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Nova Minerals Ltd — Interim / Quarterly Report 2019
Jan 27, 2020
34115_rns_2020-01-27_16bb10e1-0bdf-4372-b4fc-b03bf2c3dbf0.pdf
Interim / Quarterly Report
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QUARTERLY REPORT
Quarter ended 31 December 2019
28 January 2020
NOVA MINERALS LIMITED ASX: NVA FSE: QM3
Nova Minerals Limited (ASX:NVA FSE:QM3) is a minerals explorer and developer focused on gold and lithium projects in North America.
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Board of Directors: Mr Avi Kimelman Managing Director / CEO
Mr Louie Simens
Executive Director
Mr Avi Geller
Non-Executive Director
Mr Christopher Gerteisen Non-Executive Director General Manager Estelle / North America
� QUARTERLY REPORT 31 DECEMBER 2019
Please find enclosed the Quarterly Activities and Appendix 5B for the three month period ended 31 December 2019.
HIGLIGHTS
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2.5 Million Ounce Maiden Gold Resource at Estelle
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Discovery of High Grade Bulk Starter Pit at Estelle Gold
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Phase one Leach studies demonstrates Exceptional Gold Leach Recoveries Averaging 76% at the Korbel Deposit
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Continued Exploration Success with priority targets set on the Estelle Gold Property
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Drilling Program Plan Complete � Estelle Snow Road Construction Begins for 2020 drill programme
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Camp site procurement and staged for freighting to project site.
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Nova expands Estelle Gold Project area by 86% and Critical path to major milestones confirmed
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Snow Lake Signs Major MOU to Fast Track Lithium Development
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Logistics Assessment for majority-owned lithium project
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Nova Divests Interests in HPA Project
SUBSEQUENT EVENTS
Company Secretary: Ian Pamensky
Management: Mr Dale Schultz Technical lead / Chief Geologist
Mr Brian Youngs Head of Exploration and Logistics
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Contact:
Nova Minerals Limited Suite 602, 566 St Kilda Rd Melbourne, VIC, 3000
P: +61 3 9537 1238
W: www.novaminerals.com.au E: [email protected]
-
Successfully completing a scaled back share placement to raise $4.3 million, before costs to several Institutional and Sophisticated investors
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Drilling contract awarded to Tier One Company Ruen Drilling Inc., mobilization of rigs underway.
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Nova Earns 70% interest in the Estelle Gold Camp through stage 3 expenditure ( ASX: 20 November 2017 )
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Agreement now �������ca���� e�ca�a�e� N��a�� �������� �� c������e fast track development to earn 85% ownership over the very near term
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Ore Sorting Consultant Engaged to Accelerate Development at the Estelle Gold District
Yours faithfully,
Avi Kimelman
Managing Director / CEO Nova Minerals Limited
Report for quarter ended 31 December 2019
EXECUTIVE SUMMARY
Nova Minerals Limited (�N��a� �� ��e �C���a���) c������ed ��� �a�� -track exploration strategy at the district scale Estelle Gold Project in Alaska, achieving a significant milestone with the release of a JORC compliant 2.5Moz maiden inferred resource at its oxide Korbel prospect ( Figure 1 and 2 ) in the September quarter ( ASX: 11 September 2019 ) to outline the size and scope of the project area.
In addition, Nova announced exceptional gold leach recoveries averaging 76% at the Korbel Gold Deposit ( Table 1 ). All initial metallurgical test-work results are consistent ���� N��a�� e��ec�a���� ��a� �������� a �����e ��� �����, b��� ������, �ea� �eac� mining operation. ( ASX: 30 December 2019 )
Furthermore, The resource development drilling program will initially target the � Starter Pit � a� K��be� B��c� B�� Pad� 3 a�d 4 ( Figure 4 ). The location of Pad 3 is within the vicinity of a high grade intercept of 27.6 g/t Au over 1.5 metres returned from hole OX-RC-16 drilled in the summer of 2019 1m ( ASX: 02 September 2019 ). In addition, re-sampling of hole SE12-004, also in the vicinity of Pad 3, returned a broad intercept of 1.20 g/t Au over 70.1m ( ASX: 02 September 2019 ). Drilling from Pad 3 will continue to expand the Resource laterally and at depth by targeting mineralisation down to the 500m level. The additional data density from drilling Pad 3 and 4 will also increase confidence of the Resource and shift tonnes from Inferred into the Measured & Indicated (M & I) categories. The global objective is to push the �S�a��e� P��� ���a�d� a �ea��b����� ���d� �� 2021 ( ASX: 02 September 2019 and 9 December, 2019 ). Nova has also defined outside drill targets at Korbel within Blocks A, C, D, and Cathedral ( Figure 5 ). Across the claim block, additional significant targets have been identified at the RPM and the Shoeshine prospect. ( ASX announcement: 9 December 2019 ).
