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Nova Minerals expands Estelle gold project with drilling at the untested Train prospect

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By Robin Bromby - 
Nova Minerals ASX NVA Train prospect maiden drilling gold
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Nova Minerals’ (ASX: NVA) flagship Estelle gold project in Alaska project is about to be expanded as the company moves its drill rig to the so far untested Train prospect.

Surface gold occurrences have been collected by geologists at Train over several years.

Nova says these occurrences have indicated the potential for Train to host another large intrusive-related gold system (IRGS), similar to the company’s structure at its RPM prospect.

Train is located 7km north of RPM.

High grade rock chip samples

Up to 12 diamond drill holes are planned at Train, with the company selecting prospective targets after a study of mineralisation.

Nova wants to establish an inferred resource estimate there by the end of the year.

While Train has never been drill-tested, its IRGS and shear hosted mineralised zones have been the source of high-grade rock chip.

Those results announced last January included assays of 80.2 grams per tonne gold, 30.4g/t, 24.5g/t, and 21.6g/t gold.

Review on shortening development timetable

The RPM North and RPM South drilling programs have been completed with assays pending.

Drilling at RPM is now focused on a second intrusive found in the 2022 drill program.

Nova says its board has now begun a strategic review, including further optimisation studies, to investigate how the company can get Estelle into operation more quickly.

This year the company intends to have three diamond rigs carrying out work for the pre-feasibility study and these will be operating around the clock.

There will also be extensional drilling to increase the global gold resource.

Located on rich Alaska gold belt

Nova’s Estelle gold project contains multiple mining resources across a 35km long mineralised corridor with more than 20 identified gold prospects.

So far, the company has defined a 9.9 million ounce resource across four deposits.

The project is situated on the Estelle gold trend in Alaska’s Tintina gold belt which hosts a 220Moz documented gold endowment and some of the world’s largest gold mines and discoveries including Victoria Gold’s Eagle Mine and Kinross Gold Corporation’s Fort Knox Gold Mine.