Nova Minerals (ASX:NVA) uncover a major Estelle anomaly
December 5, 2023Nova Minerals has made a major discovery of a gold anomaly stretching beyond one and a half kilometres and holding grades up to 127g/t as it continues racking up kilometres primed for drilling while advancing its Estelle Gold Project to production in Alaska.
Already holding 9.9 million ounces of gold across four deposits, Nova plan to begin construction in 2025, and with over 20 identified gold prospects lying across a 35-kilometre-long mineralised corridor, see massive growth upside remaining.
And these results will do little to dissuade them, with 18 of the consistently very high-grade rock samples coming over 10g/t and 80 per cent of soil samples returning over a gram.
Nova Head of Exploration Hans Hoffman said the company was following up an impressive gold-in-soil anomaly identified last year, which has now revealed one of the most continuous high-grade anomalies on the entire claim block.
“In typical Estelle fashion, gold mineralisation is coincident with sheeted, northwest-trending, quartz arsenopyrite veins. This prospect warrants subsurface exploration to test the extent of the mineralisation,” Mr Hoffman said.
In addition, geologists visited the new Discovery prospect, which also returned some impressive results. While on an ‘Estelle’ scale <1g/t Au samples may be overlooked, one needs to be reminded that >0.5g/t Au is well above typical cut-off grades for intrusion related gold systems, and Discovery adds another 800m to the 1.5km anomaly identified at Muddy Creek.”
Nova CEO Christopher Gerteisen added that the Train area continues to light up, this time at two prospects which lie just east of Train and Trumpet and north of the Shoeshine and Shadow prospects.
“These prospects combined represent an approximately 4.5km long and 2.5km wide anomaly and the potential for continuity between them certainly exists in what appears to be another massive intrusive related gold system,” Mr Gerteisen said.
“In addition to high-grade gold, which we have once again encountered at Muddy Creek, there is also widespread multi-element potential with anomalous antimony, copper, and silver throughout.
“These results further confirm the Train area, and Muddy Creek prospect in particular, as one of our highest ranked drill targets to potentially establish a 3rd resource deposit as we continue to advance the Estelle project on our path towards production.”
Significant results
- Muddy Creek:
▪ 127.5 g.t Au
▪ 90.5 g/t Au
▪ 76.8 g/t Au
▪ 75.5 g/t Au
▪ 65.6 g/t Au
▪ 51.8 g/t Au
▪ 46.2 g/t Au
▪ 43.6 g/t Au
▪ 42.1 g/t Au
▪ 38.2 g/t Au
▪ 27.3 g/t Au - Discovery:
▪ 43.6 g/t Au, 1.2% Cu
▪ 18.6 g/t Au, 0.4% Cu
▪ 11.9 g/t Au, 1.1% Cu
▪ 9.9 g/t Au, 0.5% Cu
▪ 3.3 g/t Au, 3.8% Cu
property map showing the extensive exploration program undertaken in 2023
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