Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF)’s 2022 exploration mapping and sampling campaign has confirmed the discovery of new zones of high-grade gold mineralisation at a new gold system named Trumpet, 1.5 kilometres northwest of Train within the Estelle Gold Project in Alaska.
The company says high-grade rock samples have confirmed further broad surface gold zones across the Estelle Project outside the current 9.6-million-ounce mineral resource.
Extensive 2022 drilling added
Resource updates for RPM and the Korbel Valley are now underway with 30,000 metres of additional drilling to be added for the phase two scoping study.
Recent high-grade gold surface samples returned from the 2022 exploration program at the newly discovered Trumpet prospect include grades such as 32.8 g/t, 16.6 g/t, 16.0 g/t, 13.6 g/t and 12.7 g/t.
Recent high-grade gold surface samples from the 2022 exploration program at Train prospect include 80.2 g/t, 17.9 g/t, 17.7 g/t, 16.6 g/t and 10.4 g/t.
Geological observations indicate the new discovery at Trumpet, coupled with the previously identified prospects in the Train area, which all contain high-grade rock samples, point to another very large intrusive-related gold system at the Estelle Gold Project.
Intrusive/hornfels high-grade contact style mineralisation similar to RPM was observed across the Trumpet and Train prospect areas, making it a high-priority RPM-style target for drilling in 2023.
Additional high-grade rock samples, boasting 30.4 g/t and 21.6 g/t, collected in the area between Train and Trumpet are in line with NW-SE regional structural controls indicating the potential of another very large mineralised intrusive system with over 1.5 kilometres of continuity between the two prospects.
Further work is planned for 2023 to confirm this connection.
"Exploration upside"
Nova CEO Christopher Gerteisen said: “These results continue to prove the exceptional exploration upside that remains across the Estelle Gold Project.
“The surface sampling program in 2022, as part of our reconnaissance exploration efforts, has once again delivered more high-grade results in what appears to be another massive intrusive-related gold system typical within the Estelle Gold Trend, as we have already realised at RPM and Korbel.
“We look forward to further exploring and drill testing the area in 2023, with the aim to producing a third gold resource in the near future, which provides a stronger case for another processing plant, located in the RPM Mining Complex.
“With more than 20 already known prospects, exploration work conducted to date has shown there is the potential for many additional discoveries across the Estelle Gold Project and as the field teams continue to systematically advance their focused reconnaissance exploration programs, planned in 2023 and beyond, we are confident of making further discoveries like the recent success at the Trumpet Prospect."
Next steps
Nova plans to drill test in 2023 with the aim of defining a third gold deposit and completing a maiden resource to further increase the total global resource inventory across the project.
The 30,000 metres of additional step-out and infill drilling the company conducted in 2022 will be included in the updated resource estimates now underway as part of the upcoming scoping study.
Drill planning for 2023 is also now underway to primarily focus on further high-grade resource definition at RPM, as well as define a third resource deposit at Train.
Simple, old-school methods
“It’s important to note that Estelle is virgin ground and mostly outcropping throughout the project area," Gerteisen added.
“Making new discoveries does not require expensive, complex, deep-searching exploration techniques. Our methods are simple, old-school, boots on the ground, geologists observing mineralization on the surface at their feet and kicking up new gold showings literally every day while out there.
“This has allowed us to keep our cost per discovery ounce at less than $4/ounce. By this metric, Nova is a clear industry leader and will continue to be moving forward.
“In time, we expect to define further multiple new shallow gold, silver and copper resources that will support our goal of steadily growing the global resource inventory.
"With long-term opportunity and the prospect of multiple mining complexes and processing plants across the single project, we continue on our path to becoming a world-class, global gold producer.”
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