Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) is gearing up to kickstart further resource development drilling at its flagship 9.6-million-ounce Estelle Gold Project in Alaska’s prolific Tintina Gold Belt after geophysics confirmed further continuous zones at the RPM deposit.
Nova recently doubled down on a magnetic anomaly during a regional geophysics campaign at RPM, which served to further confirm a mineralised intrusive contact zone at the gold deposit.
This contact zone was pinpointed by a drill hole last year, which intersected 132 metres at 10.1 g/t gold and returned an average grade of 3.5 g/t gold over 400 metres from surface.
What’s more, the anomaly correlates directly with the high-grade mineralised intrusive contact and is further supported by drill hole structural data and surface geological observations.
Looking ahead, Nova plans to complete more than 23,000 metres of drilling across RPM in the new year as it works to prove up and extend the deposit’s gold resource.
Building on gold resources
Nova Minerals chief executive Christopher Gerteisen said the latest result strengthened his confidence in the size and tenor of RPM, which remains open in all directions.
“Over 20,000 metres of diamond drilling is planned in RPM’s northern area to extend strike up to 1 kilometre to the west of RPM005 as confirmed by magnetic anomaly.
“Dense drill spacing around the existing resource area is aimed at proving up a significant portion of the RPM resource to higher confidence indicated status.
“With support infrastructure in place, and several rigs now gearing up, our corporate goal is to expand the existing 1.5-million-ounce inferred resource at RPM, and in turn, build Estelle’s current 9.6-million-ounce estimated total gold resource in 2022.
Resource development drilling
Speaking on the gold deposit’s prospects, Gertesein said the untested southern areas of RPM also showed considerable potential.
“Over 3,000 metres of diamond drilling is also planned to intersect and define additional resources in RPM’s southern area, which shows a much larger surface sample mineralised footprint and a high-grade gold zone similar to what we’ve found in RPM’s northern areas.
“The surface footprint in RPM’s south as defined by surface rock samples is actually much larger than what we encountered in RPM’s north.”
The Nova CEO said the company would continue to progress its Korbel deposit towards production, with ongoing studies and drilling in concurrence with drilling at RPM.
Next up
Nova has closed the books on program planning and design activities as it prepares to continue drilling at RPM.
At least two drill rigs will come on board to kick off the resource development drilling programs, which aim to expand and prove up the 1.5-million-ounce gold resource.
More than 20,000 metres of diamond drilling is pencilled in at RPM North in a bid to extend the strike up to 1 kilometre to the west, as confirmed by the magnetic anomaly.
Simultaneously, dense drill spacing around the existing resource area is designed to prove up a substantial portion of the RPM resource to the higher confidence indicated status.
In addition, more than 3,000 metres of diamond drilling is planned to intersect and define additional resources at RPM South, which shows a much larger surface sample mineralised footprint.
Finally, Nova plans to complete ground and/or drone detailed IP geophysics surveys across RPM to further identify additional mineralised zones.
About Nova Minerals
Nova’s vision is to develop North America’s next major gold trend.
The company is focused on exploration in Alaska’s prolific Tintina Gold Belt, a province that hosts a 220-million-ounce documented gold endowment and some of the world’s largest gold mines and discoveries, including Victoria Gold’s Eagle Mine and Kinross Gold Corp’s Fort Knox Gold Mine.
Hosting a total, JORC-compliant gold resource of 9.6 million ounces, the company’s cornerstone Estelle Gold Project is a 35-kilometre corridor made up of 17 identified gold prospects.
It’s bracketed by the Korbel deposit to the north and the RPM deposit in the south — both of which are subject to extensive resource development programs.