Nova Minerals Ltd: Significant Mineralisation Observed at RPM Prospect
Melbourne, Australia - Nova Minerals Ltd. (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) announces Significant Mineralization Observed at RPM, within the Company's flagship Estelle Gold Project located in the prolific Tintina Gold Belt.- Historical (2012) diamond drill hole SE12-008 re-sampled returned results of (ASX 17 September 2019):
o 177m @ 0.8g/t
o incl.120m @ 1.0g/t
o and 50m @ 1.8g/t at RPM
- High-grade reconnaissance rock chip samples define an expanded footprint of the high priority targets within the RPM Prospect (ASX 22 October 2020)
o Rock samples returned high-grade gold results:
291 g/t, 103 g/t, 13.1 g/t, 9.3 g/t, 9.0 g/t, 8.8 g/t and 5 g/t
- Drilling on track with the goal of delineating a Maiden Resource by late 2021 and moving the project through the development pipeline
- Fifth drill expected onsite in coming weeks to ramp up both Korbel and RPM drilling
- Geological reconnaissance crew to commence field work to unlock further targets within the Estelle Gold District
- Assay results pending for over 10,000m of drilling from both Korbel Main and RPM
- Snow Lake Resource update due shortly
NVA CEO, Mr. Christopher Gerteisen commented: "The rocks we are observing in the drill core from the holes completed to date at RPM show we are hitting the target and intersecting the mineralized zone. Samples from holes RPM 001, 002 and 003 are now on the way to the lab for analysis. The continuity and correlation of mineralisation with the historical hole that encountered 120m at over 1g/t are further evidence of the potential of a significant intrusive related gold system at the RPM prospect (one of 15 known prospects). The drill program is ongoing over the coming months, and we look forward to bringing shareholders results as they become available.
In time, we expect to define multiple new shallow gold resources that will further support our goal of aggressively growing the resource inventory as we continue to move towards gold production at the Estelle Gold Project. We will keep the market updated on the results of these programs as we progress. We currently have 4.7Moz at the Korbel Main deposit, which represents just the beginning of our Estelle journey."
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About Nova Minerals Ltd:
Nova Minerals Ltd. (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) is a dynamic explorer and developer of its flagship Estelle Gold district in the Tintina gold belt. Nova's strategy is to substantially increase the current 4.7Moz resource on the Korbel prospect. Subsequently to continue to lock in value through moving Korbel towards production whilst increasing the resource base across the pipeline of targets within the Estelle gold district. Nova Minerals also holds strategic investments in Snow Lake Resources Ltd (Thompson Brothers Lithium Project), Torian Resources Ltd. (ASX:TNR) and RotorX Aircraft Manufacturing Co.
Source:
Nova Minerals Ltd.
Contact:
Nova Minerals Ltd. P: +61-3-9614-0600 F: +61-3-9614-0550 WWW: novaminerals.com.au
