2019 Drill Program to Commence at Officer Hill Gold
Melbourne, July 17, 2019 AEST (ABN Newswire) - The directors of Nova Minerals Limited (Nova or Company) (
ASX:NVA) (QM3:FRA) are pleased to announce the commencement of diamond drilling at the Officer Hill Gold Project Joint Venture (Project) managed by Newmont Goldcorp Tanami Pty Ltd (formerly Newmont Tanami Pty Ltd) (Newmont Goldcorp), a wholly owned subsidiary of Newmont Goldcorp Corporation. The Project is located within EL23150 block, covers 206km2 and is located 34km southwest of the Callie deposit at Dead Bullock Soak, part of Newmont Goldcorp's gold operations in the Tanami region. The exploration program is targeting Callie-style mineralisation within EL23150.
Positive assay results were received from diamond drill holes OHD0004-OHD0006 and included the following anomalous gold values; 1.0m @ 8.31g/t Au (OHD0004), 7.0m @ 0.48g/t Au (OHD0005) and 1.0m @ 1.25g/t Au (OHD0006) ASX Release: 24 January 2019 (Figure 1 and Table 1 in link below).
A heritage survey was completed over the Officer Hill and Paris prospects in April 2019. Newmont Goldcorp received the Sacred Site Clearance Certificate from the Central Land Council (CLC) in June. A diamond drill rig is scheduled to commence drilling shortly.
The 2019 drill program will follow up results of the 2018 drill campaign. The first phase of the drill program consists of ~1,650 metres of diamond drilling, with associated assaying, down-hole surveying and petro physics (Figure 1). Results from the first phase of the 2019 drill program will determine the program and budget for the second phase.
NVA Managing Director, Mr. Avi Kimelman said: "It's an exciting time for Nova with Exploration ongoing at the Estelle Gold Project, Snow Lake Resources listing and now the decision by Newmont Goldcorp to continue with drilling is an indication of the quality of the Officer Hill Gold Project we have in our project portfolio and the added exploration upside in the Tanami region of Northern Territory."
"Newmont Goldcorp's ongoing commitment brings valuable technical expertise and insights to the Officer Hill Gold Project and demonstrates that Nova's exploration package at this project represents a highly prospective opportunity."
"Exploration at Estelle is continuing and we making great strides in demonstrating the potential large size and viability of the project. This is going to be a very exciting year for the Company as we continue to understand the prospectivity of these large near surface gold systems and advance them to our maiden Inferred JORC Resource. We will keep the market updated on the Estelle Exploration program in the near term."
To view tables and figures, please visit:
http://abnnewswire.net/lnk/GBTD014T
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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