Drilling Confirms Significant Extension at Korbel Main
Melbourne, Nov 26, 2020 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on newly defined mineralized extensions at the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Assay results confirm a wide swathe of continuous gold mineralisation South-East of the current 3.3Moz resource at the Korbel Main Deposit.
South-East extension significantly increases the Korbel deposit footprint by >30%
Large volume of mineralisation from surface to depths of 500m
Hole KBDH-025 terminated in 1.2 g/t gold at 594m clipping the high-grade South-East extension zone currently being directly targeted by Pad 6 drill holes.
Diamond drill hole intercepts in KBDH-025 at Korbel include (Table 1*):
o 586m @ 0.3 g/t Au from 7m in KBDH-025
o 336m @ 0.4 g/t Au from 258m in KBDH-025
o 128m @ 0.5 g/t Au from 363m in KBDH-025
o 27m @ 0.6 g/t Au from 261m in KBDH-025
o 46m @ 0.6 g/t Au from 362m in KBDH-025
o 3m @ 1.2 g/t Au from 591m in KBDH-025 (EOH)
Over 15,000m of drill samples have been submitted to ALS in Fairbanks and continue to stream in as drilling continues unabated
Drilling and IP Chargeability anomalies demonstrate the mineralization footprint extends over 2,000m from the South-East Extension to the Northwest Isabella target.
Pad 6 South-East extension drilling is nearing completion with first batch of core en route to ALS in Fairbanks Alaska
Diamond drilling to continue unabated
Results of the diamond drilling program continues to expand the Korbel Main resource area, confirming that the mineralisation extends by over 2,000m from the North-West to the South-East, and to depths of 500m.
NVA CEO, Mr. Christopher Gerteisen commented: "This is the most important drill hole to date and confirms the substantial extension of the footprint to the South-East. The rocks we are seeing from the Pad 6 drillhole's intersection within this South East extension feeder zone are some of the most spectacular we have seen to date. It is very encouraging to see such strong and wide gold intersections extending beyond the current 3.3Moz resource block. This further enhances the possibility of adding greatly to the resource inventory at Korbel Main at the time of the next resource upgrade in 2021.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/73ZRF259
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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