- Nova Minerals (NVA) has announced the Alaska Industrial Development Export Authority (AIDEA) has agreed to work with Nova to advance the West Susitna Access Road
- Nova and AIDEA will work together to permit and develop and all-season direct access road to Nova’s Estelle Gold Project
- The multi-million ounce project is considered high-value in Alaska and aligns with AIDEA’s history of supporting the Alaskan minerals industry
- No payment terms have yet been discussed but Nova is prepared to pour in $100,000 for environmental and engineering work
- Nova Minerals is down 6.38 per cent and shares are trading for 4.4 cents each
Nova Minerals (NVA) has announced the Alaska Industrial Development Export Authority (AIDEA) has agreed to help advance the West Susitna Access Road.
The road would open areas northwest of Anchorage and west of Wasilla, in the western parts of the Matanuska-Susitna Borough where mineral exploration is underway and would link directly to the Estelle Gold District.
AIDEA is a public corporation of the State of Alaska providing development finance. It has a long history of supporting Alaska’s minerals industry including the DeLong Mountain Transportation System, the Red Dog Mine, as well as energy facilities and infrastructure for other mining projects in the state.
Under the agreement, Nova and AIDEA, together with Matanuska-Susitna
Borough, will collaboratively investigate the viability of permitting and
constructing an all-season industrial direct access road to Nova’s Estelle
Gold Project.
“First and foremost, being Alaskan born and bred, I am extremely excited about this initiative for my people and state. The economic and social benefits will be tremendous for the state of Alaska,” Nova CEO Christopher Gerteisen said.
The approval from AIDEA marks the first step towards the construction of an industrial road to the 2.5Moz Estelle Gold Camp and in unlocking the Estelle Gold district at a time the company commencing its drilling program to significantly increase the resource,” Christopher added.
While no specific payment terms have been discussed, Nova is prepared to commit $100,000 as a cost share to the next phase as engineering and environmental work proceeds. The money will also assist in funding further works to unlock the vast district.
Nova has established a 2.5 million ounce inferred gold resource on a small area at Korbel. Korbel is one of 15 known targets within the Estelle Gold Project.
The Korbel deposit remains in open all directions and drilling is underway to expand and increase confidence in the resource.
Nova Minerals is down 6.38 per cent and shares are trading for 4.4 cents each at 2:08 pm AEST.