Join our daily newsletter At The Bell to receive exclusive market insights
- Nova Minerals (NVA) says infill diamond drilling shows continuity of gold mineralisation in Korbel Main Deposit at the Estelle Gold Project in Alaska
- Drilling was conducted to expand and increase the resource category for its upcoming Mineral Resource Estimate (MRE) update later this year
- The company says the results continue to demonstrate the Korbel Main deposit has zones of continuous high-grade mineralisation, which remain open along strike
- Drilling is continuing at Korbel Main, with the goal of increasing the 4.7 million ounces resource to expedite a project feasibility study
- Nova Minerals is trading in the grey at 10.5 cents at 3:08 pm AEDT
Nova Minerals (NVA) has announced that infill diamond drilling at the Korbel Main Deposit at its Estelle Gold Project in Alaska has shown a continuity of gold mineralisation.
Infill drilling was conducted by the company to expand and increase the resource category for its upcoming Mineral Resource Estimate (MRE) update later this year.
Drilling displayed a continuity of mineralisation within the Korbel Main Inferred Resource, with latest results including 277 metres at 0.5 grams of gold per tonne (g/t) and 3 metres at 12.1 g/t gold.
The company said these results demonstrated the Korbel Main deposit had zones of continuous high-grade mineralisation, which remain open along strike with a predicted length of over three kilometres of continuous gold.
“The infill diamond drilling at Korbel is showing strong support and confidence in the consistency and continuity of gold mineralisation in the massive Korbel mineralised system,” Nova CEO Christopher Gerteisen said.
“With these recent results, we believe the broad zones of higher-grade material we are seeing now will reflect an upgrade in the next MRE later this year.”
Infill and extension drilling is continuing at Korbel Main, with its focus now on the high-grade SE feeder zone and the goal of increasing the 4.7 million ounces resource to expedite a project feasibility study.
Assay results are still pending for over 10,000 metres of drilling, while an update on its Snow Lake Resource is due shortly.
“We have almost 30 more holes in the lab awaiting assays and with drilling ongoing at a fierce pace more continue to stream in every week,” Mr Gerteisen said.
Nova Minerals is trading in the grey at 10.5 cents at 3:08 pm AEDT.
