Join our daily newsletter At The Bell to receive exclusive market insights
- Nova Minerals (NVA) prepares for further resource development drilling at its Estelle Gold Project in Alaska as it plans to extend the RPM deposit
- Geophysics has confirmed a one kilometre continuous zone at RPM, which was recently identified in drill hole RPM-005
- Over 20,000 metres of diamond drilling is planned at RPM, targeting the northern end, with a further 3000 metres of drilling targeting the southern end of the deposit
- Chief Executive Christopher Gerteisen says the latest result strengthened his confidence in the size and tenor of RPM
- On the market this morning, Nova is up 4.27 per cent and trading at $1.10 per share
Nova Minerals (NVA) is preparing for further resource development drilling at its Estelle Gold Project in Alaska as it plans to extend the RPM deposit.
Geophysics has confirmed a one-kilometre continuous zone at RPM, which was recently identified in drill hole RPM-005.
Over 20,000 metres of diamond drilling is planned at RPM, targeting the northern end.
A further 3000 metres of drilling is also planned to intersect and define additional resources in the southern end. The surface footprint in the southern end is much larger than what the company saw in the north.
Additionally, ground and/or drone surveys will be undertaken across RPM to further identify additional mineralised zones.
Nova Minerals Chief Executive Christopher Gerteisen said the latest result strengthened his confidence in the size and tenor of RPM, which remains wide open in all directions.
“Dense drill spacing around the existing resource area is aimed at proving up a significant portion of the RPM resource to higher confidence Indicated status,” he said.
“With support infrastructure in place, and several rigs now gearing up, our corporate goal is to expand the existing 1.5 million ounces gold inferred resource at RPM, and in turn, build Estelle’s current 9.6 million ounces gold estimated total gold resource in 2022.”
Estelle is a 35-kilometre long corridor of 17 identified gold prospects, bracketed by the Korbel deposit in the north and the RPM deposit in the south.
On the market this morning, Nova was up 4.27 per cent and is trading at $1.10 per share at 11:40 am AEDT.
