Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) has intersected broad zones of high-grade gold from drilling at the RPM North Prospect within its flagship Estelle Gold Project in Alaska, including a hit of 132 metres at 10.1 g/t gold.
Drilling at RPM North returned results including:
- RPM-005
- 373 metres at 3.8 g/t from 7 metres;
- 287 metres at 4.8 g/t from 7 metres;
- 241 metres at 5.7 g/t from 7 metres;
- 187 metres at 7.3 g/t from 34 metres;
- 153 metres at 8.8 g/t from 68 metres;
- 132 metres at 10.1 g/t from 89 metres;
- 2.6 metres at 35.6 g/t from 128 metres;
- 2.4 metres at 41.8 g/t from 125 metres;
- 2.4 metres at 50.3 g/t from 161 metres; and
- 3 metres at 97.8 g/t from 169 metres.
Nova Minerals CEO Christopher Gerteisen said: “RPM once again delivers company making results.
“The tenor and continuity of these drilling intersections is most impressive indeed.
“These broad zones of high-grade confirm our geological interpretations which identified RPM as a high priority target.”
Cross Section of RPM-005.
“The RPM deposit is shaping up to be a very large high grade IRGS style gold system that remains wide open with results from 3 drill holes to be reported in the coming weeks.
“Once all results have been received, we will be able to send the data to the independent consultant to prepare our Maiden Inferred Resource for RPM North.
“Furthermore, we are now planning to have at least 2 drill rigs at RPM in the next round of drilling with a rig designated for what looks to be the much larger RPM South gold zone, which we believe will converge with RPM North at depth.”
RPM-005 drill core interval at 124-128 metres (407.21-420.10 feet) depth returning 41.8 g/t Au.
“This marks a major milestone for Nova Minerals.
“RPM is now confirmed to be the second significant project development area at Estelle and will be a key component of our ongoing resource development work on our path towards production at the Estelle Gold Project.
“This is what unlocking a district looks like, and we will continue to do so with Korbel and RPM representing only two of 15 known prospects with the wider Estelle Gold Project claims.
“In addition to these, there are numerous unnamed colour anomalies across our 324 square kilometres claim block.”
In search of further discoveries
Nova’s reconnaissance exploration teams had another successful field season in 2021, with their efforts leading to at least two further significant discoveries.
The Stoney prospect represents an extensive Polymetallic gold-silver-copper Stacked Vein System which adds another dimension to the project potential beyond gold.
The Train-Shoeshine area uncovered what appears to represent another Intrusive Related Gold System (IRGS).
Both prospects returned broad zones of high-grade across the spectrum in surface rock samples.
Nova will continue to systematically advance these prospects and continue with its recon exploration programs in search of further discoveries.
“On the fast-track towards production”
Gerteisen added: “The drill program at Korbel will continue for the rest of the year, and we look forward to bringing shareholders further results as they become available.
“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 gold production at the Estelle Gold Project.
“Remember, we are on the fast-track towards production- that is our goal.
“We currently have 4.7 million ounces at the Korbel Main deposit, which represents just the beginning of our Estelle journey with the global resource inventory expected to increase significantly in the near term, especially now with RPM’s maiden resource expected later this year.”