Nova Minerals Limited (ASX: NVA | OTC: NVAAF | FSE: QM3) has announced that its PFS level targeted drilling is now underway at RPM with additional rigs being mobilized in the coming weeks to the Train and Trumpet prospects as the construction of new drill pads are completed.
“We are very excited to return to the field again in 2023 to continue to build on the exceptional growth we have shown in just four years having now defined a massive 9.9Moz gold resource across four large deposits on the district scale Estelle Gold Project,” commented Nova CEO, Christopher Gerteisen.
“As demonstrated in the recent scoping study, any results above the current mill feed grade of 0.76g/t Au will greatly enhance the project’s already strong economics and we look forward to announcing the drill assays as they are returned from the labs in the coming months.”
The company’s intention this year is to drill approximately 15,000m utilizing an average of three diamond rigs, with PFS stage drilling focusing on both increasing the drill density of the resource, plus extensional drilling to further grow the global gold resource. The drill rigs will be in operation 24 hours a day on rotation, seven days a week.
The 2023 RPM area drill programme has commenced on the RPM ridge line to further infill and expand the at surface high-grade resource around the existing deposits at both RPM North and RPM South, where Nova has previously had high-grade drill intercepts in the past and looks to exceed the current mill feed grade.
Drill pads are also concurrently being constructed in the Train area with more rigs to be mobilized in the coming weeks, with the aim this year being to establish a third major resource area (Korbel, RPM, and Train) and fifth large gold deposit on the Estelle Gold Project in 2023.
Nova is also currently looking into its potential listing options on a major US stock exchange in the later part of this year.
For further information, please visit: www.novaminerals.com.au
