Nova Minerals Limited Stock Market Press Releases and Company Profile
High Grade Gold Rock Samples Unlocks Further Targets
High Grade Gold Rock Samples Unlocks Further Targets

Melbourne, Aug 26, 2020 AEST (ABN Newswire) - Nova Minerals Limited (googlechartASX:NVA) (googlechartQM3:FRA) (googlechartNVAAF:OTCMKTS) is pleased to provide an update on its field activities, within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.

Reconnaissance field activity sampled on the Cathedral target just south of the Korbel blocks (Figure 1 and 2*). Sampling focused on the quartz-arsenopyrite veining what are present in the outcrops within the target area. Spectacular high-grade gold values of 2.97 g/t to 114 g/t Au were returned from the samples taken (Photos 1 and 2*). These high-grade grab samples further confirm the correlation between gold and arsenopyrite within the district and elevates the Cathedral target to one of Nova Mineral's highest priority drilling targets for the 2021 drilling campaign.

Given this confirmation, arsenopyrite is strongly associated with gold, the Company is now "fast-tracking" the Sensor Based Ore-Sorting Scoping Study being led by Brent Hilscher (P.Eng) of ABH Engineering Inc.

The objective of the Scoping Study is to confirm Ore-Sorting economic potential and define a predictive algorithm. If positive results are obtained, then a second phase of Ore-Sorting will be undertaken to confirm economic benefits to a feasibility confidence level using larger sample sizes and multiple zones. All data and findings will be used in future feasibility work. Sample collection for the ore sorting studies commenced this week.

NVA CEO, Mr. Christopher Gerteisen commented:
"These spectacular grades obtained from Cathedral alongside the encouraging drill results from the Resource Drilling at Korbel's Blocks A and B plus other known targets within Estelle, such as RPM and Shoeshine, are leading the Company to continue to advance plans to unlock a district containing multiple large scale gold deposits.

We are now "fast tracking" the Ore-Sorting Scoping study as we see a clear correlation between arsenopyrite bearing veins and high - grade gold values. We are encouraged that we will be able to use ore-sorting techniques to separate out higher-grade material, thereby decreasing the capex and opex of the future operations.

In time, we expect to define multiple new shallow gold resources that will further support our goal of building a centralised mill and heap leach facility as we continue on our path towards gold production.

Furthermore, we currently have a number of holes pending that we will incorporate into the resource update which is now scheduled for mid-September with these additional 4 holes."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2A8X6VIX


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.

https://twitter.com/novaminerals https://www.linkedin.com/company/nova-minerals-limited abnnewswire.com 


Contact

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



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 6) (Last 30 Days: 37) (Since Published: 3147)