Korbel Gold Project

Bulk Tonnage Gold: An 8,100,000 oz Gold Resource on less than 2% of the project area.Korbel Gold

The Korbel Gold Project is located in the tenement’s north and remains wide open in all directions with potential upside.

  • 3,000,000 oz Indicated
  • 5,100,000 oz Inferred
  • More than 3km of strike which remains wide open
  • Intrusion Related Gold System (IRGS)

High Grade Feeder Zone Within Korbel Main

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Numerous Additional Interesting Targets Within the Korbel Valley

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2022 Drill Programs Focused on Increasing and Proving up the Resource

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Summary

The Korbel Main Deposit hosts an 8.1 Moz JORC-compliant total gold resource (3.0 Moz Indicated | 5.1Moz Inferred).

With more than 3km of strike, resource definition drilling and target testing will be ongoing throughout 2022 within the Korbel area where the company is confident of adding more ounces and proving up additional resources into the Indicated category.

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Geological Model

Korbel Main is a near-surface Intrusion Related Gold System (IRGS) deposit. The Tintina Gold Belt contains a number of IRGS deposits with Bulk tonnage multi-million ounces gold mineral resources:

  • Fort Knox (5.6 Moz @ 0.3 g/t Au resource) operated by Kinross (K.TSX) 8.0 Moz produced 1997-2019
  • Eagle (5.3 Moz @ 0.6 g/t Au) operated by Victoria Gold Corporation (VGCX.TSX)
  • Other types of deposits include very large porphyry copper – gold – silver deposits such as Casino (17.8 Moz @ 0.2 g/t Au and Whistler (6.4 Moz @ 0.5 g/t Au).
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Korbel Main Deposit

During January 2020, Nova Minerals’ Geological Team undertook an analysis of all available data collected during the last two field seasons (2018 and 2019). This data was plotted in plan view and domains of highly prospected areas were outlined defining strong As anomalies coincident with gold and high chargeability anomalies.

It has been established by previous fieldwork in the camp that there is a near 1 to 1 correlation with gold mineralization and high As values.

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