Thompson Brothers Lithium Project Resource Upgrade
Melbourne, June 3, 2021 AEST (ABN Newswire) - The directors of Nova Minerals Limited (
ASX:NVA) (QM3.F) (NVAAF:OTCMKTS) are pleased to announce a resource update at the Thompson Brothers Lithium Project through its majority owned subsidiary, Snow Lake Resources Ltd.
Highlights
o Mineral Resource Estimate:
- Indicated Resource Estimate of 9.08 Mt @ 1.00 % Li2O using a 0.3 % Li2O cut-off grade and;
- Inferred Resource Estimate of 1.97 Mt @ 0.98 % Li2O using a 0.3 % Li2O cut-off grade.
o Canmine Consultants and ABH Engineering as Independent Consultants in support of Maiden SK 1300 MRE Report.
o Resource entirely from a single high grade lithium bearing pegmatite dyke partially outcropping at surface which remains open along strike and to depth.
o Resource represents less than 5% of the project area. Engage Brent Hilscher of DRA Global fast progressing PEA
Snow Lake Resource CEO, Mr. Phil Gross said:
This resource update represents a major milestone in achieving our ambitions of becoming North America's first fully sustainable, carbon neutral and fully traceable lithium supplier. To date the exploration budget has been relatively modest and with the current resource limited to 5% of our property footprint, Snow Lake has the potential of being leveraged into a world class lithium producer. As we enter the tipping point of vehicle electrification, we will be in a unique position to play an important role and fully integrate into the EV industry supply chain.
To view the Snow Lake Resources announcement, please visit:
https://abnnewswire.net/lnk/092MJ5G4
About Nova Minerals Limited
Nova Minerals Limited (ASX:NVA) (FRA:QM3) is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.
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