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Estelle Gold Project – Overview Tab Template

District Scale - World Class Asset

Nova’s flagship Estelle Gold Project contains multiple resource centers across a 35km long mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources across 4 deposits containing a combined JORC compliant 9.9 Moz Au. Recently antimony and other critical minerals were also discovered coincident with the gold in surface sampling on numerous prospects across the project.

The project is situated on the Estelle Gold Trend in Alaska’s prolific Tintina Gold Belt, and is a year round operation accessible via air and a winter road, with base camp facilities including, a 4,000 foot airstrip, on-site sample processing facility and a 80 person fully winterized camp, which accommodates our geological, technical, and drilling contractors.

The proposed West Susitna Access Road (WSAR), an all weather road which will link the project to port, rail and road, which is situated on State land within the Matanuska-Susitna Borough and has considerable support from both the community and the State government, has now progressed to the permitting stage, and is currently going through the EIS process, with construction proposed to start in 2025.

To learn more about the Estelle Gold Project, please see the interactive map page.

Growth Strategy

Nova’s immediate growth strategy is to increase gold resources, extend deposits, investigate the antimony and critical minerals discoveries further, and make new large discoveries, while at the same time advancing conceptual mine plans, environmental and trade-off studies, valuable bi-product extraction options, and permitting, to get Estelle into production as fast as possible.

Nova employs a three-tiered exploration strategy at the Estelle Gold Project:

RPM

Establishing a Tier 1 resource at RPM by extending its mineralized footprint and further exploring nearby prospects, including drill testing the Train area, to increase the mineral resource and throughput to the plant.

Korbel

Establishing a Tier 1 resource at Korbel Main and its nearby prospects within the Korbel Valley by proving significant extensions to the mineralization footprint along strike and at depth.

Other Prospects

Utilising conventional geology exploration techniques on the other over 20 identified highly prospective targets with a view to making new large discoveries across the Estelle Gold Project in what we know is a world class mineralized trend.

Other Prospects

LEARN MORE

For the latest information on exploration and drilling results at the Estelle Gold Project, please view our ASX Announcements, Company Presentations and Videos.

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 the potential for power transmission lines to feed into the State electricity grid, an offtake from the proposed Donlin gas pipeline which runs 10-15 miles north of the site, and diesel generators on site.

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

To learn more about the Estelle Gold Project, please hover over the hotspots marked on the map below.

Image of the 513 square km Estelle Gold Project with hotspots for all the prospects

The Estelle Gold Project currently comprises of 4 mineral resource deposits across 2 main areas

Korbel – 2 large bulk tonnage resources

  • Korbel Main, a bulk tonnage deposit, located in the North of the project area, which has a confirmed strike length of over 2.5km and up to 500m depth, and remains open with significant potential to further extend the mineralization.
  • Cathedral is another bulk tonnage deposit nearby and similar to Korbel Main. An initial maiden Inferred resource has confirmed a strike length of at least 800m and 350m wide. The deposit remains wide open in all directions. The potential for high-grade zones exist with up to 114 g/t Au in surface rock chip samples.

RPM – Geological indications show the 3 areas at RPM are potentially genetically linked

  • RPM North is a high-grade deposit, located in the South of the project area, which has a 450m strike length and 150m width, defined by close spaced resource drilling, and remains open. It also includes a high-grade M&I core of 100m long x 50m wide x 300m deep. Significant potential remains to further extend the mineralization.
  • RPM South is a newly discovered zone. Initial drilling as confirmed a genetically link to RPM North. Currently resources have a strike length of 400m and 250m width. Over 600m of perspective strike length connects RPM South with RPM North.
  • RPM Valley is another newly discovered mineralized zone in the valley down from RPM North which was drilled in 2023.

Recently the Company has also discovered antimony and other critical minerals coincident with the gold in surface sampling on numerous prospects across the project.

Drilling

Drilling in 2024 plans to focus on growing and proving up the measured and indicated resource to ore reserves for the PFS at RPM, and to follow up on the new gold and critical minerals discoveries at Stibium, Train, Trumpet, Shoeshine and Muddy Creek.

84,000m of diamond and RC drilling has been undertaken to test the extent of all deposits and infill, in support of a high confidence JORC compliant Mineral Resource Estimate of 9.9 Moz Au across the Estelle Gold Project, as released to the market on 11 April 2023. This Mineral Resource contains a proportion of Measured and Indicated classified material to support future studies and an Ore Reserve. 6,600m of drilling in late 2023, and future targeted drilling programs, are planned to upgrade both the size and confidence of the resource estimate.

Estelle Gold Project – JORC Compliant Global Mineral Resource Estimate, April 2023

Image of the Estelle Gold Project – JORC Compliant Global Mineral Resource Estimate, April 2023

For the latest information on exploration and drilling results at the Estelle Gold Project, please view our ASX Announcements, Company Presentations and Videos.