Nova Minerals Announces 41m @ 4.6 g/t Au from Surface at the RPM deposit on its Estelle Gold-Antimony Project, in Alaska

NOVA MINERALS LIMITED
NOVA MINERALS LIMITED

In This Article:

Figure 1

RPM North plan view with all drill holes to date
RPM North plan view with all drill holes to date

Figure 2

RPM North Section A-A’_070azi showing continuity of mineralization
RPM North Section A-A’_070azi showing continuity of mineralization

Figure 3

RPM North Section B-B’_270azi showing continuity of mineralization
RPM North Section B-B’_270azi showing continuity of mineralization

Figure 4

Estelle development optionality
Estelle development optionality

Anchorage, Alaska, Oct. 09, 2024 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) is pleased to announce further high-grade intercepts from the first eight holes of the 21 hole reverse circulation (RC) drilling program conducted in the RPM starter pit area in 2024, within its over 500km2 flagship Estelle Gold Project, located in the Tintina Gold Belt in Alaska. The shallow drilling program was focused on near surface mineralization <50m in depth in support of the RPM starter mine Feasibility Study (FS) currently underway.

Highlights

  • Results from shallow infill and step-out drilling confirms continuity of near surface high-grade mineralization at RPM North with multiple broad intersections grading > 5 g/t Au from surface and sample interval grades up to 39 g/t Au

  • High-grade gold intersections targeting near surface mineralization above the current high-grade Measured and Indicated core continue at RPM North with all holes ending in mineralization. Significant results include (Table 1 and Figures 1 and 2):

    • RPMRC-24005                                                                 

      • 43m @ 4.4 g/t Au from 2m including;                  

      • 23m @ 7.3 g/t Au from 2m

      • 13m @ 10.7 g/t Au from 2m

      •  2m @ 39.2 g/t Au from 13m

    • RPMRC-24006                                                                 

      • 21m @ 3.5 g/t Au from 2m including;

      • 19m @ 3.9 g/t Au from 3m

      •  6m @ 7.1 g/t Au from 5m

    • RPMRC-24007                                                                 

      • 14m @ 1.9 g/t Au from 2m including;

      • 12m @ 2.1 g/t Au from 4m                                   

    • RPMRC-24008                                                                 

      • 45m @ 3.4 g/t Au from surface including;

      • 31m @ 4.7 g/t Au from 3m

      •  8m @ 10.5 g/t Au from 22m

  • Additional significant results received from extensional drilling outside of the current resource model shows near surface mineralization continues towards the South-Southwest with the deposit remaining wide open. These results include (Table 1 and Figures 1 and 3):

    • RPMRC-24001                                                                 

      • 24m @ 0.6 g/t Au from 6m

    • RPMRC-24002                                                                 

      • 45m @ 0.6 g/t Au from 3m including;

      • 20m @ 1.1 g/t Au from 25m

      • 12m @ 1.5 g/t Au from 26m

    • RPMRC-24003                                                                 

      • 25m @ 0.5 g/t Au from 17m

    • RPMRC-24004                                                                 

      • 31m @ 0.6 g/t Au from 3m

  • All drill holes end in gold mineralization.

  • Assay results from 13 remaining holes from the 2024 drill program at RPM to follow.

  • Assay results from the over 500 soil and 225 rock samples collected as part of the extensive 2024 surface exploration and mapping program targeting gold, antimony and other critical minerals from traverses at Stibium, Wombat, West Wing, Muddy Creek, RPM, Styx, and the new claims added in 2023, will be reported by area once received and processed.

  • Resource update including both the 2023 and 2024 drill results to be completed once all results are received.

  • RPM starter mine Feasibility Study (FS), and updated economic study of the Estelle wide project in progress, with the aim to commence with a smaller scale, low capex, high-margin starter mine at RPM as soon as possible, which will provide cashflow to fund the expansion of the larger Estelle project organically.

  • Whittle Consulting engaged to complete project optimization, METS Engineering engaged to complete metallurgical and process design work, and Roughstock Mining engaged for pit and engineering design.