Bonanza Grades at RPM North Including 132m @ 10.1 g/t Au
Melbourne, Oct 11, 2021 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to announce bonanza gold results at the RPM North Prospect, within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Broad zone of high-grade gold intersected in drilling at the RPM North Prospect
- Drilling at RPM North Prospect returned spectacular results including (refer Figure 1 & 2*):
RPM-005
o 373m @ 3.8 g/t Au fr 7m
o 287m @ 4.8 g/t Au fr 7m
o 241m @ 5.7 g/t Au fr 7m
o 187m @ 7.3 g/t Au fr 34m
o 153m @ 8.8 g/t Au fr 68m
o 132m @ 10.1 g/t Au fr 89m
o 123m @ 10.8 g/t Au fr 95m
o 98m @ 12.6 g/t Au fr 95m
o 86m @ 14.1 g/t Au fr 123m
o 3m @ 32.8 g/t Au fr 181m
o 2.6m @ 35.6 g/t Au fr 128m
o 2.4m @ 41.8 g/t Au fr 125m
o 2.4m @ 50.3 g/t Au fr 161m
o 3m @ 97.8 g/t Au fr 169m
(RPM-005 returned an overall average grade of 3.5 g/t Au over 400m from surface within the RPM North mineralized zone)
- Work program now being planned for the next round of drilling to expand and prove-up RPM North, and the test gold zone with a much larger footprint at RPM South as soon as possible in 2022.
- RPM North drilling completed with 3 holes pending. The goal is to delineate a Maiden Resource by late 2021 and advance the prospect through the development pipeline.
- Maiden drill program now completed at RPM North with all rigs moved back to Korbel Main to maximize infill and extensional drill data for upcoming MRE updates.
- These results complement previous impressive drill results from RPM North (ASX 9 September 2021) and further demonstrate high grade continuous mineralization from surface:
RPM-002
o 128m @ 1.0 g/t Au fr 31m
o 42m @ 1.5 g/t Au fr 74m
o 12m @ 2.0 g/t Au fr 102m
o 6m @ 2.7 g/t Au fr 108m
o 3m @ 3.0 g/t Au fr 86m
o 3m @ 4.1 g/t Au fr 108m
(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 fr 224m
o 6m @ 4.2 g/t Au fr 224m
o 3m @ 7.0 g/t Au fr 227m
(RPM-001 returned an overall average grade of 0.3 g/t Au over 326m from surface within the RPM North mineralized zone)
- Historical (2012) diamond drill hole SE12-008 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
- Reconnaissance rock chip samples define an expanded high-grade footprint of priority at 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
- Aggressive Infill and Extension drilling are ongoing at Korbel Main, currently focused on SE high grade feeder zone with the goal of substantially increasing the 4.7Moz Resource (ASX 7 April 2021)(Refer Table 3*) and upgrading the resource in size and confidence to expedite Project Feasibility Studies.
- Geological reconnaissance crew completed field work and unlocked further High-Grade IRGS Au and Polymetallic Au-Ag-Cu targets within the Estelle Gold District (ASX 20 September 2021 and 23 September 2021)
- Assay results pending for over 10,000m of drilling from both Korbel Main and RPM
- Snow Lake Resources update due shortly
NVA CEO, Mr. Christopher Gerteisen commented:
"RPM once again delivers company making results. The tenor and continuity of these drilling intersections is most impressive indeed. These broad zones of high-grade confirm our geological interpretations which identified RPM as a high priority target. The RPM deposit is shaping up to be a very large high grade IRGS style gold system that remains wide open with results from 3 drill holes to be reported in the coming weeks. Once all results have been received, we will be able to send the data to the independent consultant to prepare our Maiden Inferred Resource for RPM North. Furthermore, we are now planning to have at least 2 drill rigs at RPM in the next round of drilling with a rig designated for what looks to be the much larger RPM South gold zone, which we believe will converge with RPM North at depth.
This marks a major milestone for Nova Minerals. RPM is now confirmed to be the second significant project development area at Estelle and will be a key component of our ongoing resource development work on our path towards production at the Estelle Gold Project. This is what unlocking a district looks like, and we will continue to do so with Korbel and RPM representing 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 had another successful field season in 2021, with their efforts leading to at least two further significant discoveries. The Stoney prospect represents an extensive Polymetallic Au-Ag-Cu Stacked Vein System which adds another dimension to the Project potential beyond gold. The Train-Shoeshine area uncovered what appears to represent another Intrusive Related Gold System. Both prospects returned broad zones of high-grade across the spectrum in surface rock samples (ASX 20 Sept 2021, ASX 23 Sept 2021). We will continue to systematically advance these prospects and continue with our successful recon exploration programs in search of further discoveries as we move forward.
The drill program at Korbel will continue for the rest of the year, and we look forward to bringing shareholders further 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 inventory expected to increase significantly in the near term, especially now with RPM's Maiden Resource expected later this year."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/L78083W5
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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