Nova Minerals (ASX:NVA) has staked an additional 63km-square of mining claims on the eastern side of its existing Estelle tenements in Alaska’s ‘prolific’ Tintina Gold Belt.
The additional claims, which are all located on State of Alaska public lands, represent a 14% increase in the $50.61 million market capitalisation company’s current holdings and expand the claim block to a total of 513km-square.
Nova completed a mapping and sampling program over the claim area over the past few months, and assay results for the soil and rock chip samples taken from the area are yet to be received.
The company adds that initial geological observations from the area look ‘promising’ for gold, silver, copper, and antimony mineralisation.
Commenting on the new claims, Nova Minerals Chief Executive Officer (CEO) Christopher Gerteisen says: “The new claim area is situated to the north of Train and to the east of the Stoney prospects, which are 2 of our highest-ranked targets at Estelle, where we have already confirmed high-grade gold, silver, and copper targets.
Our geologists have long recognised this area as having potential for mineralisation, and this year we finally got out there to conduct reconnaissance and confirmed that the same mineralised rock units found at Estelle extend into the new claim area.
All the indicators are present there for the styles of mineralisation that have been discovered thus far across the district. These include intrusive related gold systems (IRGS) similar to RPM and Korbel and porphyry copper-gold systems similar to US Gold Mining Inc’s nearby Whistler Cu-Au deposit.
“Our geologists have long recognised this area as having potential for mineralisation“
In addition, we have made exciting new observations, with indications of antimony mineralisation noted as an abundance of massive Stibnite hosted in quartz veins within areas coinciding with potential gold mineralisation. Stibnite is the primary ore source for the critical mineral antimony.”
Nova Minerals is focused on becoming a global gold producer through its Estelle Gold Project, which contains multiple mining resources across a 35km-long mineralised corridor of over 20 identified gold prospects, including 2 defined multi-million-ounce resources across 4 deposits containing a combined 9.9 million ounces of gold.
As of 30 June 2023, the company had $19.241 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Nova Minerals