Nova Minerals Limited (
- Work program including infrastructure now being scheduled, with Nova designating at least two rigs at RPM for the next round of drilling to expand and prove-up RPM North and the geologically interpreted, much larger RPM South zone.
- Aggressive Infill and Extension drilling are ongoing at Korbel Main with the goal of substantially increasing the 4.7Moz Resource (ASX 7 April 2021) and upgrading the resource in size and confidence to expedite Project Feasibility Studies.
- Geological reconnaissance crew completed field and unlocked further large high-grade targets within the Estelle Gold District (ASX 20 September 2021 and 23 September 2021)
- Assay results pending for over 10,000m of drilling from Korbel Main
- Snow Lake Resources moving along at a rapid pace, update now due shortly
NVA CEO, Mr. Christopher Gerteisen commented: "These latest results at RPM North further confirm the discovery of another massive Intrusive Related Gold System within the Estelle Gold Project. Nova now has two: Korbel and RPM, and we believe there are many more to come as we continue to unlock the district (ASX 20 September 2021 and 23 September 2021). The Company recently reported Bonanza Grades at RPM North Including 132m @ 10.1 g/t Au (ASX 11 October 2021). These broad zones of extremely high-grade are believed to be just a glimpse of the geological potential at RPM. The mineralization at RPM is hosted along the intrusive contact with hornfels sediment country rocks. This contact zone appears be an ideal structural corridor where the important litho geochemical reactions are focused, enabling high-grade gold deposition. It is encouraging that we can follow these intrusive contacts in mapping for quite a distance along strike at RPM North and at the RPM South zone. RPM remains wide open, and we are confident in further intersecting this high-grade zone by stepping out in a series of 200m spaced lines to the west of holes RPM-005 and 006 as a priority in the next phase of drilling.
The continuity and tenor of these drilling intersections at RPM are certainly world-class by any measure. We are now in a position to send all of the data to independent consultants to prepare our Maiden Inferred Resource for RPM north.
We are now designing the next phase of drilling programs to commence as soon as possible in 2022, where we plan to have at least 2 drill rigs at RPM to follow up the RPM North Zone and begin to target what looks to be the much larger RPM South Zone which may converge at depth.
This intrusive-hornfels contact zone seems to be a critical site for hosting super high-grade gold mineralization, so we will also be employing the same ore deposition model at the Korbel deposit which currently is hosted entirely within the intrusive, but several similar contact zone targets have already been identified and will be followed up as a matter of priority. Korbel is already a very large bulk IRGS system in its own right, so adding a few extra high-grade sweetener zones would be an added bonus in a mining scenario.
The drill program at Korbel will continue at full pace into the foreseeable future, and we look forward to bringing shareholders results as they become available. In time, we expect to define multiple new shallow gold resources that will further support our goal of aggressively growing the resource inventory as we continue to move towards gold production at the Estelle Gold Project. Remember, we are on the fast-track towards production, that is our goal. We currently have 4.7Moz at the Korbel Main deposit which is expected to grow and the RPM maiden resource is to be added in the short term, representing just the beginning of our Estelle journey with our global resource base set to increase significantly in Q4 this year."
To view drill results from all RPM drilling, please visit:
https://abnnewswire.net/lnk/R78NMIF3
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.
Contact
Nova Minerals LtdP: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au
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