Estelle Gold Trend

The Estelle Gold Trend comprises 450km2 of unpatented mining claims located on State of Alaska public lands within the world-class Tintina Gold Belt.

A Fast-Developing Gold Project in the Tintina Gold Belt.Estelle Gold Trend

The Estelle Gold Trend comprises 450km2 of unpatented mining claims located on State of Alaska public lands within the world-class Tintina Gold Belt, which is host to more than 220Moz Au in predominantly bulk tonnage, high-margin gold deposits, including the Fort Knox mine operated by Kinross, the Eagle mine operated by Victoria Gold Corporation and the Donlin Creek joint venture between Barrick Gold and Nova Gold.

The Estelle Gold Trend is 150km (93 miles) northwest of Alaska’s largest city of Anchorage:
Year-round operation with man camp and on-site sample processing facility near large labour force and all essential services.

Access to the project is via a winter 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 and since 2018, Nova has been systematically exploring the multiple prospects within the project area and to date has proven a total gold resource estimate of 9.6Moz.

The 9.6 Moz gold resource at Estelle is hosted within the Korbel Main and RPM North Deposits, two of 21 major prospects in what is quickly developing into a prospective major gold trend. This resource was estimated in accordance with the JORC Code (2012) and classified as follows:

Why Alaska?
  • 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
Snow Road Operations

SnowCat Services of Alaska has built a 100-mile snow road to connect Estelle to the mining towns of Willow and Wasilla.

The road provides Nova with easy access to the Estelle site for up to four months of the year and enables heavy machinery, fuel, and other supplies to be brought into the Whiskey Bravo camp site in a much more cost-efficient manner.

Snow roads are the norm for many major mines around the world including, Diavik Mine (Canada), Magadan Mine (Russia), Nechalacho Mine (Canada), Coffee Mine (Canada), Kupol Gold Mine (Russia).

This year Nova is also bringing in additional infrastructure to expand Nova’s Whiskey Bravo man camp near Korbel and safety huts at RPM, in time for the much-anticipated recommencement of the RPM Gold Project drill program.

Our Opportunity

Nova has rapidly grown its resource base to 9.6Moz in just three years of exploration, yet the company is only just beginning to unearth the enormous potential at the Estelle Gold Trend. The project is showing signs of evolving into ‘the Carlin trend of the North’.  Extensive drilling programs are planned to continue to grow both the size and confidence of the already massive resource base over the coming years.

Resource growth at Nova’s Estelle Gold Trend since 2018:
Other Prospects Pipeline

While both the Korbel Main and RPM North Deposits remain open in all directions, Nova also has 19 other known prospects at various stages of advancement across the 35km long mineralised corridor, including the recent significant discoveries at the Train/Shoeshine and Stoney prospects.

Rock chip samples have identified a 1km long, 500m wide surface gold anomaly at Train, confirming the potential for another massive IRGS type gold deposit.

At Stoney, surface sampling and mapping has identified a high-grade Polymetallic Au-Ag-Cu Stacked Vein System.

As systematic reconnaissance exploration programs continue, the company expects further discoveries of surface outcropping deposits to create decades of future mine life through a pipeline of exploitable resources.

Our Strategy

Nova is accelerating its activity across the Estelle Gold Trend towards production with a Central Processing Facility at Korbel, anticipating mine construction circa 2025 and the first gold pour in 2026.

Estelle’s Path to Production:
  1. 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
  2. Phase 2 Scoping Study – Later in 2022
    The phase 2 scoping study will include the RPM North Deposit’s mineral resource as well, the inclusion of which is anticipated to improve the overall project’s economics significantly due to its much higher grade, with a minimal extra CAPEX requirement
  3. Pre-Feasibility Study – Late 2023
    The PFS will include additional resources from the wider Korbel and RPM Gold Projects, which is anticipated will improve the project economics even further and include environmental studies and a greater level of accuracy than the scoping studies
  4. Bankable Feasibility Study – 2023/2024
    The BFS 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
  5. Mine Construction – 2025/2026
    Subject to obtaining all necessary approvals and regulatory requirements
  6. 1st Gold Pour – Late 2026
  7. Further exploration and drilling to increase the life of mine across the entire Estelle Gold Trend

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.