Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) is enthused about visible gold it has discovered at the high-grade RPM Deposit, within its flagship Estelle Gold Project.
The project can be found in the prolific Tintina Gold Belt in Alaska, renowned for its rich gold deposits.
Notable gold
During ongoing drilling at the RPM Deposit, a notable occurrence of visible gold of less than 1% was observed in a quartz vein hosted within hornfels rock in drill hole RPM-043, at a depth of 68 metres.
The drill hole is specifically targeting the potential eastern extension of the RPM North bonanza zone, with further drilling planned up to a total depth of 325 metres. At present, the hole has reached a depth of 120 metres and additional core samples will be extracted and processed on-site. These samples will be sent to the ALS analytical laboratory for assaying, with results expected in September.
This recent discovery of visible gold is highly encouraging for Nova Minerals, as it signifies the presence of potentially valuable gold mineralisation in the region. The company aims to continue its drilling activities to expand and confirm the high-grade resource at the RPM Deposit.
Additionally, Nova Minerals plans to commence drilling at the Train prospect, with the objective of confirming RPM-style high-grade mineralisation and establishing another resource deposit at the Estelle Gold Project.
US stock market reach
Furthermore, Nova Minerals is progressing with the trading of its shares on a major US exchange, a significant development that could expand the company's market reach and attract more investors.
Nova CEO Christopher Gerteisen said: “Coarse visible gold has been observed again at RPM, this time in drill hole RPM-043.
“This is the most impressive specimen of visible gold seen thus far at RPM, and it’s very encouraging, as this drill hole is targeting the extension of the mineralisation along strike to the east of the high-grade RPM North bonanza zone.
“While assays are pending, and drilling continues, we are attaining a better understanding of the complex controls on mineralisation at these very high-grade RPM-type mineralised systems which exist across Estelle, to further unlock the significant gold endowment within the project area.
“With improved targeting of these high-grade zones ongoing, we are confident the RPM deposit will continue to yield positive results from the 2023 resource drilling program currently underway.”
The company also eagerly awaits the preliminary economic assessment (PEA) of the 37%-owned Snow Lake Resources US SK-1300 project, which is expected to be reported this month. Positive results from this assessment could further enhance Nova Minerals' growth prospects.
The discovery of visible gold at the RPM Deposit has generated substantial interest among investors and industry observers, as it could potentially lead to a significant increase in the company's resource base and overall value.
Read more on Proactive Investors AU