Nova controlled entity Snow Lake Resource Ltd continued to progress its strategic Discussion, with Company executives attending strategic meetings in Manitoba together with down stream spodumene participants, to further advance interest from such strategic parties for the potential of a relatively quick to cash flow Direct Shipping Ore (DSO) operation. Furthermore, the company has engaged with the mines branch to commence to approval process, local mining contractors and oresorting engineering firm to fast track development and have the project development ready when lithium market conditions permit.
As we look forward to amplifying our exploration and project development efforts across both projects in 2020, we are committed to keeping our shareholders constantly updated on our progress.
ESTELLE GOLD PROJECT (70% JV interest, earning up to 85%)
N��a M��e�a�� L����ed (�N��a� �� ��e �C���a���) continued its fast-track exploration strategy at the district scale Estelle Gold Project in Alaska, achieving a significant milestone with the release of a JORC compliant 2.5Moz maiden inferred resource at its oxide Korbel prospect ( Figure 1 and 2 ) in the September quarter (ASX: 11 September 2019) to outline the size and scope of the project area. The Company was pleased to announce the discovery of high grade ���d �a�e��a� ��� a �S�a��e� P��� scenario within Block B of the Oxide Korbel deposit from a phase 1 resource drilling Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
program. Assays within this zone returned grades of up to 27.6 g/t Au within broad intercepts of 70.1m grading 1.20 g/t Au. Mineralization within the defined resource area remains open at depth and length (ASX: 2 September 2019) ( Figure 3 ). The maiden resource is one of 15 known high priority prospects across the project area that the company intends to explore by utilising its prioritised systematic exploration strategy while continuing to increase the resource at the oxide Korbel deposit both in size and confidence levels. RPM being is one of several highly ranked advanced prospect with drill intersections including 1.02g/t Au over 120.40 m . (ASX: 17 September 2019) ( Figure 6 )
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Figure 1. Plan view map of the Inferred Resource Estimate block model of the Oxide Korbel gold deposit
25 Samples Au_FA AuCN_2hrAuCN_12hr AuRec_2hr AuRec_12hr Average 1.23 0.77 0.91 63% 76% Table 1. Summary of leach recovery Results
Interpretive 3D representations of the Oxide deposit area below illustrate topography and the Resource model enveloped by the Chargeability anomaly. Faults have been added to the model. Important to note are Targets C and D which are part of the same mineralized system and have not been drill tested to date. These targets remain open for further significant resource growth.
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
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Figure 2. Oxide Deposit Area Interpretation
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Figure 3. Cross Section 7500 N illustrating the high-grade intervals encountered
during the 2019 drilling campaign.
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
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Figure 4. Priority Set Up - PAD 3 and 4 Starter Pit Location Oxide Korbel Deposit Mineralization Style
The mineralization is characterized by a conjugate set of sub- to centimeter scale, commonly sheeted quartz veins. These gold-bearing veins are mineralized with arsenopyrite, pyrite and pyrrhotite and the host intrusive rocks to the veins are mineralized with disseminated sulfides. Mineralization has also been noted within the country rock adjacent to intrusive host rocks. The mineralized bodies are similar in grade, style of mineralization, deposit type and tonnage potential to the Fort Knox and the Eagle deposits which are also located in the Tintina Gold Belt of the Northern Cordillera.
Similar IRGS deposits in the region is the 9.2 million oz Au Fort Knox mine or the 6.0 million oz Au Dublin Gulch project both located within the Tintina Gold Province ( Figures 5 ) ( ASX: 19 June 2019 )
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Figure 5: Gold Veins from the Estelle Gold Project, Alaska - Gold Veins from
IRGS Au deposit in the Tintina Gold Province
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Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
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Figure 6. RPM Location Map
Indicative exploration and development timetable for Estelle Gold Project
As outlined above, after successfully confirming its maiden resource at the Estelle Project, the Company plans to fast track exploration at the Project, with a view to progressively upgrade and expand the resource base. The Company's funds will be invested in a series of ongoing exploration campaigns - including targeting, mapping, � geophysics and drilling programs across the district-scale Estelle Project.
See Table 2, below, for an indicative timeline of key upcoming activity planned for the Estelle Gold Project.
