Nova Minerals Ltd (ASX:NVA) Newmont Elects to Proceed with Officer Hill Joint Venture

The directors of Nova Minerals Limited (Nova or Company) (ASX:NVA) (FRA:QM3) are pleased to advise that Newmont Tanami Pty Ltd (Newmont) (a wholly owned subsidiary of Newmont Mining Corporation) has elected to proceed with the joint venture on the Officer Hill Gold Project.

NVA's Officer Hill Project, is highly prospective for gold. The prospect is thought to host steeply plunging shoots, such as those at the Tanami Gold Mine and the apparent fold closure to the east offers the possibility of the discovery of Callie-style mineralisation at depth. The total area covered by the lease is 206.08km2. The Callie gold mine, which is, located 34km northeast of Officer Hill had, at the end of 2015, 5.6 million ounces of gold resource and produces 419,000 ounces gold per year.

Newmont has successfully completed its sole funding commitments pursuant to the terms of the Officer Hills Joint Venture Agreement. Nova retains a 30% working interest whilst Newmont to retain a 70% interest. Nova and Newmont will now form an operating committee to progress the project. The project is managed by Newmont Tanami Pty Ltd.

NVA Managing Director, Mr. Avi Kimelman said:

"The decision by Newmont to proceed with the Joint venture agreement is a ringing endorsement of the quality of the Officer Hill Gold Project and its exploration upside in the Tanami region of Northern Territory, particularly with the projects close proximity to the 400Koz per year Tanami Gold Mine and located within the ~13 million ounce Tanami endowment."

"Newmont's commitment to the joint venture brings valuable technical expertise and insights to the Project."

Nova will separately release the proposed 2018/19 Exploration programme for the Officer Hill Gold Project in due course.


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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