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- Nova Minerals (NVA) begins a focused drilling program at the Cathedral target within the company’s flagship Estelle gold project in Alaska
- Previous field sampling at Cathedral returned up to 114 g/t gold, with the results indicating the target had the potential to be the feeder system for a large gold system at the Korbel Main deposit
- This upcoming drilling program will aim to test for shallow resource extensions and improve Nova’s geological understanding of the systems at Korbel Valley
- Further, the company has kicked off pre-feasibility (PFS) testwork and trade-off optimisation studies across the Estelle Gold Trend
- Nova is down 2.31 per cent on the market with shares trading at 84.5 cents at 1:41 pm AEST
Nova Minerals (NVA) has begun a focused drilling program at the Cathedral target within the company’s flagship Estelle gold project in Alaska.
Previous field sampling at Cathedral returned up to 114 g/t gold, with the results indicating the target had the potential to be the feeder system for a large gold system present at the Korbel Main deposit.
Nova’s upcoming drilling program will now aim to test for shallow resource extensions in the area and improve the company’s geological understanding of the systems at Korbel Valley.
Korbel Main and Cathedral are only two of the seven targets within Korbel Valley, with the remaining five to be tested in the future.
Meanwhile, drilling is continuing at the RPM project to the south of Korbel, with results to be reported by Nova as assays are received from the laboratory.
Further, the company has kicked off pre-feasibility (PFS) testwork and trade-off optimisation studies across the Estelle Gold Trend
“We are pleased to have recommenced drilling in the wider Korbel Valley area again with a targeted program that will test the theory of Cathedral being the high-grade feeder zone to the already established 8.1 million ounce Korbel Main deposit,” Nova CEO Christopher Gerteisen said.
“In addition to the drilling at both Cathedral and RPM, and in light of the bottleneck at the assay laboratory, we have now also commenced our PFS level test work and trade-off optimisation studies, in tandem with the ongoing Phase Two scoping study, as we continue on our path towards commercial production across the Estelle Gold Trend.”
Nova was down 2.31 per cent on the market with shares trading at 84.5 cents at 1:41 pm AEST.
