- Nova Minerals (NVA) begins drilling at the RPM prospect which is part of its flagship Estelle Gold Project in Alaska
- Drilling will help to deliver a maiden mineral resource estimate later this year
- Nova Minerals is also continuing to drill various areas of the Korbel blocks with about 5000 metres drilled so far
- This work is designed to increase the current resource and upgrade it to the measured and indicated status before undertaking feasibility studies
- Company shares are down 1.67 per cent and trading at 14.8 cents at 12:29 pm AEST
Nova Minerals (NVA) has begun drilling at the RPM prospect which is part of its flagship Estelle Gold Project in Alaska.
Nova previously conducted mapping and sampling at the RPM prospect which is located south of the Korbel blocks. This work returned spectacular grades of up to 103g/t and 291g/t gold. Along with known mineralised zones, the high-grade samples made the RPM prospect one of Nova’s highest priority drilling targets for this year.
Primarily, the 2021 drilling effort will help to deliver a maiden mineral resource estimate later this year.
“The spectacular grades obtained from RPM rock chip sampling in both RPM1 and the newly discovered RPM2 zone alongside the encouraging drill results from the re-sampled historical 2012 diamond drill hole SE12-008 open up another Estelle target outside of the Korbel Valley prospects,” CEO Christopher Gerteisen said.
“In time, we expect to define multiple new shallow gold resources that will further support our goal of aggressively growing the resource inventory as we continue to move towards gold production at the Estelle Gold District,” he added.
Nova Minerals is also continuing drilling at the Korbel Main North and South blocks with about 5000 metres drilled so far. This program is aimed at increasing the 4.7-million-ounce resource and upgrading it to the measured and indicated
status before undertaking feasibility studies.
Company shares were down 1.67 per cent and trading at 14.8 cents at 12:29 pm AEST.