Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF, FRA:QM3) has confirmed the potential for a higher-grade starter pit at its Korbel Main Deposit after shallow reverse circulation (RC) drilling outlined a near-surface core grading up to 1.2 g/t gold within the broader bulk-tonnage resource.
The 2025 RC program targeted the upper portion of the Korbel Main resource, which currently stands at 800 Mt at 0.3 g/t Au for 6.64 Moz, part of the wider Korbel Gold Deposit containing a combined 8.65 Moz of gold when including the Cathedral Deposit.
Results indicate a potential pilot starter pit measuring approximately 250 metres by 80 metres and extending to a depth of about 20 metres, positioned within the Korbel Main resource footprint.
Encouraging shallow drill results support pilot pit concept
Fourteen closely spaced RC holes, averaging around 20 metres in depth, were completed to infill areas previously tested by deeper diamond drilling. Despite water table challenges, Nova said sufficient sampling was achieved to improve confidence in the near-surface mineralisation.
Key intercepts from the program included:
- 19 metres at 0.6 grams per tonne (g/t) Au from surface, including 6 metres at 1.0 g/t Au
- 25 metres at 0.5 g/t Au from 1 metres, including 8 metres at 0.8 g/t Au
- 9 metres at 1.2 g/t Au from 1 metres
- 26 metres at 0.7 g/t Au from 1 metres
- 22 metres at 0.7 g/t Au from surface, including 9 metres at 1.1 g/t Au
The RC results align with earlier diamond drilling, which intersected long, continuous zones of bulk-tonnage mineralisation, including intervals exceeding 500 metres at around 0.3 g/t Au with higher-grade internal zones.
Ore sorting upside underpinned by earlier test work
While the RC holes were significantly shallower than previous diamond drilling, the results support plans for a pilot pit to generate material for further ore sorting trials.
Previous metallurgical test work demonstrated that Korbel mineralisation is highly amenable to ore sorting, with material grading 0.4 g/t Au upgraded to more than 6 g/t Au — an increase of more than tenfold — potentially lowering processing costs and improving project economics.
Gold at Korbel occurs within arsenopyrite-bearing quartz veins hosted by granodiorite of the Estelle pluton, with drilling highlighting zones of increased vein density as the main control on mineralisation.
Representative Korbel RC chip sample from the 2025 drilling showing chalcopyrite, pyrite, and arsenopyrite.
Korbel expected to contribute materially to PFS economics
With gold prices around US$4,600/oz, Nova expects the Korbel bulk-tonnage resource to make a meaningful contribution to the economics of the ongoing pre-feasibility study at the Estelle Gold and Critical Minerals Project in Alaska.
Nova Minerals CEO Christopher Gerteisen said the results reinforced the strategic importance of Korbel within the broader project.
“The 2025 RC drilling has defined a near-surface, higher-grade core at Korbel Main and highlights the potential for a pilot starter pit within the 6.64 Moz resource,” Gerteisen said.
“At current gold prices, the combined 8.65 Moz Korbel resource is expected to play a key role in the Estelle PFS, with additional material currently outside the US$1,850/oz pit shell anticipated to be included in future in-pit resources.”
All Korbel drilling results have now been reported, with results from extensive 2025 soil and rock-chip sampling expected once assays are finalised.
What’s next
- Drill results from Stibium
- Further results and potential new discoveries from the 2025 surface exploration mapping and sampling program
- Material PFS test-work results as they become available
- Updated MRE
- Winter trail mobilisation of heavy equipment
- Airborne geophysical surveys to commence in the spring of 2026
- Antimony phase 1 project updates
- Metallurgical test work ongoing
- Environmental test work ongoing
- West Susitna access road updates