High Grade Gold Rock Samples Unlocks Further Targets
Melbourne, Aug 26, 2020 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on its field activities, within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Reconnaissance field activity sampled on the Cathedral target just south of the Korbel blocks (Figure 1 and 2*). Sampling focused on the quartz-arsenopyrite veining what are present in the outcrops within the target area. Spectacular high-grade gold values of 2.97 g/t to 114 g/t Au were returned from the samples taken (Photos 1 and 2*). These high-grade grab samples further confirm the correlation between gold and arsenopyrite within the district and elevates the Cathedral target to one of Nova Mineral's highest priority drilling targets for the 2021 drilling campaign.
Given this confirmation, arsenopyrite is strongly associated with gold, the Company is now "fast-tracking" the Sensor Based Ore-Sorting Scoping Study being led by Brent Hilscher (P.Eng) of ABH Engineering Inc.
The objective of the Scoping Study is to confirm Ore-Sorting economic potential and define a predictive algorithm. If positive results are obtained, then a second phase of Ore-Sorting will be undertaken to confirm economic benefits to a feasibility confidence level using larger sample sizes and multiple zones. All data and findings will be used in future feasibility work. Sample collection for the ore sorting studies commenced this week.
NVA CEO, Mr. Christopher Gerteisen commented:
"These spectacular grades obtained from Cathedral alongside the encouraging drill results from the Resource Drilling at Korbel's Blocks A and B plus other known targets within Estelle, such as RPM and Shoeshine, are leading the Company to continue to advance plans to unlock a district containing multiple large scale gold deposits.
We are now "fast tracking" the Ore-Sorting Scoping study as we see a clear correlation between arsenopyrite bearing veins and high - grade gold values. We are encouraged that we will be able to use ore-sorting techniques to separate out higher-grade material, thereby decreasing the capex and opex of the future operations.
In time, we expect to define multiple new shallow gold resources that will further support our goal of building a centralised mill and heap leach facility as we continue on our path towards gold production.
Furthermore, we currently have a number of holes pending that we will incorporate into the resource update which is now scheduled for mid-September with these additional 4 holes."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2A8X6VIX
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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