Nova Minerals Limited Stock Market Press Releases and Company Profile

Korbel Main drill results establish high-grade domains

New High Grade Gold Domains Within Korbel
New High Grade Gold Domains Within Korbel

Melbourne, Dec 1, 2020 AEST (ABN Newswire) - Nova Minerals Limited (googlechartASX:NVA) (googlechartQM3:FRA) (googlechartNVAAF:OTCMKTS) is pleased to provide an update on newly defined mineralized extensions at the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.

New results confirm high-grade gold domains at Korbel Main where they remain open along strike

Focused exploration on Pad 6 continues in the high-grade zone South-East and potentially expands South-West

Diamond drill hole intercepts at Korbel include (Table 1*):

- 420m @ 0.4 g/t Au from 27m KBDH-005
- 341m @ 0.5 g/t Au from 27m KBDH-005
- 174m @ 0.6 g/t Au from 157m in KBDH-005
- 147m @ 0.6 g/t Au from 218m in KBDH-005
- 21m @ 1.5 g/t Au from 255m in KBDH-005
- 14m @ 1.1 g/t Au from 305m in KBDH-005
- 549m @ 0.3 g/t Au from 3m in KBDH-024
- 339m @ 0.4 g/t Au from 3m in KBDH-024
- 97 m @ 0.8 g/t Au from 171m in KBDH-024
- 15 m @ 2.3 g/t Au from 180m in KBDH-024
- 6m @ 4.7 g/t Au from 189m in KBDH-024
- 3m @ 8.2 g/t Au from 192m in KBDH-024

Over 15,000m of drill samples have been submitted to ALS in Fairbanks Diamond drilling to continue unabated with over 25,000m completed to date and up to 80,000m planned for 2021

NVA CEO, Mr. Christopher Gerteisen commented: "The mineralisation within the Korbel Main footprint is particularly encouraging as the drilling has now demonstrated several well-defined mineralised domains that will be incorporated into the optimised pit model as we progress through the economic assessment.

Drilling continues unabated with one diamond drill rig at Pad 6 testing the newly defined South-East extension of Korbel Main which is contiguous to the same higher grade mineralised zone through Korbel Main. With 15,000m of drill sample results now due to come in over the short term, we look forward to updating our resource in 2021.

Nova is an ideal position to achieve our goal of progressing Korbel Main to production whilst concurrently unlocking the Estelle gold district. By implementing our dual exploration and development strategy, we will seek to maximise our ability to create value for shareholders through both resource growth and project development."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/PO261888


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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