Alaska, November 27, 2024 – Nova Minerals Ltd. (ASX: NVA) has announced significant progress at its Estelle Gold Project in Alaska, revealing that a recent sampling program has expanded the size of the high-grade gold zone at the Muddy Creek exploration target. The discovery, which comes as part of a larger mineralization trend that includes gold, silver, copper, and antimony, further strengthens the potential of Nova’s district-scale Estelle project in Alaska’s West Susitna Minerals District.
Major Gold Discovery in the West Susitna District
Located approximately 100 miles northwest of Anchorage, the Estelle Gold Project is situated within a highly prospective region of Alaska. The project encompasses a vast 198-square-mile (514 square kilometers) area, rich with untapped mineral resources. Nova’s latest exploration work at Muddy Creek has not only validated the area’s potential for high-grade gold, but also significantly increased the size of the gold zone, reinforcing the growing optimism surrounding the project.
The Estelle project’s measured and indicated resources now total 244 million metric tons, averaging 0.3 grams per metric ton (g/t) of gold, translating to approximately 2.72 million ounces of gold. Additionally, an inferred resource of 231 million metric tons, averaging 0.3 g/t gold, brings the total inferred gold resource to approximately 2.45 million ounces. These numbers underscore Estelle’s potential to be a substantial long-term gold-producing asset for Nova.
Muddy Creek Gold Zone Expanded
The highlight of Nova’s recent exploration success is the expansion of the high-grade gold zone at Muddy Creek. The sampling program conducted earlier this year has doubled the size of the gold-bearing zone, which forms part of a larger mineralization trend that stretches across the southeastern section of the Estelle project area. This expansion is expected to enhance the overall resource estimate for Estelle, potentially increasing the economic viability of the project.
Muddy Creek lies within a broader gold, silver, copper, and antimony mineralized system, which could be key to the future growth of the Estelle project. The recent sampling results further highlight the gold mineralization potential of the region, with the high-grade zone showing promising continuity and increasing confidence in the discovery’s economic potential.
Two Key Project Areas: Korbel and RPM
The Estelle Gold Project consists of two main resource areas: the Korbel area, located at the northern end of the property, and the RPM area, situated approximately 16 miles (25 kilometers) to the south. Both areas show substantial promise, but they differ in terms of the grade and type of mineralization present.
Korbel Area: The Korbel area is known for its large bulk-tonnage gold resource. It is the largest known resource at Estelle and has been a focal point for the company’s exploration activities. The Korbel resource has an average grade of 0.3 g/t gold, with the potential for significant gold recovery due to the sheer size of the deposit. This area’s large-scale, lower-grade gold mineralization makes it suitable for a potential bulk mining operation.
RPM Area: In contrast to Korbel, the RPM area is distinguished by its higher-grade gold deposits, making it an attractive target for potential near-term mining operations. The higher grade of gold at RPM has sparked interest in developing a mine there, with a focus on more selective, high-recovery mining methods. The RPM area is expected to be the first to undergo development at Estelle, with plans for an initial mine to be scaled up over time to include the broader Estelle property.
Feasibility Study to Detail Mine Development Plans
Nova Minerals is currently conducting a feasibility study to assess the economic and engineering parameters of developing an initial mine at the RPM area. The study will provide a comprehensive analysis of the technical, financial, and environmental aspects of the project, which will guide the company’s decision-making process as it moves toward establishing an operational gold mine.
The feasibility study is expected to outline how a smaller, high-grade operation at RPM can serve as a launchpad for future expansion at Estelle. Over time, the project could evolve into a larger, multi-phase mining operation that includes both the Korbel and RPM areas. By first developing the higher-grade RPM area, Nova aims to maximize profitability in the early stages of the project while continuing to explore and define the resource potential across the rest of the Estelle property.
Strategic Importance of the Estelle Gold Project
The Estelle Gold Project holds significant strategic value for Nova Minerals, not only due to its size and resource potential but also because of its location in Alaska, one of the world’s most mineral-rich regions. Alaska has long been a favorable jurisdiction for mining companies, offering stable political conditions, a well-established regulatory framework, and a highly skilled workforce. These factors make the Estelle project an attractive prospect for investors seeking exposure to gold exploration and production.
Moreover, the proximity of Estelle to existing infrastructure, such as roads, power, and local services, enhances the project’s development potential. The accessibility of the project site is a key advantage, as it reduces logistics costs and improves the efficiency of exploration and future mining operations.
Nova’s Vision for Growth
Nova Minerals has been advancing the Estelle Gold Project with a clear vision for long-term growth. The successful expansion of the high-grade gold zone at Muddy Creek represents a major milestone in the company’s ongoing efforts to enhance the value of the Estelle property. With the combination of large-scale resources at Korbel and high-grade mineralization at RPM, Nova is well-positioned to advance its exploration and development activities into the next phase.
As the feasibility study progresses and more data is collected, Nova intends to continue expanding its resource base while maintaining a focus on the economic and environmental sustainability of the project. With gold prices remaining strong and global demand for precious metals on the rise, Estelle is poised to become a key player in the gold mining sector in the coming years.
Looking Ahead
As Nova Minerals moves forward with its exploration and development plans for the Estelle Gold Project, the company is committed to maximizing the potential of the Muddy Creek high-grade gold zone. The successful expansion of this zone, combined with ongoing exploration efforts, will be critical in defining the future of the Estelle project.
With a feasibility study underway, investors and stakeholders alike will be closely watching the results of Nova’s ongoing work at Estelle. The potential for the project to deliver substantial economic returns, coupled with Nova’s strategic focus on developing a sustainable and scalable operation, positions the company for continued growth in the dynamic global gold market.
Conclusion
Nova Minerals’ continued progress at the Estelle Gold Project, particularly the expansion of the high-grade gold zone at Muddy Creek, marks an exciting development for the company and its shareholders. With a growing resource base and a focused development plan for the RPM area, Nova is well on its way to unlocking the full potential of one of Alaska’s most promising gold prospects. As the project advances through the feasibility study phase and into the development stage, the Estelle Gold Project has the potential to become a significant gold-producing asset in the coming years.
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