General Chat, page-6694

News from axinocapital published on 21.08.2023 ( translated from German with Google translator ).

Drilling begins at the Train depositNova Minerals Limited (ASX: NVA, FSE: QM3) has commenced drilling of the first drill holes at the Train deposit of the Estelle Gold Project in Alaska. This marks a new phase in the development of the huge gold district. It aims to further increase the current resource of 9.9 million ounces of gold and to increase confidence in the quality and size of the resource.
Nova Minerals shareholders have every reason to be excited about the near future as the Train area is of particular interest because it is only seven kilometers north of the high-grade RPM zone and the rocks encountered here are also very interesting is very similar to the RPM zone. Up to twelve diamond drill holes are planned.They are planned to be drilled by three drill rigs on selected target areas previously identified as highly prospective. The goal of Nova Minerals is quite ambitious, because a first inferred resource on the Train deposit is to be defined before the end of this year. The urgency with which the boreholes are being pushed forward is also high, because the drill bits will not only be turning day and night, but also on the weekends.Nova Minerals has high expectations for the Train depositPrevious soil sampling had identified high-grade rock chips along a gold trend approximately 1.5 kilometers long. It consists of intrusive-related gold structures and shear-bearing mineralized zones, but has never been drilled to depth. Nova Minerals would like to do this now. The primary aim will be to further deepen the understanding of the type and structure of the deposit.Christopher Gerteisen, CEO of Nova Minerals, stated at the start of the work, “The exploration drilling of this year's first pass at Train at Train was specifically targeted to understand the mineralization structures and mineralization control, as well as the lithology, alteration style and mineralization styles to better understand where the gold found on the surface came from. An initial inferred resource at Train is expected to be developed later this year based on the results of this drilling.”Will the Estelle Gold Project be in Production Earlier?This is exciting, especially since the holes drilled in the north and south of the RPM zone have all been completed in the meantime and the cores have been handed over to the laboratory for precise evaluation. Here, Nova's interest had focused on the second intrusion of the RPM Zone discovered during the 2022 drill program.
Other exciting aspects are currently being pursued in the background. Worth mentioning here are the intended listing on a US stock exchange as well as various tests and trade-off studies that are being carried out as part of the ongoing preliminary feasibility study.
Nova Minerals is not only pursuing the goal of incorporating the additional results and knowledge gained since the publication of the first study into the evaluation, but also pursuing strategic considerations.
They aim to address the question of whether it makes sense to bring the Estelle Gold Project into production faster than previously planned. This question is not only a theoretical thought experiment, but could be of crucial importance for the development of the project as well as that of the share price. If, at the end of these considerations, the decision is made to start gold production earlier, the cash flow from the mine operations will also start earlier, giving Nova Minerals the opportunity to finance further exploration and development from current income.