New Spodumene Zone Identified Outside Sherritt Gordon
Melbourne, Aug 28, 2018 AEST (ABN Newswire) - The directors of Nova Minerals Limited (Nova or Company) (
ASX:NVA) (QM3:FRA) are pleased to provide an update on the Thompson Brothers Lithium Project. A new zone of spodumene bearing outcrops has been identified as part of Sherritt Gordon (SG) pegmatite cluster.
Highlights:
- Additional course grain spodumene outcrops identified 300 m south-east of Sherritt Gordon dykes
- Prospection has defined an additional winter drill targets
- Much of the Sherritt Gordon zone and general tenement area remains untested by any previous lithium exploration
The Company's prospecting team has visited the site to undertake an initial reconnaissance field investigation to confirm the access into the pegmatite cluster in preparation for the upcoming winter drill program. Figure 1, 2, 3, and 4 (see link below) shows some of the spodumene crystals observed at the historic Sherritt Gordon pegmatite dykes and the newly discovered outcrops.
This reconnaissance level prospecting identified the new pegmatite in outcrop at surface 300 m southeast from the main SG dykes (see Figure 5 in link below). This new discovery confirms the potential of the area to host additional spodumene bearing pegmatites that could increase the existing resource base, and add significantly to the scale of the Thompson Brothers deposit. The company plans to evaluate the extent of the SG pegmatite cluster while maintaining a "fast track" approach for resources development in the district.
NVA Managing Director, Mr Avi Kimelman said:
"This new discovery is very encouraging in that it indicates a much larger area of interest for lithium-bearing pegmatites at SG, including where they may extend across a much larger area than first thought."
"The Company will draw on Dale Schultz and the field crews significant experience and expertise in lithium geology in the region, developed through the drilling and exploration programs across the Thompson Brother lithium Deposit to test the extent of the historic SG zone and newly discovered outcrops. SG could be developed concurrently as a complimentary satellite operation to the Thompson Brothers ore body to add scale and mine life. We are committed to fast tracking the TSX.V listing process and continuing our fast track development approach across the project."
To view figures, please visit:
http://abnnewswire.net/lnk/X367G3UV
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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