Full Year Statutory Accounts
Melbourne, Sep 27, 2019 AEST (ABN Newswire) - Nova Minerals Limited (
ASX:NVA) (QM3:FRA) (QTRPF:OTCMKTS) continued its fast-track exploration strategy at the District Scale Estelle Gold Project in Alaska to take it to its maiden inferred resource in the September quarter to outline the size and scope of the project area, achieving significant milestones during the Quarter, including running IP and commencement of this resource drilling to define the resource. The maiden resource is one of 15 known large prospects across the project area.
In addition, At the Estelle Oxide project Nova's 2018 mapping campaign conducted by Pacific Rim Geological Consulting of Fairbanks Alaska demonstrated that higher gold values are associated with bismuth telluride and arsenopyrite mineral phases and this mineralogy is hosted by sheeted quartz veins containing narrow alteration selvages (Figure 1 in link below). These geological observations are consistent with observations in the published research (Goldfarb et al., 2007) for gold mineralization that fits the Intrusive-Related Gold Systems (IRGS) genetic model.
Similar IRGS deposits in the region is the 9.2 million oz Au Fort Knox mine or the 6.0 million oz Au Dublin Gulch project both located within the Tintina Gold Province.
Furthermore in relation to our gold portfolio, Newmont Goldcorp ran a heritage survey that was completed over the Officer Hill and Paris prospects in April 2019. Newmont Goldcorp received the Sacred Site Clearance Certificate from the Central Land Council (CLC) in June. Drilling commencement was subsequently announced to the ASX on the 17 July 2019.
The Company is also at the backend of the Snow Lake Resources Ltd listing on the CSE. The Snow Lake team continued to progress with desktop works and initial discussions with strategic investor, off-take and project development partners, with the Company executives attending strategic meetings, to further advance interest from such strategic partners for the potential full project development in the quickest time as practical.
Nova has mandated KPG Capital & Co to act as advisor in negotiating the potential sale or Joint Venture with interested parties to achieve maximum value from Windy Fork REE Project to enhance the company's shareholder value.
The Nova board is currently in discussions with the Halcyon Resources Pty Ltd in relation to extracting value from its interest the Tambellup Kaolin Deposit, which is High Purity Alumina (HPA) and high purity silica from kaolin clay using their innovative production method, the Griffin Process.
The milestones achieved reinforces the Company is genuinely on track and continues delivering on its strategy of creating value for shareholders. Nova remains confident that key upcoming milestones will prove successful to demonstrate the resource and exploration scale of the District Scale Estelle Gold Project and the further potential to maintain its fast track strategy to near term cash flow through Snow Lake on the Thompson Brothers Lithium Project.
To view the Annual Report, please visit:
https://abnnewswire.net/lnk/U3JN1S59
About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the 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, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
| ||
|