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Table 2. Indicative 2020 Drill Program, Resource Growth & Development Pipeline
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
Prioritised Systematic Exploration Strategy
T�e C���a���� �a��ed a�d ���������ed ����e�a��c e�����a���� ���a�e�� a�d ac������e� at Estelle are ���ded b� a� e�����a���� �P���ec� P��e���e� ���ce�� �� �a�����e ��e probability of multiple major discoveries ( Table 3 )( Figure 7 and 8 ). Each Milestone is defined by a specific deliverable and has each criteria needs to be ticked to determine which prospect must pass through before moving to the next Milestone. Economic criteria and probability of success increase as projects move along the pipeline. The methodology helps to ensure work is carried out across all stages of the process, cost are kept minimal and that focus is kept on the best quality targets and that the pipeline is kept full with early Milestone projects.
EXPLORATION PROGRAM Big Picture (Historical Data Review) Airborne geophysics Soil Sampling Alteration Mapping IP Surveys overlay of Alteration Zone Target Prioritisation RC and/or Diamond Drilling
Table 2: Prioritised Systematic Exploration Strategy
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Figure 7: Estelle Project Pipeline
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
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Figure 8. Location of known prospects to be followed up
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Figure 9. Estelle Location Map
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
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Figure 10. The Tintina Gold Belt
THOMPSON BROS. LITHIUM PROJECT � MANITOBA, CANADA ( 73.8% Interest in Snow Lake Resources Ltd)
Nova Minerals Limited 73.8% held subsidiary, Snow Lake Resources Ltd. (� Snow Lake �), owns 100% interest in the Thompson Bros. Lithium Property in Wekusko Lake, Manitoba. Capital allocation is an everyday discussion within the Nova Group to get best returns in the short, medium and long term for its investors. The Directors and lead management have an opportunity to fast track the Thompson Brothers Lithium Project to cash flow in a very short period.
As outlined above, the advantages in allocating financial and human resources to advance the project far outweigh listing the company at this stage. The company will look at increased valuation when lithium markets are more favourable. With Snow Lake Resources Ltd passing all criteria to be listed, the company can list at any time and will do what will create best value with timing being key to this, for all stakeholders.
About the Thompson Bros. Lithium Project
The Thompson Bros. Lithium Project is located 20 kilometres east of the mining community of Snow Lake, Manitoba. The main highway between Thompson and Flin Flon and rail connecting Winnipeg and the seaport of Churchill both pass 40 km south of the property. Together with the 100% owned Crowduck project the total landholding
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
is 5229 ha across all claims. Manitoba is consistently ranked one of the top mining jurisdictions in the world and electricity costs are amongst the lowest in North America. The project is well advanced and with a maiden Inferred Resource of 6.3 Mt @ 1.38% containing 86,940 tonnes of Li2O with an additional exploration target of 3 to 7 Mt @ between 1.3 and 1.5% Li2O in the immediate area of the resource. Initial metallurgical test work demonstrates the project can produce a concentrate material of 6.37% Li2O using standard metallurgical laboratory test techniques. The company is currently fast tracking development works to bring the project to cash flow in the near term.
Operational Update
On Oct 12, 2018 Frank Hrdy of CanMine brought his Differential GPS to Snow Lake Manitoba to the Thompson Brothers Lithium project site to survey in all available drill hole. Not all holes were surveyed due to holes inaccessible, these holes will be surveyed during the winter months. The bulk of the holes the cover the heart of the resources were located and surveyed and this data will be used to support the maiden NI43-101 Indicated Resource estimate.
Site Visit � In addition to survey of drill collars, Frank Hrdy of CanMine has now completed a site visit at the same time. As part of his site visit Frank was able to use the DGPS and survey in the perimeter of the surface exposure of the central spodumene dyke. This exposure falls within the deposit domain defined by the block modelling. This survey will be used to define the geometry of the Bulk test pit sampling.
� Core Logging/External Lab Check All the infill core logging and core cutting requested by Frank Hrdy of CanMine consulting. Snow Lake now has all the ICP chemistry back from The Saskatchewan Research Council ( SRC ). This data will be used to additionally support the planned maiden NI43-101 Indicated Resource estimate. As a last step Frank has recommended a sub set of sample from our TBL core library be sent to SGS (SGS are experts at the world's leading testing, inspection, verification and certification company) as an external laboratory check on the analytical results produced by SRC. These samples have now been pulled by SRC and sent to SGS for testing.
� Indicated Resource Study Now that Snow Lake, its consultants and external laboratory have all the data in hand for the recourse study Snow Lake Resources will now process and validate all collected data. Once this phase of data verification has been completed we will pass the data back to CanMine for the final models and publication of a NI43-101 Indicated Resources.
