Total
0
Shares
Nova Minerals (ASX:NVA) - Executive Director & CEO, Christopher Gerteisen - The Market Herald
Executive Director & CEO, Christopher Gerteisen
Source: Mining Investment
  • A recent rock chip sampling program has considerably expanded Nova Minerals' (NVA) proposed drilling footprint at its Estelle Gold Project in Alaska
  • High-grade samples have been returned from the RPM prospect, while several high-priority targets were identified
  • Samples grading up to 291 grams per tonne were also recovered, adding to the potential recognised during historical drilling, with a best intercept of 178 metres at 0.8 grams per tonne
  • The expanded target footprint at RPM only adds to the district-scale potential at Estelle
  • Nova Minerals is trading 17.65 per cent higher for 20 cents

A recent rock chip sampling program has considerably expanded Nova Minerals' (NVA) proposed drilling footprint at its Estelle Gold Project in Alaska.

RPM prospect

High-grade samples have been returned from the RPM prospect and several high-priority targets identified.

Rock chips returned grades up to 291 grams per tonne (g/t) gold, with more than half a dozen samples grading above 5.0g/t.

The reconnaissance sampling adds to the 2012 diamond drill results from RPM, which returned intercepts of 178 metres at 0.8g/t, including 120 metres at 1.0g/t and 50 metres at 1.8g/t.

The high-grade samples were taken from quartz-tourmaline-arsenopyrite vein outcrops at RPM, with other samples also collected from subcrop and float across the prospect.

Indications of a rich mineralised vein system within felsic intrusive rocks makes RPM one of Nova Mineral’s highest priority drilling targets for the 2021 drilling campaign.

Nova CEO Christopher Gerteisen says the promising results add another potential tier-one gold asset in the Estelle area.

"These spectacular grades obtained from RPM alongside the encouraging drill result [...] opens up another Estelle target which we anticipate to drill in 2021, in line with our plans to unlock a district containing multiple, large-scale gold deposits," Christopher said.

"RPM is presenting surface features indicative of a much larger footprint for resource delineation than first thought. The team is confident in growing the pipeline of tier-one assets within the project area."

Nova Minerals CEO, Christopher Gerteisen

"In time, we expect to define multiple new shallow gold resources that will further support our goal of building a centralised mill and heap leach facility as we continue on our path towards gold production," he added.

Next steps

At present, drilling is ongoing at the Korbel Main south east feeder extension and Blocks C and D within the Estelle project area.

Drill results for Korbel Main are also forthcoming as the company continues its program of resource definition drilling.

Ultimately, the expanded target footprint at RPM only adds to the district-scale potential at Estelle.

Nova Minerals is trading 17.65 per cent higher for 20 cents at 11:05am AEDT.


Subscribe


NVA by the numbers
More From The Market Herald
Strategic Energy Resources’ (ASX:SER) share price plummets amid poor results at Saxby

" Strategic Energy Resources’ (ASX:SER) share price plummets amid poor results at Saxby

Strategic Energy Resources (SER) has advised that the assay results from recent drilling at its Saxby Gold Project has returned worse than expected
New Century Resources (ASX:NCZ) - Managing Director, Patrick Walta (left) - The Market Herald

" New Century Resources (ASX:NCZ) tops up $14.4M entitlement offer with institutional issue

New Century Resources (NCZ) has completed an entitlement offer, raising the full $14.4 million target.
Native Mineral Resources (ASX:NMR) intersects porphyry veins at Leane’s copper prospect

" Native Mineral Resources (ASX:NMR) intersects porphyry veins at Leane’s copper prospect

Native Mineral Resources (NMR) has received positive results from phase one drilling at the Leane’s Copper Prospect in north Queensland.
Predictive Discovery (ASX:PDI) - Managing Director, Paul Roberts - The Market Herald

" Predictive Discovery (ASX:PDI) to redouble exploration at Guinea gold project

African-focused gold explorer Predictive Discovery (PDI) is set to expand exploration at its Bankan Project in Guinea.