Nova eyes RPM as next Estelle gold target
North of 60 Mining News – September 13, 2019
Share
Tweet
Last updated 9/26/2020 at 5:41am
Nova Minerals Ltd.
Estelle Field Manager Brian Youngs at RPM, a priority target for Nova Minerals during the 2020 Alaska exploration season.
Nova Minerals Ltd. Sept. 17 announced that re-assaying of core from previous drilling has confirmed another potential gold deposit on its Estelle property in Alaska.
Last week, the Australia-based explorer announced a maiden inferred resource of 181.3 million metric tons averaging 0.43 g/t (2.5 million oz) gold for the Oxide Korbel deposit at the north end of Estelle.
Now, the company reports promising results from RPM, a target at the southern end of the roughly 18-mile-long property.
These results are from the re-sampling of core from SE12-008, a hole drilled at RPM in 2012 under a partnership between Millrock Resources Inc. and Teck Resources Ltd.
The assays from this sampling show that SE12-008 cut 177.4 meters averaging 0.79 grams per metric ton gold from a depth of 4.3 meters. This includes 50.2 meters of 1.75 g/t gold from a depth of 75.2 meters.
"After announcing our maiden 2.5 million oz gold JORC (Australian Joint Ore Reserves Committee) inferred resource as a starting point at Oxide Korbel just a week ago we are excited by these results from the RPM prospect which clearly demonstrate the scale, size and robustness of our project's exploration upside," said Nova Minerals Managing Director Avi Kimelman.
Nova Minerals said it plans to carry out an aggressive program of prospecting, mapping, geophysical surveys and follow-up drilling at RPM during the 2020 field season.
If the exploration drilling confirms the SE12-008 results, the company plans to quickly transition the program to resource delineation drilling.
"These continued positive results provide strong encouragement to Nova and is a testament to the exploration teams ability to effectively and efficiently evaluate the tenement area in such a short period," said Kimelman. "Our simple, yet highly effective, prioritized systematic exploration approach is designed to delineate gold resources while minimizing costs and we will maintain this strategy throughout our exploration efforts."
In addition to Oxide Korbel and RPM, the company has identified at least 10 gold occurrences at Estelle.
"We are now looking at the possibility of delineating multiple deposits on the Estelle property," Kimelman added.
–SHANE LASLEY
Reader Comments(0)