- Nova Minerals (NVA) receives further results from its infill drilling program at the Korbel Main deposit, within the Estelle Gold Project in Alaska
- The company said the results confirm the continuity of mineralisation at the deposit
- According to NVA, the results could positively impact on the early-stage mine schedule, but this will be confirmed in the fourth quarter of 2021
- On the market this morning, Nova is up 13 per cent and is trading at 13 cents per share
Nova Minerals (NVA) has confirmed the continuity of mineralisation at the Korbel Main deposit, within the company’s flagship Estelle Gold Project.
The company has received further results from its infill drilling program, which is aiming to upgrade the majority of the inferred resource to the indicated category.
Results include 311 metres at 0.5 grams per tonne (g/t) of gold and 125 metres at 0.5g/t of gold.
According to NVA, these results continue to show the Korbel Main deposit has significant scale with high-grade blow-out zones within the continuous mineralisation.
This news comes days after Nova confirming mineralisation at the deposit.
CEO Christopher Gerteisen is pleased with the drilling at the project so far.
“The significant intercepts we continue to intersect within the high-grade feeder zone are very encouraging indeed. We have almost 30 holes in the lab awaiting assays and with drilling ongoing at a fierce pace more results will continue to stream in every week,” Mr Gereisen said.
“The Nova believes that recent results, which include higher-grade material, will reflect an upgrade in the next MRE later this year. As these results are also located in the starter zone, there may also be a potentially positive impact on the early-stage mine schedule.”
Nova is still awaiting assay results from over 10,000 metres of drilling for both Korbel Main and RPM deposits.
The company’s multi-pronged drilling strategy is designed to advance Korbel Main deposit towards being bankable by 2023.
On the market this morning, Nova is up 13 per cent and is trading at 13 cents per share at 10:31 am AEST.