Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) continues to hit high-grade gold at the RPM North Deposit within the Estelle Gold Project Alaska, with the latest assays of up to 24 metres at 24.7 g/t gold.
Infill and extensional resource drilling at RPM are ongoing with two rigs at RPM North and one rig at RPM South. Significant new results include:
RPM-008
- 140m (metres) @ 6.5 g/t Au (gold) from 44m including;
- 87m @ 10.1 g/t Au
- 56m @ 15.0 g/t Au
- 24m @ 24.7 g/t Au
RPM-010
- 155m @ 2.4 g/t Au from 16m including;
- 94m @ 3.8 g/t Au
- 61m @ 5.6 g/t Au
- 30m @ 10.0 g/t Au
The latest results at RPM continue to prove up areas of high-grade gold mineralisation (+2g/t) within the existing RPM North resource area.
Nova CEO Christopher Gerteisen said: “The RPM Deposit continues to deliver more thick intercepts of exceptionally high-grade gold.
“These latest assay results confirm continuity and validates broad shallow zones of particularly high-grade gold mineralisation from surface within the much larger and broader RPM gold system.”
Drillholes RPM-008 and RPM-010 were completed to infill and test the continuity of high-grade mineralisation around hole RPM-005 to prove up the resource within the RPM North Deposit to the higher confidence Indicated category.
Results from both RPM-008 and RPM-010 support previous results from RPM-005 which confirms continuity of the high-grade gold zone from surface to a depth of over 250m tested thus far and remains open at depth (Figure 1).
Figure 1. RPM North Section 501950mE showing continuity of mineralisation.
Visible gold was also observed in drill core from RPM-008.
The ongoing drilling program continues to provide high-quality geological data that is being collated and interpreted to provide greater deposit knowledge.
The nature and geometry of the intrusive units and interplay with structures are key to controls on gold mineralisation.
These geological and interpretative insights are invaluable in developing further targets for the ongoing exploration programs within the RPM area as well as the greater Estelle Gold Trend.
Phase 2 scoping study on track
Gerteisen added “We will report further drill results as they are received from the lab for the ongoing 2022 Estelle Gold Project drilling programs and remain on track to deliver the Phase 2 Scoping Study in the near term, before moving into the PFS which aims to increase the gold production schedule and NPV significantly, as we continue on our path towards commercial production.”