Join our daily newsletter At The Bell to receive exclusive market insights
- 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.
