Nova Minerals expands mineralisation footprint at Korbel target within Estelle gold project
Assay results from diamond drilling at Nova Minerals’ (ASX: NVA) Korbel Main discovery within the Estelle project in Alaska’s Tintina gold belt have confirmed a wide swathe of continuous mineralisation south-east of the current 3.3 million ounce resource.
The mineralisation is believed to expand Korbel’s footprint by approximately 2000 metres (or 30%) from the south-east extension to the north-west Isabella target and has been evident from surface to depths of 500 metres.
One of the drillholes terminated in 1.2 grams per tonne gold at 594m, clipping the high-grade south-east extension zone currently being targeted at Korbel.
Best intercepts from that hole include 586m at 0.3g/t gold from 7m; 336m at 0.4g/t from 258m; 128m at 0.5g/t from 363m; 27m at 0.6g/t from 261m; 46m at 0.6g/t from 362m; and 3m at 1.2g/t from 591m.
Most important hole
Nova chief executive officer Christopher Gerteisen said the hole has been the most important one drilled so far at Korbel and confirms the substantial footprint extension.
“The rocks we are seeing within this south-east extension feeder zone are some of the most spectacular we have seen to date,” he said.
“It is very encouraging to see such strong and wide gold intersections extending beyond the current resource block [which] enhances the possibility of adding greatly to Korbel’s resource inventory at [our] next resource upgrade in the new year.”
Round-the-clock program
Drilling continues around-the-clock with one rig testing the newly-defined extension and a second rig drilling at the Block D target which last month produced “encouraging” core with similar sheeted quartz-arsenopyrite vein mineralisation.
The rigs are scheduled to drill test Block C and the Isabella target in due course.
“We have a very active winter season ahead of us with exploration, economic analysis and [environmental, social and governance] studies to be run concurrently,” Mr Gerteisen said.
“Korbel’s mineralisation remains wide open in all directions and it is certainly something special to behold… it is full steam ahead as we continue to unlock this world-class resource.”
Nova has submitted more than 15,000m of samples to date to the ALS Geochemistry lab in the town of Fairbanks.
The Estelle gold project has been earmarked for a fast-tracked development following the completion of a $21 million capital raising this week.