(MENAFN - ABN Newswire)
The directors of Nova Minerals Limited (Nova or Company) (ASX:NVA) (FRA:QM3) are pleased to announce encouraging drill results at the Officer Hill Gold Project in joint venture with Newmont Tanami Pty Ltd (Newmont) (a wholly owned subsidiary of Newmont Mining Corporation). The Officer Hill Project within EL23150 covers 206km2 and is located 34km south west of the Callie deposit which is part of Newmont's Tanami Gold mine operation. The exploration program is targeting Callie-style mineralisation within EL23150.
The best assayed results to date are from diamond drillhole OHD0003 with 4m @ 2.49 g/t Au, including 0.5m @ 12.6 g/t Au. A second intersection below this returned 1m @ 19.69 g/t Au (see Table 1 and Figure 1 in link below).
Mineralisation within OHD0003 is quartz-chlorite-pyrite vein hosted. Veins are present within variably bedded sandstone and laminated siltstones. Alteration is dominated by the regional green schist facies metamorphic assemblage.
An aeromagnetic and gravity survey was acquired across the entirety of the project area and will be used to assist the geological interpretation.
NVA Managing Director, Mr. Avi Kimelman said:
"We are encouraged by the initial results returned from the diamond drilling program on the Officer Hill Gold Project.
"Concurrent with Officer Hill exploration program, Nova is in the process of planning its next stage of exploration and reconnaissance activities for 2019 at the Estelle Gold Project and Thomson Brothers Lithium project operations and corporate development strategy which will deliver a parallel approach to enhance shareholder value across our company's project portfolio."
Nova will separately update the market on the current and proposed 2019 exploration and corporate development programs across the company's project portfolio in due course.
To view tables and figures, please visit:
Nova Minerals Limited ( ASX:NVA ) ( FRA:QM3 ) is an ASX-listed minerals explorer focused on lithium, gold and mineral exploration in Canada, Alaska and Australia.
The company plans to create shareholder value through two-pronged strategy:
- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.
- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.
Nova Minerals LtdP: +61-3-9614-0600F: +61-3-9614-0550WWW: novaminerals.com.au