Anova Metals Ltd. has announced the completion of an updated Mineral Resource Estimate at its 100%-owned Big Springs Gold Project in Elko County about 12 miles north of the Jerritt Canyon Gold Mine.
With the new MRE, total measured and indicated resources at Big Springs now stand at 555,000 ounces of gold at an average grade of 2.5 grams of gold per ton. This is a 21% increase over the site’s previous M&I resources. The higher confidence M&I resources now comprise about 55% of the total MRE at Big Springs, up from 45% for the previous MRE, which was completed in 2014.
“The independently updated Mineral Resource Estimate has confirmed we have in excess of one million ounces of contained gold at Big Springs,” Anova Managing Director Amanda Buckingham said.
“What is exciting is the sheer, relatively untapped resource growth potential that remains at Big Springs. In particular, the ability to expand our drilling activities into the large-scale southern tenement areas at Big Springs offers enormous opportunity over the coming years.
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“After several meetings with the U.S. Forest Service during the last month, we have an expanded Plan of Operation submission that addresses our exploration objectives for the next few years,” Buckingham said. “With the Phase 1 approval of this submission anticipated in time for the 2023 field season, we look forward to undertaking an initial program focused on near-mine and brownfields targets in closest proximity to our existing MRE. Subsequent Phase 2 approval should allow expansion of our drilling activities into the highly prospective Golden Dome and Jacks Creek areas, within which reside some very attractive exploration targets for priority drill testing.”
The Big Springs site had open pit mining from 1987 to 1993, with a total production of around 386,000 ounces of gold. Anova acquired the Big Springs property from Victoria Gold Corp. in 2013.
“The endowment potential of Big Springs has been severely underexplored from a modern perspective,” Anova’s website says. “In particular, the application of newer geophysical techniques over this part of the Independence Trend in Nevada has driven a sharply enhanced understanding and generated exciting new exploration targets. The methodical and data-driven approach the company has adopted holds the key to unlocking the huge, untapped potential that Big Springs offers.”
Anova also announced that Mark Connelly has been appointed as the new non-executive chairman of the company, effective Nov. 30.
Connelly’s operational and capital markets experience spans many jurisdictions including Australia, North America, South America, Africa and Europe. He spent several years in the U.S. working for Newmont Corp. Currently Connelly is the chairman of Western Australian gold producer Calidus Resources, as well as chairman of Chesser Resources and Alto Metals Ltd.
“I am very pleased that Mark will be joining the Anova team,” said Edward Rigg, Anova’s current board chairman. “Mark is a seasoned leader with extensive experience and a proven track record in advancing, developing and realizing substantial value from resource assets around the world.”
An Anova press release stated, “Following on from the May 2022 appointment of Steve McMillin as exploration manager in Nevada, this new appointment affirms Anova’s commitment to advancing the Big Springs Gold Project.”