Anova Metals bounces Big Springs maiden Resource

THE BOURSE WHISPERER: Anova Metals (ASX: AWV) has calculated a maiden JORC Mineral Resource estimate for the company’s Big Springs gold deposit.

Big Springs is a Carlin-style gold deposit located in north eastern Nevada, in the United States of America.

 

Big Springs project location in Nevada, USA. Source: Company announcement

 

The Inferred Mineral Resource estimate comprises a total resource of 14.8 million tonnes at 2 grams per tonne gold.

Anova indicated increasing the cut-off grade to 2.5g/t gold results in a high grade core to the deposit of 2.9 million tonnes of 4.2g/t gold for 388,000 ounces.

Anova said the Mineral Resource estimate will be used as the basis for a gold production scoping study to commence shortly.

“This maiden JORC Mineral Resource estimate confirms the size and quality of our 100 per cent-owned Big Springs gold project,” Anova Metals managing director Tim Dobson said in the company’s announcement to the Australian Securities Exchange.

“It paves the way for the assessment of both open cut and underground mining options from surface in line with our intention to bring this low risk project into gold production as soon as practicable.”