Contractor for Geophysical Surveys Engaged for Estelle GoldMelbourne, April 9, 2019 AEST (ABN Newswire) – The directors of Nova Minerals Limited (Nova or Company)
FRA:QM3) are pleased to announce the Company has engaged the services of well-regarded geophysical contractors RDF Consulting Ltd who is lead by Mr. Dean Fraser in our quest to unlock the District Scale Estelle Project.
Mr. Fraser is well qualified to provide his services as a Geologist and geophysicist for AK Operations LLC. Mr. Fraser possesses a Bachelor of Science degree in Geology and Geophysics from Memorial University of Newfoundland and has received his certification as a Professional Geologist with the Association of Professional Engineers and Geoscientists of Newfoundland as well as the Association of Professional Engineers and Geoscientists of Saskatchewan (dormant). He also possesses nearly 25 years of experience in all aspects of grassroots and advanced mineral exploration methods. He has worked in a large variety of geological environments exploring for gold, base metals, iron, tin/tungsten and uranium in North America and internationally. Mr. Fraser further has extensive experience in performing, processing, plotting, modeling and interpreting many different types of ground and airborne geophysical surveys including Induced Polarization/Resistivity, magnetics, electromagnetics, gravity and radiometrics, in the mining exploration sector and has been provided preliminary data on the Estelle Gold assets.
The geophysical surveys will comprise the implementation of a spectral induced polarization/resistivity survey over selected areas of the Property. A pole-dipole array will be employed using six dipoles and a 50-meter dipole spacing. These parameters will allow for a penetration depth of 150 meters in the subsurface. In-field interpretations of the data will be made with Nova Minerals Geologists on a daily basis.
Prioritised Systematic Exploration Strategy
The Company’s ranked and prioritised systematic exploration strategy and activities at Estelle are guided by an exploration “Project Pipeline” process to maximise the probability of multiple major discoveries (see Table 1 in link below). Each Milestone is defined by a specific deliverable and has each criteria needs to be ticked to determine which prospect must pass through before moving to the next Milestone. Economic criteria and probability of success increase as projects move along the pipeline. The methodology helps to ensure work is carried out across all stages of the process, cost are kept minimal and that focus is kept on the best quality targets and that the pipeline is kept full with early Milestone projects.
NVA Managing Director, Mr. Avi Kimelman said:
“We are please to have Dean join us with his vast knowledge on the current exploration program at Oxide North and South. We are extremely exciting with the enormous potential mineralisation that has been recognised on two of 15 targets but not effectively IP and drill tested, at depth and parallel to the known mineralisation where continuous mineralised structures may exist.”
“As previously announced we are fortunate to have historic data at hand and work completed last season which have allowed us to overlay data and vector into these potential world class large tonnage ore bodies. The Estelle project area has a multiple of alterations, structures and known targets on the large tenure, the focus is on discovering a RIRG system similar to that of the Fort Knox Gold and Dublin Gulch Eagles Gold Mine with our priority drilling established at Oxide North and possibly moving onto Oxide South which in itself is looks very promising in its own right. Our prioritisation and systematic exploration strategy for major discoveries ensures that the highest quality targets with the largest potential tonnage are advanced rapidly.”
“We are focussed on systematically unlocking a multiple of potential multi-million ounce gold discoveries across the project area.”
The board looks forward to announcing more updates on Nova’s lead up and 2019 drill campaign in the near future.
The 112km2 Estelle landholding sits adjacent to the Whistler project (+ 9.5 Moz AuEq) held by Gold Mining Inc. and in the same assemblage of rocks that hosts Northern Dynasty’s giant Pebble copper-gold-molybdenum-silver deposit (105 Moz Au). A direct correlation between gold grade and vein density is similarly reported at the Fort Knox (+ 4 Moz) and Dublin Gulch (+ 6 Moz) RIRGS deposits (Hart, 2007). Study results suggest that the 1) association of Au with Bi-Te, 2) association of Au with sheeted veins containing arsenopyrite, and 3) restriction of alteration to narrow selvages adjacent to veins at the Estelle Property are consistent with the genetic deposit model for RIRGS(see Note below).
Note: Source: Ore Characterization of the Estelle Property in the South-~Central Alaska Range, Ember Flagg, University of Nevada, Las Vegas
To view tables and figures, please visit:
About Nova Minerals Ltd
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.