� Ore Sorting Snow Lake engaged Brent Hilscher of DRA Global. DRA Global is a diversified global engineering, project delivery and operations management group. DRA will assist in the design of an effective Ore-Sorting strategy for the Thompson Brothers Lithium Project. Ore Sorting utilizes Lasers and X-rays to help separate out waste material from the Spodumene Pegmatite thereby increasing the overall grade of the final product at a low cost per tonne. Snow Lake has collected 120 scoping �a���e� ���� ��e c���a���� d���� c��e ��b�a��. T�e�e ���� be �e�� �� S�e��e�� �� ��e Kentucky for analysis. The company also created four- (4) be�c� �e�� �B��� Sa���e�� from the existing core library. This will be used as trial material at Steinert on the full-
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
scale ore-sorting machine once DRA Global concludes the appropriate algorithm for sorting.
Saskatchewan Research Council � As part of the Ore-Sorting strategy the company will need a higher degree of understanding of the mineral assemblage of ��e S��d��e�e Pe��a���e��. T�e c���a�� �a� c���ec�ed ���e c��e �a���e� ���� ��e c���a���� c��e ��b�a�� a�d �e�� ��e� ���� SRC �� Sa��a����. T�e� ���� commence a QEM-SCAN petrography analysis of the core sample and provide DRA a report on the mineral assemblage of the pegmatite. From the nine samples the company will select three samples for microprobe analysis of the various mineral phase. These studies will give the company an understanding of the mineral chemistry of the feldspar phases. This will help support the X-Ray sorting works, as there may be a chemical element that the X-Ray sorter can focus on to eliminate the feldspars from the spodumene pegmatite feed.
As part of the Bulk Sample program for 2020, the company will also provide samples to SRC to conduct ABA testing. Acid - base accounting (ABA) is an analytical procedure that provides values to help assess the acid -producing and acid - neutralizing potential of rocks prior to large-scale excavations.
� Blast Pit/Bulk Sample Furthermore, now that the company has the DGPS data in hand, the company can construct and ore outline that can be used in the Bulk Sample as part of the blast pit. The company has had some initial contacts with the Mines Branch on requirement for an Advanced Exploration Permit (AEP); with drafting the AEP the company will incorporate all considerations for Environmental Protection and Closure Plans. Submissions to the Mines Branch are expected to be lodged in due course.
� Strilkiwski Contracting Ltd Snow Lake has signed a non-binding Letter of intent with Strilkiwski Contracting Ltd. The purpose of this letter (the "Letter of Intent") is to set forth an understanding between Snow Lake Operation Limited. and Strilkiwski Contracting Ltd. for the upcoming 2019/20 blast pit, permitting and mine closure permits on its Thompson Brothers Lithium Project and allow the ability of both parties to share information. Snow Lake Operation Limited. and Strilkiwski Contracting Ltd. will additionally in good faith negotiate a potential ongoing Engineering, Procurement and Construction (EPC) contract for further mining upon mine approvals and scope of works established. Our aim with this LOI is to further our relationship and begin the possibility of formally signing binding contracts.
Strilkiwski Contracting Ltd. is in the business of supplying, processing and distribution of aggregate materials as well as a variety of road building services and other heavy civil construction activities throughout central, western and northern Manitoba. They have a proactive approach toward safety and believe it should be a number one priority.
Tanco Mine Off Take � Dale Schultz and Christopher Gerteisen conducted a field trip to Southern Manitoba Tanco mining district. The purpose was to meet with Tanco Mining Corporation of Canada Limited. officials, and map out a future working relationship between Snow Lake Resources and Tanco Mining Corporation of Canada Limited in line with the Memorandum of Understanding (MoU) signed on 2 August 2019 ( ASX announcement: 2 August 2019 ).
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
Core Shack and Housing - As the company is now transitioning from exploration to per- ���d�c����, ��e c���a�� dec�ded ��a� SLR ����d d��� ���e ��e ����� ������ �� ��e Town of Snow Lake. A company consulting to Snow Lake has offered the use of their Office Trailer and Lake Lot for core storage. The core was moved to the Lake Lot which has brought a significant cost saving.
OFFICER HILL GOLD PROJECT (30% JV interest, Newmont Goldcorp 70%)
Nova Minerals are pleased with the further encouraging drill results at the Officer Hill Gold Project in joint venture with Newmont Goldcorp Tanami Pty Ltd (a wholly owned subsidiary of Newmont Goldcorp Corporation (Newmont Goldcorp)). The Officer Hill Project within EL23150 covers 206km2 and is located 34km southwest of the C a���e de����� a� Dead B����c� S�a� �a�� �� Ne����� G��dc����� ���d ��e�a����� �� ��e Ta�a�� �e���� �� Ne����� G��dc����� Ta�a�� O�e�a�����. T�e e�����a���� program is targeting Callie-style mineralisation within EL23150.
