A fast developing Gold Project in the Tintina Gold Belt.
Perfectly located 100 miles from a major US city
Mineral Resource of 6.2Moz Au and growing rapidly on less than 3% of the project area from two of 15 known prospects across the Estelle Gold district
Multiple Large scale, high value, near surface intrusion hosted gold mineralised systems identified
Aspirational goal to become gold producer with a risk-reduced strategy to rapidly grow resource ownership per share in a tier 1 mining jurisdiction
Additional high growth, high value investments and innovations
PROJECT LOCATION AND INFRASTRUCTURE
The Estelle Gold project sits approximately 110 miles (177km) northwest of Anchorage, Alaska’s major city, which provides a large labour force and all essential services. Access is via snow road or by air, with the nearby Whiskey Bravo airstrip being compliant for DC3 aircraft.
Estelle is a near-surface Intrusion Related Gold System (IRGS) deposit. The Tintina Gold Belt contains a number of IRGS deposits with Bulk tonnage multi-million ounces gold mineral resources:
- Fort Knox (5.6 Moz @ 0.3 g/t Au resource) operated by Kinross (K.TSX) 8.0 Moz produced 1997-2019
- Eagle (5.3 Moz @ 0.6 g/t Au) operated by Victoria Gold Corporation (VGCX.TSX)
- Other types of deposits include very large porphyry copper – gold – silver deposits such as Casino (17.8 Moz @ 0.2 g/t Au and Whistler (6.4 Moz @ 0.5 g/t Au).
CURRENT DRILL PROGRAM AND RESOURCE GROWTH TIMELINE
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. Each Milestone is defined by a specific deliverable and each criterion 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. This methodology ensures work is carried out across all stages of the process, and cost is minimal. Our focus is kept on the best quality targets, and the pipeline is filled with early milestone projects.
- Outstanding geological pedigree
- Thriving mining industry poised to grow
- Deposits of global significance known; more to discover
- An abundance of undeveloped, underexplored mineral occurrences and deposits:
- Gold: 2.5% of world’s gold reserves;
- 40% of U.S. gold resources >220 Mozs.
- Over 47 million ounces of gold produced
- Minimal modern exploration
- Secure land tenure, state-land
- Native title resolved
- Stable geopolitical climate
- Government supportive of responsible mineral development
- Stringent but practical environmental regulation
- Accessible drilling all year round
Exploration continues to result in major increases to the size and scale of the Estelle Gold Camp with ~ 6.2Moz (JORC 2012*) of gold resources (ASX Announcement 27 October 2021) defined on less than 3% on the project area.
- The Estelle Gold Project comprises 346 State mining claims totalling 324 km2 of unpatented mining claims located on State of Alaska public lands. There are multiple prospects within the project area; Korbel Main (Block A, B, C, D, Isabella, Cathedral, You Beauty, Sweet Jenny), Stoney, Tomahawk, Kid, T5, Trundle, Mount Estelle, Shoeshine and Train, Emerald, RPM and Revelation.
- The Estelle Gold project is located in a world-class district within the premier Tintina Gold Belt (Alaska) that hosts more than 220 Moz in mostly bulk tonnage, high margin deposits.
MINERAL RESOURCE AND GROWTH
Nova’s exploration success in just 3 years has catapulted the Estelle Gold project onto the exclusive list of mineral deposits with resources exceeding 6 Million Ounces of gold situated within the Tintina Gold Belt. Nova Minerals is now aggressively drilling for resource expansion to significantly increase the resource in size and confidence.
The mineral resource at Korbel Main is just the start. At 0.15 g/t Au cut-off, it amounts to 518 Mt @ 0.3 g/t for 4.7 million ounces. The Korbel Main mineral resource can grow significantly by drilling adjacent blocks with identical geophysical signature, likely offset by faulting. The growth of the mineral resource at Korbel Main is seen as a function of drilling metres. The Company continues to conduct infill and extensional drilling at Korbel Main, and a resource upgrade, increasing the size and confidence of the resource, is expected in Q4 of 2021.
Korbel Main is only one of 15 identified prospects in the Estelle property. The Maiden Resource for the RPM prospect of 23.1 Mt @ 2.0g/t Au for 1.5Moz, brings the overall Global Resource at Estelle to 6.2Moz (Inferred).
NEAR TERM UPSIDE- A PIPELINE OF PROSPECTS
• Extensive Diamond drilling in 2020 and in 2021 to focus on expanding and increasing confidence in the resource at Korbel Main (Blocks A and B) and Blocks C and D
• Additional drill testing at Cathedral in the Korbel deposit area
• Initial drill testing of other high priority targets on the property including the RPM and Shoeshine prospects
• Global Resource Estimate on Korbel Main (Blocks A and B) in the short term
• Phase 2 metallurgical studies and comprehensive ore sorting study
• Property scale compilation of historical exploration data, mapping, drilling and recent Hi-resolution airborne electromagnetic, magnetics, and radiometric data
• Focus on decision to mine by 2023/24