Gold Discovery Confirmed at RPM
Melbourne, Sep 9, 2021 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) announces that a Large Scale Gold Discovery is confirmed at RPM, within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Significant intercepts at RPM prospect validates Nova's strategy to unlock the Greater Estelle Gold District Maiden drill program at RPM returned impressive results including:
RPM-002
o 128m @ 1.0 g/t Au
o 42m @ 1.5 g/t Au
o 12m @ 2.0 g/t Au
o 6m @ 2.7 g/t Au
o 3m @ 3.0 g/t Au
o 3m @ 4.1 g/t Au
(RPM-002 returned an overall average grade of 0.6 g/t Au over 274m from surface within the RPM North mineralized zone)
RPM-001
o 37m @ 1.0 g/t Au
o 6m @ 4.2 g/t Au
o 3m @ 7.0 g/t Au
(RPM-001 returned an overall average grade of 0.3 g/t Au over 326m from surface within the RPM North mineralized zone)
- 6 holes drilled to date, with results from a further 4 holes to follow shortly.
- Historical (2012) diamond drill hole SE12-008 re-sampled returned results of (ASX 17 September 2019):
o 177m @ 0.8g/t
o incl.120m @ 1.0g/t
o and 50m @ 1.8g/t at RPM
- High-grade reconnaissance rock chip samples define an expanded footprint of high priority North and South zone targets within the RPM Prospect (ASX 22 October 2020)
- Rock samples included 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
- RPM North zone drilling completed with the goal of delineating a Maiden Resource by late 2021 and advancing the prospect through the development pipeline
- Additional diamond drill rig expected on site in coming weeks to ramp up Korbel infill drilling to expand and prove-up resource to Indicated status with Resource update due in Q4.
- All rigs now moved to Korbel Main to ramp up infill and extensional drilling for resource expansion and upgrade to Indicated status:
o Aggressive Infill and Extension drilling is ongoing at Korbel Main, currently focused on the higher-grade SE zone with the goal of substantially increasing the 4.7Moz Resource (ASX 7 April 2021) and upgrading the resource in size and confidence to expedite Project Feasibility Studies.
- Nova's Geological reconnaissance crew have completed field programs and have unlocked further targets within the Estelle Gold District. News to follow as results and findings become available
- Assay results pending for over 10,000m of drilling from both Korbel Main and RPM
- Snow Lake Resources update due shortly (Nova's majority owned lithium company)
NVA CEO, Mr. Christopher Gerteisen commented: "This marks a major milestone for Nova Minerals. RPM is now confirmed as the next discovery within the Estelle Gold Project. Unlocking the district is no longer merely a plan- we HAVE unlocked it. This news adds serious depth to the Estelle Gold Project, which has an already world-class resource development project at Korbel, and now has a second at RPM, being advanced towards production. The impressive gold intersections we saw from historical hole SE12-008 have now been confirmed in terms of continuity and grade in these new drilling intersections in holes RPM-001 and 002. The gravity of this is huge for the company as well as the greater resource sector as positively demonstrates we have another gold deposit that will add significant ounces to the global resource inventory at the Estelle Gold Project. RPM is ideally situated on a ridge top, which points to a potentially ideal cost effective future mining scenario.
It is important to remember that Korbel and RPM are only 2 of 15 known prospects with the wider Estelle Gold Project claims. In addition to these, there are numerous unnamed colour anomalies across our 324km2 claim block. The reconnaissance exploration teams have now completed their 2021 field programs and the early indications are very encouraging. Assay results from a number of these new prospects will be announced in the coming weeks as we continue to unlock the district.
The drill program at Korbel will continue at full pace into the foreseeable future, and we look forward to bringing shareholders results as they become available. In time, we expect to define multiple new shallow gold resources that will further support our goal of aggressively growing the resource inventory as we continue to move towards gold production at the Estelle Gold Project. Remember, we are on the fast-track towards production, that is our goal. We currently have 4.7Moz at the Korbel Main deposit, which represents just the beginning of our Estelle journey with the global resource base set to increase significantly in Q4 this year."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/0L21D6AZ
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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