The latest laboratory results from diamond core drilling, the gold explorer Nova Minerals (WKN A2H9WL / ASX NVA) on the Korbel Main Target Area, part of the Estelle Project, confirm a large intersection of continuous gold mineralization – outside of the area of the already known 3.3 million ounce resource!
The company sees this as an expansion of the area of the Korbel Zone by around 30% (!) To more than 2,000 meters from northwest to southeast! Mineralization is also detectable from surface to depths> 500 meters and the reported hole ended in mineralization with 1.2 grams of gold per ton at a depth of 594 meters per ton.
The best drill sections from this hole were:
– 586 m with 0.3 g / t Au from 7 m in KBDH-025
– 336 m with 0.4 g / t Au from 258 m in KBDH-025
– 128 m with 0.5 g / t Au from 363 m in KBDH-025
– 27 m with 0.6 g / t Au from 261 m in KBDH-025
– 46 m with 0.6 g / t Au from 362 m in KBDH-025
– 3 m with 1.2 g / t Au from 591 m in KBDH-025 (end of drilling)
Promising: The well touched the high-grade South-East Extension zone, which Nova Minerals is currently working on!
Most significant drilling so far
Nova’s CEO Christopher Gerteisen stated that this is the most important well to date on Korbel, which confirms a substantial expansion of the area’s footprint. It is also very encouraging to see that such strong and mighty gold intercepts extend beyond the current 3.3 million ounce resource block. This further improves the possibility of significantly increasing the resource inventory on Korbel Main until the next resource update in 2021!
In addition, the rock that was seen in the feeder zone of the South-East Extension is one of the most spectacular that has been observed so far, Mr. Gerteisen added.
Nova Minerals’ drills are currently turning almost without a break. While one drilling rig is testing the newly defined extension, a second drilling rig is dedicated to the target block D. As a result, the drills are then to be relocated to the drilling targets in block C and the Isabell zone.
Nova CEO Gerteisen went on to say that his company has a very active winter season ahead of it and will be pushing ahead with exploration and at the same time doing the profitability assessment and ESG studies. He said that the Korbel mineralization remains wide open in all directions is something special, and Nova will not let up in its activities.
The company says it has sent more than 15,000 samples to ALS Geochemistry’s laboratory in Fairbanks. In addition, the expansion drilling on the South-East Extension is about to be completed and here, too, the first batch of drill cores is already on the way to Fairbanks.
Nova Minerals is now extremely well positioned to move forward with the exploration and development of Estelle, and in particular the Korbel area, following the just completed A $ 21 million financing. In our opinion, the latest drilling results already suggest that the success story will continue. However, the capital increase, which was carried out at AUD 0.17, has to be digested first. But we firmly believe that this should work in the short term rather than in the long term. We will keep the readers of GOLDINVEST.de up to date.
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In accordance with Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that clients, partners, authors and employees of GOLDINVEST Consulting GmbH hold or can hold shares in Nova Minerals and that there is therefore a possible conflict of interest. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values recommended by us during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. Furthermore, there is a consulting or other service contract between a third party in the Nova Minerals warehouse and GOLDINVEST Consulting GmbH, which creates a conflict of interest, since this third party remunerates GOLDINVEST Consulting GmbH for reporting on Nova Minerals. This third party may also hold, sell or buy Nova Minerals shares and would benefit from any increase in the price of Nova Minerals shares. This is another clear conflict of interest.
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