Logistics Assessment for majority-owned lithium project
Melbourne, Aug 19, 2019 AEST (ABN Newswire) - Minerals explorer and developer Nova Minerals Limited (
ASX:NVA)(QM3:FRA)('Nova' or 'the Company') is pleased to announce that its majority-owned company Snow Lake Resources Ltd ('Snow Lake') has entered into preliminary discussions with the Arctic Gateway Group (which is owned by First Nations and communities, Fairfax and AGT Food and Ingredients) the owners of Hudson Bay Railway for future capacity to the Tanco mine as part of the Company's initial logistics assessment.
Highlights
- Snow Lake in preliminary discussions with Railroad for capacity to the Tanco mine.
- Logistics solution further boosts the Thompson Brothers Lithium Project as a Canadian Tier 1 lithium deposit.
- Opportunity to further de-risk Snow Lake's low capex, clear path to production and cash flow strategy.
These initial discussions further builds upon a major Memorandum of Understanding Snow Lake signed with Tanco Mining Corporation of Canada Limited. [ASX Announcement: August 2 2019].
Further details are attached in the press release in link below.
Nova Minerals Managing Director, Mr Avi Kimelman said: "We are delighted that Snow Lake Resources Ltd is working proactively to fast-track our development works at the Thompson Brothers Lithium Project in line with our low capex, clear path to production and cash flow strategy.
"We are now in an enviable position with our initial maiden inferred JORC resource estimation report now initiated on the Oxide Korbel deposit (one of fifteen known occurrences) at the district scale Estelle gold project which shares geological similarities to that of Kinross' Fort Knox Gold and Victoria Gold's Dublin Gulch Eagles Gold Mine systems.
Furthermore, we look forward to updating the market on our 30% owned (Newmont Goldcorp 70%) Officer Hill Gold Project current drill campaign."
To view tables and figures, please visit:
http://abnnewswire.net/lnk/BJ16W1F0
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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