Nova (ASX:NVA) presents 5.17 million Alaskan ounces for US listing

Nova (ASX:NVA) presents 5.17 million Alaskan ounces for US listing

April 16, 2024 Off By Jack Baker

Nova Minerals has released an S-K 1300 resource estimate demonstrating a large increase to gold in-pit resources at its flagship Estelle Gold Project in Alaska to back up its proposed listing on a North American stock exchange.

The US Securities and Exchange Commission-required S-K 1300 resources code applies more constraints than JORC, but an increasing gold price and technical refinement have offered Nova a 76 per cent increase to gold in-pit resources compared to its Australian-style scoping study.

Nova will now present 5.17 million ounces of gold to the SEC, and while the company’s JORC-compliant resources will for now remain at 9.9Moz, neither figure includes drilling completed after March of 2023.

Nova Chief Executive Christopher Gerteisen said completing the US-required technical report marked a major milestone for the company in support of a stateside listing.

“All credit to our experienced Nova team and consultants who spent endless hours to get the job done,” Gerteisen said.

“The increase in the pit-constrained resource highlights the extreme sensitivity to a rising gold price and improved technical parameters.

“The present gold bull market and further efficiencies that are being investigated through our current (pre-feasibility) studies continues to provide additional potential upside for the Estelle Gold Project.”

Nova began a maiden campaign at the Train prospect shortly after releasing the 9.9Moz JORC resource with a view further growing the estimate.

Drill results from the project’s RPM area has returned multiple large intervals of near surface gold as strong as 120 metres at 5 grams per tonne gold, while sampling at the Stoney, Tomahawk, Trundle, and Revelation prospects has continued to highlight prospectivity.

There are more than 20 known prospects across the project’s 35-kilometre-long mineralised corridor but, for now, the focus for Nova will be on an imminent US listing on a market such as NASDAQ – and improving confidence in what could prove a tier-1 gold asset.

The Victoria and Alaska-based company this month closed a round of bridge funding early, believing access to about $8.5 million was enough in the kitty to complete its US listing and fund 2024 calendar year field programs.

A somewhat restrained phase 2 scoping study showed a project paying back in under a year with a net present value of close to a billion dollars.

The explorer is embarking on a continued quest to add more ounces and turn developer with the heavyweight backing of US capital funders.

Please note the following valuable information before using this website. 

Independent Research 

Market Open Australia is intended to be used only for educational and informative purposes, and any information on this website should not be taken as investment advice or guidance. It is important to conduct your own research before making any investment decisions, which should be based on your own investment needs and personal circumstances. Any investment decisions based on information contained on this website should be taken in line with independent financial advice from a qualified professional or should be independently researched and verified. 

MO and CI logo redraw Socials Profile reversed

MarketOpen is an online media business connecting companies and investors. Through its flagship MarketOpen.com.au media channel the Australian publisher’s experienced journalists cover breaking news and analysis on mining, oil and gas, technology and biotechnology companies listed on the Australian Securities Exchange and other markets. MarketOpen’s video and podcasting channels feature original interviews with Australia’s small-cap corporate leaders, while its Stock Soirée networking events, Watchlist webinars, and online events connect investors and brokers with CEOs and board members. The publisher also offers a suite of agency services to its corporate members, including media, video, podcasting and social media services, along with writing, editing, reviewing and content creation services.

Contact info

Suite 3, 47 Havelock Street
West Perth WA 6005
info@marketopen.com.au

Stewart Walters
Managing Director
stewart@marketopen.com.au
+61 414 644 166

Amanda Ellis
Editor-in-Chief
amanda@marketopen.com.au
+61 438 003 868

Important links

Follow us