Markets

Nova Minerals: Excellent Drilling Results From Estelle Gold Project!

The Australian gold explorer Nova Minerals (WKN A2H9WL / ASX NVA) triumphs this morning with excellent drill results from its Estelle gold project in Alaska’s Tintina gold belt. Australian investors reward this with a price increase of 12%!

Nova has already identified an inferred resource of approximately 2.5 million ounces of gold at Estelle, specifically in Blocks A and B of the Korbel Target. The signs are good that this resource estimate can be expanded considerably, as the company has once again presented excellent drill results from Korbel. The highlights:

– 101 meters with 1.3 g / t gold, including 82 meters with 1.5 g / t gold, 30 meters with 2.4 g / t gold, 3 meters with 7.7 g / t gold, 6 meters with 4.7 g / t gold and 3 meters of 8.2 g / t gold in drill hole KDBH-012 (a total of 429 meters of 0.6 g / t gold from 3 meters depth),

– 150 meters of 0.6 g / t gold, including 21 meters of 1.6 g / t gold in KBDH-005

– 163 meters of 0.6 g / t gold, including 87 meters of 0.7 g / t gold in KBDH-009 and

– 137 meters with 0.6 g / t gold, including 97 meters with 0.7 g / t in KBDH-010.

According to Nova Minerals, these broader, powerful mineralization intervals show that Estelle is growing into a very large, continuous gold system – and the mineralization remains open on strike and at depth! The continuity of gold mineralization, according to the company, was once again confirmed with these holes.

As Nova’s CEO Christopher Gerteisen explained, the extent and dimensions of the near surface mineralization in the Korbel area are impressive, especially given the high-grade smear that has now been detected outside the area of ​​the existing resource.

It has repeatedly stated that the goal of the ongoing drill program is to detect a significant amount of new gold ounces and firmly believe that it will exceed that goal later this year.

The drilling at Korbel is continuing and a diamond core drill is now in use on Block A, drilling location 2, where there is similar potential as on Block B. One wants to expand the resource further, both in strike and in depth, so Gerteisen further. The second drill rig is completing drilling location 2, which is to be followed by location 6 to the southeast in a now discovered high grade zone. At the same time, so-called backwash boreholes (RC) will be taken in order to track down further targets in the Korbel area in order to test the deposit at the previous strike length.

We are impressed with the continuity of gold mineralization emerging at Korbel, as well as the length of the mineralized intercepts encountered and the potential for further expansion of the now known occurrences. It seems to be becoming apparent that Nova Minerals is making good progress on the way to the desired goal of doubling the previously designated resource (as CEO Gerteisen explained in an interview with GOLDINVEST.de some time ago).

A word about the classification of the gold grades that Nova has detected today and in the past on the Estelle project: Major Kinross Gold (WKN A0DM94) at the Fort Knox Mine and Victoria Gold (WKN A2PVRH) at the Dublin Gulch Mine are already exploiting similar deposits in the Tintina gold belt. Both mines worked with well below 1 gram of gold per ton – in the case of Fort Knox the average grade of the mine is only 0.32 g / t gold – already highly profitable at 1,500 USD per ounce of gold. With currently almost 2,000 USD gold, the profitability should be significantly higher again! Both mines produce at so-called all-in sustaining costs (AISC) of 570 to 850 USD per ounce. The margins should be huge!

Nova Minerals is of course still a long way from production and is still a high-risk speculation. But with every successful well the risk goes down, while we believe the potential becomes clearer. The next resource estimate for Block B by Korbel, which Nova Minerals says will be published shortly, should provide further clarity.

Risk warning: GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to publish comments, analyzes and news on http://www.goldinvest.de. This content is intended solely for the information of the reader and does not represent any kind of call for action, neither explicitly nor implicitly are they to be understood as a guarantee of possible price developments. Furthermore, they are in no way a substitute for individual, expert investment advice, rather they are advertising / journalistic publications. Readers who make investment decisions or carry out transactions on the basis of the information provided here act entirely at their own risk. The acquisition of securities involves high risks, which can lead to the total loss of the capital invested. GOLDINVEST Consulting GmbH and its authors expressly exclude any liability for financial losses or the content-related guarantee for topicality, correctness, adequacy and completeness of the articles offered here. Please take note of our Terms of Use.

In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that clients, partners, authors and employees of GOLDINVEST Consulting GmbH hold or can hold shares in Nova Minerals and that there is therefore a possible conflict of interest. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values ​​recommended by us during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. Furthermore, there is a consulting or other service contract between a third party in the Nova Minerals warehouse and GOLDINVEST Consulting GmbH, which creates a conflict of interest, since this third party pays GOLDINVEST Consulting GmbH in return for reporting on Nova Minerals. This third party may also hold, sell or buy Nova Minerals shares and would benefit from an increase in the price of Nova Minerals shares. This is another clear conflict of interest.

Note: PERSONAL-FINANCIAL.COM publishes analyzes, columns and news from various sources in this section. PERSONAL-FINANCIAL.COM AG is not responsible for content that has been recognized by third parties in the “News” section of this website and does not adopt it as its own. This content can be identified in particular by a corresponding “from” mark below the article heading and / or by the link “To read the full article, please click here.”; The named third party is solely responsible for this content.

Tags

Related Articles

Back to top button
Close
Close