Half Yearly Report and Accounts
Melbourne, Feb 28, 2023 AEST (ABN Newswire) - Nova Minerals Limited's (
ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) vision is to develop 'Estelle' North America's next major gold trend to become a world-class, tier one, global gold producer. In pursuit of this goal Nova undertook a transformational 30,000m highly targeted diamond drill program during the 1st half of the 2023 financial year. The aim of this program is to increase both the size and confidence of the Korbel and RPM deposits, with the inclusion of the high grade RPM ore in the production schedule expected to have a significant positive impact on the key economic metrics such as NPV and IRR in the Phase 2 Scoping Study, now well underway.
The 2022 diamond drill program comprised of:
- 9,000m (24 holes) of close spaced infill and step out drilling at the RPM North deposit to prove up and expand the existing 1.5 Mozs @ 2.0g/t Inferred resource to the Indicated and Measured levels (All assay results received and upgraded resource estimate pending)
- 3,000m (8 holes) maiden drilling at the RPM South prospect (All assay results received and maiden resource estimate pending)
- 10,000m (30 holes) infill drilling at Korbel, in the saddle area within the proposed conceptual Korbel Main pit zone, with the goal being to convert additional Inferred resources from the 8.1 Moz total gold resource (3.0 Moz Indicated | 5.1 Moz Inferred) into the higher Indicated category (Assays results pending, following which an upgraded resource estimate will be undertaken)
- 5,000m (12 holes) maiden drilling at the Cathedral prospect (All assay results received and maiden resource estimate pending)
- 1,000m (12 holes) for hydro wells for ground water monitoring as part of the environmental studies currently underway.
*To view the half year report, please visit:
https://abnnewswire.net/lnk/K4Z37K71
About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
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