Nova Minerals Ltd (ASX:NVA) Half Year Accounts

Nova Minerals Ltd (ASX:NVA) (FRA:QM3) (OTCMKTS:QTRPF) provide the Interim Financial Report for the half year ended 31 December 2019.

HIGHLIGHTS

- 2.5 Million Ounce Maiden Gold Resource at Estelle

- Discovery of High-Grade Bulk Starter Pit at Estelle Gold

- Phase one Leach studies demonstrates Exceptional Gold Leach Recoveries Averaging 76% at the Korbel Deposit

- Continued Exploration Success with priority targets set on the Estelle Gold Property

- Drilling Program Plan Complete - Estelle Snow Road Construction Begins for 2020 drill programme

- Camp site procurement and staged for freighting to project site.

- Nova expands Estelle Gold Project area by 86% and Critical path to major milestones confirmed

- Snow Lake Signs Major MOU to Fast Track Lithium Development

- Logistics Assessment for majority-owned lithium project

- Nova Divests Interests in HPA Project

KEY UPDATES

- Successfully completed a scaled back share placement to several Institutional and Sophisticated investors raising $4.3 million, before costs

- Drilling contract awarded to Tier One Company Ruen Drilling Inc., mobilization of rigs underway.

- Nova Earns 70% interest in the Estelle Gold Camp through stage 3 expenditure

- Agreement now significantly escalates Nova's position to continue fast track development to earn 85% ownership over the very near term

- Ore Sorting Consultant Engaged to Accelerate Development at the Estelle Gold District o Drill Permits Received for the Estelle Gold Camp

- Drilling Program Commenced at the Estelle Gold Camp

- Desktop Analysis Significantly Increases the Korbel Prospect Potential within the Estelle Gold Camp

- Appointment of Chief Executive Officer

To view the report, please visit:
https://abnnewswire.net/lnk/9274O1HJ


About Nova Minerals Limited

Nova Minerals Limited's (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) vision is to develop North America's next major gold trend. The company is focused on exploration in Alaska's prolific Tintina Gold Belt, a province which hosts a 220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including Victoria Gold's Eagle Mine and Kinross Gold Corporation's Fort Knox Gold Mine. The company's flagship Estelle Project has a current total estimated JORC gold resource of 9.6Moz (3Moz Indicated and 6.6Moz Inferred). Estelle is a 45km long string of 15 identified gold prospects bracketed by the Korbel deposit in the north and the RPM deposit in the south. These two deposits are currently host to extensive exploration programs.

Additionally, Nova has an indirect interest in the Canadian Thompson Brothers Lithium Project through a substantial stake in Snow Lake Resources Ltd (NASDAQ:LITM) and holds a 12.99% interest in Torian Resources Limited (ASX:TNR), a gold exploration company based in Western Australia.

   

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