Research Report: Martin Place Securities
Sydney, July 22, 2019 AEST (ABN Newswire) - Nova Minerals (
ASX:NVA) (QM3:FRA) has a focus on gold and lithium but it also has these projects in North America where acquisition costs have been low and infrastructure, services and manpower are readily available to facilitate project development. Progress is being rapidly made with each.
NVA recently successfully spun out Snow Lake Resources to develop its now-wholly owned Manitoba lithium project whilst retaining 73% and now its focus is resource definition drilling at Estelle in the Tintina Gold Belt in Alaska. Snow Lake will list in Aug 2019.
The Tintina Gold Belt is one of Nth America's most important gold structures and extends over 1500km from west Alaska into Canada's Yukon province.
It is one of the world's great gold occurrences and has produced over 30moz and with well over 50moz being discovered since 1990. Many of these deposits are Intrusion Related Gold Systems (IRGS) associated with granitic intrusions evolving within the very active geological mobile belt that is the Alaskan Cordelliera.
Nova has tenements about 175 km NW of Anchorage and is adjacent to Goldmining Inc's 9.3moz Au eq gold porphyry copper resources at Whistler and associated deposits. The 2.2-5.3moz target at Oxide Ridge Project within the Estelle Gold Project and any of the other 14 targets on the 118km2 tenement could make this a 20moz district resource.
Nova Minerals is in good company. The Tintina Belt contains NST's Pogo as well as Kinross's 5moz Fort Knox, Victoria Gold's 6moz Dublin Gulch, Novagold/Barrick's 39 moz Donlin Creek, Seabridge's 38moz KSM and Northern Dynasty's 107moz Pebble deposit.
Other than Pogo, these are large low grade but high tonnage low operating cost major mines or impressive new developments.
The geological character of the Oxide Ridge deposits together with the IP surveys over 1000-2000m by 400m to +350m depth give good optimism on a resource outcome.
Good drill intersections of 450m @0.38g/t Au in MR-01 and 99m @0.80g/t including 41m @1.14g/t Au are also very encouraging.
Resource drilling now underway and a maiden resource is expected to be available during the Sept Qtr 2019.
Nova Minerals with a market cap of just A$18m has high leverage to a successful Maiden Resource within the targeted range of 2.2 - 5.3moz.
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About Martin Place Securities
Martin Place Securities is Australia's Boutique Resources Investment Firm, specialising in emerging mining, resources and energy companies.
MPS was founded in October 2000 to provide a link between Australian resource sector opportunities and investors from major financial centres in Europe, North America and China. We are well known for identifying and financing early stage prospects that develop into successful growth companies.
MPS provides services in Corporate Advisory, Stockbroking, Investment Research and Education.
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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