Nova is advancing project and economic studies based on a development scenario involving low cost, low strip ratio, open pit with truck and shovel mining operations, with conventional centralized processing plants.
- 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 – 2023
The phase 2 scoping study will include 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– 2024
The PFS will include additional resources from the wider Korbel and RPM Mining Complexes, which is anticipated will improve the project economics even further and include environmental studies and a greater level of accuracy than the scoping studies
- Definitive Feasibility Study – 2025
The DFS 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 – 2026/2027
Subject to obtaining all necessary approvals and regulatory requirements
- 1st Gold Pour – Late 2027
- Further exploration and drilling to increase the life of mine across the entire Estelle Gold Project
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.