Anova Metals Limited : - First two drill holes at South Sammy complete

Anova Metals Limited (ASX: AWV) (Anova or the Company) advises of drilling progress at its Big Springs Gold Project in Nevada (Big Springs).

The current drilling program is the first at Big Springs since early 2017. It comprises 13 diamond drill holes for a total of approximately 2,000 metres. The program consists of infill and extensional drilling of the existing 1.03 Moz Big Springs Mineral Resource1 plus active testing of new exploration targets.

The first two diamond holes at the South Sammy 401 deposit (ZBF003 and ZBF001) have now been completed to the target depth of 132.4 and 168.9 metres respectively. These holes were targeted to follow up high-grade intercepts returned from a drilling program conducted in 2005 and to test extension of the deposit towards the south-east and depth.

Mineralisation at Big Springs occurs as alteration and metals enrichment of carbonate paleozoic rocks with Mesozoic to Cenozoic intrusive events resulting in disseminated gold mineralisation. Intermediate to felsic intrusive dikes were encountered in ZBF001 at down hole depth of 85m to 89m and ZBF003 at down hole depth of 29m to 33.5m; the felsic intrusive dikes are the host rock of the high-grade mineralisation at North Sammy.

Minerals of interest that are observable in diamond core include pyrite, arseno-pyrite, calc-silicates, hematite, limonite, illite, and graphite. Sulphide mineralisation has been observed in ZBF001 within shear zones close to the intrusive dikes at the intervals of 46m to 64m, 68m to 90m, and 105m to 148m. Sulphide minerals content varied in the range of 0.5% to 10% in general. Spotty sulphide mineralisation with contents up to 20% has been observed as well. Sulphide mineralisation was found in ZBF003 at the interval of 32m to 80m, with contents varying from 2.5% to 12.5%.

Massive jasperoid alteration was developed in both ZBF001 and ZBF003 as a result of significant hydrothermal fluids interaction at the down hole depths of 89m and 82m respectively. Argillic alteration is readily identifiable at the intersection of Unit D and the Briens Fault in drill core ZBF001 at the interval of 12m to 23m. As the host to gold mineralisation at South Sammy, the observed presence of this alteration in the core is highly encouraging.

Geological logging and sampling of the drill core is ongoing. Assay results will be released to the market shortly. In relation to the disclosure of visual mineralisation, the Company cautions that visual estimates of sulphide and oxide material abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation reported in preliminary geological logging. The Company will update the market when laboratory analytical results become available.

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About the Big Springs Gold Project

The Big Springs Gold Project is a Carlin-style gold deposit located 80 km north of Elko in northeast Nevada, USA. Big Springs produced 386,000 ounces of gold between 1987 and 1993, ceasing production due to low gold prices. It is located in proximity to multiple +10 Moz resource Carlin-style gold projects within the region, including the producing Jerritt Canyon Gold Mine which is 20km south of Big Springs. Big Springs has Measured, Indicated and Inferred Mineral Resources of 16 Mt at 2.0 g/t Au for 1.03 Moz, over 50 km2 of highly prospective ground. The high-grade portion of the Mineral Resources, reported at a cut-off grade of 2.5 g/t gold, contains 3.1 Mt at 4.2 g/t for 415 koz. Big Springs is fully permitted for Stage 1 mining operations.

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