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NVA - NOVA MINERALS LIMITED


nipper
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Nova Minerals Limited (NVA), formerly Quantum Resources Limited (QUR), is an Australian company with interests in a portfolio of mineral projects at exploration stage with focus on North America (Manitoba, Canada and Alaska, USA) and one joint venture project located in Australia that are prospective for lithium, gold, nickel, cobalt and other precious metals, base metals and REE's.

 

 

Estelle Gold Project...our prime objective is to be the next low-cost gold producer in Alaska while growing gold resources through continued development of known prospects and further discoveries.

 

 

Thompson Brothers Lithium Project

 

As resulted in depressed lithium prices and a continued slowdown in the lithium market, we have maintained the Thompson Brothers Lithium Project to be development ready in anticipation of the electric car revolution..... Our 74% owned subsidiary, Snow Lake Resources, therefore has a strong interest in proceeding with a listing process

 

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  • 8 months later...

NVA is raising capital ..... $15 million, upsized from an initial $10M, at 11c a share. Nova was trading at 14.5c on Friday.

 

The flagship asset for Nova is its Estelle Gold Project in Alaska, where recent sampling has come back with results strong enough to start the pre feasibility study and initial drill program.

 

The company also owns a controlling stake in Snow Lake Resources, a lithium project, which has filed for an initial public offering in the United States valuing it at about $US120 million.

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$12 million Funding to Propel Nova in its Growth Strategy

 

Net proceeds of the offering will be used to ramp up development and resource growth as we continue on our path towards gold production whilst further unlocking the Estelle Gold District.

Strong interest from institutional and sophisticated investors priced at 15.4% discount to 30 day VWAP ... at issue price of $0.11 per share

 

Scaled down $12 million raising will add cash on hand and will be used to ramp up ongoing drilling programs with additional rigs in order to expedite Nova's 4.7Moz Korbel Deposit to PFS, continue resource development at RPM, as well as generate drill targets to advance numerous other prospects across the Estelle Gold District. Aggressive Infill and Extension drilling is ongoing at Korbel Main which is currently focused on the high grade SE feeder zone with the goal of substantially increasing the 4.7Moz Resource (ASX: 7 April 2021) and upgrading the resource in size and confidence to expedite Project Feasibility Studies.

RPM remains on track for a Maiden Resource by late 2021 with initial results now in fire assay stage at the lab

 

4.7Moz Korbel Main remains on track for a Resource update by late 2021

 

The mineralisation remains open along strike to the North West and South East with a predicted strike length of over 3km of continuous gold mineralisation

 

Assay results pending for over 10,000m of drilling from both Korbel Main and RPM

 

 

+ Snow Lake Resources (majority owned lithium company) status update due shortly

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  • 2 weeks later...

now this is one hole, but enough to send SP up 70% today.

 

Broad zone of high grade gold intersected in drilling at the RPM North Prospect

 

➢ Drilling at RPM North Prospect returned spectacular results including:

 

â–ª RPM-005

o 373m @ 3.8 g/t Au fr 7m

o 287m @ 4.8 g/t Au fr 7m

o 241m @ 5.7 g/t Au fr 7m

o 187m @ 7.3 g/t Au fr 34m

o 153m @ 8.8 g/t Au fr 68m

o 132m @ 10.1 g/t Au fr 89m

o 123m @ 10.8 g/t Au fr 95m

o 98m @ 12.6 g/t Au fr 95m

o 86m @ 14.1 g/t Au fr 123m

o 3.0m @ 32.8 g/t Au fr 181m

o 2.6m @ 35.6 g/t Au fr 128m

o 2.4m @ 41.8 g/t Au fr 125m

o 2.4m @ 50.3 g/t Au fr 161m

o 3.0m @ 97.8 g/t Au fr 169m

 

(RPM 005 returned an overall average grade of 3.5 g/t Au over 400m from surface within the RPM North mineralized zone)

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