Is Nova Minerals Ready for the Gold Project in 2024?

Nova Minerals Limited’s (ASX: NVA) latest project has been nothing short of impressive and revolutionary. It has taken forward its exploration and development of its flagship Estelle Gold Project in the Tintina Gold Belt, Alaska.

Now that over a month of 2024 has passed, the business is set up for a successful year. Naturally, the goal of this is to expand on the successes and benchmarks reached in the previous year.

Drill Results at RPM Valley

One of the standout achievements for Nova Minerals (ASX: NVA) in 2023 was the exceptional drill results obtained at RPM Valley. The consistency of mineralization was confirmed by high-grade drilling at RPM North. With over 10 broad intersections grading above 5 g/t Au, the results underscore the richness of the Estelle Gold Project.

The continuous success at RPM Valley not only reaffirms the project's potential but also indicates the scalability of the resource. These promising results form a solid foundation for Nova as they continue their exploration and development efforts in 2024.

The company’s commitment to understanding the Estelle Gold Project is evident in the surface exploration program conducted during the 2023 field season. Head of Exploration, Mr. Hans Hoffman, led a comprehensive mapping and sampling program covering the entire 513km2 project site.

This included

• 21 stream sediment samples
• 100-line km traverses
• 446 samples of rocks
• 674 samples of soil

This program led to the discovery of new prospects and unearthed various insights into the geological and mineralogical makeup of the region. Nova's dedication to understanding the project site's nuances positions them favorably for making informed decisions in the upcoming phases of development.

An image of a mining site with operations ongoing from the top view

Phase 2 Scoping Study

This study confirmed the chances of a commercially strong mining operation. It also de-risked the Estelle Gold Project. The scoping study reported

• Internal Rate of Return (IRR) of 53%
• Net Present Value (NPV5%) of US$654M
• Fast capital payback period of just 11 months

The scoping student doesn’t just bring home confidence in the project’s viability. It also acts as a complete roadmap for the next phases in development. Namely, Nova Minerals’ (ASX: NVA) announcement of stibnite being discovered by the team.

What is stibnite? It is the primary ore source of antimony. It is related to gold systems across the project site. This is a big deal because antimony is listed as a vital mineral for the economic and national security of the USA. Right now, it has no current domestic supply.

To further assess the potential of this discovery, Nova has appointed a reputable national consulting group and assembled an influential internal team. The goal is to access potential US federal grants and funding. It will help the team investigate and move forward the discovery across the entire supply chain.

Strategic Review and Future Plans

The strategic assessment that was started as a part of Nova's ongoing Pre-Feasibility Study (PFS) level studies demonstrates the company's forward-thinking attitude. In keeping with its goal of creating a "right size" beginning operation, Nova has appointed top mining engineers.

It has also brought in Rough Stock Mining Services in Alaska and METS Engineering in Australia. The objectives are to minimize capital costs, determine a steady-state mine plan, and provide explicit strategies for expansion.

CEO Mr. Christopher Gerteisen views the Estelle Gold Project as a unique opportunity that will help capitalize further. All results will be incorporated into a PFS updated resource estimate. It has the potential to give stakeholders an insider’s take on the scope of the project.

Conclusion

It is impressive to note Nova Minerals Limited's (ASX: NVA) progress at the Estelle Gold Project in Alaska. The culmination of these exceptional results positions Nova for a promising 2024.

Investors and stakeholders alike can anticipate further positive developments as Nova Minerals (ASX: NVA) propels the project towards production. This will help in further solidifying its position in the gold and lithium mining sector in North America.