Korbel Main drill results establish high-grade domains
New High Grade Gold Domains Within Korbel
New results confirm high-grade gold domains at Korbel Main where they remain open along strike
Focused exploration on Pad 6 continues in the high-grade zone South-East and potentially expands South-West
Diamond drill hole intercepts at Korbel include (Table 1*):
- 420m @ 0.4 g/t Au from 27m KBDH-005
- 341m @ 0.5 g/t Au from 27m KBDH-005
- 174m @ 0.6 g/t Au from 157m in KBDH-005
- 147m @ 0.6 g/t Au from 218m in KBDH-005
- 21m @ 1.5 g/t Au from 255m in KBDH-005
- 14m @ 1.1 g/t Au from 305m in KBDH-005
- 549m @ 0.3 g/t Au from 3m in KBDH-024
- 339m @ 0.4 g/t Au from 3m in KBDH-024
- 97 m @ 0.8 g/t Au from 171m in KBDH-024
- 15 m @ 2.3 g/t Au from 180m in KBDH-024
- 6m @ 4.7 g/t Au from 189m in KBDH-024
- 3m @ 8.2 g/t Au from 192m in KBDH-024
Over 15,000m of drill samples have been submitted to ALS in Fairbanks Diamond drilling to continue unabated with over 25,000m completed to date and up to 80,000m planned for 2021
NVA CEO, Mr. Christopher Gerteisen commented: "The mineralisation within the Korbel Main footprint is particularly encouraging as the drilling has now demonstrated several well-defined mineralised domains that will be incorporated into the optimised pit model as we progress through the economic assessment.
Drilling continues unabated with one diamond drill rig at Pad 6 testing the newly defined South-East extension of Korbel Main which is contiguous to the same higher grade mineralised zone through Korbel Main. With 15,000m of drill sample results now due to come in over the short term, we look forward to updating our resource in 2021.
Nova is an ideal position to achieve our goal of progressing Korbel Main to production whilst concurrently unlocking the Estelle gold district. By implementing our dual exploration and development strategy, we will seek to maximise our ability to create value for shareholders through both resource growth and project development."
*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