First test for sorting ore on material from Nova Minerals (ASX NVA / WKN A2H9WL) Korbel Main deposits in Alaska have achieved “outstanding” results, according to the company!
The tests were conducted on a 10 kilogram sample taken from Nova at the deposit that is part of the Estelle Project in Alaska. The bulk ore sorting alone was able to upgrade the material from 0.25 to 0.31 grams of gold per tonne (g / t gold), with the spoil content of the deposited material being 0.06 g / t gold.
Together, bulk and particulate ore grading could produce a high grade material from the mined ore that was grading 6 g / t gold!
Nova’s CEO Christopher Gerteisen said that the Korbel Main deposit kept astonishing the company. Not only does it indicate that Korbel Main has a world-class resource, the deposit is also outstanding in all other decisive technical aspects. According to Gerteisen, this includes that the mineralization starts at the surface, but also the exceptionally good metallurgical properties, including the gold recovery rate.
Referring to today’s results, the Nova CEO stated that ore grading is a real possibility in the future to increase operational efficiency and will also be incorporated into the work on the economic evaluation of the project. Keeping the dilution and mineral loss to a minimum is of crucial importance, Gerteisen said.
The ore sorting has the potential to further increase the intrinsic value of the material, since the sorted material can be diverted into high-grade flows for a CIL (carbon-in-leach) cycle, while the remaining material is processed with the help of heap leaching, so that only a minimum of material would accumulate as overburden, he explained.
According to Nova Minerals, ore sorting is increasingly used in commercial mining, including the extraction of manganese, iron ore, nickel, uranium, coal, phosphate – and gold. This is a proven technology that can achieve high recovery rates and ensures that there are fewer fluctuations in the material for the production plant.
The use of ore sorting could also create additional value by, among other things, extending the operating life of the mine, reducing mining and lowering transport and energy costs.
These initial tests will continue through January, according to the company. Particle sorting tests on a larger sample are scheduled to begin in the first quarter of 2021, with results then expected in the second quarter. In addition, advanced mass sorting tests should be carried out and results should also be available here at the beginning of the June quarter.
Nova has so far proven a resource of around 3.3 million ounces of gold at 0.35 g / t gold on Korbel Main alone. A new resource estimate should follow next year. The company definitely has sufficient funding to deliver on its ambitious plans as it recently raised A $ 21 million to accelerate the development of Estelle.
In our opinion, Nova Minerals has shown once again that Korbel Main is a deposit whose development could be extremely profitable for the company – and then hopefully for the shareholders too. Until then, Nova still has a lot of work to do and has to overcome various hurdles in order to minimize the risks of the project. In the end, however, Korbel Main could potentially become the starting point for the development of an entire gold district – called Estelle. We will definitely observe whether Nova will be able to continue its rapid development – both in terms of course and project – in 2021.
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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 any increase in the price of Nova Minerals shares. This is another clear conflict of interest.
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