(MENAFN- ABN Newswire)
Nova Minerals Limited (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) is pleased to provide an update on further drilling results at the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.
Near surface, broad intersections at Korbel Main significantly extend the gold mineralisation footprint in the South-East and North-West to over 1600m in strike Latest results confirm extensive mineralisation at Korbel Main.
Results continue to show strong correlation between gold mineralization and IP Chargeability Anomalies.
Recent significant intercepts include:
- KBDH-054 527m @ 0.3 g/t including
o 107m @ 0.5 g/t
o 55m @ 0.5 g/t
o 9m @ 1.4 g/t
o 12m @ 1.0 g/t
o 9m @ 1.5 g/t
o 3m @ 3.1 g/t
- KBDH-045 253m @ 0.3 g/t including
o 113m @ 0.5 g/t
o 46m @ 0.6g/t
o 18m @ 0.7g/t
Established 3.3Moz gold resource at Korbel Blocks A and B supported by initial 16 holes (Korbel represents one of fifteen known occurrences on the Estelle project; ASX 5 October 2020)
o Updated Mineral Resource estimate now scheduled for early Q2 2021 supported by a total of 92 holes completed to date at the Korbel Main deposit (PAD1-4, 6, 8 and additional RC holes on Block C).
NVA CEO, Mr. Christopher Gerteisen commented:
"We are yet to find the extent of the Korbel Main system and continue to encounter wide gold mineralization intercepts, further expanding the footprint. Hole KBDH-045 significantly expands the resource footprint to the NW, indicating the potential for Block D and Isabella to converge into Korbel Main as drilling progresses. Hole KBDH-054 continues to confirm that the SE is an extension of the Korbel Main deposit. The SE extension zone should add significantly to the Korbel resource inventory. All holes drilled until 31 December 2020 are now in the lab being processed, including PAD6 and 8 along with PAD1 to 4 and the new RC holes in Block C, all to be added into the upcoming resource statement due early Q2 2021.
We have a large volume of samples in the lab with results now streaming in. We expect frequent news flow over the coming weeks as we continue to unlock the Korbel Main deposit and the greater Estelle gold district this year."
To view tables and figures, please visit:
https://abnnewswire.net/lnk/N2UZSK9P
( ) ( ) (OTCMKTS:NVAAF) 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
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