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- Nova Minerals (NVA) intersects broad zones of continuous high-grade gold at the RPM North deposit within its flagship Estelle gold trend in Alaska
- The company is continuing with infill and extensional resource drilling at RPM North and RPM South, with two recent holes testing the continuity of previous gold mineralisation
- With a peak grade of 51.2 grams per tonne (g/t) gold, the results from RPM North continue to prove up the gold mineralisation in the area
- Drilling is now underway at RPM South, with results to be announced to the market as they are received from the laboratory
- Nova is up 3.53 per cent on the market, with shares trading at 88 cents at 11:02 am AEST
Nova Minerals (NVA) has intersected up to 51.2 grams per tonne (g/t) gold at the RPM North deposit within its flagship Estelle gold trend in Alaska.
The company is continuing with infill and extensional resource drilling at RPM North and RPM South, with two recent holes completed at RPM North to test the continuity of previous gold mineralisation
Hole RPM-015 intersected 161 metres at 8.1 g/t gold from surface, including 14 metres at 51.2 g/t gold from 112 metres.
Hole RPM-018 intersected 113 metres at 1.4 g/t gold from eight metres, including 11 metres at 4.5 g/t gold from 53 metres.
Gold grades averaged 5.1 g/t over 258 metres from RPM-015 and 1.0 g/t gold over 169 metres from RPM-018.
Nova said these results continued to prove up the broad zone of high-grade gold mineralisation at RPM North.
Drilling is now underway at RPM South, with results to be announced to the market as they are received from the laboratory.
“I am pleased to report more shallow high‐grade broad mineralization from our drilling at RPM. This program is part of a targeted program designed to allow for further increases to potential measured and indicated resources in the next MRE on the high-grade RPM deposit,” Nova CEO Christopher Gerteisen said.
“As we continue with our aggressive 2022 diamond drilling program, we are mindful of the extensive delays currently being experienced in the laboratory assay turnaround times, and while we are still hoping to deliver the phase two scoping study on time, the latest results show that it is important that we include as many of the drill results from the current program as we can in the upcoming MRE.
“In light of this, PFS level trade-off studies will now commence in tandem, which aim to optimise the project with a view to increasing the gold production schedule and Net Present Value (NPV) significantly across the Estelle Gold Trend, as we continue on our path towards commercial production.”
Nova was up 3.53 per cent on the market, with shares trading at 88 cents at 11:02 am AEST.
