Anova’s focus is on the Linden Gold Project and specifically the Second Fortune Gold Mine, at which production commenced in March 2018

Anova’s focus is on the Linden Gold Project and specifically the Second Fortune Gold Mine. Anova has recently successfully completed a Feasibility Study on the development of its Second Fortune Gold Mine, and expects that project to start producing gold in early 2018.

Anova’s other Western Australian projects include the Malcolm Gold Project and the Bar Twenty Project.

Linden Gold Project

Location

The Linden Gold Project is located at the southern end of the highly endowed Laverton Tectonic Zone approximately 200km north east of Kalgoorlie and 75km south of Laverton. (Fig 1)
The Linden Gold Project is 100% owned by Anova (other than mining lease M39/500 at Linden, which is 90% owned by Anova) and includes 17 tenements (including 8 granted Mining Leases) that cover 66.8 square kilometres. These licences are within the Laverton Tectonic Zone which hosts a number of world class gold deposits including Wallaby (7.1 Moz Au), Granny Smith (1.8 Moz Au), Sunrise Dam (7.0 Moz Au). The Second Fortune Gold Mine is part of the Linden Gold Project.

Access to the Project areas is via unsealed roads from Kalgoorlie in the south and Leonora/Laverton in the north.

Figure 1: Location of Linden, Zelica and Malcolm Gold Projects

History

The Linden Gold Project contains numerous small gold workings worked from early to mid 1900’s. Most of the production was sourced from small, narrow high-grade veins with total production to date of approximately 35,000 ounces.

In 1979 the Second Fortune deposit was discovered by a trenching programme near the old Mess Fury mine, and was worked as an open pit during 1980 to 1982. (Fig 4) Following several drilling programmes the Second Fortune underground mine was developed in 1987 with a shaft sunk from the base of the open pit. The mine was developed on 2 levels with limited stoping, before the mine was closed in 1988 (due to low gold prices) with a total of 5,100 ounces of gold produced at 13.4 g/t Au.

The project was acquired by Exterra Resources in 2010 and explored by a number of drilling campaigns (Fig 3), which outlined Resources of 131,000 ounces and an Ore Reserve of 65,000 ounces (Table 1) at Second Fortune, following the completion of a Feasibility study in 2017.

Numerous other prospects, which have been the subject of limited prior exploration drilling, are located within the Linden project area and are highly prospective. (Fig 2)

Figure 2: Linden Gold Project Prospect Location Plan

Figure 3: Second Fortune Cross Section

Figure 4: Second Fortune Planned Development Levels

Malcolm Gold Project

The Malcolm Gold project is 100% owned by Anova and is located 18km to the east of Leonora and 90km to the NW of Linden/Zelica in the North Eastern Goldfields of Western Australia.

The Malcolm Project consists of granted Mining Lease M37/1164 (105 ha), over 2.0km in strike, and contains 37,900 ozs1 (Table 1) at 8.3 g/t Au in Inferred Resources. The historic North Star and Richmond Gem gold mines produced 40,000 oz of gold at an average grade of 21.03 g/t Au and 28.00 g/t Au respectively between 1894 and 1915.

Anova is reviewing data and planning further drilling to confirm and upgrade resources.

Table 1: Mineral Resources

Table 1: Mineral Resources