Estelle Gold District Presentation - October 2020
Melbourne, Oct 19, 2020 AEST (ABN Newswire) - Nova Minerals Ltd's (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) ranked and prioritised systematic exploration strategy and activities at Estelle are guided by an exploration "Project Pipeline" process to maximise the probability of multiple major discoveries.
Each Milestone is defined by a specific deliverable and has each criteria needs to be ticked to determine which prospect must pass through before moving to the next Milestone. Economic criteria and probability of success increase as projects move along the pipeline. The methodology helps to ensure work is carried out across all stages of the process, cost are kept minimal and that focus is kept on the best quality targets and that the pipeline is kept full with early Milestone projects.
Future Strategy and Objectives
- Up to 40,000m of diamond drilling in 2020 and up to 80,000m in 2021 to focus on expanding and increasing confidence in the resource at Korbel Main (Blocks A and B) and Blocks C and D, additional drill test Cathedral in the Korbel deposit area
- Initial drill testing of other high priority targets on the property including the RPM and Shoeshine prospects
- Extend the Estelle project mineral resource estimate beyond Korbel Main
- Phase 2 metallurgical studies and comprehensive ore sorting study commenced
- Property scale compilation of historical exploration data, mapping, drilling and recent high-resolution airborne electromagnetic, magnetics, and radiometric data
- Focus on decision to mine by 2023/24
To view the Presentation, please visit:
https://abnnewswire.net/lnk/U7QM7UTN
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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