Where Exactly is the Nova Minerals Deposit Located, and What Makes It Significant?
Nova Minerals Limited
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Where Exactly is the Nova Minerals Deposit Located, and What Makes It Significant?

Nova Minerals Limited (ASX: NVA, OTC: NVAAF, FSE: QM3), a mineral exploration company operating in the prolific Tintina Gold Belt in Alaska, has reported outstanding results from its RPM North deposit within the Estelle Gold Project. The latest drilling campaign has confirmed the presence of exceptional high-grade gold mineralization and the potential for substantial resource growth, both in size and confidence.

Exceptional Drill Results and Resource Extension

Key Highlights:

The RPM North deposit continues to showcase exceptional high-grade gold intersections, emphasizing the consistency of mineralization.

Multiple drill holes returned impressive results with over 10 broad intersections grading above 5 grams per tonne (g/t) of gold (Au).

The deposit remains open to expansion, specifically to the South, East, and at depth.

Noteworthy Drill Hole Results:

RPM-056: 98 meters @ 3. 4 g/t Au from 48 meters, including: 38 meters @ 7.

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5 g/t Au from 99 meters and 27 meters @ 10. 4 g/t Au from 107 meters. The overall average grade of 2. 3 g/t Au over 152 meters from 3 meters depth at a 0. 1 g/t cutoff.

RPM-057: 120 meters @ 5. 0 g/t Au from 93 meters, including: 79 meters @ 7. 4 g/t Au from 128 meters and 63 meters @ 9. 0 g/t Au from 143 meters. The overall average grade of 3. 2 g/t Au over 211 meters from 3 meters depth at a 0. 1 g/t cutoff.

RPM-061: 74 meters @ 2. 5 g/t Au from 83 meters, including: 13 meters @ 6. 2 g/t Au from 140 meters and 6 meters @ 11. 5 g/t Au from 147 meters. The overall average grade of 1. 6 g/t Au over 162 meters from 8 meters depth at a 0. 1 g/t cutoff.

RPM-064: 138 meters @ 1. 0 g/t Au from 11 meters, including: 22 meters @ 3. 0 g/t Au from 78 meters and 20 meters @ 3. 4 g/t Au from 80 meters. The overall average grade of 1. 0 g/t Au over 147 meters from 5 meters depth at a 0. 1 g/t cutoff.

RPM-065: 231 meters @ 2. 4 g/t Au from 39 meters, including: 118 meters @ 3. 9 g/t Au from 152 meters, 87 meters @ 4. 6 g/t Au from 171 meters, and 63 meters @ 5. 6 g/t Au from 195 meters. The overall average grade of 1. 9 g/t Au over 314 meters from 2 meters depth at a 0. 1 g/t cutoff.

These remarkable drill results, including numerous core assays returning more than 10 g/t Au, validate the consistency of gold mineralization at RPM North. The deposit is notably open to expansion in various directions, offering promising prospects for resource growth.

Potential for Resource Upside

The drilling campaign strategically targeted infill and step-out drilling to explore areas surrounding the existing resource shell. High-grade results from previous drilling campaigns, such as RPM-005, RPM-008, and RPM-015, laid the foundation for these latest findings. Several drill holes intersected mineralization outside the current resource area, including up-dip right up to the surface. This potential volume of accessible material could have a significant impact on future mining scenarios and economic studies.

Ongoing Exploration and Milestones

While these results are promising, further milestones and activities are on the horizon for Nova Minerals Limited:

Pending assays for RPM Valley holes drilled in 2023, aiming to follow up on initial intercepts and confirm resources in a newly discovered zone.

Continuation of surface exploration mapping and sampling program with potential new discoveries.

Updates on the potential listing of the company in the US.

Material Pre-Feasibility Study (PFS) test work results and trade-off studies, focusing on a fast-track production strategy.

An updated global Mineral Resource Estimate (MRE) following the receipt of all assay results, with an emphasis on higher indicated resources and improved mill feed grade.
Ongoing metallurgical and environmental test work.
Progress updates on the West Susitna access road.

Nova Minerals CEO, Mr. Christopher Gerteisen, expressed optimism about the latest drilling results, emphasizing the potential for further resource upside in upcoming drill programs. He also highlighted the importance of optimizing ongoing activities to minimize dilution and set a faster path to commercial production.

The formal strategic review process across the Estelle Gold Project is well underway, and Nova Minerals is committed to keeping shareholders informed as relevant studies are completed to unlock additional value from the Estelle gold district.

These findings at RPM North underscore Nova Minerals' commitment to exploring and harnessing the rich gold potential of the Tintina Gold Belt in Alaska, positioning itself as a notable player in the gold exploration and mining sector.

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