Half Year Accounts
Melbourne, Mar 13, 2020 AEST (ABN Newswire) - Nova Minerals Ltd (
ASX:NVA) (QM3:FRA) (QTRPF:OTCMKTS) provide the Interim Financial Report for the half year ended 31 December 2019.
HIGHLIGHTS
- 2.5 Million Ounce Maiden Gold Resource at Estelle
- Discovery of High-Grade Bulk Starter Pit at Estelle Gold
- Phase one Leach studies demonstrates Exceptional Gold Leach Recoveries Averaging 76% at the Korbel Deposit
- Continued Exploration Success with priority targets set on the Estelle Gold Property
- Drilling Program Plan Complete - Estelle Snow Road Construction Begins for 2020 drill programme
- Camp site procurement and staged for freighting to project site.
- Nova expands Estelle Gold Project area by 86% and Critical path to major milestones confirmed
- Snow Lake Signs Major MOU to Fast Track Lithium Development
- Logistics Assessment for majority-owned lithium project
- Nova Divests Interests in HPA Project
KEY UPDATES
- Successfully completed a scaled back share placement to several Institutional and Sophisticated investors raising $4.3 million, before costs
- Drilling contract awarded to Tier One Company Ruen Drilling Inc., mobilization of rigs underway.
- Nova Earns 70% interest in the Estelle Gold Camp through stage 3 expenditure
- Agreement now significantly escalates Nova's position to continue fast track development to earn 85% ownership over the very near term
- Ore Sorting Consultant Engaged to Accelerate Development at the Estelle Gold District o Drill Permits Received for the Estelle Gold Camp
- Drilling Program Commenced at the Estelle Gold Camp
- Desktop Analysis Significantly Increases the Korbel Prospect Potential within the Estelle Gold Camp
- Appointment of Chief Executive Officer
To view the report, please visit:
https://abnnewswire.net/lnk/9274O1HJ
About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the 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, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
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