- Nova Minerals (NVA) discovers a 3.8-kilometre polymetallic vein system at the Estelle Gold Project in Alaska
- The company has undertaken reconnaissance work which collected 26 samples from three areas and led to the discovery of the Stoney vein prospect
- The prospect has returned grades of up to 48.4g/t gold, 2720g/t silver and 2.4 per cent copper and Nova believes it further highlights the potential of Estelle
- Nova will complete follow-up geophysics and drilling at Stoney after delivering a maiden resource and resource upgrade for the RPM and Korbel Main deposits
- Company shares are trading steady at 15 cents
Nova Minerals (NVA) has identified an extensive vein system at the Estelle Gold Project in Alaska.
During a reconnaissance program, the company collected 26 rock chip samples from the T5, Rainy Day and Stoney vein areas.
Positively, this work highlighted the massive polymetallic Stoney vein spans a strike length of 3.8 kilometres, is up to 10 metres wide and vertically extends for 300 metres.
The Stoney prospect, which is nested between the current 4.7-million-ounce Korbel deposit and the RPM deposit to the south, also returned values of up to 48.4 grams of gold per tonne (g/t), 2720g/t silver and 2.4 per cent copper.
CEO, Christopher Gerteisen, said the successful reconnaissance program confirmed the depth and scale of the Estelle Gold Project.
“The Stoney prospect discovery highlights further potential of another large-scale mineralised system within the Estelle Gold Project, now with silver and copper upside as well,” he said.
“As this massive polymetallic discovery at Stoney Prospect once again shows, there is no shortage of targets at Estelle, which we are systematically working through, with further success expected on the horizon, as we continue to turn the district into one of North America’s leading new gold camps.”
Nova Minerals plans to conduct follow-up geophysical work and drilling at the Stoney prospect and surrounding areas next year.
The company is also preparing to deliver a maiden resource for the RPM deposit before the end of this year along with a resource upgrade for the Korbel Main deposit.
Overall, Nova is focused on defining new gold resources to expand the Estelle Gold Project’s resource inventory and move towards production.
Company shares were trading steady at 15 cents at 11:22 am AEST.