Assay results received from diamond drill holes OHD0007-OHD00014 contained numerous zones of anomalous gold values including significant intercepts of 1.0m @ 14 g/t Au and 0.9m @ 2.75g/t Au (OHD00011), 3.0m @ 1.94g/t Au, including 1m @ 4.36g/t Au (OHD0010) and 1.0m @ 1.44g/t Au (OHD0007) ( Figure 11 ). Mineralisation consists of shear zone hosted quartz-chlorite-pyrite veins within variably bedded sandstone and laminated siltstones. Alteration is dominated by the regional greenschist facies metamorphic assemblage. ( ASX: 5 December 2019 )
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Figure 11: Cross section (Phase 2) for the Officer Hill Project (EL23150)
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
NOVA DIVESTS INTEREST IN HPA PROJECT
Nova advised on the 18 November 2019 that the company has divested its interest Halcyon Resources Pty Ltd, which owns the Tambellup Kaolin Project to Accelerate Resources Limited (ASX: AX8) for an initial consideration of 1,335,600 ordinary shares of AX8 and subsequent milestone shares.
Further details of the sale are included in the announcement made by Accelerate Resources Limited (ASX: AX8) and can be found here: https://www.asx.com.au/asxpdf/20191118/pdf/44bnwl1zdfxw5n.pdf
Streamlined Competent Person Statement
The information in the announcement dated 02 September 2019 and 9 December 2019 that relate to Exploration Results, Exploration target and JORC Resource estimate is based on information compiled by Mr Dale Schultz. Mr Dale Schultz, Principle of DjS Consulting, who is Nova groups Chief Geologist and COO of Nova Minerals subsidiary Snow Lake Resources Ltd., compiled the technical information in this release and is a member of the Association of Professional Engineers and Geoscientists of Saskatchewan (APEGS), which is ROPO, accepted for the purpose of reporting in accordance with ASX listing rules. Mr Schultz has sufficient experience relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Pe���� a� de���ed �� ��e 2012 ed����� �� ��e �A����a��a� Code for Reporting of E�����a���� Re�����, M��e�a� Re����ce� a�d O�e Re�e��e��. M� Sc����� c���e��� �� the inclusion in the report of the matters based on information in the form and context in which it appears.
The Exploration results were reported in accordance with Clause 18 of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (2012 Edition) (JORC Code).
Nova Minerals confirms in the subsequent public report that it is not aware of any new information or data that materially affects the information included in the relevant market announcements on the 02 September 2019 and 9 December, 2019 and, in the case of the exploration results, that all material assumptions and technical parameters underpinning the results in the relevant market announcement continue to apply and have not materially changed.
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
SUBSEQUENT EVENTS
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The company successfully completing a Share Placement to raise $4.3 million, before costs. Nova is now well funded to continue its progression of the Korbel deposit that supports a future low strip, bulk mining, heap leach mining operation and for working capital purposes.
-
Nova announced the engagement of a Tier One drilling contractor, Ruen Drilling I�c. (R�e�). R�e��� e��e����e �� d�a���d d������� ���� a����� ���� ��e C���a���� progression of the Korbel deposit to a future low strip, bulk minable, heap leach gold operation.
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Nova confirmed that Nova now has a 70% interest in the Estelle Gold Camp through surpassing the stage 3 expenditure requirements. The Company expects to earn 85% interest in the project with current planned expenditure in the very near term with current expenditure planned ( ASX: 20 November 2017
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N��a e��a�ed DRA G��ba� (�DRA�) �� c��d�c� P�a�e 1 a�d 2 ��e ������� �e�� - work to continue its progression of the Korbel deposit towards a future low strip, bulk minable, heap leach operation (ASX: 17 January 2018). The objective of the study through 2020 is to assess the suitability of sorting applicable to the specific style of mineralization contained at Korbel. It will also involve test work, design, management and supervision to determine ore sorting amenability. Additionally, the study will assess the overall impact of the ore sorting circuit in a future flowsheet. This will include completion of a dynamic simulation in phase 2 to establish ore sorting stockpile and ore sorting requirements for the optimal CAPEX, OPEX, Operability and Maintainability of the overall process plant. High level deliverables will include generation of process mass and water balances, mechanical equipment list, and a concept level (AACE Class 5) CAPEX estimate for the entire plant. Nova recognizes the need for sorting studies early on in the mine development cycle. These kinds of studies help to keep moving the project towards Pre-Feasibility. In addition the sorting study will run concurrently with the 2020 Resource drilling programme. Subject to drilling and positive results, Nova sees various processing options at Korbel. These options include 1) heap leach, 2) carbon-in-pulp (CIP) circuit or 3) a combination of the two.
