Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) has identified another major mineralised zone within the company’s flagship Estelle Gold Project in the prolific Tintina Gold Belt in Alaska.
Promisingly, Nova’s exploration mapping and sampling campaign confirms another large Intrusive Related Gold System (IRGS) exposed at the surface at the Shoeshine Prospect.
High-grade gold reconnaissance rock samples from the Train and Shoeshine Prospects include 30.4 g/t, 24.5 g/t, 21.6 g/t, 7.5 g/t, 5.7 g/t and 5.4 g/t.
Another massive IRGS gold system
Nova CEO Christopher Gerteisen said: “More exciting news from the Estelle Gold Project.
“The second rock chip sampling program as part of the 2021 reconnaissance exploration program has delivered more high-grade results in what appears to be another massive IRGS gold system at Train, within Estelle.
“There exists significant potential to add to global resource inventory moving forward, in addition to the existing 4.7 million-ounce gold resource already delineated at the Korbel deposit, the high-grade drill results we are reporting from the RPM gold deposit, and the recent exciting discovery of an extensive outcropping polymetallic gold-silver-copper mineralized vein system at Stoney.
“The combination of historic sampling and our recently completed sampling campaigns in the Train Prospect area have identified two discrete zones of high-grade gold mineralization which are interpreted as part of the same very large IRGS mineralised system.
“Two of these areas cover several kilometres squared and highlight potential for large-scale, high-grade gold mineralization."
Train Prospect high-grade gold results – looking west.
Reconnaissance program
Nova Minerals sampled the gold-rich Train prospect during the 2021 reconnaissance program and discovered anomalous gold in outcrop rock samples and talus fines samples throughout a 6-kilometre traverse extending into the Shoeshine prospect.
Nova achieved three goals at Train during the 2021 field season:
- Followed up anomalous rock samples from 2020 with additional rock sampling.
- Gained a better understanding of the controls of mineralisation to aid drill targeting for 2022.
- Conducted talus fines sampling from Train towards Shoeshine to better understand mineral trends between these two prospects.
Notably, 51 samples were collected at Train and Shoeshine prospects with significant results including:
Growing global resource inventory
“Field teams will be following up on this work with detailed geophysics and mapping in preparation for a future maiden drilling program, which will commence as soon as possible,” Gerteisen said.
“We will continue to systematically advance these types of focused reconnaissance exploration programs, tackling 15 known prospects. We believe this will potentially lead to further similar discoveries as Train and Stoney.
“In time, we expect to define further multiple new shallow gold, silver and copper resources that will further support our goal of steadily growing the global resource inventory.
“We expect more news of this kind as there were other prospects targeted in this year’s reconnaissance exploration work. We will keep the market updated on the results of these programs as we progress.”
Next steps
Follow up geophysics and drill program planning underway for the Train Prospect and the surrounding area is set to begin in 2022.
The RPM deposit remains on track for a maiden resource in late 2021, advancing the prospect through the development pipeline.
Notably, Korbel Main also remains on track for a resource upgrade in the December quarter with a maiden scoping study to follow.
In addition, assay results are pending for over 10,000 metres of drilling from both Korbel Main and RPM prospects
Furthermore, the Snow Lake Resource update is due shortly.
Unlocking Estelle Gold district
“It is encouraging to know we are readily achieving our near- and long-term objectives with the resource set to grow at the 4.7-million-ounce Korbel main deposit, the equally exciting and fast progressing RPM deposit moving through the pipeline with a maiden resource to be released shortly that is supported by very encouraging high-grade drill results thus far, and many years of resource expansion ahead of us across the district,” Gerteisen said.
“We are excited by the high-grade gold, silver and copper discovered at Stoney and now also the Train prospect area, which adds significantly to the potential resource of the Estelle District.
“This all adds up to a large pipeline of projects we will continue to advance unabated with ongoing resource drilling in front of us.
“Our global resource inventory is set to increase significantly in Q4 this year as we continue our progress in unlocking the Estelle Gold district into one of the leading new gold camps in North America, and indeed the world.”
About Nova Minerals
Nova Minerals is focused on gold exploration in the Tintina Gold Province in Alaska.
The company's cornerstone Estelle Gold Project 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) (ASX:TNR).