Drilling Confirms Significant Extension at Korbel Main
Assay results confirm a wide swathe of continuous gold mineralisation South-East of the current 3.3Moz resource at the Korbel Main Deposit.
South-East extension significantly increases the Korbel deposit footprint by >30%
Large volume of mineralisation from surface to depths of 500m
Hole KBDH-025 terminated in 1.2 g/t gold at 594m clipping the high-grade South-East extension zone currently being directly targeted by Pad 6 drill holes.
Diamond drill hole intercepts in KBDH-025 at Korbel include (Table 1*):
o 586m @ 0.3 g/t Au from 7m in KBDH-025
o 336m @ 0.4 g/t Au from 258m in KBDH-025
o 128m @ 0.5 g/t Au from 363m in KBDH-025
o 27m @ 0.6 g/t Au from 261m in KBDH-025
o 46m @ 0.6 g/t Au from 362m in KBDH-025
o 3m @ 1.2 g/t Au from 591m in KBDH-025 (EOH)
Over 15,000m of drill samples have been submitted to ALS in Fairbanks and continue to stream in as drilling continues unabated
Drilling and IP Chargeability anomalies demonstrate the mineralization footprint extends over 2,000m from the South-East Extension to the Northwest Isabella target.
Pad 6 South-East extension drilling is nearing completion with first batch of core en route to ALS in Fairbanks Alaska
Diamond drilling to continue unabated
Results of the diamond drilling program continues to expand the Korbel Main resource area, confirming that the mineralisation extends by over 2,000m from the North-West to the South-East, and to depths of 500m.
NVA CEO, Mr. Christopher Gerteisen commented: "This is the most important drill hole to date and confirms the substantial extension of the footprint to the South-East. The rocks we are seeing from the Pad 6 drillhole's intersection within this South East extension feeder zone are some of the most spectacular we have seen to date. It is very encouraging to see such strong and wide gold intersections extending beyond the current 3.3Moz resource block. This further enhances the possibility of adding greatly to the resource inventory at Korbel Main at the time of the next resource upgrade in 2021.
*To view tables and figures, please visit:
About Nova Minerals Ltd
The company plans to create shareholder value through two-pronged strategy:
- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.
- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.
Nova Minerals Ltd