Nova Minerals Limited (ASX: NVA) has moved quickly to follow up the completion of its robust Estelle Gold Project Phase 2 Scoping Study (the Study) with the start-up of preparations for the commencement of the company’s 2023 drilling season in Alaska.
The scoping study sensitivity analysis has shown how sensitive the project is to improvements in the LOM mill feed grade above the current 0.73g/t Au. Consequently, this year’s drill programme will focus on the southern area of the 450sq. km site with a core focus to hone in on more material above this grade to potentially improve the economic metrics further in the PFS.
“With the completion of the Phase 2 Scoping Study, which was a major milestone for the company and provided some clear goals going forward particularly in relation to increasing the LOM mill feed grade and optimizing the process flowsheet, we are excited to be ramping up the activity on site as we prepare for our upcoming 2023 drill programme,” CEO, Christopher Gerteisen, said.
“This year our drill programme and test work is aimed at honing in on walk up targets to rapidly increase the mill feed grade and optimise metallurgical studies further for higher recoveries as the study has shown that any improvements in these areas has the greatest positive impact to the bottom line.
“We are confident that the combination of economic and technical strengths which come from having a large, bulk tonnage project in a Tier-1 location, will drive shareholder value as we continue to unlock the Estelle Gold Project on our path towards production.”
Proposed 2023 RPM Area Drill Programme
This year the core aim of approximately 12,000m drilling at the RPM area is to further infill and expand the at surface high-grade (to exceed the current mill feed grade) resource around the existing deposits at both RPM North (currently 450mL x 150mW) and RPM South (currently 400mL x 250mW).
In addition, drills will also target the 600m high priority continuous mineralized area linking RPM North to RPM South which intersected a 2nd large mineralized intrusive in the lower part of holes RPM-037.
Proposed 2023 Train Area Drill Programme
A maiden approximately 3,000m drill programme in the Train area this year will focus on exploration and resource definition drilling to target the RPM-style mineralization which has been observed at both Train and Trumpet and in the 1.5km strike length between the two prospects, with the ultimate aim to define a third gold resource in the Train area in 2023.
For further information please visit: https://novaminerals.com.au/
