Just got gold explorer Nova Minerals (WKN A2H9WL / ASX NVA) reported an increase in resources on the Estelle gold project to 3.3 million ounces of gold (We reported.), as the company is releasing news that illustrates the potential of the property and in particular of the Korbel target area.
Encouraging mineralization opens new area on Block D
Because, as reported by Nova, the drilling has started on Block D of Korbel (laboratory results are still pending) and have encountered encouraging arsenotyrite quartz veins.
In addition, the results of the remaining holes for Block B and Block A are pending now that the original drill program (48 holes) has been completed. This revealed, as Nova announced today, that the mineralization extends from Block B over to Block A!
Again, mighty mineralized sections
In addition, thick drill sections on Block A include 250 meters of 0.4 g / t gold including 52 meters of 0.5 g / t gold and 46 meters of 0.5 g / t gold and 149 meters of 0. 4 g / t gold including 24 meters yielded 1.0 g / t. In addition, another 9 meters with 1.8 g / t gold and 3 meters with 3.7 g / t were detected in one drill hole.
According to Nova, the gold mineralization has now also been confirmed to extend southeast of Block B and outside of the previous 3.3 million ounce gold resource model. Overall, this has proven more than 1,500 meters of strike length on Blocks A and B and, according to Nova, there is immediate potential to significantly expand the deposit as some drill holes end in mineralization and others have further depth potential.
Nova has also delivered samples from an additional 30 holes in Blocks A and B to the laboratory and is awaiting the results.
At the same time, a diamond core drill rig has been launched to start drilling on the southeastern extension of Block B. At the same time, diamond core and backwash drilling is ongoing and plans to expand the drill program from the original 25,000 to 40,000 meters this year! In the coming year, up to 80,000 meters should be added!
And that’s not all, Nova Minerals is also continuing initial profitability studies and further investigations into possible ore grading.
NVA’s Ceo Christopher Gerteisen is definitely very satisfied with the results and progress made so far and emphasizes that the Korbel deposit continues to grow unchecked and that the end of the mineralization is not yet in sight.
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, as 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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