Our Vision – To Develop Estelle, North America’s Next Major Gold Trend in Alaska to Become a Tier One Global Gold Producer
The Estelle Gold Project comprises of 513km2 of unpatented mining claims located on State of Alaska public lands on the Estelle Gold Trend within the world-class Tintina Gold Belt, which is host to more than 220Moz Au in predominantly bulk tonnage, high-margin gold deposits. The project, which is being progressively drill tested, and already hosts numerous multi-million-ounce, near-surface, intrusion-related, resource-stage gold deposits, with plenty of long term opportunity and the potential to build multiple resource centers and processing plants across the single site, exhibits many early similarities, particularly in terms of scale and potential gold endowment, to the legendary Carlin Gold Trend in Nevada, which was company-making for Barrick Gold and Newmont, two of the world’s largest gold-mining companies.
Our Location – Mining Friendly Alaska
Tier 1 Mining Region with Infrastructure Solutions in Place
The Estelle Gold Project, located approximately 150 km (93 miles) northwest of the major US city of Anchorage, is a year-round operation, near a large labour force and all essential services. The base site hosts a fully winterized 80-person camp, including an on-site sample processing facility and the 4,000-foot Whiskey Bravo airstrip, which can facilitate large capacity DC3 type aircraft.
Various power options are being considered for the project as part of the PFS trade-off studies currently underway, including an offtake from the proposed Donlin gas pipeline which runs 10-15 miles north of the site and the potential for power transmission lines to feed into the State electricity grid.
West Susitna Access Road Progresses to Permitting
While easy access is currently available to the project via a winter road and by air, recently the proposed West Susitna Access Road, which is all situated on State land within the Matanuska-Susitna Borough and which has considerable support from both the community and the State government (see news article here), has progressed to the permitting stage. The EIS process is currently underway. Construction of the road is proposed to start in 2025.
Alaska Governor, Mike Dunleavy: “The West Susitna Road is important for local residents and gaining fair access to hunting, fishing, and potential jobs. My administration is constantly looking at ways to grow our economy and this project is a great opportunity for not only south-central Alaska but the entire state. I am committed to this project and unlocking resources that benefit all Alaskans.“
To view the full press release from The Alaska Industrial Development and Export Authority (AIDEA) click here
Our Value Drivers
Nova is accelerating its activity across the Estelle Gold Project towards production, anticipating mine construction circa 2026 and the first gold pour in 2027.
- Phase 1 Scoping Study – Completed
Study shows that Korbel Main is an economically viable standalone operation, even though it is constrained to only Indicated Resources, and the study includes the majority of CAPEX required for an Estelle wide operation in the future.
- Phase 2 Scoping Study – Completed
Study included the higher grade RPM Deposit mineral resource as well, which significantly improved the overall project’s economics, with a minimal extra CAPEX requirement.
- Pre-Feasibility Study – 2024
The PFS will include additional resources from the wider Korbel and RPM resources, which is anticipated will improve the project economics even further and include environmental studies and provide a greater level of accuracy than the scoping studies.
- Definitive Feasibility Study – 2025
The DFS will include any additional resources and this study will provide an even higher level of accuracy and confidence in the Project, suitable for seeking funding finance.
- Mine Construction – 2026/2027
Subject to obtaining all necessary approvals and regulatory requirements.
- 1st Gold Pour – Late 2027
- Further exploration and drilling to increase the life of mine across the entire Estelle Gold Project.
As each study level continues, the Company will also concurrently undertake additional drilling and exploration activities to add further resources and discoveries to the Estelle Gold Project and provide updated mineral resource estimates.
Our Diversified Portfolio in Other Minerals
Snow Lake Resources
Nova has established a diversified portfolio in other minerals to hedge against fluctuations in the gold price and to expose Nova to the upside of these other high-value minerals:
- An significant indirect interest in the Canadian Thompson Brothers Lithium Project through a 37% stake in Snow Lake Resources Ltd (NASDAQ: LITM), an aspiring lithium developer in Manitoba. For more information, see snowlakelithium.com
- An 8.76% interest in Asra Minerals (ASX: ASR), a gold and rare earth exploration company based in Western Australia. For more information, see asraminerals.com.au