Nova Minerals Limited Stock Market Press Releases and Company Profile
New Spodumene Zone Identified Outside Sherritt Gordon
New Spodumene Zone Identified Outside Sherritt Gordon

Melbourne, Aug 28, 2018 AEST (ABN Newswire) - The directors of Nova Minerals Limited (Nova or Company) (googlechartASX:NVA) (googlechartQM3: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 LtdNova Minerals Limited's (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) vision is to develop North America's next major gold trend. The company is focused on exploration in Alaska's 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 Victoria Gold's Eagle Mine and Kinross Gold Corporation's Fort Knox Gold Mine. The company's flagship Estelle Project has a current total estimated JORC gold resource of 9.6Moz (3Moz Indicated and 6.6Moz Inferred). Estelle is a 45km long string of 15 identified gold prospects bracketed by the Korbel deposit in the north and the RPM deposit in the south. These two deposits are currently host to extensive exploration programs.

Additionally, Nova has an indirect interest in the Canadian Thompson Brothers Lithium Project through a substantial stake in Snow Lake Resources Ltd (NASDAQ:LITM) and holds a 12.99% interest in Torian Resources Limited (ASX:TNR), a gold exploration company based in Western Australia.

https://twitter.com/novaminerals https://www.linkedin.com/company/nova-minerals-limited abnnewswire.com 


Contact

Nova Minerals Ltd
P: +61-3-9614-0600
F: +61-3-9614-0550
WWW: novaminerals.com.au



ABN Newswire
ABN Newswire This Page Viewed:  (Last 7 Days: 6) (Last 30 Days: 39) (Since Published: 4631)