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Nova Minerals going strong on Alaskan gold, high growth North American Lithium and eVTOL investments

Highlights

  • The 2,000km long arc-shaped metallogenic Tintina gold province in Alaska is a prime area for gold deposits.
  • Pogo, Fort Knox - True North and Donlin Creek are some of the prominent gold deposits in the region.
  • 10Moz Gold deposits are not uncommon in the region with Estelle is shaping up to be a very prominent gold project
  • Nova Minerals holds significant land holdings in the prolific Tintina gold province, spread across 324km2
  • Nova has identified several prospects on the project tenure and has ramped up exploration activities to unlock the gold potential of the project.
  • Nova is targeting an update on the current Mineral Resource of 4.7Moz by the end of 2021.

When historical blunders will be discussed, the deal between the USA and Russia for the purchase of Alaska will be at the top. The agreement was signed back in March 1867 for a price of US$7.2 million. Even if we consider the time value of money, the deal would be worth around US$130 million in today’s value.

Alaska is endowed with natural resources and holds vast deposits of hydrocarbon, precious and base metals. The Tintina gold province is an arc-shaped metallogenic province that is stretched over 2,000 km. The province is home to some of the major gold projects including Pogo, Fort Knox - True North and Donlin Creek.

Related read: Nova Minerals (ASX:NVA) finds high grade ‘blow out zone’ at Korbel Main, shares up 13%

Location of Tintina gold province (Image source: Company update, 29 April 2021)

An ASX-listed gold explorer and developer, Nova Minerals Limited (ASX:NVA| OTCQB:NVAAF| FSE:QM3), holds a significant tenement package in the prolific Tintina gold province. The namesake project, Estelle Gold Project, is spread across 324km2 area. Further, the Company also holds major investments in high growth North American Lithium and eVTOL investments.

In less than three years, Nova has exponentially increased the mineral resource on the Estelle Project to 4.7Moz. The field activity started in 2018 and by the end of 2021, the Company is planning to update the existing resource of the Project. An extensive drilling campaign is undergoing on the tenure to achieve the target.

Related read: Gold market dynamics serve up a golden opportunity for Nova Minerals’ Estelle project

Huge untested potential on Estelle Project

Nova is focusing its exploration and drilling activities on the Korbel Main and RPM prospects. Although the Company has identified multiple prospects on the tenure, drilling activity is currently concentrated on these two prospects. A field reconnaissance and sampling program is being undertaken on other prospects to identify potential targets for future exploration activities.

The Korbel Main holds the minerals resource of the project, and a major update is anticipated on this front as more area is brought under exploration. The field team is drilling in the NW portion of Korbel as well as the SE corner to increase the resource in size as well as confidence.

Related read: Nova Minerals (ASX:NVA) soars 9% as the Company declares excellent drilling result

During the June 2021 quarter, Nova mobilised one drilling rig for the RPM prospect. RPM has demonstrated excellent rock chip sample results and intercept in historical drilling.

Map of prospects on Estelle Project (Image source: Company update, 29 April 2021)

To save time and money on assay results, Nova commissioned its in-house sample preparation lab on the project site. A sample is sent to a prep lab to prepare the sample for conducting assay study, which is undertaken by some other lab. The involvement of two labs is cost and time intensive and as the drilling campaign is going full throttle on the project, setting up an in-house prep lab was a prudent option.

The operation of the lab has been outsourced to a professional consulting company, which will ensure to provide the lab with competent and skilled technicians.

Also read: Nova Minerals’ (ASX:NVA) investee Snow Lake inches closer to IPO listing in the U.S.

Looking ahead

At the Estelle project Nova intends to

  • Undertake Mineral Resource update of the Korbel Main and maiden Resource of RPM.
  • Finish the planned 50,000m drilling program.
  • Mobilise one more drilling rig on the project and fast track the drilling operation.
  • Announce assay result for pending 10,000m drilled length from Korbel and RPM.
  • Conclude scoping study to outline the OPEX and CAPEX.
  • Commence pre-feasibility study by end of 2021.

Looking ahead from a corporate

Related read: Nova Minerals gets on the fast track with commissioning of sample lab at Estelle Gold Project

Shares of NVA are trading at AU$0.14 at around 1:00 PM (AEST). The Company has a market cap of AU$243.73 million as of 7 September 2021.

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