency and reducing helicopter support.

NovaCopper released a Preliminary Economic Assessment (PEA) of the Arctic deposit in March 2012, which yielded valuations of US$500.0 million to US$1.5 billion at a range of assumed commodity prices. The aggressive drill program at the Bornite deposit identified some of the best copper exploration holes in the world in the past 10 years. Coupled with the cooperation agreement between NovaGold and NANA, these efforts have turned UKMP into one of the most exciting copper-focused exploration districts in the world.