- Infill drilling at Nova Minerals’ (NVA) Korbel Deposit confirms the continuity of mineralisation
- The latest drilling results include 67 metres at 0.7 grams per tonne (g/t) gold and 30 metres at 0.8g/t gold
- According to the company, these results continue to show the Korbel Main deposit has “significant scale” with high-grade blow out zones within the continuous mineralisation
- Nova is currently awaiting results for over 10,000 metres of drilling
- On the market, Nova was up 13.6 per cent and is trading at 12.5 cents per share
Infill drilling at Nova Minerals’ (NVA) Korbel Deposit confirms the continuity of mineralisation.
The gold company is aiming to advance the Korbel Main deposit towards being a bankable project by 2023.
At the moment, infill drilling is a key focus to upgrade the project from inferred resource to an indicated category. This will significantly de-risk the project, allowing Nova to advance funding options.
The latest drilling results include 67 metres at 0.7 grams per tonne (g/t) gold, 30 metres at 0.8g/t gold and 85 metres at 0.5g/t gold.
According to the company, these results continue to show the Korbel Main deposit has “significant scale” with “high-grade” blow out zones within the continuous mineralisation.
The mineralisation remains open along strike to the northwest and southeast with a predicted strike length of over three kilometres
Nova is currently awaiting results for over 10,000 metres of drilling.
Commenting on the results is CEO Christopher Gerteisen.
“A focus on proving up the resource to Indicated status, which can then translate into reserve ounces for our planned starter operation, while at the same time pushing forward the resource development program at the RPM prospect and unlocking the wider Estelle Gold District with additional prospects rapidly coming online will bring value to the company,” he said.
“An additional diamond drill rig has also now been ordered as we plan to ramp things up considerably. We expect this rig to be mobilised and start turning in the coming months.”
On the market, Nova was up 13.6 per cent and is trading at 12.5 cents per share at 11:39 pm AEST.