Nova Minerals Limited SHARE PRICE ASX: NVA $0.023
Thompson Brothers Lithium Project
Nova Minerals Limited’ Thompson Brothers Lithium Project is located 20km east of the mining town of Snow Lake, Manitoba.
Manitoba is consistently ranked one of the top mining jurisdictions in the world, where the region has clear and transparent mining regulations.
The Thompson Brothers project consists of 18 adjoining claims covering 1829 hectares. The lithium mineralisation at Thompson Brothers is hosted in a spodumene-rich pegmatite dyke dipping sub-vertically and defined over a strike length greater than 800m.
Nova Minerals Limited is funded for the planned Thomson Brothers exploration program set to begin in Q2 2017.
With drill permits in place for our 2017 Winter Drill Program, following the completion of the ice road construction, we are on track to begin our planned drilling.
Following exploration undertaken in November 2016, results have shown we are sitting on high grade lithium up to 1.62% Li2O and confirms there is a parallel mineralised structure now known as Thompson #5 at its Thompson Brothers Lithium Project.
This parallel structure underlies the potential for Nova Minerals Limited to significantly increase the scale of lithium mineralisation at the property.
A large area of the property remains unsampled, opening the door for Nova Minerals Limited to identify further mineralisation.
Positive results has led to Nova Minerals Limited fast tracking its drilling program to confirm the historical, non-JORC compliant resource of 4.305Mt @ 1.3% Li2O.
The program will commence shortly, during the Canadian winter.
The program is envisaged to comprise 16 diamond drill holes along approximately an 800m strike of known mineralisation for a total of 3200m of drilling.
The group is experienced operating in the lithium sector, specifically in the development of lithium resources in the United States and Canada.