Ann: New Broad Zone High-Grade Gold System Discovered at Estelle, page-17

"Drill planning for 2023, focusing on the RPM and Train areas"

Sounds like Korbel has enough drilling done now. Enough to get it to indicated, and for the SS2 to properly reflect the ounces in Korbel (not having ASX rules limiting how much can be treated as truly existing).

So in 2023, maybe they will drill the same number of meters as last year, but without 1/3 of them (from memory) being spent on Korbel infill drilling. So many more meters being dedicated to RPM and high priority targets.


With an additional 30,000m of definition and extensional drilling conducted in 2022, the globalresource is set to grow in size and confidence from the current 9.6 Moz and we look forward to itsdelivery in the coming weeks. Following that the Phase 2 Scoping Study will be completed with PFSlevel drilling focused mainly on RPM and now the Train areas commencing soon after.

MRE is due within weeks? But isn't it meant to include Cathedral? Nice and quick if true.

PFS level drilling - sounds like lots of tightly spaced drilling dedicated to those targets.




Blue - low grade or nothing.
Red - high grade.



I tried to put the surface samples onto this photo (Train). Only half of the satellite view is visible in this photo. Further red and blue areas would be right of this photo.


Top-down view of that front ridge.


Piece of vein. Same type as Cathedral. That 80.2g/t rock seems to have the photo taken just where it was found, in the top-down image.


Trumpet

Trumpet Grades


Approximate locations of the grades in the area.


Above targets on the map.



"The Train area prospects, now including Trumpet, appear to be on one very large Intrusive Related Gold System"
Maybe they're connected by low grade in the middle, or there's more high grade not found yet, or simply not at surface, but it's very early to say. They seem to walk parallel to the ridgelines when doing surface sampling.

Maybe they're connected in the same way as RPM North + South. It's yet to be seen how that connection would play out - a big pit including mining the lower grade in the middle?


"Nova is strongly encouraged by these initial results at Trumpet, and will be well positioned to drill test this prospect immediately after completing the initial drilling at Train in 2023."

Train first. Trumpet second. (RPM concurrently, I assume)


"Upon the completion of Phase 2 Scoping Study, PFS level trade off studies will be used to investigate the possibility of establishing an initial standalone processing plant within the RPM Mining Complex, for the initial years, with another processing plant within the Korbel Mining Complex to be commissioned in later years, as outlined in the previously released Phase 1 Scoping Study (ASX Announcement 28 February 2022)."

This is similar to what I heard in the AGM video call.

Lower CAPEX requirement to begin with - higher chance of gaining funding and becoming a miner. Reinvest proceeds into Korbel.