Nova Minerals mobilises drill rig to RPM Prospect in Alaska

Nova Minerals Ltd (OTCMKTS:NVAAF) (ASX:NVA) (FRA:QM3) has commenced drilling at the RPM Prospect within its flagship Estelle Gold Project in the prolific Tintina Gold Belt in Alaska.

A total of 37 rock samples were collected, and have defined an expanded footprint of the high priority targets within the RPM Prospect.

The samples returned high-grade gold results of 291 g/t, 103 g/t, 13.1 g/t, 9.3 g/t, 9.0 g/t, 8.8 g/t and 5 g/t.

In addition, historical diamond drill hole SE12-008 was re-sampled, and returned results of:178 metres at 0.8 g/t, including 120 metres at 1.0 g/t and 50 metres at 1.8 g/t at RPM.

The goal of the program is to delineate a maiden resource estimate by late 2021.

“Marks the next stage of Nova’s growth”

Nova chief executive officer Christopher Gerteisen said: “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 2012diamond drill hole SE12-008 – open up another Estelle target outside of the Korbel Valley prospects.

“This is in line with our plans to unlock a district containing multiple, large-scale gold deposits.

“One of 15 high priority targets”

The company will commence field exploration work in the coming months to advance the pipeline of additional high priority prospects across the Estelle Project area.

Gerteisen said: “Being one of 15 other high priority exploration targets within the Estelle gold district, RPM is presenting surface features indicative of a much larger footprint than first thought, with a second much larger, high-grade zone now identified.

“We believe there is a possibility that theRPM1 and RPM2 zones converge at depth, and this drilling program is designed to test this theory.

“The team is confident as it continues to advance a pipeline of prospects within the Estelle Gold District.

“The commencement of drilling at RPM marks the start of Nova’s next stage of

growth, for the benefit of all stakeholders.”

RPM rock samples, area of interest and drill plan.

“Increasing Korbel resource size and confidence”

Drilling is continuing at Korbel Main North (Block A, Isabella) and South (Block B) with infill and step-out along the SE strike extension of around 5,000 metres drilled to date.

Nova commenced exploration in 2018 and since then has grown the resource at Korbel Main alone to 4.7 million ounces.

The company’s goal is to substantially increase the resource and to upgrade it to measured and indicated status – with a view towards expedited project feasibility studies.

Gerteisen said: “[Korbel Main] remains wide open to the North-West and South-East, with drilling ongoing on these extensions to increase resource both in size and confidence.

“We have a highly qualified local field crew and consultants in place to fast track our field, economic and environmental programs as we drive forward with our plan to progress the Korbel Main prospect through to production.”

The company is also nearing completion of the scoping study on the Korbel Main deposit and is currently establishing an on-site sample prep-lab facility with construction completed and dialling in of the crushers underway.

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.”

Story by ProactiveInvestors