Nova Minerals Uncovers Significant Gold Anomaly at Portage Pass Near Korbel

Broad Gold Anomaly Emerges at Portage Pass

Nova Minerals (ASX:NVA) has revealed a compelling new gold anomaly at Portage Pass, part of its flagship Estelle Gold and Critical Minerals Project in Alaska. The 2025 surface sampling program identified a broad zone of gold mineralisation just 2.5 kilometres from the established multi-million ounce Korbel deposit, with assays indicating higher and more consistent grades than Korbel itself.

The anomaly is underpinned by seven rock samples grading above 2 g/t Au, including a standout 14.3 g/t Au assay, alongside ten soil samples exceeding 0.5 g/t Au, peaking at 1.8 g/t. These results were collected from ridgelines overlooking the Portage Creek valley floor, suggesting a valley-scale extension of mineralisation analogous to the exploration pathway that led to Korbel’s discovery.

Geochemical Signature and Exploration Pathway

Nova’s General Manager and geologist Hans Hoffman highlighted the significance of the findings, noting the proximity to Korbel and existing infrastructure adds to Portage Pass’s appeal. The geochemical signature closely matches the Korbel deposit across the ridge but appears more consistent and higher grade, reinforcing the potential for a sizeable gold-copper system.

The 2025 program covered over 75 line kilometres with 430 soil and 170 rock samples across the Estelle district. This announcement follows Nova’s recent identification of high-grade gold anomalies at RPM, where rock samples reached up to 24.6 g/t Au, setting up a busy exploration agenda for 2026. The company’s approach at Portage Pass will replicate the successful Korbel exploration method, starting with detailed soil sampling grids and followed by ground-based induced polarization (IP) geophysical surveys.

These developments come on the heels of Nova’s strategic moves, including its boosted warrant exchange ratio to facilitate its US redomiciliation, underscoring the company’s momentum in advancing Estelle’s potential.

Next Steps and Project Outlook

Looking ahead, Nova plans a comprehensive 2026 soil sampling program to refine the anomaly’s footprint, with the potential for IP surveys to delineate drill targets. The company is also progressing metallurgical and environmental test work, alongside updates on its Preliminary Feasibility Study (PFS) and access road developments.

While the surface sampling results are promising, they remain an early step in exploration. The true extent and economic viability of the Portage Pass mineralisation require drilling confirmation and further technical evaluation. Still, the discovery adds a new dimension to Estelle’s district-scale potential, complementing existing resources and recent high-grade zones at RPM and West Wing.