Nova Minerals Ltd - Continuous Gold Mineralisation from Surface at Korbel
Nova Minerals Ltd (ASX:NVA)

Continuous Gold Mineralisation from Surface at Korbel

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Highlights

What's happened?

Nova Minerals Ltd (ASX:NVA) have provide an update on the drilling results of Holes KBDH-003 and KBDH-0.

What are the key highlights?

  1. The Korbel Prospect has been tested with two diamond drills rigs, sixteen holes have been drilled to date on Block B.
  2. Initial holes KBDH-001, KBDH-002 KBDH-003 and KBDH-004 further demonstrate continuation of mineralization at over 200 metres below the existing 2.5Moz inferred resource.
  3. Impending increase to the current 2.5Moz stage 1 Mineral Resource Estimate planned for the current quarter.
  4. All drill holes intersected thick zones of significant gold mineralisation above the nominal cut-off grade.
  5. A significant increase in thickness and continuation of IRGS mineralization starting at surface.

For further information please refer to the announcement linked below.

Managing Director's Summary

Chris Gerteisen

“We are pleased to report more thick drill intercepts which are an exciting and significant development in our phase 1 resource upgrade with all holes hitting extensive mineralisation. The broad mineralisation announced today is particularly encouraging, demonstrating the potential to rapidly add significant rock volume to the Korbel gold endowment. Similar potential remains at block A which the rigs will be moving over to for testing in the coming weeks. The KBDH-03 and KBDH-004 assay results together with holes announced on 22 June 2020 demonstrate strong potential for substantial extensions to the Korbel deposit, highlighting the world-class nature and size of the system, with the continuation of grade at depth and the consistency of mineralisation starting at surface. The prospect shares geological similarities to the Fort Knox and Eagle Gold mines in the Tintina Gold Belt. We look forward to bringing shareholders further results as they become available as well as our phase 1 mineral resource upgrade on Block B in the near term. Another encouraging step on our path towards production.”

Chris Gerteisen
Managing Director, Nova Minerals Ltd
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