Nova Minerals (ASX:NVA) - Executive Director & CEO, Chris Gerteisen
Executive Director & CEO, Chris Gerteisen
Source: 121 Mining Investment Events
Market Herald logo


Be the first with the news that moves the market
  • Nova Minerals (NVA) has resumed the resource development program at the Estelle Gold Camp in Alaska
  • A diamond drill rig has begun drilling at the Korbel Deposit to significantly increase the size of the current resource
  • Phase one of this upgrade resource is expected to be released in the middle of the year
  • Nova is down a slight 2.04 per cent and shares are currently trading for 4.8 cents each

Nova Minerals (NVA) has resumed the resource development program at the Estelle Gold Camp in Alaska.

A diamond rig has now begun drilling on the Pad 3, the Block 2 starter pit, area of the Korbel Deposit.

This forms part of Nova’s aim to significantly increase the size of the current 2.5 million ounce resource.

Induced polarisation results show that mineralisation at the project continues to a depth of at least 300 metres and it remains open. Nova’s current program will test to a depth of 500 metres.

Phase one of the upgrade is planned to be released by the middle of this year.

The Estelle Gold Project is located approximately 177 kilometres northwest of Anchorage and approximately 180 kilometres southeast of McGrath in Alaska.

It is made up of 346 state mining claims and covers 220 square kilometres of mining claims on State of Alaska public lands.

“We have never been more excited in relation to the Estelle Gold Camp and the scope we see at the project to significantly increase the resource and confidence level to measured and indicated categories,” Chairman Avi Kimelman said.

“The company looks forward to this program and is confident with our prioritised systematic exploration strategy, the team’s local experience and commitment, we are now well on track and confident to solidify the Estelle Project as the next emerging major global gold camp,” he said.

Despite COVID-19 still ongoing, Nova has taken precautionary measures to protect its employees and their families, communities, contractors, and consultants.

The company has put measures in place such as increased hygiene practices, social distancing, and working from home when possible.

These are enforced by guidelines from the US Centre for Disease Control and Prevention, and the World Health Organisation.

“We have had to adapt quickly in this current COVID-19 environment and are pleased to have the team that can make this happen both technically and safely with multiple plans in place to give us flexibility in our efforts,” Avi commented.

Nova is down a slight 2.04 per cent and shares are trading for 4.8 cents each at 12:09 pm AEST.

NVA by the numbers
More From The Market Herald
ActivEX (ASX:AIV) - Managing Director, Mark Derriman

" ActivEX (ASX:AIV) intersects up to 34.6g/t gold at Mt Hogan

ActivEX (ASX:AIV) intersects up to 34.6 g/t gold from the Mt Hogan historical mine within its…

" BHP’s (ASX:BHP) FY22 best annual report in a decade, record dividends

Australia's largest mining company BHP (ASX:BHP) reports its best annual report in more than a decade…

" Corella Resources (ASX:CR9) commences sonic drilling at Tampu, WA

Corella Resources (ASX:CR9) has commenced its sonic resource definition drill program at its flagship Tampu kaolin…
The Market Herald Video

" Horseshoe Metals (ASX:HOR) kicks off first round of drilling at Glenloth Goldfield, South Australia

Horseshoe Metals (ASX:HOR) has kicked off a maiden reverse circulation drilling program at its Glenloth Goldfield…