Nova Minerals Limited Stock Market Press Releases and Company Profile
Quarterly Activities - Cashflow Report
Quarterly Activities - Cashflow Report

Melbourne, Jan 29, 2021 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 a "Snapshot in time" release of a JORC compliant 3.3Moz maiden inferred interim resource at its Korbel Main prospect in the September quarter.

Results of the diamond drilling program continue 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.

Field operations are ahead of schedule and on budget when it comes to variables we can control. The unforeseen bottleneck has been the assay laboratory that continues to operate under severe COVID protocols and restrictions. This being said, Nova expect results in the very near term and to further mitigate these delays, half of the samples are in a second assay lab. We expect both labs to work simultaneously, which would result in receiving our assays much faster.

Nova announced exceptional gold leach recoveries averaging 76% at the Korbel Gold Deposit (Table 1*). All initial metallurgical test-work results are consistent with Nova's expectation that supports a future low strip, bulk mining, heap leach mining operation.

To view the quarterly report, please visit:
https://abnnewswire.net/lnk/1D0Q107C


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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