Nova Minerals Ltd (NVA.AX) Quarterly Activities - Cashflow Report
Melbourne, Australia, Jan 29, 2021 - (ABN Newswire) - Nova Minerals Limited (ASX:NVA) (HAM:QM3) (OTCMKTS:NVAAF) continued its fast-track exploration strategy at the district scale Estelle Gold Project in Alaska, achieving a significant milestone with a "Snapshot in time" release of a JORC compliant 3.3Moz maiden inferred interim resource at its Korbel Main prospect in the September quarter.
Results of the diamond drilling program continue to expand the Korbel Main resource area, confirming that the mineralisation extends by over 2,000m from the North-West to the South-East, and to depths of 500m.
Field operations are ahead of schedule and on budget when it comes to variables we can control. The unforeseen bottleneck has been the assay laboratory that continues to operate under severe COVID protocols and restrictions. This being said, Nova expect results in the very near term and to further mitigate these delays, half of the samples are in a second assay lab. We expect both labs to work simultaneously, which would result in receiving our assays much faster.
Nova announced exceptional gold leach recoveries averaging 76% at the Korbel Gold Deposit (Table 1*). All initial metallurgical test-work results are consistent with Nova's expectation that supports a future low strip, bulk mining, heap leach mining operation.
To view the quarterly report, please visit:
About Nova Minerals Ltd:
Nova Minerals Limited (ASX:NVA) (FRA:QM3) (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 Ltd
Nova Minerals Ltd
Copyright (C) 2021 ABN Newswire. All rights reserved.