Only recently did the Australian Nova Minerals (WKN A2H9WL / ASX NVA) once again reported excellent drill results from the Korbel target, part of the massive Estelle gold project in Alaska. The latest results are now opening up another priority drill target for the company!
As Nova announced today, samples were taken from the Cathedral target directly south of the Korbel Blocks, focusing on quartz arsenopyrite veins – and spectacular gold grades of up to 114 g / t were detected! A total of five additional samples also returned gold grades of more than 10 g / t: 98.3g / t, 37.1g / t, 24.5g / t, 19.6g / t and 11.05g / t gold were also confirmed!
This, according to Nova Minerals, confirms once again the interrelationship between gold and arsenopyrite within the district, making Cathedral one of the most important and promising drill targets in the 2021 drilling campaign!
With this strong link between arsenopyrite and gold, Nova has also decided to expedite the scoping study on ore grading. The aim of this study is to confirm the economic potential of ore sorting and to define a predictive algorithm. If positive results are obtained from this, a second phase of ore sorting will be carried out to confirm the economic benefits at the feasibility level by, among other things, numerous zones sampled and larger samples used. All data and results will also be used for future feasibility studies. Sampling for ore grading will begin this week.
In any case, these are very promising results that seem to confirm once again that Estelle could be an entire gold district. As CEO Christopher Gerteisen explained, Nova Minerals expects to be able to define numerous near-surface gold deposits over time, which should support the major goal of building a central grinding and heap leaching plant and bringing Estelle into production.
For the time being, however, the exploration of Korbel will be continued with drilling in Block A, while at the same time further drilling results are pending from Block B, which are to be included in a resource update which Nova Minerals is now planning for mid-September.
At the moment, it looks like all the signs at Nova Minerals are green: Excellent drill results, strong sample results, ongoing drilling and another strong gold price – even if it is no longer above USD 2,000 an ounce. In any case, we are looking forward to mid-September, when the new resource estimate is to come out. In our opinion, this could lead to a reassessment of the company if the markets approve of the numbers … The risks are of course still high, but in our opinion so are the opportunities. We keep the readers of GOLDINVEST.de up to date.
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.
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