Nova Minerals Provided Operational and Canadian Listing Update

By Team Kalkine -April 15, 2019

A Mineral exploration company, Nova Minerals Limited (ASX: NVA) has provided an operational update to the market across its project portfolio. While providing the update on its Thompson Brothers Lithium Project, the company informed that the technical team’s work has been ongoing in the background and further QA/QP testing will be completed in the next few months.

The company welcomed the recent announcement and developments in the region of the Thompson Brothers Lithium Project with Sinomine Rare Metals to acquire the Tanco mine as part of the purchase of Cabot Corps specialty fluid division which was announced in February of 2019.

Further, the company also informed that Snow Lake Resources has moved to the next steps of transferring title of the Thompson Project to obtain 100% ownership and it has forwarded all consideration cash and share as per the agreements signed between the parties.

Snow Lake is seeking a Non-Offering Prospectus Listing on the Canadian Securities Exchange (CSE) and it has raised sufficient capital and float as announced in February 2019.

While providing information about Estelle Gold Camp, the company informed that after completing its exploration targeting programme over the last seasons summer period, the company’s prioritised drill programme is aiming to test all the highest- ranked prospects with a specific focus to drill Oxide North through 2019 and ready further prospects for drilling beyond 2019.

The Company also informed that it has set a prioritised systematic exploration strategy to give the Company best indication and potential to discover multiple multimillion ounce gold deposits with stringent criteria to ensure that it gets the greatest return on exploration dollars spent.

With these updates, the company has maintained its strong view that Nova Minerals should be seen through two prisms, one is as a growth story. The other is as a value play.

As per the company’s Managing Director, Mr. Avi Kimelman, the company understands that it is going through a transformational period and it has been operating in tough market conditions and a slower IPO process than expected. But despite that the company is pleased with the perseverance of the entire Snow Lake team to secure sufficient funding, float and moving to transfer 100 percent title of the Thompson Brothers Lithium Project into Snow Lake Resources Ltd in order to progress to the next stage of its IPO ambition and with a date on listing now becoming apparent.

The company is looking forward to updating the market on the Officer Hill Gold Project in Joint Venture with Newmont in the near term. The company is also looking forward to announce  more updates on Nova’s lead up and 2019 drill campaign in the near future.

At the time of writing, i.e., on 15 April 2019 AEST 2:15 PM, the stock of the company was trading at a price of A$0.015, up by 7.692% during the day’s trade with the market capitalisation of ~A$10.06 Mn.

Newmont executes JV with Nova in Tanami

July 30, 2018News Australian Mining

Newmont Mining will form a joint venture with Nova Minerals at the Officer Hill gold project in the Tanami region, Northern Territory.

The project is thought to host steeply plunging shoots similar to those at Newmont’s Tanami gold mine, according to Nova.

Newmont has completed its funding commitments for the Officer Hill joint venture agreement to take a 70 per cent share in the project.  Nova retains a 30 per cent working interest.

The two companies will establish an operating committee to progress Officer Hill, with Newmont to manage the project.

Nova managing director Avi Kimelman said, “The decision by Newmont to proceed with the joint venture agreement is a ringing endorsement of the quality of the Officer Hill gold project and its exploration upside in the Tanami region of Northern Territory, particularly with the project’s close proximity to the 400,000oz per year Tanami gold mine and located within the 13Moz Tanami endowment.

“Newmont’s commitment to the joint venture brings valuable technical expertise and insights to the project.”

Nova plans to separately release a 2018/19 exploration program for Officer Hill.

Nova Minerals Ltd (ASX:NVA) Contractor for Geophysical Surveys Engaged for Estelle Gold

WWW:novaminerals.com.auCompany Overview

Contractor for Geophysical Surveys Engaged for Estelle GoldMelbourne, April 9, 2019 AEST (ABN Newswire) – The directors of Nova Minerals Limited (Nova or Company)

ASX:NVA)

FRA:QM3) are pleased to announce the Company has engaged the services of well-regarded geophysical contractors RDF Consulting Ltd who is lead by Mr. Dean Fraser in our quest to unlock the District Scale Estelle Project. 

Mr. Fraser is well qualified to provide his services as a Geologist and geophysicist for AK Operations LLC. Mr. Fraser possesses a Bachelor of Science degree in Geology and Geophysics from Memorial University of Newfoundland and has received his certification as a Professional Geologist with the Association of Professional Engineers and Geoscientists of Newfoundland as well as the Association of Professional Engineers and Geoscientists of Saskatchewan (dormant). He also possesses nearly 25 years of experience in all aspects of grassroots and advanced mineral exploration methods. He has worked in a large variety of geological environments exploring for gold, base metals, iron, tin/tungsten and uranium in North America and internationally. Mr. Fraser further has extensive experience in performing, processing, plotting, modeling and interpreting many different types of ground and airborne geophysical surveys including Induced Polarization/Resistivity, magnetics, electromagnetics, gravity and radiometrics, in the mining exploration sector and has been provided preliminary data on the Estelle Gold assets. 

The geophysical surveys will comprise the implementation of a spectral induced polarization/resistivity survey over selected areas of the Property. A pole-dipole array will be employed using six dipoles and a 50-meter dipole spacing. These parameters will allow for a penetration depth of 150 meters in the subsurface. In-field interpretations of the data will be made with Nova Minerals Geologists on a daily basis. 

