Drilling contract awarded at the Estelle gold district project

Nova Minerals Ltd has announced the engagement of a tier one drilling contractor, Ruen Drilling Inc. Ruen’s expertise in diamond drilling will assist with the company’s progression of the Korbel deposit to a future low strip, bulk minable, heap leach gold operation.
Drilling contract awarded at the Estelle gold district project Drilling contract awarded at the Estelle gold district project Drilling contract awarded at the Estelle gold district project Drilling contract awarded at the Estelle gold district project Drilling contract awarded at the Estelle gold district project

The location of Nova Minerals' Estelle gold project in North America

The resource development drilling programme will initially target the Starter Pit at Korbel Block B's Pads 3 and 4. The location of Pad 3 is within the vicinity of a high-grade intercept of 27.6g/t Au over 1.5m returned from hole OX-RC-16 drilled in the summer of 2019. In addition, re-sampling of hole SE12-004, also in the vicinity of Pad 3, returned a broad intercept of 1.20g/t Au over 70.1m.

Drilling from Pad 3 will continue to expand the resource laterally and at depth by targeting mineralisation down to the 500m level.

The additional data density from drilling Pad 3 and 4 will also increase the confidence of the resource and shift tonnes from inferred into the measured and indicated (M & I) categories. The global objective is to push the Starter Pit towards a feasibility study in 2021.

Nova has also defined outside drill targets at Korbel within Blocks A, C, D, and Cathedral. Across the claim block, additional significant targets have been identified at the RPM and the Shoeshine prospect.  

Avi Kimelman, Nova managing director, said: "We are very pleased with the capabilities demonstrated by Ruen Drilling Inc. and look forward to mobilisation their drilling equipment to Korbel deposit as per our forecasted timeline. Ruen is a professional tier one outfit and we look forward to working with them on the Estelle Gold Camp in 2020 and beyond."

The strategy is to set up the drills at the Korbel Block B or the Starter Pit (Pads 3 and 4) with the aim to develop tonnes to the M & I level and then to move the project into the development stage by commencing ore sorting scoping study and pushing the project towards a pre-feasibility study in 2021.

In 2019 Nova proved up 2.5Moz of gold in the inferred category in a very short period of time and is now looking to amplifying its exploration and project development efforts in 2020 and is committed to keeping its shareholders constantly updated on its progress.

"Furthermore," Kimelman said, "and most importantly, our 2.5Moz inferred resource was achieved using and average drill depth of less than 100m. Induced polarisation chargeability results show that the mineralisation is present at 300m below surface. This programme is now planned to test down to 500m level or approximately five times the current depth of the current resource area.

"We are unlocking a district at the Estelle gold project and have a plethora of highly prospective targets such as Cathedral, RPM and Shoeshine that we will drill later in 2020. We also anticipate that these prospects will add significantly to Nova's Resource base and solidify the Estelle Project as the next emerging major gold camp."

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