Nova Minerals Ltd (ASX:NVA) has discovered another major mineralised zone within the company’s flagship Estelle Gold Project situated in the prolific Tintina Gold Belt in Alaska.
The company’s reconnaissance exploration program has identified high-grade rock chip samples from the Polymetallic Stoney Prospect which includes values up to 48.4g/t gold, 2720g/t silver and 2.4% copper.
Importantly, follow up geophysics and drill program planning are underway for the Stoney Prospect and surrounding areas scheduled to begin in 2022.
Extensive polymetallic vein system
“The success of the 2021 reconnaissance exploration program further confirms the depth and scale of the Estelle Gold Project," Nova CEO Christopher Gerteisen said.
“These rock chip sample results, which include high-grade silver, copper, as well as gold, open up another dimension for Estelle with the discovery of an extensive polymetallic vein system.
“The Stoney vein was mapped along almost 4km of mineralized strike (Figures 1,2,3) which represents more than 300m of vertical extent.
“The vein is exposed and outcropping along significant portions of this distance with widths of 10-15m observed in places.”
Reconnaissance exploration program
Nova Minerals sampled the massive polymetallic Stoney Vein Prospect during the 2021 reconnaissance program and discovered an inferred strike length of 3.8 kilometres yielding anomalous gold, silver, and copper results.
Importantly, geophysical programs will be planned to better define the extent of Stoney and nearby splays, as Stoney warrants drilling in 2022.
While working in the vicinity of Stoney, crews discovered the Rainy Day vein, another massive polymetallic vein to the northwest of the main Stoney occurrence.
This vein is similar in nature to Stoney with massive pyrrhotite plus chalcopyrite and arsenopyrite, and is likely a splay off of the main Stoney Vein.
Rock Sample Highlights
Is this a company making discovery?
NVA has now unlocked three high priority targets and the potential for another large-scale mineralised system.
“The geologists also mapped numerous parallel stacked veins and splays, such as the Rainy Day Vein, which returned high-grade results and is part of the same mineralised system,” Gerteisen said.
“The Stoney prospect discovery highlights further potential of another large-scale mineralized system within the Estelle Gold Project, now with silver and copper upside as well.
“The Stoney Prospect is situated between the current 4.7-million-ounce Korbel deposit and the RPM deposit to the south as outlined in Figure 4 below.
“This now unlocks three priority deposits, which are all company makers on their own, within the Estelle District.”
Estelle exploration sampling.
Promising geology
Gerteisen adds: “The Korbel Main deposit with a resource that continues to advance in both size and confidence on the path to production, the RPM deposit with a Maiden resource coming soon.
“In addition, the 2021 recon exploration field program has identified further prospects with promising geology also observed.
”Sample results from the other prospects are pending and further news will be released in short order.
“In time, we expect to define multiple new shallow gold resources that will further support our goal of aggressively growing the resource inventory as we continue to move towards production at the Estelle Gold Project.
“We will keep the market updated on the results of these programs as we progress.
“As this massive polymetallic discovery at Stoney Prospect once again shows, there is no shortage of targets at Estelle, which we are systematically working through, with further success expected on the horizon, as we continue to turn the district into one of North America’s leading new gold camps.”
About Nova Minerals
Nova Minerals is focused on gold exploration in the Tintina Gold Province in Alaska.
The company's cornerstone Estelle Gold Project currently hosts a 4.7-million-ounce gold resource and includes 15 known prospects.
As well as its gold assets, Nova has established a diversified portfolio of interest in other minerals, including a stake in aspiring lithium developer Snow Lake Resources Ltd to be listed on the NASDAQ, RotorX aircraft manufacturing, developer of heavy lift eVTOL’s and fellow ASX-listed gold explorer Torian Resources Ltd (ASX:TNR).