Logistics Assessment for majority-owned lithium project
- 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:
About Nova Minerals Ltd
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.
Nova Minerals Ltd