- Nova Minerals (NVA) delineates a new broad zone of gold at the Cathedral prospect within the Estelle joint venture project in Alaska
- Maiden drilling at the prospect returned a 354-metre intercept grading 0.3 grams per tonne (g/t) gold and a 269-metre intercept grading 0.4 g/t gold
- The drilling was completed at Cathedral last year below previously-discovered surface rock chip samples to enable a maiden resource estimate, which is now underway
- Although the company notes the results are “encouraging”, it says its focus remains in and around the envisioned RPM Mining Complex at the Estelle project
- NVA shares are down 5.94 per cent and trading at 47.5 cents at 3:57 pm AEDT
Nova Minerals (NVA) has delineated a new broad zone of gold at the Cathedral prospect within the Estelle joint venture project in Alaska.
Maiden drilling at the prospect within the Korbel Mining Complex in the tenement’s north returned a 354-metre intercept grading 0.3 grams per tonne (g/t) gold as well as a 269-metre intercept grading 0.4 g/t gold.
Drilling was completed at Cathedral last year below previously-discovered surface rock chip samples to enable a maiden resource estimate, which is now underway.
Nova CEO Christopher Gerteisen said while the mineralised zone was 200 metres below where the rock chip samples were taken, as the company worked toward the surface, there remained “further potential” to intersect more shallow gold.
Nova said the mineralisation was open from surface in all directions over a 500-metre strike length and up to 350 metres in width.
Additionally, the company said the initial results indicated there was a “significant opportunity” for higher-grade blowout zones within the core of the mineralisation above the current drill results.
Nova Minerals told investors drilling planning for this year had begun and would focus on further high-grade resource definition at the RPM deposit.
“Despite the very encouraging initial results at Cathedral, it is important to note at this time the company is focusing its efforts primarily in the southern area of the Estelle gold project in and around the envisioned RPM Mining Complex,” Mr Gerteisen said.
NVA shares were down 5.94 per cent and trading at 47.5 cents at 3:57 pm AEDT.