Nova strikes ‘highest-grade’ Shoeshine rock sample yet

Nova Minerals (ASX:NVA) announces a new record ‘high-grade’ rock chip sample — containing 1,290 grams per tonne (g/t) gold — from the Shoeshine prospect within its Estelle Gold Project in Alaska, US. 

The $50.61 million market capitalisation company says this is the highest-grade sample ever encountered at Estelle.

Nova has now confirmed the presence of ‘high-grade’ gold and coincident antinomy from the 2023 surface samples and a re-examination of multi-element data from historical samples at both the Shoeshine and the Shadow prospect. 

Some of the ‘best’ surface sampling results from Shoeshine include sample E408520 with 1,290g/t Au, 591g/t silver (Ag), 1% copper (Cu), and 0.9% antimony; and sample E408741 with 96.5g/t Au and 0.1% Sb.

Nova reports that these results further suggest the presence of abundant antimony-enriched style gold mineralisation within Estelle. 

Moving forward, the company’s technical team plans to target and include antimony analysis as part of its focus and assay protocol in ongoing exploration and resource work to determine the potential of antimony in economic studies. 

Nova Minerals Chief Executive Officer (CEO) Christopher Gerteisen says these latest results continue to demonstrate Estelle’s potential, and the company plans to follow up on the sample results in the hopes of setting a new resource. 

“The field exploration sampling and mapping programs have covered a lot of ground, including known prospect areas as well as new areas not previously touched. 

As results continue to be returned, we expect further updates and possibly additional new discoveries to grow the Estelle prospect portfolio.”

“As results continue to be returned, we expect further updates and possibly additional new discoveries to grow the Estelle prospect portfolio”

Nova Minerals Head of Exploration Hans Hoffman adds that ‘all the right pieces to a discovery’ are located within Estelle with these ‘high-grade bonanza’ grades. 

The company notes that assay results are starting to be received back from the laboratory, and it will be reporting more sampling results over the next few weeks, as well as drill results. 

Nova Minerals is focused on developing its flagship Estelle project comprising 513km-square of unpatented mining claims in Alaska. 

As of 30 September 2023, the company had $11.769 million cash and cash equivalents at hand, according to its latest quarterly report.

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Images: Nova Minerals
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.