Further Indications of Higher-Grade Zones at Korbel Main
Melbourne, Feb 1, 2021 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on further drilling results at the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
- Wide near surface intersections from Pad 6 at Korbel Main South-East extends strike of already identified mineralised zone by 30%
o 174m @ 0.6 g/t (104 gram-meters) incl. 61m @ 0.9 g/t, 24m @ 1.0 g/t, 21m @ 1.2 g/t and 3m @ 4.2 g/t in KDBH-052 KBDH-052 returned an overall average grade of 0.4 g/t Au over 320m (128 gram-meters) within the Korbel intrusive.
o 256m @ 0.4 g/t (102 gram-meters) incl. 61m @ 0.8 g/t, 46m @ 0.9 g/t and 18m @ 1.0 g/t in KBDH-056
o Assays for KBDH-054, KBDH-050 from PAD6 and KBDH-021, KBDH-023 from PAD4 are now imminent
- Further higher-grade zones (1+ g/t) continuing within the structure
- PEA under preparation aiming to investigate optimal capital costs and mining and treatment alternatives at Korbel Main
- Over 16,000m of drill samples (30 holes) will be assayed during the current quarter
- Further resource upgrade due in Q2 2021 supported by assays from all holes completed by 31 December 2020 at the Korbel Main deposit (PAD1-4, and 6)
NVA CEO, Mr. Christopher Gerteisen commented:
"The South-East extension appears to be a major new gold trend extending the Korbel Main deposit by 340m in length and 400m in width, increasing the resource zone by 30% along strike, a clear demonstration of the significant size and scale of the mineralized structure which still remains wide open. In addition, all samples are now being processed by two laboratories, the results of which will be included in the resource statement due in Q2 2021.
It is very gratifying to see the extension of the mineralised system with holes consistently returning 100 gram-meter results which now all converge within the Korbel Main deposit. This success is supported by our corporate strategy focus of seeking to create value through the discovery, definition and development of world class resources in safe mining jurisdictions. Holes KBDH-052, KBDH-054 and KBDH-056 reflect excellent results from the higher-grade starter pit zone within Korbel. They not only confirm the grades of the earlier drill sections from Pad 3 and 4, but also extend the higher grades to the South-East.
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https://abnnewswire.net/lnk/1QWKI7SE
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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