Nova Minerals disclosed that reverse‑circulation drilling conducted in 2025 at its Korbel Main Deposit has identified a near‑surface core grading up to 1.2 g/t gold, a substantial increase over the deposit’s pit‑constrained resource of 275 Mt at 0.3 g/t gold (2.70 Moz). The high‑grade intercepts are located within the first 20 m of the drill hole, indicating that the deposit contains a concentrated zone that can be exploited with a relatively small starter pit.
The company plans to construct a pilot starter pit measuring roughly 250 m by 80 m and 20 m deep. The pit will provide material for ore‑sorting trials, a technology that has previously upgraded Korbel ore from 0.4 g/t to more than 6 g/t gold. By demonstrating the effectiveness of ore sorting on a larger scale, Nova aims to reduce processing costs and improve the economics of the Estelle Project.
The Korbel Main Deposit is part of a broader 8.65 Moz gold system that includes the Cathedral Deposit, with a combined resource of 4.05 Moz. The higher‑grade near‑surface mineralisation at Korbel therefore strengthens the overall resource base and accelerates the pre‑feasibility study for the Estelle Gold and Critical Minerals Project.
CEO Christopher Gerteisen said the 2025 drilling results “highlight the potential for a pilot starter pit within Korbel Main’s 2.7 Moz bulk‑tonnage resource and demonstrate strong potential to test ore sorting on a larger scale, building on previous work where material was upgraded more than tenfold, potentially lowering processing costs and increasing gold production.” The statement underscores the company’s strategy of leveraging high‑grade near‑surface mineralisation to reduce processing costs and improve project economics.
In addition to gold, Nova Minerals is pursuing antimony production under a U.S. Department of Defense award that targets production in late 2026 or 2027. The high‑grade drilling at Korbel supports the company’s dual‑commodity strategy and positions it to meet the growing demand for domestic antimony supplies.
The announcement is part of Nova’s broader effort to de‑risk the Estelle Project, with the pilot pit and ore‑sorting trials expected to provide critical data for the upcoming pre‑feasibility study and to validate the project’s commercial viability.
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