Infill Drilling To Prove-up Inferred Resource To Indicated In Alaska
Nova Minerals Limited’s (ASX: NVA) current infill drilling programme continues to de-risk and grow its Korbel Main deposit, within the company’s flagship Estelle Gold Project in Alaska, located in the prolific Tintina Gold Belt.
CEO, Christopher Gerteisen, said the infill drilling is a key focus with the aim of upgrading the majority of the Inferred Resource to the Indicated Category. This will significantly de-risk the project, enabling Nova to advance funding options.
Latest Infill drilling results have further confirmed continuity of mineralisation within the 4.7Moz Korbel Main Resource, latest results include:
- KBDH-082: 311m @ 0.5 g/t Au; 9m @ 1.0 g/t Au o 9m @ 1.1 g/t Au; 34m @ 1.1 g/t Au; 12m @ 1.3 g/t Au and 3m @ 2.1 g/t Au.
- KBDH-076: 128m @ 0.5 g/t Au; 18m @ 1.0 g/t Au; 15m @ 1.0 g/t Au; and3m @ 3.9 g/t Au
“The infill diamond drilling at Korbel is showing strong support and confidence in the consistency and continuity of gold mineralisation in the Korbel’s large mineralised system,” Mr Gerteisen said.
“The significant intercepts we continue to intersect within the high-grade feeder zone are very encouraging indeed.
“We have almost 30 holes in the lab awaiting assays and with drilling ongoing at a fierce pace more results will continue to stream in every week. The Nova believes that recent results, which include higher-grade material, will reflect an upgrade in the next MRE later this year. As
“ these results are also located in the starter zone, there may also be a potentially positive impact on the early-stage mine schedule. This will be confirmed and outlined in the scoping study to be released post the Korbel Resource update in Q4 2021.
“Nova’s multi-pronged drilling strategy is designed to advance the Korbel Main deposit towards being a bankable project by 2023. We are focusing on proving up the resource to Indicated status, which can then translate into reserve ounces for our planned starter operation.
“At the same time, we are pushing forward the resource development programme at the RPM prospect and unlocking the wider Estelle Gold District, with additional prospects rapidly coming on line. We aim to grow the global resource inventory and advance the Korbel project in parallel.
“This approach will maximise our ability to more rapidly monetise this world-class asset and bring forward the production schedule along with cashflow, allowing us to ramp up future operations in short order across the Korbel Valley and the wider Estelle Gold District. Drilling related news and results will continue to flow throughout 2021 and beyond, as we unlock the Estelle Gold District.”
For further information please visit: https://novaminerals.com.au/