What's Happening?
Nova Minerals Limited has announced significant results from its recent drilling at the RPM Valley deposit, part of the Estelle Gold and Critical Minerals Project in Alaska. The 2025 drilling program has confirmed
the continuity of a mineralized system with high-grade gold intercepts, including a record 0.5 meters at 364 grams per ton (g/t) of gold. The drilling aims to support a maiden Measured and Indicated Mineral Resource and a Pre-Feasibility Study (PFS). The results indicate that the mineralization remains open in multiple directions, suggesting a larger mineralized intrusive unit. The company has also conducted reverse circulation drilling in the glacial till, which, despite low sample recovery, shows potential for heap leach recovery due to the nature of the material.
Why It's Important?
The drilling results are crucial for Nova Minerals as they enhance the resource confidence at RPM Valley, potentially leading to a significant mining operation. The high-grade gold intercepts suggest the presence of discrete high-grade zones within a broader mineralized system, which could increase the project's economic viability. This development is significant for the U.S. mining industry, particularly in Alaska, as it could lead to increased investment and job creation in the region. The project's success could also contribute to the U.S.'s strategic mineral reserves, particularly in gold and antimony, which are critical for various industries.
What's Next?
Nova Minerals plans to continue its exploration and development activities at RPM Valley. The company will focus on further drilling to expand the resource base and improve sampling methods in the glacial till. Ongoing PFS-level studies will include metallurgical test work, mining studies, and optimization studies. The company also plans to update its Mineral Resource Estimate based on the 2023-2025 drill programs. Future work will aim to verify the thickness of the mineralized zones and explore additional targets across the broader project area.
