RPM Expands the Resource Drilling Footprint for 2021
Melbourne, Oct 22, 2020 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on its field activities within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Estelle continues to grow into a gold district with an expanded drill-ready targets now identified at RPM.
- Sampling of high-grade reconnaissance rock chips, define expanded footprint of high priority targets within the RPM Prospect
o Rock samples returned high-grade gold results:
291 g/t, 103 g/t, 13.1 g/t, 9.3 g/t, 9.0 g/t, 8.8 g/t and 5 g/t
o 2012 diamond drill hole SE12-008:
178m @ 0.8g/t incl. 120m @ 1.0g/t and 50m @ 1.8g/t at RPM (ASX 17 September 2019)
- Significant pipeline of Tier 1 assets now emerging within the Estelle project area
- Future opportunity to unlock yet another large tonnage Block outside the current Resource Drilling at Korbel Main (Blocks A and B) and Korbel Blocks C, D, Isabella and Cathedral
- Drilling is ongoing at the Korbel Main south east feeder extension (Pad 6) and Blocks C and D
- Drill results for Korbel Main are forthcoming
NVA CEO, Mr. Christopher Gerteisen commented:
"These spectacular grades obtained from RPM alongside the encouraging drill result that was re-sampled from the 2012 diamond drill hole SE12-008 (ASX 17 September 2019) opens up another Estelle target which we anticipate to drill in 2021, in line with our plans to unlock a district containing multiple, large-scale gold deposits. Nova commenced its IRGS exploration in 2018, is now funded and has a highly qualified local exploration team. RPM is presenting surface features indicative of a much larger footprint for resource delineation than first thought. The team is confident in growing the pipeline of Tier 1 assets within the project area. The commencement of drilling at RPM is scheduled for 2021 and marks the start of Nova's next growth phase for the benefit of all stakeholders. In time, we expect to define multiple new shallow gold resources that will further support our goal of building a centralised mill and heap leach facility as we continue on our path towards gold production."
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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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