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The milestones achieved this Quarter reinforces the Company is genuinely on track and continues delivering on its strategy of creating value for shareholders. Nova remains confident that key upcoming milestones will prove successful to demonstrate the resource and exploration scale of the District Scale Estelle Gold Project and the further potential to maintain its fast track strategy through Snow Lake on the Thompson Brothers Lithium Project.
N OVA�S TENEMENT HOLDINGS AS AT 31 MARCH 2019
A ���� �� N��a�� Te�e�e�� H��d���� a� a� ��e e�d �� ��e Quarter is presented in Schedule of tenements with additional notes below.
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
CORPORATE
PLACEMENT, SHARE PURCHASE PLAN AND EXERCISE OF OPTIONS
Subsequent to the end of the quarter, on the 15 January 2020 the Company successfully completed a Share Placement to raise $4.3 million, before costs. Nova is now well funded to continue its progression of the Korbel deposit that supports a future low strip, bulk mining, heap leach mining operation and for working capital purposes.
SECURITIES ON ISSUE AT THE DATE OF THIS REPORT
| SECURITIES ON ISSUE AT THE DATE OF THIS REPORT | |
|---|---|
| Issued Shares | 1,023.607m |
| Listed Options (NVAO) [OPTIONS EXP 31/08/20 @ 3.25 CENTS] |
490.378m |
| Unlisted options [EXP 19/09/2022 @ 4C] | 61.0m |
| Unlisited options [EXP 28/10/2022 @ $0.056] | 1.5m |
| Unlisited options [EXP 28/01/2023 @ $0.06]* | 2.5m |
| Unlisited options [EXP 28/01/2023 @ $0.06]* | 5.0m |
* Vesting conditions apply.
BOARD AT THE DATE OF THIS REPORT
| Mr Avi Kimelman | Managing Director and CEO |
|---|---|
| Mr Louie Simens | Executive Director |
| Mr Chris Gerteisen | Non-Executive Director |
| Mr Avi Geller | Non-Executive Director |
| Mr Ian Pamensky | Company Secretary |
FINANCIAL POSITION
Cash available to the Company at the end of the December 2019 quarter was $1,605,000.00*.
* NOTES : Subsequent to the 31 December 2019 quarter end, the Company completed a $4.3 million share placement (before costs)
This announcement has been authorised for release by the Board.
-Ends-
Further information:
Investor Enquiries: Avi Kimelman Ian Pamensky Chairman/ MD Company Secretary E: [email protected] E: [email protected] P: +61 39537 1238 P: +61 414 864 746
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
About Nova Minerals
Nova Minerals Limited (ASX:NVA FSE:QM3) is a minerals explorer and developer focused on gold and lithium projects in North America.
Nova has a diversified portfolio of projects across the US, Canada, and Australia. Two �� ��e �e� ����ec�� ��c��de N��a�� E stelle Gold Project in Alaska, which holds some of N���� A�e��ca�� �a��e�� ���d de������, a�d ��e c���a���� �a������ -owned Snow Lakes Resources, a lithium project in Canada.
Nova aims to provide shareholders with diversification through exposure to base and precious metals and to capitalise on the growing demand for lithium-based energy storage.
To learn more please visit: https://novaminerals.com.au/
FORWARD LOOKING STATEMENT
Certain statements in this d�c��e�� a�e �� �a�be �����a�d - ������� ��a�e�e���� a�d �e��e�e�� N��a�� ���e������, ����ec�����, e��ec�a����� �� be��e�� c��ce����� a���� other things, future exploration activities. The projections, estimates and beliefs contained in such forward looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control �� N��a, a�d ���c� �a� ca��e N��a�� ac��a� �e�����a�ce �� �����e �e���d� �� d���e� materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Nova does not make any representation or warranty as to the accuracy of such statements or assumptions.
