Nova Minerals moves forward with planning and optimisation studies at Korbel gold project
Nova’s upcoming scoping study for the Korbel Main deposit is due for imminent release.
Nova Minerals (ASX: NVA) has completed a starter pit mine plan and pit optimisation program at its flagship Korbel gold project in Alaska ahead of scoping studies due for imminent release.
Korbel is located at the northern end of the company’s Estelle gold trend development, which is a 35 kilometre-long corridor of 21 identified gold prospects bracketed by the RPM project to the south.
The project represents less than 10% of the trend’s 450 square kilometre footprint and is made up of eight major prospects including the Korbel Main deposit which remains wide open.
The trend lies within Alaska’s prolific Tintina gold belt province, which hosts a 220 million ounce documented gold endowment and some of the world’s largest discoveries including Victoria Gold’s Eagle mine and Kinross Gold Corporation’s Fort Knox mine.
Korbel and RPM have a combined total estimated gold resource of 9.6 million ounces, comprising 3.0Moz indicated and 6.6Moz inferred.
Korbel Main studies
Nova chief executive officer Christopher Gerteisen said the upcoming scoping studies would be contained to the Korbel Main prospect and would not include major targets in close proximity such as Cathedral, Isabella, Blocks C&D, Portage, You Beauty and NK.
“Ongoing resource development drilling programs and pre-feasibility study level test work at Estelle – which includes the deposit at RPM and additional prospects in-between – offer massive future potential upside,” he said.
“Our vision is to develop North America’s next major gold trend with a focus on low-strip open pit developments that are large, low cost and serviced by common infrastructure.”
He said the company is well-funded in cash and equivalents to further the drilling and studies.
Pre-feasibility work
Late last year, Nova embarked on a round of pre-feasibility test work programs which include ore-sorting, metallurgical, environmental, engineering and power options for Korbel and RPM.
The work is due for completion in 2023, after which the company will move onto a definitive feasibility study.
In February, it commenced a conceptual material haulage study to evaluate the viability of a long-range slurry pipe as the primary means of transportation for high-grade material from RPM to the main processing plant to be constructed at Korbel.