- Installation of all camp facilities at the Estelle Gold Copper Project completed
- 8,000m drilling program to commence immediately
- First assays to be delivered to ALS laboratories in Fairbanks within three weeks
The 114km2 landholding sits adjacent to the 6.3Moz Au, 28.7Moz Ag, 480kt Cu Whistler project (Gold Mining Inc.) and on the same assemblage of rocks that hosts the pebble partnerships giant Pebble copper-gold-molybdenum-silver deposit (105Moz Au, 81b lb Cu, 5.64b lb Mo, 515Moz Ag).
Nova is anticipating drilling at least 8,000 metres over a 6 to 8 week exploration program where the Company has already established 1.1Moz Au to 2.3Moz Au exploration target on less than 1% of the Estelle gold camp (refer to ASX announcement 26 February 2018).
The drilling program is designed to test along strike north and south of the historic discovery hole SE12-001, which cut 387metres at 0.40g/t, most of the mineralisation was found from 31.79m to 397.06m and returned 0.43 g/t Au over 365.27m (refer to ASX announcement 27 April 2018).
Hole SE12-04, drilled to the southeast of the discovery hole in 2012, cut 41.5 meters averaging 1.1 g/t gold (refer to ASX announcement 27 April 2018), indicating the drilling was vectoring towards higher gold grades as it approached a strong geophysical anomaly further southeast which will be immediately tested as the potential centre of the intrusion-related gold mineralised system (see Figure 1 in link below).
The initial 8,000 metre first pass RC drill program planned at the Oxide prospect will focus on the strong geophysical anomaly vectoring off drill hole SE12-04. The program is also designed to convert the exploration target into the company's maiden JORC compliant resource at the Oxide prospect with the view of expanding this zone (see Figure 1 in link below). Nova is planning further drill programs with more than 15 targets of interest prospective for major discovery. The project has an established ice road paralleling the Iditarod trail and Skwentna River built by previous operators that can be used to transport equipment to the site for year round drill programs and project development activities.
Nova will adhere to strict Quality Assurance - Quality Control (QA/QC) standards with blanks and/or standards to be utilised; and will collect and submit representative samples at one metre intervals to ALS laboratory in Vancouver, Canada; after being prepared at the preparatory laboratory in Fairbanks, Alaska. Gold will be analysed by Fire Assay and AAS using a 50 gram nominal sample weight (ALS method code Au-AA26). Other elements (33 in total including copper, silver and molybdenum) will be analysed by a four-acid digest and an ICP-MS finish (ALS method code ME-ICP61).
NVA Managing Director, Mr. Avi Kimelman said:
"It's great to be finally through the planning phase and into our maiden drill program. A great deal of work has gone into being well prepared and ensuring we deliver the most cost effective and efficient exploration campaign over the next few weeks at Estelle. It has been an outstanding effort by the site crew on putting this program and logistics together."
"With previous work on the Estelle project establishing great targets, Nova Minerals is fortunate to have a 5 year head start on the project and we believe the project shares many similarities both in size and scale to the Pebble and the Donlin Creek discoveries."
"We look forward to seeing what the initial holes within the strong geophysical anomaly uncovers and keeping our shareholders updated throughout the program. Our maiden JORC remains on schedule for end-2018."
To view figures, please visit:
About Nova Minerals Ltd
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is an ASX-listed minerals explorer focused on lithium, gold and mineral exploration in Canada, Alaska and Australia.
The company plans to create shareholder value through two-pronged strategy:
- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.
- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.
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Nova Minerals Ltd (ASX:NVA) New Spodumene Zone Identified as Part of the Sherritt Gordon Pegmatite Cluster