The company is focused on exploration in Alaska’s prolific Tintina Gold Belt, a province which hosts a 220 million ounce (Moz) documented gold endowment and some of the world’s largest gold mines and discoveries including Victoria Gold’s Eagle Mine and Kinross Gold Corporation’s Fort Knox Gold Mine.
The company’s flagship Estelle Gold Trend has a current total estimated JORC gold resource of 9.6Moz (3Moz Indicated and 6.6Moz Inferred). Estelle is a 35km long corridor of 21 identified gold prospects bracketed by the Korbel Gold Project in the north and the RPM Gold Project in the south. These two projects are currently host to resource development programs.
Operating in Alaska we are incredibly conscious of the natural environment and are committed to minimising the impact of our activities through all areas of our business.
Christopher Gerteisen, CEO
Nova Minerals is an industry leader in the speed and manner in which it has been growing its global resource inventory, working with relatively small budgets. The company expects this resource growth trajectory to continue into the foreseeable future with deposits remaining wide open coupled with further potential across the Estelle Gold Trend.
Nova Minerals prides itself on innovation and efficiency as evidenced by its extremely low discovery cost of below $3.50 per ounce, which is well below the industry average. The company continues to look for ways to improve on this while exploring, developing and ultimately producing gold from the Estelle Gold Trend.
CEO, Mr. Christopher Gerteisen notes:
Our metric for evaluating our managerial performance is simply how rapidly we develop our assets, what strategic positions we have acquired at well below inherent value and what partnerships we have formed to advance our projects. From small beginnings, we have evolved into a company that has a large and growing gold endowment. We are unlocking a district in a top tier jurisdiction, taking strategic positions and forming relationships and partnerships with companies to assist us in our aggressive growth strategy, with Nova’s long-term sustainability and innovation in mind to benefit all stakeholders.
Ore sorting test work conducted on drill core samples from Korbel demonstrates great potential for less processing and increased mine production.
Bulk ore sorting is a pre-concentration technology in which large volumes of barren gangue are separated from a fully loaded conveyor belt based on the grade as measured or inferred from a sensor measurement.
With bulk ore sorting, ore that previously didn’t qualify for processing may be upgraded, making it economic to treat and improving the resource utilization. More valuable metal may be extracted from the resource while the processing plant treats a reduced volume at a higher feed grade.
During 2021, Nova established an onsite preparation facility at the year-round man camp. This facility, which has the capacity to process up to 10,000 samples per month, provides Nova with significant cost savings as the samples are prepared through drying, crushing and splitting on site, significantly reducing the sample weight that is shipped from site to the laboratory for analysis.
This also allows the company to bypass the commercial prep-lab which in turn vastly improves the assay result turnaround time.
The unprecedented potential benefits for Nova’s mining operations through the innovative application of clean aircraft technology, have been the primary motive behind the Company’s investment in aerospace company RotorX.
RotorX is in the process of developing the ground-breaking RX eTransporter, an electric vertical take-off and landing aircraft, designed for difficult terrain and heavy payloads of up to 1600lbs. The unique advancement is its potential ability to fly for more than 1.5 hours (or hover for more than 45 minutes) on a single charge, together with a maximum air speed of over 160mph which translates into a range of up to 200 miles. Its future application is the capability to support remote mining sites with the essential tasks of cargo delivery and transportation of personnel, which will improve both productivity and operational safety. The RX is intended to be produced both as a piloted aircraft and in a pilotless version. It will be a model of sustainability for Nova as part of its ESG development, while at the same time lowering estimated logistics costs by a third.
Artist impression of the RX eVTOL delivering supplies to the exploration site:
With the completion of the Phase 1 Scoping Study supporting Korbel Main as a stand-alone operation, Nova intends to continue its resource drilling program to increase the size and confidence of its resource base.
This year, Nova’s highest priority is to continue drilling the high-grade RPM North Deposit, with a current 23Mt @ 2.0 g/t for 1.5Moz Au Inferred Resource, in order to expand and prove the resource, which will then be included in the upcoming Phase 2 Scoping Study to be delivered later this year. This will allow Nova to merge the Korbel Main and RPM North Deposits into this study.
Further upside opportunities also remain as step out extensional drilling is performed over the wider Korbel and RPM Gold Project for inclusion in the Pre-Feasibility Study which is anticipated to be delivered later in 2023 and with the aim of Nova becoming a globally significant gold developer and producer soon after. This is all part of the vision of unlocking the Estelle Gold Trend.
Developing assets that offer the Company synergy as well as the opportunity to create significant returns on investment and create liquidity that will contribute towards Nova’s core Estelle Gold Project, returning cash to investors where appropriate.
To enhance our engagement with environmental, social and governance (ESG) issues as outlined in our Sustainability Report (pdf)