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London, Nov 26, 2019 AEST (ABN Newswire) - Nova Minerals is a minerals explorer and developer, listed on the ASX, focussed on district scale gold and advanced lithium projects in North America. Nova Minerals has 2 core projects: the flagship Estelle Gold Project, Alaska (poised for growth) and the Thompson Brothers Lithium-Cesium-Tantalum Project, Canada (cash flow ready). Lastly, Nova Minerals has a bonus project in the form of the Officer Hill Gold Project in Australia. All projects are in "safe, favourable jurisdictions."

Nova Minerals has had a fairly stagnant share price this year, reflective of poor lithium market performance, and unable to take full advantage of the rise in the gold price since August; Nova Minerals started the year at AUS$0.02, rode the rising gold price to a peak of AUS$0.07 in September, before falling back down to AUS$0.036 today. Nova has a market cap of AUS$33.55M.

Gerteisen states the management intends to take the project all the way, evidenced by the managements teams' large personal investments in the project. They intend to make it the "next world-class operation in Alaska."

Lithium has had poor spot price performance for the last couple of years, but Gerteisen is keen to emphasise Nova's unique position: dealing directly with a Chinese group and employing an offtake agreement helps avoid the unfavourable Western lithium markets in favour of a market where lithium is desperately needed to instigate the EV revolution and clean the incredibly polluted city air.

The Estelle Gold Project was obtained by Nova Minerals after the previous company ran into trouble courtesy of a falling zinc price. Nova Minerals began geophysics at the site in 2018. Based on their ground IP charge-ability results, they identified 4 "very strong anomalies:" Target A, B, C and D. These anomalies are consistent with historic drilling results. In June-August 2018, Nova carried out their own resource drilling programme over Target A and B. Based on these results, they defined their resource at 2.5Moz: 180M tons at 0.44g/t; this is a clear bulk play.

Nova Minerals is trying to avoid diluting as much as possible and are in conversations with potential partners across Australia and beyond. Ideally, Nova would like to obtain a strategic "cornerstone partner" in the form of a "big mining house" such as the giant Kinross Gold Corporation. Nova is confident they can operate year-round at their asset sites once the appropriate infrastructure has been put in place; one such consideration is the potential transportation of gold at the Estelle Gold site via train or truck.

Nova Minerals has a management team with vast experience in finances and construction, but there might be question marks posed regarding their experience at a mining company. However, Gerteisen is insistent Nova Minerals isn't a "lifestyle company." It is instead a "full endeavour" with an active intention to see it through to full success, "every cent" they can "put into the ground, they put into the ground."

Gerteisen concludes with Nova Mineral's USPs: a 20-30 year mine life, a district with a ubiquity of gold-filled mines, a committed management team and incredibly favourable jurisdictions.

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About Nova Minerals Limited

Nova Minerals LtdNova Minerals Limited (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) is a dynamic explorer and developer of its flagship Estelle Gold district in the Tintina gold belt. Nova's strategy is to substantially increase the current 4.7Moz resource on the Korbel prospect. Subsequently to continue to lock in value through moving Korbel towards production whilst increasing the resource base across the pipeline of targets within the Estelle gold district. Nova Minerals also holds strategic investments in Snow Lake Resources Ltd (Thompson Brothers Lithium Project), Torian Resources Ltd (ASX:TNR) and RotorX Aircraft Manufacturing Co.

   


Contact

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


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Nova Minerals Limited          

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