Join our daily newsletter At The Bell to receive exclusive market insights
- Nova Minerals (NVA) restarts drilling at the RPM deposit within its flagship Estelle gold project in Alaska
- The aim of this drilling is to grow and convert the current 1.5 million ounce resource into the indicated category for the upcoming phase two scoping study
- Drilling has begun west of hole RPM-005 which intersected 132 metres at 10.1g/t gold in September 2021
- Additional rigs are being mobilised to RPM with a second expected to begin drilling next week and a third to begin operations by the end of June
- Nova is up 6.25 per cent with shares trading at 59.5 cents at 1:04 pm AEST
Nova Minerals (NVA) has restarted drilling at the RPM deposit within its flagship Estelle gold project in Alaska.
The aim of this drilling is to grow and convert the current 1.5 million ounce resource into the indicated category for the upcoming phase two scoping study scheduled for later this year.
Drilling has begun west of hole RPM-005 which intersected 132 metres at 10.1g/t gold in September 2021. Further, hole RPM-005 was the westernmost hole in the 2021 drilling program.
Additional rigs are being mobilised to RPM with a second expected to begin drilling next week and a third to begin operations by the end of June.
Drill results will be reported on throughout the year as they become available.
“We are extremely excited to recommence drilling at the high-grade RPM deposit, which continues to amaze us. It is very gratifying to start from scratch in a new frontier doing what we do best and make such a significant discovery as we already have at the RPM deposit,” CEO Christopher Gerteisen commented.
“With RPM showing all the signatures for over 1.4 kilometre in strike length we expect to rapidly increase both the size and confidence of the deposit in the current drill campaign.
“Nova is in an ideal position to achieve our goal of progressing both Korbel Main and RPM into production, whilst concurrently unlocking the Estelle Gold Trend.”
Nova was up 6.25 per cent with shares trading at 59.5 cents at 1:04 pm AEST.
