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Nova Minerals expands Estelle Gold Project area in Alaska by 86%

The company has already established a 2.5 million ounces maiden inferred gold resource on a very small area of the project.

Nova Minerals Ltd - Nova Minerals expands Estelle Gold Project area in Alaska by 86%
New tenements contain highly prospective geology

Nova Minerals Ltd (ASX:NVA) recently increased its land position at the Estelle Gold Project in Tintina Gold Belt, Alaska by 86%.

This brings Nova’s total landholding in the region to 220 square kilometres of high-quality prospective gold ground.

This major increase in landholding remains relatively unexplored with the majority of previous exploration within the Estelle Project area being focused at the Oxide Korbel, RPM and the Shoeshine prospects.

The Tintina Gold Belt

The highly prospective mineralised controlling structures and rock types, known to host the numerous other prospects and gold occurrences throughout the project, show strong continuity into the newly acquired areas.

This scenario adds significantly to the number of high-priority targets Nova plans to focus on in its upcoming work programs.

Nova managing director Avi Kimelman said: “The company’s maiden 2.5Moz inferred gold resource, confirmed at Blocks A and B which remains open at length and depth within the Oxide Korbel prospect last month, represents less than 1% of the project area.

“Blocks C and D at Oxide Korbel host larger and stronger chargeability anomalies, and will be subject of targeted drilling together with Blocks A and B in our next phase of fieldwork – and have the potential to significantly expand the project’s resource, In addition, the expansion of the Estelle project area reinforces Nova’s commitment to expand our resource ounces and fast track development across the project area.

“This will allow us to enact much broader exploration and a discovery vision via the exploration of what we believe to be a regionally significant land package in the world-class Tintina Gold Belt.

“We plan to fast tracking drilling with results and resource upgrades to shadow our critical path to meet these objectives across a number of prospects.

“The 107Moz Au Pebble Project to the south and the 45Moz Au Donlin Creek Project to the west, provide just two examples of the large-scale gold endowment in the region, and highlights the potential upside for Nova at the Estelle Project.”

Quick facts: Nova Minerals Ltd

Price: 0.049 AUD

ASX:NVA
Market: ASX
Market Cap: $50.94 m
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