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- Nova Minerals (NVA) has reported that drilling at the Korbel Main Zone has extended the strike length of the known mineralised zone by around 30 per cent
- Korbel is part of the company’s flagship Estelle Gold Project, situated in Alaska’s Tintina Gold Belt, which is home to several multimillion-ounce bulk-tonnage gold deposits
- The latest results included an intercept of 174 metres at 0.6 grams per tonne gold with samples from another 30 holes to be assayed this quarter
- CEO Christopher Gerteisen said the south-east extension to the Korbel deposit appears to be a major new gold trend and will contribute to a resource upgrade due in the second quarter of 2021
- NVA shares have been trading flat at 16.5 cents
Nova Minerals (NVA) has reported that drilling at the Korbel Main Zone within its Estelle Gold Project has extended the known mineralised area.
The company’s flagship project is situated within Alaska’s Tintina Gold Belt, home to several multimillion-ounce bulk-tonnage gold deposits many of which are intrusion-related gold system deposits like at Estelle.
Korbel is one of 15 identified deposits at the project and, calculated at a cut-off grade of 0.18 grams per tonne gold, amounts to 290 million tonnes at 0.4 grams per tonne for 3.3 million ounces.
The latest results from Korbel included wide, near-surface intercepts including 174 metres at 0.6 grams per tonne gold from KBDH-052.
Another hole at Pad 6, KBDH-056, returned an intercept of 256 metres at 0.4 grams per tonne including an interval of 61 metres at 0.8 grams per tonne.
CEO Christopher Gerteisen said the results are adding weight to the significance of the extension and will feed into an upcoming resource upgrade.
“The South-East extension appears to be a major new gold trend extending the Korbel Main deposit by 340 metres in length and 400 metres in width, increasing the resource zone by 30 per cent along strike, a clear demonstration of the significant size and scale of the mineralized structure which still remains wide open.”
“All samples are now being processed by two laboratories, the results of which will be included in the resource statement due in Q2 2021.”
Material from another 30 holes, or 16,000 metres of drilling, will be assayed this quarter with results from KBDH-054, KBDH-050 from PAD6 and KBDH-021, KBDH-023 from PAD4 due shortly.
“Holes KBDH-052, KBDH-054 and KBDH-056 reflect excellent results from the higher-grade starter pit zone within Korbel. They not only confirm the grades of the earlier drill sections from Pad 3 and 4, but also extend the higher grades to the South-East,” he added.
NVA shares have been trading flat at 16.5 cents at 10:33 am AEDT.
