Exceptional High-Grade Gold Continues at RPM North
Exceptional High-Grade Gold Continues at RPM North

Melbourne, Aug 8, 2022 AEST (ABN Newswire) - Nova Minerals Limited (ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to again announce bonanza grade gold results at the RPM North Deposit, within the Company's flagship Estelle Gold Project, located in the prolific Tintina Gold Belt in Alaska.

Highlights

- Exceptional high-grade gold intersections continue at RPM North and mineralization remains open. Significant results include:

o RPM-008
- 140m @ 6.5 g/t Au from 44m including;
- 87m @ 10.1 g/t Au
- 56m @ 15.0 g/t Au
- 24m @ 24.7 g/t Au

o RPM-010
- 155m @ 2.4 g/t Au from 16m including;
- 94m @ 3.8 g/t Au
- 61m @ 5.6 g/t Au
- 30m @ 10.0 g/t Au

- Holes are from infill drilling at RPM North with drilling ongoing

- Infill and step-out drilling continues to prove up the high grade (+2g/t) material within the existing 1.5Mozs @ 2.0g/t Inferred resource (ASX Announcement: 27 October 2021) to Indicated at the RPM North Deposit, to be incorporated into the Phase 2 Scoping Study.

- Drilling continues to test the RPM South zone

- Drilling is ongoing at RPM, with further drill results to be reported as assay results become available from the laboratory

Nova CEO, Mr Christopher Gerteisen commented: "The RPM Deposit continues to deliver more thick intercepts of exceptionally high-grade gold. These latest assay results confirm continuity and validates broad shallow zones of particularly high-grade gold mineralization from surface within the much larger and broader RPM gold system.

We will report further drill results as they are received from the lab for the ongoing 2022 Estelle Gold Project drilling programs and remain on track to deliver the Phase 2 Scoping Study in the near term, before moving into the PFS which aims to increase the gold production schedule and NPV significantly, as we continue on our path towards commercial production."

RPM Drilling Summary

Infill and extensional resource drilling at RPM is currently ongoing with two rigs at RPM North and one rig at RPM South. The latest results at RPM continue to prove up areas of high-grade gold mineralization (+2g/t) within the existing RPM North resource area.

Drillholes RPM-008 and RPM-010 were completed to infill and test the continuity of high-grade mineralization around hole RPM-005 to prove up the resource within the RPM North Deposit to the higher confidence Indicated category. Results from both RPM-008 and RPM-010 support previous results from RPM-005 (ASX Announcement: 11 October 2021 - 132m @ 10.1 g/t Au) which confirms continuity of the high-grade gold zone from surface to a depth of over 250m tested thus far, and remains open at depth (Figure 1*). Visible gold was also observed in drill core from RPM-008 as previously reported (ASX Announcement: 28 June 2022). The ongoing drilling program continues to provide high quality geological data that is being collated and interpreted to provide greater deposit knowledge. The nature and geometry of the intrusive units and interplay with structures are key to controls on gold mineralization. These geological and interpretative insights are invaluable in developing further targets for the ongoing exploration programs within the RPM area as well as the greater Estelle Gold Trend.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7BHATPX6


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.

   


Contact

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



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