Korbel Gold Project

The Korbel Gold Project is located in the tenement’s north and remains wide open in all directions with considerable potential upside.

Nova’s Main Focus: An 8,100,000 oz Gold Resource on less than 2% of the project area.
Kobel Gold Project

The Korbel Gold Project is located in the tenement’s north and remains wide open in all directions with considerable potential upside.
  • 3,000,000 oz Indicated
  • 5,100,000 oz Inferred
  • More than 3km of strike
Estelle is a 35km long corridor of 21 identified gold prospects bracketed by the Korbel Project in the north and the RPM Project in the south:
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Summary

The Korbel Gold Project hosts an 8.1 Moz JORC-compliant total gold resource (3.0 Moz Indicated | 5.1Moz Inferred).

The project represents less than 10% of the Estelle Gold Trend’s 450km2 footprint and is made up of eight major prospects including the Korbel Main deposit which remains wide open.

With more than 3km of strike, resource definition drilling and target testing will be ongoing throughout 2022 within the Korbel Project area where the company is confident of adding significantly more ounces, and proving up additional resources into the Indicated category.

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Geological Model

Korbel Main 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).
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Korbel Main Deposit

During January 2020, Nova Minerals’ Geological Team undertook an analysis of all available data collected during the last two field seasons (2018 and 2019). This data was plotted in plan view and domains of highly prospected areas were outlined defining strong As anomalies coincident with gold and high chargeability anomalies.

It has been established by previous fieldwork in the camp that there is a near 1 to 1 correlation with gold mineralization and high As values. Korbel Main is the initial area of interest for resource growth within the Estelle Gold Trend.

Based on these exploration successes, 8.1Moz resource of gold resources has been delineated. It remains wide open and has scale for further growth.

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