Nova Minerals Ltd (ASX:NVA FSE:QM3 OTCQB:NVAAF) is a mineral resource company based in Australia with a current focus on exploration and development in the Tintina Gold Province in Alaska. The Estelle Gold Project (85% NVA) shows strong similarities with adjacent high margin gold mines such as Eagle (Victoria Gold Corp. VGCX.TSX) and Fort Knox (Kinross Gold Corporation K.TSX).
The key elements of NVA strategy are as follows:
- Undertake resource drilling to increase the confidence and size of the maiden mineral resource
- Undertake multi-facet exploration to test geological models and prioritise exploration targets, then drill
- De-risk the project further through development studies
The key elements if successful are:
- Delineation of a globally significant gold deposit in excess of 5 million ounces, possibly 10 million ounces
- Demonstrate the economic viability of the project
- Mid-cap company maker and/or potential take-over
Development scenario is likely to be a bulk tonnage, low strip open pit followed by heap leaching with high margin.