Nova Minerals confirms RPM gold discovery with ‘impressive’ assays

Nova Minerals ASX NVA RPM gold Greater Estelle drill program
A highlight intercept was 128m at 1g/t gold, including 42m at 1.5g/t gold and 3m at 4.1g/t gold.

With “impressive results” now at hand from a maiden drilling program, Nova Minerals (ASX: NVA) has confirmed its gold discovery at the regional RPM prospect, which is part of its wider Estelle project in Alaska.

The company has revealed “significant intercepts” from drilling at RPM and says the results validate its strategy to unlock the wider Estelle project.

Highlight assays were 128m at 1 gram per tonne gold, including 42m at 1.5g/t gold and 3m at 4.1g/t gold; and 37m at 1g/t gold, including 6m at 4.2g/t gold and 3m at 7g/t gold.

Six holes have been drilled at RPM, with assays pending for four holes.

Nova chief executive officer Christopher Gerteisen said the RPM results were a “major milestone” for the company.

“RPM is now confirmed as the next discovery within the Estelle gold project.”

“Unlocking the district is no longer merely a plan – we have unlocked it.”

Mr Gerteisen said the results add “serious depth” to Estelle, where there is already a “world-class” resource at Korbel Main.

He pointed out that RPM was “ideally situated” on a ridge top – making it a potentially cost-effective future mining scenario.

Many more untested targets

“It is important to remember that Korbel Main and RPM are only two of 15 known prospects within the wider Estelle project claims,” Mr Gerteisen noted.

There are also many other unnamed anomalies across the 324 square kilometre project.

Reconnaissance teams have completed their 2021 field programs across Estelle with assays due in the “coming weeks”.

Korbel Main deposit

With a discovery at RPM under its belt, Nova has moved all rigs to the 4.7 million ounce Korbel Main deposit to ramp up infill and extensional drilling.

The aim at Korbel Main is to aggressively grow resources even further and upgrade confidence.

Mr Gerteisen said drilling at Korbel Main would continue at “full pace” into the foreseeable future.

“We are on the fast-track towards production – that’s our goal,” he said.

Another resource update is expected in the December quarter followed by a scoping study.

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