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Nova Minerals debuts 1.5Moz gold resource for RPM discovery, ‘massive upside’ remains

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By Lorna Nicholas - 
Nova Minerals ASX NVA RPM North maiden gold resource 2021 Estelle project

Nova chief executive officer Christopher Gerteisen says RPM is an “exceptional” discovery and highlights Estelle’s “massive upside potential”.

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Nova Minerals (ASX: NVA) has debuted a maiden 1.5 million ounce resource for the RPM North target within its Estelle gold project in Alaska.

The maiden estimate stands at 2.31 million tonnes grading 2 grams per tonne gold for the 1.5Moz of contained metal.

This is on top of the existing 4.7Moz resource for the Korbel Main deposit.

Including the maiden RPM North estimate, global resources for Estelle total 541Mt at 0.4g/t gold for 6.2Moz.

Nova chief executive officer Christopher Gerteisen described RPM as an “exceptional” discovery within Estelle, saying it highlights the project’s “massive upside potential”.

“This has really changed the future for Nova and our shareholders.”

“This is a transformational period for Nova – we are truly just getting started and are excited with what lies ahead for our shareholders,” Mr Gerteisen added.

Unlocking Estelle gold district

Korbel Main and RPM North account for only two out 15 known occurrences at Estelle.

RPM North remains open at depth and along strike. The deposit starts less than 2m from surface and represents under 0.5% of the total Estelle project area.

Additionally, further upside has been identified at the RPM South target, which has a much larger footprint but remains to be drilled.

Mr Gerteisen said the company is sourcing more rigs and currently has five at the project which are focused on growing resources at Korbel Main and RPM North.

“In addition, we will be testing numerous targets within the large Estelle gold district as rigs and time permit, including the recent discoveries at the Train-Shoeshine IRGS gold prospects and at the Stoney polymetallic stacked gold-silver-copper vein system.”

“I have no doubt we will be drilling and growing our total global resource inventory for many years to come,” Mr Gerteisen added.

Assay results are pending for more than 10,000m of drilling at Korbel Main, with a resource update to be delivered for the deposit before the end of the year.