- Nova Minerals (NVA) now owns 70 per cent interest in the Alaskan Estelle Gold Camp
- This agreement now allows Nova to significantly fast-track development at the project
- Nova expects to earn up to 85 per cent in the project in the near future
- Nova Minerals is up 2.33 per cent on the Australian Securities Exchange and is selling shares for 4.4¢ apiece
Nova Minerals (NVA) now has a 70 per cent interest in the Estelle Gold Camp in Alaska.
This agreement significantly escalates Nova’s position to continue fast-track development. Nova expects to earn up to 85 per cent in the project in the near future.
The Nova Estelle project holds some of North America’s largest gold deposits.
Immediate priorities include a resource upgrade at Oxide Korbel Blocks A and B, additional drilling at Oxide Korbel, and to build on the maiden inferred gold resource.
“Completing the move to 70 per cent in a quick time considering the resource achieved open in all directions demonstrates Nova’s intent, ambition, strategy and its absolute confidence to fully explore and ultimately develop the Estelle Gold Camp,” Managing Director Avi Kimelman said.
“We are committed to significantly increasing the current 2.5Moz resource and move the Korbel prospect to development stage during the course of 2020,” he added.
Avi says Nova’s greatest accomplishment in 2019 on such a small budget was providing up to 2.5 million ounces of gold in the inferred category in a very short period of time.
The company also demonstrated exceptional gold leach recoveries, averaging 76 per cent at the Korbel Gold Deposit.
“We look forward to amplifying our exploration and project development efforts in 2020 and are committed to keeping our shareholders constantly updated on our progress,” Avi told the market.
“The company is confident with its prioritised systematic exploration strategy
and the team’s commitment is on track to solidify the Estelle Project as the
next emerging major gold camp,” he added.
Nova Minerals is up 2.33 per cent on the Australian Securities Exchange and is selling shares for 4.4¢ apiece at 1:21 pm AEDT.