Join our daily newsletter At The Bell to receive exclusive market insights
- Nova Minerals (NVA) receives further results from the Korbel Deposit within its flagship Estelle Gold Project in Alaska
- Overall, grades peaked at 11.7g/t gold and Nova will incorporate the results into its upcoming scoping study which will be released in due course
- Drilling is also progressing well at the RPM Prospect with three holes completed so far
- The holes have intersected the target and Nova plans to release a maiden resource estimate later in the year
- Shares in Nova are steady on the market and trading at 12.5 cents at 10:36 am AEST
Nova Minerals (NVA) has received further results from the Korbel Deposit within its flagship Estelle Gold Project in Alaska.
The Estelle Gold Project lies roughly 177 kilometres northwest of Anchorage and roughly 180 kilometres southeast of McGrath.
It is made up of 346 state mining claims and covers 220 square kilometres of mining claims on State of Alaska public land.
Best new results include three metres at 11.7 grams of gold per tonne (g/t), three metres at 5.4g/t gold; and three metres at 4.5g/t gold.
Nova will incorporate these results into its upcoming scoping study which is expected to be released in due course.
Infill and extension drilling is continuing with further results to be reported on as they become available.
The aim of this is to substantially increase and upgrade the size and confidence of the 4.7-million-ounce resource.
Additionally, a fifth rig is expected to arrive onsite in the coming weeks to ramp up drilling.
Drilling is also progressing well at the RPM Prospect with three holes, for 1500 metres, completed so far.
The holes have intersected the target with wide zones of mineralisation being observed and as a result, Nova plans to release a maiden resource estimate later in the year.
CEO Christopher Gerteisen is pleased with the results received so far and is looking forward to receiving more.
“Resource development infill and step-out drilling continues to intersect strong mineralisation with very encouraging gold grades over wide intervals,” Mr Gerteisen commented.
“The significant of these results obtained in the ongoing infill program will no doubt have a major impact on our pit optimisations and project economics moving forward.”
Shares in Nova were steady on the market and trading at 12.5 cents at 10:36 am AEST.
