The directors of Nova Minerals Limited (Nova or Company) (ASX:NVA) (FRA:QM3) 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 Ltd

Nova Minerals Limited (ASX:NVA) (FRA:QM3) is an ASX-listed minerals explorer focused on lithium, gold and mineral exploration in Canada, Alaska and Australia.

The company plans to create shareholder value through two-pronged strategy:

- Capitalise on the growing demand for energy storage and the resulting demand for lithium, cobalt and nickel by fast-tracking exploration and development activities in our North American assets with particular focus on our flagship lithium project and prospective Chip-Loy Nickel Cobalt Sulphides project.

- Diversification by gaining exposure to base and precious metals through our farm-in JV at our district scale Estelle gold copper silver project and our Northern Australian gold exploration assets.

  

Contact

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



Link: NEW SPODUMENE ZONE IDENTIFIED OUTSIDE SHERRITT GORDON



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