Nova Minerals Limited Stock Market Press Releases and Company Profile
Continuous Gold Mineralisation from Surface at Korbel
Continuous Gold Mineralisation from Surface at Korbel

Melbourne, July 15, 2020 AEST (ABN Newswire) - The Directors of Nova Minerals Limited (googlechartASX:NVA) (googlechartQM3:FRA) (googlechartNVAAF:OTCMKTS) are pleased to provide an update on the drilling results of Holes KBDH-003 and KBDH-004 and the progress of drilling at the Korbel prospect, within the Company's flagship Estelle Gold Project.

HIGHLIGHTS:

The Korbel Prospect has been tested with two diamond drills rigs, sixteen holes have been drilled to date on Block B Initial holes KBDH-001, KBDH-002 (ASX 22 June 2020) KBDH-003 and KBDH-004 further demonstrate continuation of mineralization at over 200 metres below the existing 2.5Moz inferred resource Impending increase to the current 2.5Moz stage 1 Mineral Resource Estimate planned for the current quarter All drill holes intersected thick zones of significant gold mineralisation above the nominal cut-off grade Exceptional gold leach recoveries averaging over 76% at the Korbel Deposit (ASX 30 December 2019) A significant increase in thickness and continuation of IRGS mineralization starting at surface.

Significant drill intercept highlights include (see Table 1):

o KBDH-003
241.28m @ 0.39 g/t gold from 4.69 metres
118.87m @ 0.42 g/t gold from 17.68 metres
6.10m @ 1.27 g/t gold from 130.45 metres
21.34m @ 0.91 g/t gold from 224.94 metres
6.10m @ 1.70 g/t gold from 224.94 metres

o KBDH-004
130.45m @ 0.61 g/t gold from 6.4 metres
106.07m @ 0.66 g/t gold from 6.4 metres
9.14m @ 2.06 g/t gold from 106.38 metres
3.05m @ 5.5 g/t gold from 109.42 metres
516.61m @ 0.28 g/t gold from 1.24 metres

Current drilling focused on Block B (Starter Pit) in Figure 1* with the goal of expanding and upgrading the Resource to expedite project feasibility studies The drilling is part of a 20,000-metre diamond core drilling exploration program to test the depth and strike extensions of the Established 2.5Moz inferred gold resource at Korbel Blocks A and B (one of fifteen known occurrences) (ASX 11 September 2019) A further 14 holes now nearing completion, on-route to lab and awaiting assay

NVA CEO, Mr. Christopher Gerteisen said: "We are pleased to report more thick drill intercepts which are an exciting and significant development in our phase 1 resource upgrade with all holes hitting extensive mineralisation. The broad mineralisation announced today is particularly encouraging, demonstrating the potential to rapidly add significant rock volume to the Korbel gold endowment. Similar potential remains at block A which the rigs will be moving over to for testing in the coming weeks.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/A61Y37AW


About Nova Minerals Limited

Nova Minerals LtdNova 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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Contact

Nova Minerals Ltd
P: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au



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