Nova Minerals Limited Stock Market Press Releases and Company Profile
Broad Gold Mineralisation with High Grade Zones at Korbel
Broad Gold Mineralisation with High Grade Zones at Korbel

Melbourne, Aug 19, 2020 AEST (ABN Newswire) - Nova Minerals Limited (googlechartASX:NVA) (googlechartQM3:FRA) (googlechartNVAAF:OTCMKTS) is pleased to provide an update on its current drilling and assays for the Korbel prospect (table 1), within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.

Estelle continues to grow into a very large continuous gold system with further broad intervals at Korbel identified, where mineralisation remains open at depth and strike.

Continuity of gold mineralisation confirmed at Korbel defined by KBDH-005 to 012

Significant new diamond drilling gold intercepts at Korbel include:

- 101m @ 1.3 g/t incl. 82m @ 1.5 g/t, 30m @ 2.4 g/t, 3m @ 7.7 g/t, 6m @ 4.7 g/t and 3m @ 8.2 g/t in KDBH-012

KBDH-012 returned an overall average grade of 0.6 g/t Au over 429m from 3m within the Korbel intrusive with multiple high-grade zones

- 150m @ 0.6 g/t incl. 21m @ 1.6 g/t in KBDH-005

- 163m @ 0.6 g/t incl. 87m @ 0.7 g/t in KBDH-009

- 137m @ 0.6 g/t incl. 97m @ 0.7 g/t in KBDH-010
- South East of Block B continues to grow outside the current 2.5Moz resource model

- Gold footprint for Block A and B extends +1500m strike

o Significant growth potential remains

o Many holes end in mineralisation or have further depth potential.

o New zones discovered, particularly to the south and east

- Phase 1 Mineral Resource update on Block B due shortly

NVA CEO, Mr. Christopher Gerteisen commented: "The scale and dimensions of the near surface and continuous mineralisation at Korbel continue to impress, particularly with the high-grade pods now being identified outside the current 2.5Moz resource model as we increase the overall footprint of the system, along strike and down dip where substantial thicknesses of mineralisation remain open.

As we have repeatedly stated, our next corporate goal was to add significant ounces in this current drill program and we strongly believe this will be eclipsed during the course of this year.

Drilling is continuing with one diamond drill rig now on Block A, Pad 2, where similar potential to Block B remains. We are working to extend the resource both in strike and length; the second diamond rig is completing Pad 2 while Pad 6 is to follow on the high-grade zone to the southeast, which we have now discovered. In addition, we will be commencing RC drilling to scout targets within Korbel, testing the deposit at strike length- another encouraging step on our path towards production.

To view tables and figures, please visit:
https://abnnewswire.net/lnk/L2VUMG67


About Nova Minerals Limited

Nova Minerals LtdNova Minerals Limited's (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) vision is to develop North America's next major gold trend. The company is focused on exploration in Alaska's 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 Victoria Gold's Eagle Mine and Kinross Gold Corporation's Fort Knox Gold Mine. The company's flagship Estelle Project has a current total estimated JORC gold resource of 9.6Moz (3Moz Indicated and 6.6Moz Inferred). Estelle is a 45km long string of 15 identified gold prospects bracketed by the Korbel deposit in the north and the RPM deposit in the south. These two deposits are currently host to extensive exploration programs.

Additionally, Nova has an indirect interest in the Canadian Thompson Brothers Lithium Project through a substantial stake in Snow Lake Resources Ltd (NASDAQ:LITM) and holds a 12.99% interest in Torian Resources Limited (ASX:TNR), a gold exploration company based in Western Australia.

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Contact

Nova Minerals Ltd
P: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au



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