Broad Gold Mineralisation with High Grade Zones at Korbel
Melbourne, Aug 19, 2020 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on its current drilling and assays for the Korbel prospect (table 1), within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Estelle continues to grow into a very large continuous gold system with further broad intervals at Korbel identified, where mineralisation remains open at depth and strike.
Continuity of gold mineralisation confirmed at Korbel defined by KBDH-005 to 012
Significant new diamond drilling gold intercepts at Korbel include:
- 101m @ 1.3 g/t incl. 82m @ 1.5 g/t, 30m @ 2.4 g/t, 3m @ 7.7 g/t, 6m @ 4.7 g/t and 3m @ 8.2 g/t in KDBH-012
KBDH-012 returned an overall average grade of 0.6 g/t Au over 429m from 3m within the Korbel intrusive with multiple high-grade zones
- 150m @ 0.6 g/t incl. 21m @ 1.6 g/t in KBDH-005
- 163m @ 0.6 g/t incl. 87m @ 0.7 g/t in KBDH-009
- 137m @ 0.6 g/t incl. 97m @ 0.7 g/t in KBDH-010
- South East of Block B continues to grow outside the current 2.5Moz resource model
- Gold footprint for Block A and B extends +1500m strike
o Significant growth potential remains
o Many holes end in mineralisation or have further depth potential.
o New zones discovered, particularly to the south and east
- Phase 1 Mineral Resource update on Block B due shortly
NVA CEO, Mr. Christopher Gerteisen commented: "The scale and dimensions of the near surface and continuous mineralisation at Korbel continue to impress, particularly with the high-grade pods now being identified outside the current 2.5Moz resource model as we increase the overall footprint of the system, along strike and down dip where substantial thicknesses of mineralisation remain open.
As we have repeatedly stated, our next corporate goal was to add significant ounces in this current drill program and we strongly believe this will be eclipsed during the course of this year.
Drilling is continuing with one diamond drill rig now on Block A, Pad 2, where similar potential to Block B remains. We are working to extend the resource both in strike and length; the second diamond rig is completing Pad 2 while Pad 6 is to follow on the high-grade zone to the southeast, which we have now discovered. In addition, we will be commencing RC drilling to scout targets within Korbel, testing the deposit at strike length- another encouraging step on our path towards production.
To view tables and figures, please visit:
https://abnnewswire.net/lnk/L2VUMG67
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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