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Nova Minerals Ltd (NVA.AX) Further Indications of Higher-Grade Zones at Korbel Main

·3-min read
Nova Minerals Ltd
Nova Minerals Ltd

Nova Minerals Ltd (NVA.AX) Further Indications of Higher-Grade Zones at Korbel Main

Melbourne, Australia, Feb 1, 2021 - (ABN Newswire) - Nova Minerals Limited (ASX:NVA) (HAM: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.

- Wide near surface intersections from Pad 6 at Korbel Main South-East extends strike of already identified mineralised zone by 30%

o 174m @ 0.6 g/t (104 gram-meters) incl. 61m @ 0.9 g/t, 24m @ 1.0 g/t, 21m @ 1.2 g/t and 3m @ 4.2 g/t in KDBH-052 KBDH-052 returned an overall average grade of 0.4 g/t Au over 320m (128 gram-meters) within the Korbel intrusive.

o 256m @ 0.4 g/t (102 gram-meters) incl. 61m @ 0.8 g/t, 46m @ 0.9 g/t and 18m @ 1.0 g/t in KBDH-056

o Assays for KBDH-054, KBDH-050 from PAD6 and KBDH-021, KBDH-023 from PAD4 are now imminent

- Further higher-grade zones (1+ g/t) continuing within the structure

- PEA under preparation aiming to investigate optimal capital costs and mining and treatment alternatives at Korbel Main

- Over 16,000m of drill samples (30 holes) will be assayed during the current quarter

- Further resource upgrade due in Q2 2021 supported by assays from all holes completed by 31 December 2020 at the Korbel Main deposit (PAD1-4, and 6)

NVA CEO, Mr. Christopher Gerteisen commented:

"The South-East extension appears to be a major new gold trend extending the Korbel Main deposit by 340m in length and 400m in width, increasing the resource zone by 30% along strike, a clear demonstration of the significant size and scale of the mineralized structure which still remains wide open. In addition, all samples are now being processed by two laboratories, the results of which will be included in the resource statement due in Q2 2021.

It is very gratifying to see the extension of the mineralised system with holes consistently returning 100 gram-meter results which now all converge within the Korbel Main deposit. This success is supported by our corporate strategy focus of seeking to create value through the discovery, definition and development of world class resources in safe mining jurisdictions. Holes KBDH-052, KBDH-054 and KBDH-056 reflect excellent results from the higher-grade starter pit zone within Korbel. They not only confirm the grades of the earlier drill sections from Pad 3 and 4, but also extend the higher grades to the South-East.

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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
P: +61-3-9614-0600
F: +61-3-9614-0550

Nova Minerals Ltd

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