MPS Commissioned Research Report Nova Minerals Ltd (NVA.ASX) – Update

by Alison Sammes

Nova Minerals Report Key Points

  • Maiden 2.5Moz Inferred JORC Resource achieved in Sept 2019
  • Resource size 181m tonnes @0.43g/t Au at 0.18g/t cut-off
  • Korbel is a near-surface, large scale and low strip IRGS deposit
  • Blocks A & B are open at depth and along strike
  • Resources drilling program underway in early 2020
  • Expect resource upgrade to double current resource base
  • Follow up drilling on RPM target – 102m @1.04g/t Au
  • Estelle tenement area extended by 85% to 220km2
  • Tenements have 15 known gold prospects so far
  • Estelle value could exceed $0.20/NVA share
  • Download Full Nova Minerals Research Report here

Nova Minerals (NVA) has the Estelle Gold Camp in the premier Tintina Gold Belt that hosts >220Moz in mostly bulk tonnage but high margin deposits.

Estelle has established a 2.5Moz JORC resource on Korbel Blocks A&B and the 2020 program is targeting a further 2-5Moz from here and in Targets C&D.

Officer Hill Gold Project with Newmont showing encouraging results chasing Callie-style mineralisation in the Tanami Region gold system. 

Nova Minerals Ltd Research Report Front Page

NVA is fortunate in having a number of existing new or project mines in the Tintina Gold Belt for comparison so indications on capital and operating costs are current or recent.

Nova Minerals Ltd Research Report Comparisons with Dublin Gulch (Victoria Gold - Eagle Mine)
The geophysical work at Korbel has identified additional potential resources at Targets C and D but it is important to note that no drilling has yet tested these Targets at all.

Call me to participate.

Barry Dawes BSc F AusIMM MSAFAA

Executive Chairman
Martin Place Securities

+61 2 9222 9111

Disclaimer: This commissioned report has been written by Martin Place Securities Pty Ltd. Data has been sourced from available public information and reflects the author’s own assessments.