- Nova Minerals (NVA) has updated the resource estimate for the Korbel Main deposit at its Estelle Gold Project in Alaska
- As of March 31, 2021, the estimated mineral resource for Korbel Main is 4.7 million ounces of gold
- The updated resource comes after Nova Minerals’ 2020 drilling increased the company’s 2019 maiden resource by over two million ounces
- Drilling will continue at Korbel Main, with one rig testing extensions and another rig completing infill drilling
- Nova Minerals is down 6.06 per cent and trading at 16 cents per share
Nova Minerals (NVA) has updated the resource estimate for the Korbel Main deposit at its Estelle Gold Project in Alaska.
As of March 31, 2021, the total mineral resource for Korbel Main stands at 518 metres at 0.3 grams per tonne, for an inferred JORC mineral resource estimate of 4.7 million ounces of gold.
This new resource upgrade refers specifically to Blocks A and B of the Korbel Main deposit. It does not include Korbel’s Blocks C and D, or other outlier priority targets such as Cathedral, You Beauty, Isabella or Sweet Jenny.
This updated resource comes after Nova Minerals’ 2020 drilling campaign increased the company’s 2019 maiden resource by over two million ounces.
Nova Minerals’ CEO, Christopher Gerteisen, commented on how Korbel Main’s global resource continues to grow.
“Our 2020 drilling proved successful, seeing an increase of over 2 million ounces from our 2019 maiden resource, bringing Korbel Main to 4.7 million ounces, which remains wide open in both directions along strike, to the west and at depth,” he said.
“The Korbel deposit has turned out to be so expansive that it will take further infill drilling to get closer drill spacing to provide the data density to more confidently define continuous indicated level resources between the pads,” he added.
Christopher went on to say that infill drilling and further step-out drilling is now a major focus in the company’s ongoing 2021 drilling program. Drilling will indeed continue at Korbel Main, with one rig testing northwest and southeast extensions and another rig conducting infill drilling.
Nova Minerals is down 6.06 per cent, trading at 16 cents per share at 11:04 am AEST.