Nova Minerals(ASX: NVA, OTCQB: NVAAF) is Unlocking a District in Alaska
Nova Minerals (ASX: NVA, OTCQB: NVAAF) is delivering one of the most exciting gold discoveries in North America. The company has been able to demonstrate that the Estelle Gold District is just getting going, and further exploration can deliver significant resource expansion. The 324km sq. claim block consists of 507 state claims and is not on Native Corp. Title.
Currently, Nova Minerals (ASX: NVA, OTCQB: NVAAF) Korbel Main Deposit has an inferred resource of 4.7Moz and remains open at depth. At RPM North, an initial 1.5Moz @ 2 grams per tonne gold inferred resource has been outlined, for a total global resource of 6.2Moz this project sits within one of the most historic gold regions: Tintina Gold Belt – over200Moz of gold has been discovered.
“This is a transformational period for Nova – we aretruly just getting started and are excited with what lies ahead for our shareholders,” Mr Gerteisen CEO Nova
Nova Minerals (ASX: NVA, OTCQB: NVAAF) is also the majority 74% holder of Snow Lake Resources which owns the Thompson Brothers Lithium Project, which is an exciting spodumene lithium deposit located in Manitoba, Canada. Nova Minerals (ASX: NVA, OTCQB: NVAAF) plans to list Snow Lake Resources on the NASDAQ, raising $20M in conjunction with the listing, putting a $120M valuation on the company.
As well, Nova holds a 11.65% interest in Torian Resources Limited (ASX:TNR), a gold exploration company based in Western Australia
Nova Minerals (ASX: NVA, OTCQB: NVAAF) is sitting on a unique opportunity, while the current Korbel Main resource stands at 4.7Moz Au and RPM North hosts 1.5Moz @ 2 grams per tonne gold inferred resource, the entire district shows massive exploration potential. At RPM, a newly discovered mineralized zone, Nova Minerals (ASX: NVA, OTCQB:NVAAF) has intercepted some of the best intercepts any junior has reported this year. The company hit large Bonanza Grades of:
- 132m @ 10.1 g/t gold
- The broader zone intersected 400m @ 3.5 g/t gold
Nova Minerals (ASX: NVA, OTCQB: NVAAF) now has a strategy of unlocking the entire Estelle Gold District, with 15 priority targets outlined.
Exploration mapping and sampling campaign confirms another large Intrusive Related Gold System (IRGS) exposed at surface with ~1km strike, 500m wide at Train and ~1km long at Shoeshine Prospects. Similar style of mineralization was also observed at nearby Shadow and Discovery interpreted to be part of the same mineralized system.
Within The Tintina Gold Belt, there has been several discoveries made, with mines currently in production.
The Fort Knox Mine (all information based off Kinross’ website) produced 237,925 ounces of Au at a AISC. Of US $1,054/oz. in 2020. Fort Knox Mineral Resource Estimate Effective December 31, 2017 was 117mt at 0.33g/t for 1.3Moz Au in the M&I categories and is currently being operated by Kinross (TSX: K NYSE: KGC). 2019 marked over 20 years into the mine with 8 million ounces of gold poured, and currently has 9 years left of production (2030).
Fort Knox is one of Kinross’ largest producing mine and is one of the few cold weather heap leach facilities in the world. During 2020, Fort Knox had 687 employees and paid $109.2M in wages and benefits. Fort Knox is a significant contributor to the economy of Interior Alaska and the Fairbanks North Star Borough (FNSB), representing approximately 6% of the FNSB economy ($5.2 billion in 2019).
Kinross (TSX: K NYSE: KGC) is focused on developing their Alaska pipeline, as the company continues to develop other assets in the region. Kinross (TSX: K NYSE: KGC) currently owns 70% of the Manh Choh project which currently has resources of: measured and indicated 846,000 ounces of gold; Inferred 81,000 ounces of gold.
Kinross (TSX: K NYSE: KGC) is trading at $7.44 and has 1.26B shares outstanding, giving it a market cap of $9.37B.
FUTURE OF NOVA MINERALS (ASX: NVA. OTCQB: NVAAF)
In 2 years, Nova Minerals (ASX: NVA. OTCQB: NVAAF) has been able to identify a global resource of 6.2Moz and growing, 4.7Moz gold resource at Korbel Main and an initial 1.5Moz @ 2 grams per tonne gold resource at RPM North with both prospects remaining wide open. The RPM South prospect, just a few hundred meters from RPM North shows a much larger footprint identified through early ground exploration than RPM North which is yet to be drilled. The company is set to aggressively drill across the district, as Korbel main and RPM are just 2 of 15 targets.
The company is run by a team of extraordinary successful executives and management who project generated, have been a part of many large discoveries and brought mines online from discovery through production:
Christopher Gerteisen Executive Director & CEO
Mr. Christopher Gerteisen as General Manager controls all aspects of the Estelle Gold project while implementing efficiencies and savings to keep cost per discovery ounce well below industry average. Mr Gerteisen has over 20 years of experience as a professional geologist with an extensive record of managing and advancing complex and challenging resource projects across North America, Australia, and Asia.
His work experience spans Greenfields from discovery through to production stage and other projects with a focus on commodities including gold and copper. He worked as a geologist on the Carlin Trend in Nevada and on exploration in Alaska with Newmont. He has held senior positions within several projects throughout the goldfields of Western Australia.