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
Report for quarter ended 31 December 2019
SCHEDULE OF TENEMENTS
| Tenement/Claim | Location | Beneficial Percentage Held |
|---|---|---|
| ADL 730362 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730363 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730364 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730365 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730366 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730367 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730368 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730369 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730370 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730371 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730372 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730373 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730374 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730375 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730376 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730377 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730378 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730379 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730380 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730381 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730382 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730383 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730384 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730385 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730386 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730387 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730388 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730389 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730390 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730391 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730392 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730393 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730394 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730395 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730396 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730397 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730398 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 730399 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 730400 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730401 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730402 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730403 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730404 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730405 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730406 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730407 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730408 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730409 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730410 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730411 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730412 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730413 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730414 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730415 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730416 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730417 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730418 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730419 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730420 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730421 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730422 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730423 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730424 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730425 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730426 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730427 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730428 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730429 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730430 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730431 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730432 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730433 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730434 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730435 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730436 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730437 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730438 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 730439 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 730440 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730441 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730442 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730443 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730444 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730445 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730446 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730447 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730448 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730449 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730450 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730451 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730452 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730453 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730454 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730455 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730456 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730457 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730458 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730459 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730460 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730461 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730462 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730463 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730464 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730465 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730466 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730467 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730468 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730469 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730470 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730471 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730472 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730473 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730474 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730475 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730476 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730477 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730478 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 730479 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 730480 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730481 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730482 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730483 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730484 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730485 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730486 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730487 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730488 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730489 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730490 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730491 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730492 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730493 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730494 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730495 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730496 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730497 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730498 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730499 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730500 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730501 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730502 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730503 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730504 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730505 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730506 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730507 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730508 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730509 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730510 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730511 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730512 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730513 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730514 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730515 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730516 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730517 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730518 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 730519 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 730520 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 730521 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726071 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726072 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726073 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726074 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726075 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726076 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726077 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726078 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726079 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726080 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726081 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726082 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726083 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726084 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726085 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726086 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726087 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726088 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726089 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726090 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726091 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726092 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726093 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726094 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726095 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726096 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726097 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726098 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726099 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726100 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726101 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726102 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728676 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728677 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728678 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726103 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726104 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 726105 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 726106 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726107 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726108 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726109 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726110 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726111 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726112 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726113 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726114 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726115 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726116 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726117 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726118 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726119 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725949 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725950 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726120 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726121 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726122 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726123 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726124 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726125 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726126 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726127 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726128 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726129 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726130 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726131 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726132 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726133 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726134 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726135 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726136 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726137 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726138 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725951 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725952 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725953 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725954 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 725955 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 726139 