Estelle is very prospective for large areas of mineralisation. The precise reason Teck Resources ( MCAP CAD $11.144B ) were so interested and entered into a JV with Millrock.
https://www.teck.com/
Teck was paying for the exploration and it was going well but were bleeding cash from some of their operations. They slashed their worldwide exploration budget over 50%. Millrock couldn’t afford all the payments across numerous exploration areas, tenement holdings were progressively reduced but camp maintained as long as they could ( under agreement with Teck ). Then they ( stupidly ) let everything lapse in 2015.
NVA very fortunate to pick up the lapsed claims.
Other areas of Estelle highly prospective for large deposits. Shoeshine, Train and Shadow in particular. This image is an early one before drilling was done by Millrock but doesn’t show shadow. Note clusters of higher grade surface samples.
They are focused on Oxide prospects because that’s where most of the historic drilling has occurred.
It’s big, broad, deep mineralisation they are looking for. Basically for large scale bulk mining processed very economically using cold climate heap leaching.
Can essentially assume prospective for multiple deposits 1-2 Moz pa and greater. Historic data is promising.
Ann: Quarterly Activities and Cashflow Report, page-18
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