As a research geologist with Newmont he worked on the Batu Hijau Porhryry Cu-Au deposit in Indonesia. Most recently, through his technical contributions and management skills, Mr. Gerteisen played a significant role in the successful start-up, operations, and exploration which resulted in further mine-life extending discoveries at several prominent projects in the Australasian region, including Oxiana’s Sepon and PanAust’s Phu Bia in Laos. Mr. Gerteisen holds a Bachelor of Geology from the University of Idaho and a Masters Degree in Economic Geology from the Western Australia School of Mines. He is a dual USA and Australia Citizen based in Alaska and a member of the Australian Institute of Geoscientists.
David Hersham Non–Executive Chairman
David Hersham was born in the UK and educated at Oxford University. He is an established corporate manager and entrepreneur with a successful history of developing and transforming small-cap companies, particularly in the international real estate and technology sectors. He started his career with diamond miner De Beers.
Louie Simens-Executive Director
Louie Simens has been an Executive Director of Nova since 2017. Mr. Simens is responsible for managing the company’s core business operations which requires oversight of company-wide operational efficiencies and working with management and the board to review and implement strategic plans to facilitate growth.
He has extensive experience in capital markets and running businesses, as well as in corporate restructuring, due diligence and mergers & acquisitions, where he utilizes his knowledge of corporate governance and project management. Mr. Simens has a successful track record spanning more than a decade, owning and operating contracting businesses in the fields of both civil and building construction. Mr. Simens is currently director of his family construction group. Mr Simens has been a Director of Snow Lake Resources Ltd since November 2018 and was appointed the company’s Non-Executive Chairman in December 2020. He has also served as Non-Executive Chairman of Torian Resources Ltd, and during his time at Torian, Mr. Simens was instrumental in the company’s recapitalization and turnaround.
Colin Belshaw Non–Executive Director
Colin Belshaw studied mining engineering at the Camborne School of Mines in Cornwall, UK, graduating in 1979 with the Dip.CSM (First Class). Colin is a Fellow of the Institute of Materials Minerals and Mining (FIMMM), he is registered as an Incorporated Engineer (IEng) with the Engineering Council of the UK, and holds the Mine Managers Certificate (Ghana). Colin’s formative years were spent on the Zambian Copperbelt at the Nkana Division and at the South Crofty Mine in Cornwall, and subsequently held senior operating and corporate positions worldwide, including: Navan Mining’s Director of Operations, Bulgaria and Spain; Managing Director of Kinross Gold’s Russian subsidiary, Omolon Gold, Magadan region; Kinross Gold’s Group Consulting Mining Engineer, Nevada, USA; Vice President Operations with Golden Star Resources, Ghana; Chief Operating Officer with Banro Corporation in the DRC; and Non-Executive Director of Highland Gold, where he was Chairman of the HSE Committee and sat on the Remuneration Committee. Colin joined Nova Minerals’ Board of Directors in December 2020.
Avi Geller Non–Executive Director
Avi Geller has extensive investment experience and a deep knowledge of corporate finance, including capital markets, venture capital, hybrid, debt and private equity. He served as Chief Investment Officer of Leonite Capital, a family office he co-founded focusing on real estate and capital markets. Mr. Geller also serves as a director of the real estate company Parkit Enterprise Inc (TSX-V: PKT | OTCQX: PKTEF) and the events and technology company Dealflow Financial Products. He previously served as chairman of Axios Mobile Assets.
Dale Schultz-Chief Geologist
Dale Schultz has over 30 years of experience in the mining and exploration industry in North and South America. He has a M.Sc. from the University of Saskatchewan and is a registered Professional Geoscientist in the provinces of Manitoba and Saskatchewan. Over the years, Mr. Schultz has been the Qualified Person (QP) for a number of projects including Solex Resources’ Pilunani and Macusani projects in Peru, Channel Resources’ El Mozo project in Central Ecuador, Aurelians’ Bonza-Penus resource campaign on the Condor Project in Central Ecuador, Majescors’ Douvray porphyry copper-gold project in Haiti, and spent time at Battle Mountains’ Kori Kollo mine in Bolivia. Mr. Schultz has also extensive experience in a number of other gold mining operations in Canada, and brings with him invaluable experience ranging from initial exploration stages through to underground and open pit mine production of large gold systems.
Currently, Nova Minerals (ASX: NVA. OTCQB: NVAAF) is trading at A$0.15 and has 1.8B shares outstanding, giving it a market cap of A$270M. The average daily volume is 7.4M shares, but on October 11/21 over 100M shares traded when the company announced Bonanza grades at RPM North (132m @ 10.1 g/t gold, the broader zone intersected 400m @ 3.5 g/t gold).
Nova Minerals (ASX: NVA. OTCQB: NVAAF) currently has assays pending for over 10,000 metres of drilling at Korbel Main. The company will have multiple diamond drill rigs on RPM in the new year.
The company will also move forward in de-risking Korbel Main, by updating the resource in Q4 of this year and completing metallurgical and environment studies. Investors should be excited for the future of Nova (ASX: NVA. OTCQB: NVAAF), as management is laser focused on delivering the next major discovery in Alaska after the Donlin Gold mine owned by NovaGold (TSX:NG NYSE:NG) with a market cap of over $3B.
Nova Minerals is fast unlocking the Estelle gold district and rapidly expanding its global 6.2Moz global resource with more upgrades to come Q4 this year, de-risking its projects but has serious upside in share price appreciation relative to peers in the region.
Disclaimer: Nova Minerals is a paid marketing client*