- Nova Minerals (NVA) has announced further encouraging drill results at the Officer Hill Gold Project which is part of a joint venture with Newmont Goldcorp Tanami
- Assays from diamond holes contained numerous zones of anomalous gold values
- While the gold explorer is encouraged by these results, its main bonus is expanding the multi-million-ounce gold resource at its Estelle Project
- Nova is up 9.68 per cent today, with shares trading for 3.4 cents each
Nova Minerals (NVA) has announced further encouraging drill results at the Officer Hill Gold Project which is part of a joint venture with Newmont Goldcorp Tanami.
Officer Hill is located 34 kilometres south-west of the Callie deposit at Dead Bullock Soak which is part of Newmont Goldcorp’s gold operations in the Tanami region.
Exploration is targeting mineralisation, that is similar to the Callie deposit, within EL23150.
Assay results received from diamond drill holes OHD0007-OHD00014 contained numerous zones of anomalous gold values including significant intercepts of 1 metres at 14 g/t of gold and 0.9 metres at 2.75g/t of gold (OHD00011), 3 metres at 1.94g/t of gold including 1 metre at 4.36g/t of gold (OHD0010) and 1 metre at 1.44g/t of gold (OHD0007).
The mineralisation consists of shear zone hosted quartz-chlorite-pyrite veins within variably bedded sandstone and laminated siltstones.
Nova Minerals Managing Director Avi Kimelman is encouraged by the latest results.
“The exploration effort was designed to test a wide area and map out the larger footprint of the system,” Avi said.
“The continued results provide encouragement to Nova and is a testament to Newmont Goldcorp’s ability to effectively and efficiently evaluate the tenement,” he added.
Aside from Officer Hill, Nova has projects across the U.S., Canada and Australia. Two key projects include its Estelle Gold Project in Alaska, which holds some of North America’s largest gold deposits, and its majority-owned Snow Lake Resources- a lithium project in Canada.
According to the Managing Director, the results at Officer Hill are considered a “bonus.”
The company is maintaining its core focus on expanding its Estelle Project’s maiden 2.5 million ounces inferred gold resource.
Nova is up 9.68 per cent today, with shares trading for 3.4 cents each at 3:45 pm AEDT.