Nova Minerals Limited Stock Market Press Releases and Company Profile
Quarterly Activity report - 30 June 2020
Quarterly Activity report - 30 June 2020

Melbourne, July 16, 2020 AEST (ABN Newswire) - Nova Minerals Limited (googlechartASX:NVA) (googlechartQM3:FRA) (googlechartNVAAF:OTCMKTS) continued its fast-track exploration strategy at the district scale Estelle Gold Project in Alaska, achieving a significant milestone with the release of a JORC compliant 2.5Moz maiden inferred resource at its oxide Korbel prospect in the September quarter (ASX 11 September 2019) to outline the size and scope of the project area.

There are two diamond drills rig now turning on Pad 3, aka the Block 2 "starter pit" area of the Korbel Deposit. The objective for 2020 is unchanged and remains to significantly increase the current 2.5Moz resource in both size and confidence. Most importantly, the 2.5Moz Inferred Resource was achieved using an average drill depth of less than 100m. Induced Polarisation chargeability results show that the mineralization is present to at least 300m below surface and remains open. The current program will test down to 500m below the surface, which is 5 times the current depth of the existing Resource area. To date, all holes have returned Continuous Gold Mineralisation from Surface exceeding the company's expectation. These results continue to support the potential for a massive, bulk-tonnage, heap leachable resource. We are sitting on a great sea of mineralization at Korbel with no end in sight.

To view the Quarterly Report, please visit:
https://abnnewswire.net/lnk/WSNQ32L0


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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