Rock Chip Sample Values Up To 48.4g/t Au, 2720g/t Ag, 2.4% Cu
Nova Minerals Limited (ASX: NVA, OTC: NVAAF) has made another major mineralised zone discovery within the company’s flagship Estelle Gold Project located in the prolific Tintina Gold Belt in Alaska.
The Stoney, Rainy Day, and T5 finds are located in the central portion of the claim block between Portage Creek and Muddy Creek.
They are all hosted in a granodiorite phase of the Estelle Pluton. The goals of these sampling traverses were to collect representative chip samples of what appeared to be high grade mineralization on the Stoney Vein, identify the colour anomaly at what is now referred to as the Rainy Day Vein, and determine the source of the magnetic anomaly at T5.
CEO, Christopher Gerteisen, said the extent of mineralisation shows an inferred strike length of the Stoney Vein of almost 4km. It is suggested that yhe Rainy Day Vein occurrence may be a parallel vein or splay to the west of Stoney.
“The success of the 2021 reconnaissance exploration program further confirms the depth and scale of the Estelle Gold Project,” Mr Gerteisen said.
“These rock chip sample results, which include high grade silver, copper, as well as gold, open up another dimension for Estelle with the discovery of an extensive polymetallic vein system. The Stoney vein was mapped along almost 4km of mineralized strike (Figures 1,2,3) which represents more than 300m of vertical extent.
“The vein is exposed and outcropping along significant portions of this distance with widths of 10-15m observed in places.
“The geologists also mapped numerous parallel stacked veins and splays, such as the Rainy Day Vein, which returned high grade results and is part of the same mineralised system. The Stoney prospect discovery highlights further potential of another large-scale mineralised system within the Estelle Gold Project, now with silver and copper upside as well.
“The Stoney Prospect is situated between the current 4.7Moz Korbel deposit and the RPM deposit to the south.
“This now unlocks 3 priority deposits, which are all company makers on their own, within the Estelle District. The Korbel Main deposit with a resource that continues to advance in both size and confidence on the path to production, the RPM deposit with a Maiden resource coming soon.
“In addition, the 2021 recon exploration field programme has identified further prospects with promising geology also observed. Sample results from the other prospects are pending and further news will be released in short order.
“In time, we expect to define multiple new shallow gold resources that will further support our goal of aggressively growing the resource inventory as we continue to move towards production at the Estelle Gold Project.
“As this massive polymetallic discovery at Stoney Prospect once again shows, there is no shortage of targets at Estelle, which we are systematically working through, with further success expected on the horizon, as we continue to turn the district into one of North America’s leading new gold camps.”
For further information please visit: https://novaminerals.com.au/
