Overview

Mine Type	Open Pit
Stage	Preliminary Economic Assessment
Commodities	Gold
Mining Method	Truck & Shovel / Loader
Mine Life	...
Snapshot	Nova’s flagship Estelle Gold and Critical Minerals Project contains multiple resource centers across a 35km long mineralized corridor of over 20 identified gold prospects, including two already defined multi-million ounce resources. Scoping Study 2023 considers a development based on multiple open pit mines at the Korbel Main, RPM North and RPM South deposits feeding a Estelle central processing plant located in the Korbel Mining Complex area. Updated Mineral Resource estimation for the Estelle Project is planned in 2025.

Deposit type

• Intrusion related

Summary:

Nova Mineral is primarily exploring for Intrusion Related Gold System (IRGS) type deposit within the Estelle Gold Project.

Estelle Project includes 3 deposits - Korbel Main, RPM North, and RPM South. RPM North and RPM South deposits are within 800m of each other and are located 27km south of the Korbel Main deposit.

The Korbel Main pit is located in a valley between two mountain ridges. The topography is somewhat steep. The overburden consists of a thin layer of moraine. The RPM North pit is located partially on the side of a mountain ridge and partially in a valley. There is some overburden on parts of the deposit in the valley consisting of moraines, other parts on the ridgeline consist of bedrock outcrops. The RPM South pit is located on a mountain ridge, with mineralization outcropping on the surface with little to no overburden.

Dimensions
The Main zone domain extends over around 2.6 km of strike at an average width of around 370 m. Modelled estimates extend from near surface to around 820 m depth with around 80% from depths of less than 500 m.

The two steeply west dipping West and East mineralised domains interpreted for Cathedral are interpreted over around 780 and 420 m of strike respectively with average horizontal widths of around 340 m and 110 m. Estimates extend from surface to around 500 m depth with around 90% from less than 380 m depth.

The combined mineralised domains strike east-west over around 740 m and average around 155 m wide. Resource estimates extend from surface to around 360 m depth with around 90% from vertical depths of less than 280 m.

Mineralization on the Estelle property is hosted within veins within the plutonic suite and occasionally within the hornfelsed sedimentary rocks immediately adjacent to intrusive bodies. The sedimentary sequence hosting the plutons is generally barren. Mineralized veins in the intrusive body commonly contain quartz, tourmaline, chalcopyrite, arsenopyrite, pyrrhotite, molybdenite, stibnite, and pyrite. Gold bearing veins are most associated with arsenopyrite but, the presence of unidentified tellurides or other sulfosalts cannot be ruled out. Tellurium and bismuth are strongly associated with gold and mineralized intervals often contain consistent ratios of Bi/Au or Te/Au. A statistical review shows that the highest correlation coefficients with gold are tellurium (0.92), bismuth (0.86), arsenic (0.085) and silver (0.66). Gold mineralization does not appear to be affected by the different intrusive phases of the plutons with mineralized veins occurring in most igneous rock types to varying degrees across the property. The veins themselves crosscut the igneous body suggesting the host rock (granodiorite) was cool enough to deform brittlely at the time of mineralization. Two styles of hydrothermal alteration are recognized: 1) argillic/phyllic; and 2) propylitic. The regional alteration covers elongate zones within the granitic phases of the Mount Estelle pluton.

Mining Methods

- subscription is required.

Comminution

Crushers and Mills

- subscription is required.

Processing

- subscription is required.

Production

Operational metrics

Metrics
Annual mining capacity	....
Annual milling capacity	....
Stripping / waste ratio	....
Ore tonnes mined, LOM	....
Tonnes milled, LOM	....

Personnel

Job Title	Name	Profile	Ref. Date
.......................	.......................		Jan 14, 2025

Total Workforce	Year
......	2023