Nova Minerals Limited (ASX: NVA) has confirmed further significant gold intersections received from diamond drilling within the Korbel Mining Complex in Alaska.
Maiden resource definition drilling at Cathedral has identified another broad zone of gold mineralization within the Korbel Mining Complex, located approximately 1.5km south of the proposed processing plant.
“I am pleased to report that the maiden resource drilling programme at the Cathedral prospect has confirmed another very broad and extensive mineralized gold zone, with over 500m in strike length, 350m in width and remains open in all directions,” CEO, Christopher Gerteisen, said.
“The initial wide spaced drill programme was targeted to test below the previously discovered high-grade surface rock chip samples. While the initial drilling intersected the mineralized zone at a depth of ~200 m below where the high-grade surface rock chips samples were taken, as we infill and target closer to the surface in the next round of follow up drilling, there remains further potential to intersect more shallow gold, as well as higher grade blow out zones within the identified mineralized zone at Cathedral.
“In the meantime, it is very encouraging to have discovered another large gold system. This discovery ranks Cathedral as the best future follow up drill target to realize further resource upside within the wider Korbel Mining Complex.
“Despite the very encouraging initial results at Cathedral, it is important to note at this time the company is focusing its efforts primarily in the southern area of the Estelle Gold Project in and around the envisioned RPM Mining Complex.
“With resources at RPM now being proved up through further drilling, and additional resource targets identified in the Train area, the high-grade nature of the deposits, provide opportunity for potentially developing an additional mining centre in the south, which will be tested as part of our PFS trade off studies, upon the completion of the Phase 2 Scoping Study.
“Additionally, the resource definition and extensional drilling undertaken at RPM and Korbel in 2022 is expected to prove up the resources further, and an updated global Mineral Resource Estimate (MRE) is now being completed, with the inclusion of the high-grade RPM ore in the production schedule in the Phase 2 Scoping Study, now well underway.
“With long-term opportunity and the prospect of multiple mining complexes and processing plants across the single project, we continue on our path to becoming a world class, global gold producer.”
For further information please visit: https://novaminerals.com.au/
