Nova looking at listing options on a major
The Phase 2 Scoping Study was released during the quarter. The study, based on a mining scenario which up-fronts the higher grade at surface deposits, confirmed the potential for a commercially robust mining operation at the
o Net Present Value (NPV5%) of
o Internal Rate of Return (IRR) of 53% pre-tax
o 11-month payback period
o Undiscounted net free cashflow of
o All in Sustaining Costs (AISC) 1st year
o Pre-production capital of
o The study excludes the 2.01
o The entire project area is situated on
Importantly the scoping study sensitivity analysis showed that even a 10% increase in the LOM average mill feed grade above the current 0.73 g/t Au increases the NPV by ~
The 2023 drill program, which commenced at the end of the quarter with multiple rigs being mobilized to the RPM area (Figure 3*), has been specifically designed to grow both the size and confidence of the resource to significantly increase the LOM at the higher grade RPM deposits
The highest priority is the 600m of open prospective strike length between RPM North and RPM South, which have been shown to be geologically genetically linked (Figures 5* and 6*)
Drill program is following up on the incredible intercepts at RPM over the last two years (Figure 5*) including:
- Drill pads are also concurrently being constructed in the Train and Trumpet area with more rigs to be mobilized in the coming weeks to target another potentially very large Intrusive Related Gold System (IRGS) in that area, with the aim this year being to establish a 3rd major resource area (Korbel, RPM and Train) and 5th large gold deposit on the
- Drill program comprises of an average of 3 diamond rigs drilling upwards of 15,000m, which together with the next steps outlined below, are all designed to further enhance the results from the already robust scoping study through our ongoing work as the company progresses to PFS
- Aggressive exploration programs in 2023 to be focused proximal to the RPM area, as well as at the highly prospective 3km long polymetallic outcrop at the Stoney prospect
- Significant gold resource per share of 47 ounces per 1,000 shares owned
- Independent economic study prepared for the
Authority (AIDEA), and fully supported by the Alaska State Governor, recommends the
Snow
Snow Lake Lithium PEA to evaluate the economic viability of mining the Thompson Brothers &
Corporate
The Company is very aware of the discrepancy between Nova's current valuation and the much higher valuations its peers with similar gold assets in
*To view the full Quarterly Report, please visit:
https://abnnewswire.net/lnk/C49B7UB0
About
Additionally, Nova has an indirect interest in the
Contact:
P: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au
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