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726140 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726141 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726142 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726143 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726144 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726145 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726146 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726147 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726148 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726149 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726150 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726151 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726152 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726153 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726154 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726155 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726156 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726157 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726158 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725940 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726159 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726160 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726161 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726162 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726163 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726164 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726165 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726166 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725941 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725942 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725943 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726167 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725944 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725945 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726168 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726169 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726170 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726171 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 726172 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 726173 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725946 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725947 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725948 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726174 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726175 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726176 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726177 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726178 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726179 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 727286 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 727287 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 727288 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 727289 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728679 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728680 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728681 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728682 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728683 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 728684 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726180 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726181 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726182 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726183 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726184 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726185 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726186 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726187 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726188 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726188 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726190 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726191 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726192 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726193 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726194 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726195 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726196 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726197 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726198 | Alaska,USA | 70%(JV,earningupto 85%) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| ADL 726199 | Alaska,USA | 70%(JV,earningupto 85%) |
|---|---|---|
| ADL 726200 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726201 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726202 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726203 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726204 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726205 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726206 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726207 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726208 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726209 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726210 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726211 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726212 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726213 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726214 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726215 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 726216 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725956 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725957 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725958 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725959 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725960 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725961 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725962 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725963 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725964 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725965 | Alaska,USA | 70%(JV,earningupto 85%) |
| ADL 725966 | Alaska,USA | 70%(JV,earningupto 85%) |
| (MB1052) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB1053) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (P3203F) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (P3033F) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB6301) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB6303) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (P3035F) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (W49853) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (P2818F) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (P7463B) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (P7464B) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
| (W47380) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
|---|---|---|
| (W47378) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB6305) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB5737) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB5736) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB5735) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB9830) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| (MB12130) | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13493 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13494 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13495 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13496 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13497 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13498 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13499 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13500 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13501 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13502 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13503 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13504 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13505 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13506 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13507 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13508 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13509 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| MB13510 | Manitoba,Canada | 73.8%(Interest in Snow Lake) |
| EL23150 | NT,Australia | Newmont Goldcorp70% / Nova 30% |
Nova Minerals Ltd. Suite 602, 566 St Kilda Rd, Melbourne VIC 3004 +61 3 9537 1238
Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report
+Rule 5.5
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16
Name of entity
Nova Minerals Limited (ASX Code: NVA)
ABN
Quarter ended (�current quarter�)
84 006 690 348 31 December 2019
| Consolidated statement of cash flows | Current quarter $A�000 |
Year to date (6 months) $A�000 |
|---|---|---|
| 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (e) administration and corporate costs (f) Legal, audit, ASIC , ASX , share registry fees 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Research and development refunds 1.8 Other (a) GST, (b) Payroll Taxes 1.9 Net cash from / (used in) operating activities |
(323) (451) (68) (1) - (12) |
(1,214) (899) (246) (1) 23 (12) |
| (855) | (2,349) |
- See chapter 19 for defined terms
1 September 2016
Page 1
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Current quarter $A�000 |
Year to date (6 months) $A�000 |
|---|---|---|
| 2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets 2.2 Proceeds from the disposal of: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities |
(88) (71) - |
(88) (71) (80) |
| (159) | (239) | |
| 3. Cash flows from financing activities 3.1 Proceeds from issues of shares 3.2 Proceeds from issue of convertible notes 3.3 Proceeds from exercise of share options 3.4 Transaction costs related to issues of shares, convertible notes or options 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Share buy back 3.10 Net cash from / (used in) financing activities |
- - - - - - - - |
3,008 150 - - - - - - |
| - | 3,158 |
- See chapter 19 for defined terms
1 September 2016
Page 2
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| Consolidated statement of cash flows | Current quarter $A�000 |
Year to date (6 months) $A�000 |
|---|---|---|
| 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above) 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period |
2,630 (855) (159) - (11) |
1,031 (2,349) (239) 3,158 4 |
| 1,605* | 1,605* |
| * NOTES: Subsequent to the 31 December 2019 quarter end, the Company completed a $4.3 million share placement (before costs) |
* NOTES: Subsequent to the 31 December 2019 quarter end, the Company completed a $4.3 million share placement (before costs) |
* NOTES: Subsequent to the 31 December 2019 quarter end, the Company completed a $4.3 million share placement (before costs) |
|---|---|---|
| 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts |
Current quarter $A�000 |
Previous quarter $A�000 |
| 5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) |
1,605 - - - |
2,630 - - - |
| 1,605 | 2,630 | |
| 6. Payments to directors of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to these parties included in item 1.2 118 6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3 - 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2 |
||
| Current quarter $A'000 |
||
| 118 | ||
| - |
The amounts included at 6.1 relate to payments for the CEO remuneration, executive director fees and payments for non-executive director fees. All payments were made in the ordinary course of business.
- See chapter 19 for defined terms 1 September 2016
Page 3
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
| 7. | Payments to related entities of the entity and their | Current quarter | |
|---|---|---|---|
| associates | $A'000 | ||
| 7.1 | Aggregate amount of payments to these parties included in item 1.2 | - | |
| 7.2 | Aggregate amount of cash flow from loans to these parties included | - | |
| in item 2.3 | |||
| 7.3 | Include below any explanation necessary to understand the transactions included in | ||
| items 7.1 and 7.2 |
| 8. Financing facilities available Add notes as necessary for an understanding of the position Total facility amount at quarter end $A�000 Amount drawn at quarter end $A�000 8.1 Loan facilities 8.2 Credit standby arrangements 8.3 Other (please specify) 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well. |
Total facility amount at quarter end $A�000 |
Amount drawn at quarter end $A�000 |
|
|---|---|---|---|
| 9. Estimated cash outflows for next quarter |
9. Estimated cash outflows for next quarter |
9. Estimated cash outflows for next quarter |
$A�000 | $A�000 | $A�000 |
|---|---|---|---|---|---|
| 9.1 Exploration and evaluation 9.2 Development 9.3 Production 9.4 Staff costs 9.5 Administration and corporate costs 9.6 Total estimated cash outflows |
2,000 - - - 400 |
||||
| 2,400 | |||||
| 10. Changes in tenements (items 2.1(b) and 2.2(b) above) |
Tenement reference and location |
Nature of interest | Interest at beginning of quarter |
Interest at end of quarter |
|
| 10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced |
Refer to activities report | ||||
| 10.2 Interests in mining tenements and petroleum tenements acquired or increased |
Refer to activities report |
- See chapter 19 for defined terms
1 September 2016
Page 4
Appendix 5B
Mining exploration entity and oil and gas exploration entity quarterly report
Compliance statement
-
1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
-
2 This statement gives a true and fair view of the matters disclosed.
Sign here: ................................ Date: ..28 January 2020......... (Director)
Print name: ...... Avi Kimelman
(Director)
Notes
-
The quarterly repor� pro�ide� a ba�i� for informing �he marke� ho� �he en�i���� ac�i�i�ie� ha�e been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
-
If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
-
Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.
-
See chapter 19 for defined terms 1 September 2016
Page 5