Quarterly Activity report - 30 June 2020
There are two diamond drills rig now turning on Pad 3, aka the Block 2 "starter pit" area of the Korbel Deposit. The objective for 2020 is unchanged and remains to significantly increase the current 2.5Moz resource in both size and confidence. Most importantly, the 2.5Moz Inferred Resource was achieved using an average drill depth of less than 100m. Induced Polarisation chargeability results show that the mineralization is present to at least 300m below surface and remains open. The current program will test down to 500m below the surface, which is 5 times the current depth of the existing Resource area. To date, all holes have returned Continuous Gold Mineralisation from Surface exceeding the company's expectation. These results continue to support the potential for a massive, bulk-tonnage, heap leachable resource. We are sitting on a great sea of mineralization at Korbel with no end in sight.
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About Nova Minerals Ltd
The company plans to create shareholder value through two-pronged strategy:
- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.
- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.
Nova Minerals Ltd