Korbel Main Exploration Update
Melbourne, Oct 16, 2020 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on further continuous zones within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Integration of the new Block Model (ASX 05 October 2020) results with the 2019 IP Chargeability (ASX 16 July 2019) data shows a very strong correlation with gold mineralization. This together with the observation of Arsenopyrite-Quartz Veins associated with the Chargeability Anomaly (15 mV/V) at Block D (ASX 16 July 2019) suggests that the IP anomalies are a good predictor for gold mineralization in the Korbel system. As a result, the Company is planning an aggressive drilling campaign (3,000m) to follow up on the Isabella anomaly defined during the 2019 survey. A new platform (PAD9) will be constructed and one of the active Ruen drills will be deployed to this target once the Block D and C holes are completed (Figure 2*).
NVA CEO, Mr. Christopher Gerteisen commented: "We are extremely excited with the volume of prospective mineralisation at Korbel that has been recognised at Isabella Block. This has the potential to prove the mineralised system to be even larger.
Our corporate goal is to add significant tonnes and ounces in this current drill program and this further enhances the prospect of adding greatly to the resource inventory as these blocks start to converge into the Korbel Main deposit. During the rest of 2020 and into 2021 we will continue to drill Korbel Main, the South East Extension feeder system, Block C, Block D and the Isabella Block, as well as the other prospects within the Estelle district.
Drilling continues unabated with one diamond drill rig now at Pad 6 to test the high-grade southeast extension feeder zone of Korbel Main, and a second rig drilling at Pad 8 on Block D which has already yielded promising results. The rigs are scheduled to drill test Block C and Isabella at depth in due course. We have a very active winter season ahead of us. It is full steam ahead."
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/3B33M651
About Nova Minerals Limited
Nova 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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