Estelle Gold Trend

The Estelle Gold Trend is 150km (93 miles) northwest of Anchorage, AlaskaEstelle 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.

Year-round operation with fully winterized man camp and on-site sample processing facility near large labour force and all essential services.

Access to the project is principally 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:

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 potential at the Estelle Gold Trend. Drilling programs are planned to continue to grow both the size and confidence of the 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 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 additional resources.

Our Strategy

Nova is moving its activity across the Estelle Gold Trend towards production, anticipating mine construction circa 2025 and the first gold pour in 2026.

Estelle’s Path to Production:
  • 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 – 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
  • 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
  • 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
  • Mine Construction – 2025/2026
    Subject to obtaining all necessary approvals and regulatory requirements
  • 1st Gold Pour – Late 2026
  • 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.