RPM Expands the Resource Drilling Footprint for 2021
Melbourne, Oct 22, 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.
Estelle continues to grow into a gold district with an expanded drill-ready targets now identified at RPM.
- Sampling of high-grade reconnaissance rock chips, define expanded footprint of high priority targets within the RPM Prospect
o Rock samples returned high-grade gold results:
291 g/t, 103 g/t, 13.1 g/t, 9.3 g/t, 9.0 g/t, 8.8 g/t and 5 g/t
o 2012 diamond drill hole SE12-008:
178m @ 0.8g/t incl. 120m @ 1.0g/t and 50m @ 1.8g/t at RPM (ASX 17 September 2019)
- Significant pipeline of Tier 1 assets now emerging within the Estelle project area
- Future opportunity to unlock yet another large tonnage Block outside the current Resource Drilling at Korbel Main (Blocks A and B) and Korbel Blocks C, D, Isabella and Cathedral
- Drilling is ongoing at the Korbel Main south east feeder extension (Pad 6) and Blocks C and D
- Drill results for Korbel Main are forthcoming
NVA CEO, Mr. Christopher Gerteisen commented:
"These spectacular grades obtained from RPM alongside the encouraging drill result that was re-sampled from the 2012 diamond drill hole SE12-008 (ASX 17 September 2019) opens up another Estelle target which we anticipate to drill in 2021, in line with our plans to unlock a district containing multiple, large-scale gold deposits. Nova commenced its IRGS exploration in 2018, is now funded and has a highly qualified local exploration team. RPM is presenting surface features indicative of a much larger footprint for resource delineation than first thought. The team is confident in growing the pipeline of Tier 1 assets within the project area. The commencement of drilling at RPM is scheduled for 2021 and marks the start of Nova's next growth phase for the benefit of all stakeholders. 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."
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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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