Full Year Statutory Accounts - 30 June 2021
Melbourne, Sep 27, 2021 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) has increased the size of its Estelle Gold resource during the course of the 20/21 year.
Currently standing at 4.7Moz, Estelle is being explored extensively, Four diamond drill rigs are operating on both the Korbel and RPM prospects.
The Estelle Gold project, which is 85% owned by Nova Minerals, is located 185km northwest of Anchorage, and is currently accessible by helicopter and winter road from Nova's Whiskey Bravo Camp.
Estelle Gold is situated within the Tintina Gold Province which spans portions of Alaska and Western Canada, containing some of the largest gold deposits in the world. Over the last 3 years, Nova has focused on developing the Korbel prospect at the northern end of the tenement. Drilling to date has revealed a convergence of the initially separate Blocks A-D, into Korbel Main.
Nova's drilling at Korbel Main has revealed an extensive highgrade feeder zone in the Southeast portion of the deposit, which remains wide open. Step out drilling has uncovered extensive mineralisation, increasing the length of strike at Korbel Main to 3.3km. Concurrently, the Company has been conducting infill drilling to increase the confidence of the resource. During FY20/21 alone, Nova increased the size of the resource at Korbel Main from 2.5Moz to 4.7Moz. Drilling is ongoing, and the Company plans to release a resource update for Korbel Main in late 2021, accompanied by a maiden resource for the RPM prospect.
During the year, Nova was able to complete the majority of its first scoping study for Korbel Main, from a technical perspective. Nova intends to release it alongside the resource upgrade in late 2021.
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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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