Drilling Preparation Underway at the Estelle Gold Camp
Melbourne, Dec 16, 2019 AEST (ABN Newswire) - The directors of Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (QTRPF:OTCMKTS) are pleased to announce the Company has engaged the services of well-respected Snow Road experts and logistics solution provider SnowCat Services of Alaska.
With priority drill targets established (ASX announcement: 9 December, 2019) to both increase the current 2.5Moz resource in both size and confidence and explore additional targets the company is now moving forward with critical procurements and the logistics required to establish a permanent foothold at the project with access routes, fixed camp and operational infrastructure and equipment to enable the company to operate year-round as it moves forward on a fast track project development strategy. In addition, this infrastructure will be in place and ideally suited for the benefit of future potential mining operations.
NVA Managing Director, Mr. Avi Kimelman said:
"We are pleased to be rapidly progressing the project as outlined in our indicative timeline set out as we embark on our efforts to significantly increase our 2.5Moz Gold resource both in size and confidence while maintaining our run rate of keeping our discovery cost per ounce below a dollar per ounce.
The Snow Road to bring in the camp infrastructure, drill rigs and equipment that will serve the project for many years to come will additionally bring costs down further. We have a 10-year plus run way of exploration targets to cover and upside in resource growth across the Estelle Gold camp while moving the more advanced prospects to development stage later in 2020. The infrastructure utilised now is also planned to serve as future infrastructure for any future mining.
To reiterate, not all that many opportunities come around to drill a system this large such as what we have at Estelle, with an established 2.5Moz inferred gold resource on a small area and open significantly in all directions. We are excited to be ramping up our exploration efforts to increase the resource both in size and confidence to commence our preliminary economic studies as part of the projects natural progression to the next level of development."
Furthermore, after Nova successfully confirming its maiden resource at the Estelle Project in southern Alaska, the Company plans to fast track exploration at the Project, with a view to progressively expanding the resource base. The Company's funds will be invested in a series of ongoing exploration campaigns - including targeting, mapping and drilling programs - across the district-scale Estelle Project. Immediate priorities will include a resource upgrade at Oxide Korbel Blocks A and B as soon as practical, additional drilling at Oxide Korbel Blocks C and D and RPM (ASX announcement: 9 December, 2019), and a maiden project-wide resource statement to build on the maiden 2.5Moz inferred gold resource (ASX 11 September 2019). The Company will update the market on its exploration progress and results, and will also seek to fast track preliminary economic evaluation on the Oxide Korbel resource area.
To view tables and figures, please visit:
https://abnnewswire.net/lnk/97149PQC
About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
| ||
|
