- Nova Minerals (NVA) shares spike following reports of some broad, high-grade gold results from drilling at the RPM North prospect within the Estelle gold project in Alaska
- Drilling has returned broad intersections of 153 metres at 8.8 grams of gold per tonne (g/t) as well as ‘bonanza’ grades of up to 97.8g/t gold over three metres
- Nova confirms RPM North as the second significant development area of the Estelle project and is preparing for a maiden inferred resource before the end of the year
- Company shares are up 63.6 per cent on the back of these results to trade at 18 cents at 1:11 pm AEST
Nova Minerals (NVA) shares have spiked after the company announced high-grade gold results from the RPM North prospect within its Estelle gold project in Alaska.
Drilling at the prospect returned both broad and high-grade intersections including 153 metres at 8.8 grams of gold per tonne (g/t) from 68 metres, 132 metres at 10.1g/t gold from 89 metres, 123 metres at 10.8g/t gold from 95 metres, 98 metres at 12.6g/t gold from 95 metres and 86 metres at 14.1g/t gold from 123 metres.
Drilling also returned ‘bonanza’ gold results over shorter intervals. Results include 2.4 metres at 41.8g/t gold from 125 metres, 2.4 metres at 50.4g/t gold from 161 metres, and three metres at 97.8g/t gold from 169 metres.
CEO Christopher Gerteisen was pleased with the newest results.
“RPM once again delivers company-making results. The tenor and continuity of these drilling intersections is most impressive indeed. These broad zones of high-grade confirm our geological interpretations which identified RPM as a high priority target,” he said.
Nova Minerals believes the RPM deposit is becoming a large, high-grade intrusion-related gold system that remains wide open.
The company is still waiting on some results for RPM North and will use them to deliver a maiden inferred resource.
“This marks a major milestone for Nova Minerals. RPM is now confirmed to be the second significant project development area at Estelle and will be a key component of our ongoing resource development work on our path towards production at the Estelle Gold Project.
“This is what unlocking a district looks like, and we will continue to do so with Korbel and RPM representing only two of 15 known prospects with the wider Estelle Gold Project claims.”
Maiden drilling has been completed at RPM North with all rigs moved back to the Korbel Main deposit to maximise infill and extensional data.
Company shares were up 63.6 per cent on the back of these results to trade at 18 cents at 1:11 pm AEST