Anova Metals - AWV(ASX) News & Expert Insights from Stockhead

Anova Metals Limited (ASX: AWV) is a gold exploration business listed on the Australian Securities Exchange. Anova’s flagship asset is the Big Springs Gold Project, which is located approximately 80 miles north of Elko in Nevada, U.S. Nevada is the most prolific gold production province in the U.S. and a first class operating jurisdiction.

Gold was first discovered at Big Springs during the 1970s. Open pit mining produced approximately 386 koz but was ceased in 1993 due to the low prevailing gold price environment.

A JORC (2012) Mineral Resource estimate of 1.0 Moz (at 2 g/t) was completed for Big Springs in 2014, with a high grade component of 415 koz (at 4.2 g/t). Since then, various exploration programs have returned outstanding results at South Sammy (10.7m at 30.9 g/t), North Sammy (5.49m at 15.23 g/t) and Beadles Creek (12.2m at 8.5 g/t). These results have demonstrated the latent potential to grow existing resources significantly at Big Springs.

A comprehensive targeting study conducted on Big Springs and led by a globally leading expert in Carlin-style gold mineralisation, Dr Steve Garwin, identified 18 near mine targets to expand the current resource, and 41 district targets for prospective regional exploration. Anova plans to test these targets as part of the 2021 drilling program (scheduled to commence in early October) and future drilling programs.

Big Springs is located adjacent to the Jerritt Canyon Gold Mine. Jerritt Canyon has produced over 10 Moz of gold since commencing in the 1980s. Big Springs is fully permitted to conduct a Stage 1 mining operation at South Sammy, including open pit mining at the 601 deposit and underground mining at the 601 and 701 deposits.

KEY PEOPLE

Edward Rigg | Non-Executive Chairman

Mr Rigg has extensive experience in the execution of M&A and capital raisings for both public and private companies and is an active originator of domestic and cross border transactions for small cap through to large multinational entities and SOE’s predominantly in the metals and mining and energy sectors. He is a co-founder of Argonaut, an integrated investment house with offices in Perth and Hong Kong. Prior to establishing Argonaut, Mr Rigg was an Executive Director, Investment Banking of CIBC World Markets, a global investment bank. Mr Rigg is a 40under40 and City of Perth Business Award winner.

Mingyan Wang | Managing Director

Dr Wang has over 20 years’ experience in the mining and resources industry specialising in identifying projects, exploration, management and business development. Dr Wang is a founding director of Global Lithium Resources Pty Ltd, and former Managing Director of ASX listed Abra Mining Ltd. He has also held senior management positions in other large mining companies such as China Minmetals Corporation where he was the Project Lead – Geology & Mining in the Las Bambas Copper-Gold Mine in Peru. Dr Wang has been in Australia for more than 10 years and has extensive experience in the mining and resources sector in Australia, China and Peru.

John Davis | Non-Executive Director

Mr Davis is a geologist with more than 30 years’ experience in mineral exploration and development in Australia and Southern Africa, including gold, base metals and rare metals. He has extensive experience in the gold sector, from regional exploration, resource development through to production, including as Exploration Manager/Chief Geologist for Metana Minerals NL. He was founding Managing Director of Jabiru Metals Ltd, where he played a key role in the discovery of the Jaguar base metal deposit, and a Technical Director of Monarch Gold Mining Co Ltd.