Anova Metals Limited (ASX: AWV) (Anova or the Company) is pleased to advise of further outstanding assay results from the 2020 diamond drilling program at its 100%-owned Big Springs Gold Project in Nevada (Big Springs).

Commenting on the further results, Anova Managing Director, Dr Mingyan (Joe) Wang, said: 'The continuing high grade results returned from the 2020 drilling program are highly encouraging. Latest intercepts received are significant in establishing the down dip extension and continuity of high grade gold grade mineralisation at the 401 deposit, South Sammy.'

This high-grade interval in ZBF-001 has successfully extended the main lode mineralisation at 401 deposit, South Sammy (which was last meaningfully drill tested in 2006) for a further approximate 30 metres. Intervals of 3.05m @ 1.06g/t and 1.52m @ 1.03g/t were also returned at shallower levels in this hole.

Multiple lower grade intervals were returned from ZBF-003 including 4.27m @ 1.14g/t and 1.1m @ 1.03g/t. The drill intercept has confirmed gold mineralisation continuity and geological modelling. Follow up drilling is planned in 2021 to define the extent of this mineralisation.

The main lode mineralisation intersected at both ZBF-001 and ZBF-003 is within Unit D, with strong alteration of silicification and sulfidation. Texture of brecciation and vuggy were observed. Unit D hosts most of the gold mineralisation at Big Springs.

The 2020 diamond drilling program at Big Springs comprised seven completed holes at North Sammy and three completed holes at South Sammy for a total of 1,702 drilling metres. Assay results have now been received for the three holes at South Sammy (401 deposit) (ZBF-001, ZBF-002a, and ZBF-003) and one hole at North Sammy (North Shoot) (BS-006).

The outstanding high grade intervals in BS-006 (5.49m @ 15.23g/t) and ZBF-002a (4.54m @ 3.98g/t) were reported to the market in Anova ASX release dated 18 January 2021.

Contact:

Tel: +61 8 9481 0389

Email: info@anovametals.com.au

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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