The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Deposit traced for 1,600 meters, remains open to SE and NW North of 60 Mining News – February 12, 2021
Tracked vehicles and a winter road offers Nova Minerals with a relatively low-cost means of transporting goods and supplies to support year-round drilling at Estelle, a gold-rich property about 100 miles northwest of Anchorage, Alaska.
Nova Minerals Ltd. Feb. 8 reports that it has extended the gold mineralization tapped with drilling at the Korbel Main deposit on its Estelle project in Alaska to 1,600 meters along strike and growing.
"We are yet to find the extent of the Korbel Main system and continue to encounter wide gold mineralization intercepts, further expanding the footprint," said Nova Minerals CEO Christopher Gerteisen.
As of September, Korbel resource blocks A and B hosted 291 million metric tons of Australian Joint Ore Reserves Committee- (JORC) compliant inferred resource averaging 0.4 grams per metric ton (3.3 million ounces) gold.
Since this resource was calculated, drilling has connected the two resource blocks into a contiguous body of gold mineralization that extends for roughly 1,350 meters along strike and began extending it further to the southeast.
Highlights from recently reported assay results from the Korbel Main southeast extension area include:
• 320 meters averaging 0.4 g/t gold from a depth of 55 meters in hole KDBH-052, including 174 meters of 0.6 g/t gold from 143 meters.
• 527 meters averaging 0.3 g/t gold from a depth of 60 meters in hole KBDH-054, including 107 meters of 0.5 g/t gold from 91 meters.
• 256 meters averaging 0.4 g/t gold from a depth of 109 meters in hole KDBH-056, including 61 meters of 0.8 g/t gold from 240 meters.
"The southeast extension appears to be a major new gold trend extending the Korbel Main deposit by 340 meters in length and 400 meters in width, increasing the resource zone by 30% along strike, a clear demonstration of the significant size and scale of the mineralized structure which still remains wide open," said Gerteisen.
Nova also reported results from one hole drilled northwest of Korbel Main. This hole, KBDH-045 cut 253 meters averaging 0.3 g/t gold from a depth of 52 meters, including 113 meters of 0.5 g/t from 192 meters.
"Hole KBDH-045 significantly expands the resource footprint to the northwest, indicating the potential for Block D and Isabella to converge into Korbel Main as drilling progresses," said Gerteisen.
This represents a roughly 700- by 700-meter expansion area on the northwest edge of Korbel Main.
All holes that Nova drilled through the end of 2020 are being processed at the assay labs and will be incorporated into an updated resource estimate slated for completion early in the second quarter of this year.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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