Nova Minerals reports new extension to gold zone at Korbel Main target

Nova Minerals new extension gold zone Korbel Main target NVA ASX
Nova Minerals expects regular news flow in the coming weeks as more assay results are revealed.

New drilling results at Nova Minerals’ (ASX: NVA) flagship Estelle gold project in Alaska’s prolific Tintina gold belt have confirmed a further extension to the gold zone at the Korbel Main prospect.

The company said a series of near-surface, broad intersections had “significantly extended” the gold footprint in the southeast and northwest to over 1,600m in strike.

Additionally, results show a strong correlation between gold mineralisation and induced polarisation chargeability anomalies.

Best intercepts were 527m at 0.3 grams per tonne gold, including 107m at 0.5g/t, 55m at 0.5g/t, 9m at 1.4g/t, 12m at 1g/t, 9m at 1.5g/t, and 3m at 3.1g/t.

Also recorded was 253m at 0.3g/t gold, including 113m at 0.5g/t, 46m at 0.6g/t, and 18m at 0.7g/t.

The initial 16 holes of the drilling program support an established 3.3 million ounce gold resource at Korbel Blocks A and B.

Exploration strategy

Nova’s exploration strategy at Estelle includes targeting an updated mineral resource estimate for mid-2021, supported by a total 92 holes completed to date at Korbel Main.

Chief executive officer Christopher Gerteisen said the company was yet to define the extent of the deposit’s footprint.

“One of our most recent holes [at Korbel Main] has significantly expanded the resource footprint to the northwest, indicating the potential for Block D and Isabella [prospects] to converge into Korbel Main as drilling progresses,” he said.

“Another hole has confirmed that the southeast [area] is an extension of the Korbel Main deposit and should add significantly to its resource inventory.”

With a large volume of samples awaiting assay results, Mr Gerteisen expects frequent news flow over the coming weeks as the company continues to unlock Korbel Main and the greater Estelle gold district.

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