Nova Minerals Limited (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) has increased the size of its Estelle Gold resource during the course of the 20/21 year.
Currently standing at 4.7Moz, Estelle is being explored extensively, Four diamond drill rigs are operating on both the Korbel and RPM prospects.
The Estelle Gold project, which is 85% owned by Nova Minerals, is located 185km northwest of Anchorage, and is currently accessible by helicopter and winter road from Nova's Whiskey Bravo Camp.
Estelle Gold is situated within the Tintina Gold Province which spans portions of Alaska and Western Canada, containing some of the largest gold deposits in the world. Over the last 3 years, Nova has focused on developing the Korbel prospect at the northern end of the tenement. Drilling to date has revealed a convergence of the initially separate Blocks A-D, into Korbel Main.
Nova's drilling at Korbel Main has revealed an extensive highgrade feeder zone in the Southeast portion of the deposit, which remains wide open. Step out drilling has uncovered extensive mineralisation, increasing the length of strike at Korbel Main to 3.3km. Concurrently, the Company has been conducting infill drilling to increase the confidence of the resource. During FY20/21 alone, Nova increased the size of the resource at Korbel Main from 2.5Moz to 4.7Moz. Drilling is ongoing, and the Company plans to release a resource update for Korbel Main in late 2021, accompanied by a maiden resource for the RPM prospect.
During the year, Nova was able to complete the majority of its first scoping study for Korbel Main, from a technical perspective. Nova intends to release it alongside the resource upgrade in late 2021.
To view the Annual Report, please visit:
Nova Minerals Ltd P: +61-3-9614-0600 F: +61-3-9614-0550 WWW: novaminerals.com.au
News Provided by ABN Newswire