Nova Minerals (ASX: NVA) has reported a 54.9% increase to the global gold resource at its Estelle Project in Alaska’s Tintina Gold Province.
The JORC-2012-compliant resource, now totalling 9.6 million ounces, is derived from the Korbel and RPM deposits, two of 15 ‘major’ prospects located within the 324m² project.
Speaking on the update, Nova Minerals CEO Christopher Gerteisen said: “Korbel Main at our Estelle Gold project is a ‘company-making’ deposit with high grades continuing to highlight the massive upside potential that remains.
“Korbel Main at our Estelle Gold project is a ‘company-making’ deposit”
Korbel Main changes the future for Nova and our shareholders. It only represents a small area of the extensive local mineralised system.
Nova’s management, with much credit to our team on the ground, has taken the Estelle Gold Project from discovery to a multi-deposit gold district in a short timeframe and on relatively limited funding and the exciting point is that we’re only getting started.”
The update includes a maiden 3 million ounce indicated resource at Korbel Main, which comes following infill and extensional drilling at the prospect. Inferred resources at Korbel also increased by 8.5% to 5.1 million ounces.
The company notes that assay results remain outstanding for over 8,000m of drilling at Korbel Main, while a series of diamond rigs are due to begin work soon at RPM in advance of a planned mineral resource update in 2022.
Images: Nova Minerals Limited