Further Visible Gold Intersected at RPM
Melbourne, July 25, 2023 AEST (ABN Newswire) - Nova Minerals Limited (ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to again announce visible gold at the high grade RPM Deposit, within the Company's flagship Estelle Gold Project, located in the prolific Tintina Gold Belt in Alaska.
- An occurrence of visible gold of <1% (figure 1*) disseminated in a quartz vein hosted within hornfels rock was observed in drill hole RPM-043 at a depth of 68m. This is encouraging as the drillhole is targeting the potential eastern extension of the RPM North bonanza zone with a total planned depth of 325m. Drilling is ongoing with the hole currently at 120m. Once complete the core will be processed on site and sent to the ALS analytical laboratory for assaying, with results expected in September.
- Drilling continues across RPM to further increase and prove up the high grade resource
- Drilling to commence at the Train prospect with the aim of confirming RPM-style high grade mineralization and to establish another resource deposit at the Estelle Gold Project
- 37% owned Snow Lake Resources US SK-1300 Initial Assessment (IA) or Preliminary Economic Assessment (PEA) due to be reported this month
- Nova has progressed it's efforts into the trading of the Company's shares on a major US exchange as soon as possible
Nova CEO, Mr Christopher Gerteisen commented: "Coarse visible gold has been observed again at RPM, this time in drill hole RPM-043 as shown in figure 1*. This is the most impressive specimen of visible gold seen thus far at RPM, and it's very encouraging, as this drill hole is targeting the extension of the mineralization along strike to the east of the high grade RPM North bonanza zone (Figure 2*).
While assays are pending, and drilling continues, we are attaining a better understanding of the complex controls on mineralization at these very high grade RPM type mineralized systems which exist across Estelle, to further unlock the significant gold endowment within the project area. With improved targeting of these high grade zones ongoing, we are confident the RPM deposit will continue to yield positive results from the 2023 resource drilling program currently underway."
*To view tables and figures, please visit:
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.