Nova preps for winter drilling at Estelle

Nova Minerals Ltd. Sept. 30 said it is gearing up for a planned 25,000-meter drill program at its Estelle gold property in Alaska.

The Australia-based explorer, which submitted applications for the permits needed to carry out the exploration and establish a permanent camp at Estelle, plans to have drills turning on the gold property in January.

"We are currently in planning and permitting stage on the Estelle gold project and will be drilling as soon as permits are in," said Nova Minerals Managing Director Avi Kimelman. "All-year-round drilling is the plan at this point with the clear indication of great resource expansion both in size and confidence."

Early in September, Nova announced an inferred resource of 181.3 million metric tons averaging 0.43 grams per metric ton (2.5 million ounces) gold for the Oxide Korbel deposit at Estelle.

This resource is contained within two resource blocks – A and B. Together, these adjacent blocks cover more than 1,000 meters of strike and are roughly 500 meters wide, on average.

Two untested targets – C and D – cover larger and stronger induced polarization (IP) chargeability anomalies to the west of the Estelle Korbel resource blocks.

The upcoming 25,000 meters of reverse circulation and diamond drilling will focus on upgrading and expanding the resource at blocks A and B, as well as begin testing targets C and D.

Nova is also investigating targets outside the resource area in preparation for the next round of drilling across the 43-square-mile (112 square kilometers) property.

Two of these targets – Oxide South and Oxide North – are within 1,500 meters of the Oxide Korbel deposit at the north end of the Estelle property. Nova said these targets indicate the potential for further resource growth within the larger Oxide Korbel area and the company intends to carry out induced polarization (IP) geophysical surveys and drilling there next year.

Shoeshine, an exploration area about 10 miles (16 kilometers) south of Oxide Korbel, is another target Nova is investigating.

Exploration carried out by Millrock Resources about a decade ago outlined a 300- by 1,000-meter anomalous zone at the Shoeshine target. The average grade of 49 samples collected from a rubble field in this area was 0.585 g/t gold. One sample of porphyry rock cut by sheeted quartz veinlets returned assays of 13.13 g/t gold.

RPM, a target at the southern end of the 18-mile- (29 kilometers) long Estelle property, is also being investigated.

In mid-September, Nova announced results from the re-assaying of core from a hole drilled at RPM in 2012 under a partnership between Millrock Resources Inc. and Teck Resources Ltd.

The assays from this resampling show that SE12-008 cut 177.4 meters averaging 0.79 g/t gold from a depth of 4.3 meters. This includes 50.2 meters of 1.75 g/t gold from a depth of 75.2 meters.

Nova said it plans to carry out an aggressive program of prospecting, mapping, geophysical surveys and follow-up drilling at RPM during the 2020 field season.

If the exploration drilling confirms the SE12-008 results, the company plans to quickly transition the program to resource delineation drilling.

The 2020 program is currently slated to begin in January, which will take advantage of the benefits of mobilizing exploration at its Alaska gold property during the winter months.

The primary benefits of winter mobilization are frozen ground and snow cover, making it possible to travel over areas not as easily traversed in the summer. This allows for the delivery of fuel and supplies over winter trails, cutting down the costs associated with flying in supplies.

A 110-mile (175 kilometers) winter trail has already been established to the Estelle area and in 2011 was utilized to deliver supplies to the neighboring Whistler copper-gold property.

Nova Minerals plans to mobilize the first drill to Estelle in January and begin drilling shortly thereafter. The company said up to four drills will be turning on the Alaska gold property in 2020.

–SHANE LASLEY