Scale of Korbel Grows at Block D Estelle Gold Project
Melbourne, Oct 9, 2020 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on its current drilling and assays for the Korbel prospect (table 1*), within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
- Encouraging Mineralisation opens up a new area at Block D within the Korbel Prospect (Assays Pending)
- Drilling at Block D has commenced and is encountering Arsenopyrite-Quartz veining
- Results due for the remainder of Block B and Block A with 100% of the initial drilling program (48 holes total) now complete
- Hole KBDH-022 from Pad 2 demonstrates the continuity of mineralisation from Block B into Block A
- Broad diamond drilling gold intercepts at Korbel Block A include:
o 250m @ 0.4 g/t incl. 52m @ 0.5 g/t, and 46 @ 0.5 g/t in KBDH-020
o 149m @ 0.4 g/t incl. 24m @ 1.0 g/t, 9m @ 1.8 g/t and 3m @ 3.7 g/t in KDBH-022
- Mineralization extends southeast of Block B outside of the current 3.3Moz resource model
- Footprint for Blocks A and B extends over 1500m of strike length
o There exists immediate potential to significantly grow the deposit
o Some holes end in mineralisation and others have further depth potential.
- Results for a further 30 drill holes in Korbel Blocks A and B were submitted to the lab and are now forthcoming
- Diamond Drill rig is mobilizing to Pad 6 and will commence drilling on the southeast high-grade extensions of Block B
- Diamond and RC drilling continue unabated with plans to increase from the initial 25,000m to 40,000m for 2020 and up to 80,000m for 2021
- Ore Sorting test work is pending and Preliminary Economic Assessment (PEA) study has commenced
NVA CEO, Mr. Christopher Gerteisen commented: "The Korbel deposit continues to grow as we now unlock Block D and C with our expanded drilling program as we seek to find further feeder systems within the Korbel prospect. We have extended drilling on Block A laterally and to depth. Mineralisation remains open in all directions with limits yet to be defined.
As we have repeatedly stated, our next corporate goal was to add significant tonnes and ounces in this current drill program and we strongly believe this will be achieved and eclipsed during the rest of 2020 and into 2021.
The initial 25,000m drill program is now complete. Drilling continues with one diamond drill rig now moving to Pad 6 to test the high-grade zone southeast extension of Block B. In addition, the second rig is drilling at Pad 8 on Block D. We are also drill-testing Block C with the RC rig."
To view tables and figures, please visit:
https://abnnewswire.net/lnk/9KGUCRN7
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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