Nova Minerals to undertake further resource drilling at RPM after geophysics confirms extensions to anomaly

Nova Minerals ASX NVA resource drilling RPM geophysics extensions anomaly gold
Previous drilling at RPM intercepted 400m at 3.5g/t gold from surface, including 132m at 10.1g/t gold from 89m, and 3m at 97.8g/t gold from 169m.

Alaska-focussed mineral explorer Nova Minerals (ASX: NVA) will kick-off further resource drilling at the RPM deposit within its Estelle gold project after geophysics confirmed extensions to the gold anomaly.

According to Nova, the 1km anomaly correlates directly with the mineralised intrusive contact and is supported by drill hole data and surface observations.

Hole RPM-005 at the zone unearthed 400m at 3.5 grams per tonne gold from surface, including 132m at 10.1g/t gold from 89m, and 3m at 97.8g/t gold from 169m.

Nova chief executive officer Christopher Gerteisen said the geophysical results build confidence in RPM where mineralisation remains open in all directions.

“Over 20,000m of diamond drilling is planned in RPM’s northern area to extend strike up to 1km to the west of RPM-005 as confirmed by the magnetic anomaly.”

“Dense drill spacing around the existing resource area is aimed at proving up a significant portion of the RPM resource to higher confidence indicated status.”

“With support infrastructure in place, and several rigs now gearing up, our corporate goal is to expand the existing 1.5 million ounce gold inferred resource at RPM, and, in turn, build Estelle’s current 9.6Moz gold estimated total gold resource in 2022,” he added.

Estelle gold project

RPM is part of the wider Estelle gold project in Alaska’s Tintina province.

The project spans 324sq km and host 15 major prospects.

Last month, Nova revealed a 54.9% increase to the project’s global resource to 9.6Moz.

The resource comprises both the primary Korbel Main deposit and RPM.

Korbel Main’s resource hosts the majority of gold with 8.1Moz, while RPM is estimated to contain 1.5Moz gold.

“We have taken the Estelle project from discovery to a multi-deposit gold district in a short timeframe and on relatively limited funding and the exciting part is that we are only getting started,” Mr Gerteisen said.

Nova is carrying out prefeasibility work in parallel with drilling including metallurgical, geotechnical, mining, environmental, infrastructure and hydrogeological studies.

    Join Small Caps News

    Get notified of the latest news, interviews and stock alerts.