- Nova Minerals (NVA) has received positive drilling results from two holes at the Korbel prospect, within the Estelle Gold Project in Alaska
- So far, eight holes have been drilled on Block B, with the aim to expand and upgrade the 2.5-million-ounce gold inferred resource to accelerate feasibility studies
- This drilling is part of a greater 20,000-metre diamond drilling program to test the depth and extensions of the resource at Blocks A and B
- Drilling is ongoing, with more results to be released in due time
- Company shares have dipped 3.28 per cent in the red and are trading for 5.9 cents each
Nova Minerals (NVA) has received positive drilling results from two holes at the Korbel prospect, within its flagship Estelle Gold Project in Alaska.
The Estelle Gold Project is located roughly 177 kilometres northwest of Anchorage and 180 kilometres southeast of McGrath.
Korbel is one of many prospects situated across the 220 square kilometre project area. Significantly, it has a maiden JORC gold resource of 2.5 million ounces.
The Korbel prospect has been tested with two diamond drills, with eight holes drilled so far on Block B. The aim is to expand and upgrade the resource to accelerate feasibility studies.
This drilling is part of a 20,000-metre diamond core drilling program to test the depth and strike extensions of the 2.5-million-ounce inferred gold resource at Blocks A and B.
Holes KBDH-001 and KBDH-002 have demonstrated significant extensions of the grade at over 200 metres below the existing resource.
Highlights from hole KBDH-001 include; 399.56 metres at 0.34g/t gold from 1.86 metres, including 36.58 metres at 0.78g/t gold from 11.58 metres, including 48.77 metres at 0.55g/t gold from 96.93 metres.
Meanwhile, KBDH-002 returned 539.68 metres at 0.27g/t gold from 2.26 metres, including 235 metres at 0.44g/t gold from 14.63 metres, including 15.54 metres 1.05g/t gold from 14.63 metres, including 19.20 metres at 0.78g/t gold from 230.43 metres, and 1.98 metres at 4.34g/t gold from 230.43 metres.
“The KBDH-001 and KBDH-002 assay results demonstrate strong potential for significant extensions to the Korbel deposit and the world-class nature of the system, with the continuation of the grade at depth and the consistency of mineralisation starting from under two metres from surface,” CEO Christopher Gerteisen said.
Nova Minerals is continuing follow-up drilling and the second diamond drill rig is now operating on Pad 4, with more results to follow.
Company shares have dipped 3.28 per cent in the red and are trading for 5.9 cents each at 11:22 am AEST.