I'm certainly impressed by Newmont positive view on the JV. Given that they are already planning Stage 3 even before receiving the assay, I can only guess that they have intersected the target zone which host rich mineralisation.
Snow Lake is now better explained. Essentially, their intent is to milk the project as cash flow generator by selling ore to Sinomines Tanco. The $$$ from that operation can then be used to fund the aggressive exploration campaign at Estelle.
NVA - valuation $0.148 for Estelle based on Maiden JORC Oxide Korbel and RPM Hole SE12-008, page-94
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