Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA, OTC:NVAAF, FRA:QM3) has outlined a potentially significant new gold anomaly at its flagship Estelle Gold and Critical Minerals Project in Alaska, with early-stage surface sampling at Portage Pass pointing to similarities with the nearby multi-million-ounce Korbel deposit.
Results from the 2025 field season at the Portage Pass prospect, located about 2.5 kilometres south of Korbel, have identified a broad zone of gold mineralisation supported by both soil and rock assays.
The company said the geochemical signature at Portage Pass appears comparable to Korbel, but with mineralisation that is potentially more consistent and of slightly higher grade — an encouraging sign given Korbel’s scale and its role as a cornerstone of the wider Estelle project.
Estelle property map showing the extensive 2025 exploration program
Early results highlight near-surface gold potential
Initial sampling has already returned a cluster of encouraging assays across the prospect area.
Seven rock samples returned grades above 2 grams per tonne (g/t) gold, including a peak of 14.3 g/t, while 10 soil samples exceeded 0.5 g/t, topping out at 1.8 g/t. These results were generated along ridgelines above the Portage Creek valley, suggesting the system may extend into the valley below.
Nova’s general manager and geologist Hans Hoffman said the proximity to existing resources and proposed infrastructure added to the prospect’s appeal.
“The 2025 surface sampling at Portage Pass has outlined a broad gold anomaly just over the ridge from the established Korbel deposit,” Hoffman said.
“These early results reinforce our belief that the greater Estelle district continues to deliver new opportunities with real upside potential.”
Portage Pass Valley looking East and Sample E397324 – 9.6 g/t Au
Building scale across Estelle
The Portage Pass results form part of a broader 2025 reconnaissance program that covered more than 75 line-kilometres across the Estelle tenure, including 430 soil samples and 170 rock samples collected across multiple target areas.
Across the project, Nova has now reported all assay results from the 2025 surface campaign, which has also highlighted:
- A newly developing large-scale gold-copper system at West Wing
- High-grade gold results of up to 24.6 g/t at the RPM prospect area, generating new drill targets
- The emergence of Portage Pass as a new exploration focus
At Portage Pass specifically, sampling has outlined anomalies across two separate traverses stretching about 3.5 kilometres and 2.8 kilometres, pointing to the potential for a larger, valley-scale mineralised system.
Importantly, the mineralisation style appears analogous to the exploration pathway that led to the Korbel discovery, where initial surface anomalies translated into a substantial resource through follow-up work.
Next steps target valley-scale potential
Nova is now planning a more detailed soil sampling grid across the Portage Creek valley in 2026 to better define the extent of the anomaly.
Subject to those results, the company intends to deploy induced polarisation (IP) geophysical surveys — a key step in identifying subsurface sulphide systems — in line with the methodology used at Korbel.
While Nova noted that stronger geochemical anomalies exist elsewhere across the broader Estelle project, Portage Pass stands out due to its strategic location near existing resources and planned infrastructure, potentially supporting future development pathways.
Portage Pass Sampling
Strategic location adds weight to target
The Estelle project spans more than 500 square kilometres within Alaska’s Tintina Gold Belt, a prolific mineral province that hosts major gold deposits and operations, including Kinross Gold’s Fort Knox mine.
Exploration across the district has continued to build momentum, with new anomalies identified near RPM, gold-copper systems outlined at West Wing, and steady progress on infrastructure and early-stage development initiatives.
With multiple targets continuing to emerge from regional exploration, the latest Portage Pass results reinforce the broader investment case for Estelle as a district-scale gold system with potential for further discoveries.