Prioritised Systematic Exploration Strategy 

The Company’s ranked and prioritised systematic exploration strategy and activities at Estelle are guided by an exploration “Project Pipeline” process to maximise the probability of multiple major discoveries (see Table 1 in link below). Each Milestone is defined by a specific deliverable and has each criteria needs to be ticked to determine which prospect must pass through before moving to the next Milestone. Economic criteria and probability of success increase as projects move along the pipeline. The methodology helps to ensure work is carried out across all stages of the process, cost are kept minimal and that focus is kept on the best quality targets and that the pipeline is kept full with early Milestone projects. 

NVA Managing Director, Mr. Avi Kimelman said: 

“We are please to have Dean join us with his vast knowledge on the current exploration program at Oxide North and South. We are extremely exciting with the enormous potential mineralisation that has been recognised on two of 15 targets but not effectively IP and drill tested, at depth and parallel to the known mineralisation where continuous mineralised structures may exist.” 

“As previously announced we are fortunate to have historic data at hand and work completed last season which have allowed us to overlay data and vector into these potential world class large tonnage ore bodies. The Estelle project area has a multiple of alterations, structures and known targets on the large tenure, the focus is on discovering a RIRG system similar to that of the Fort Knox Gold and Dublin Gulch Eagles Gold Mine with our priority drilling established at Oxide North and possibly moving onto Oxide South which in itself is looks very promising in its own right. Our prioritisation and systematic exploration strategy for major discoveries ensures that the highest quality targets with the largest potential tonnage are advanced rapidly.” 

“We are focussed on systematically unlocking a multiple of potential multi-million ounce gold discoveries across the project area.” 

The board looks forward to announcing more updates on Nova’s lead up and 2019 drill campaign in the near future. 

The 112km2 Estelle landholding sits adjacent to the Whistler project (+ 9.5 Moz AuEq) held by Gold Mining Inc. and in the same assemblage of rocks that hosts Northern Dynasty’s giant Pebble copper-gold-molybdenum-silver deposit (105 Moz Au). A direct correlation between gold grade and vein density is similarly reported at the Fort Knox (+ 4 Moz) and Dublin Gulch (+ 6 Moz) RIRGS deposits (Hart, 2007). Study results suggest that the 1) association of Au with Bi-Te, 2) association of Au with sheeted veins containing arsenopyrite, and 3) restriction of alteration to narrow selvages adjacent to veins at the Estelle Property are consistent with the genetic deposit model for RIRGS(see Note below). 

Note: Source: Ore Characterization of the Estelle Property in the South-~Central Alaska Range, Ember Flagg, University of Nevada, Las Vegas 

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Q8LJTQ5X

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.

Nova Minerals Ltd (ASX:NVA) Prepares Exploration Campaign at Estelle Gold Project

WWW:novaminerals.com.auCompany Overview

Prepares Exploration Campaign at Estelle Gold ProjectMelbourne, Mar 28, 2019 AEST (ABN Newswire) – The directors of Nova Minerals Limited (Nova or Company) (

ASX:NVA) (

FRA:QM3) are pleased to provide an update that current works are fast progressing for the forthcoming exploration program at the company’s district scale Estelle Gold Project and provide a project schedule of works. 

Planning is fully underway for the proposed 2019 Exploration Campaign at the Estelle Gold Camp with contractor procurement in its advanced stages. Following the awarding of contracts, the focus will be on mobilising the Induced Polarzation suvey (IP) crew onsite with potentially diamond drill mobilisation to follow thirty days later. The diamond drill is to test the total depth of mineralisation as outlined in figure 2(see link below). 

The 112km2 Estelle landholding sits adjacent to the 9.5M oz AuEq Whistler project (held by Gold Mining Inc.) and in the same assemblage of rocks that hosts The Pebble Partnership owned by Northern Dynasty Minerals’ giant Pebble deposit (105 Moz Au). A direct correlation between gold grade and vein density is similarly reported at the Fort Knox (+ 4 Moz) and Dublin Gulch (+ 6 Moz) RIRGS deposits (Hart, 2007). Study results suggest that the 1) association of Au with Bi-Te, 2) association of Au with sheeted veins containing arsenopyrite, and 3) restriction of alteration to narrow selvages adjacent to veins at the Estelle Property are consistent with the genetic deposit model for RIRGS deposits(see Note 1 below). 

NVA Managing Director, Mr. Avi Kimelman said: 

“We are excited about the high quality of the prospects contained within the claim group and the large scale of the Estelle gold project with a clear leverage to the gold price. This is very large project and we anticipate to aggressively explore the property with new work programs consisting of mapping, IP, and potential diamond drilling that has the opportunity to discover large scale resource blocks within last years focus area and outside at the RPM and Shoeshine occurrences.” 

“As announced on 14 February 2019, Dale Schultz and Brian Youngs will lead our Estelle Project exploration and logistics efforts and between the two of them have in excess of 60 years in project managing large exploration campaigns and projects which include time spent at Lupin Mine NWT, Hemlo Camp N. Ontario, Kori Kollo Mine Bolivia and the Condor Project in Ecuador (host of the Fruta del Norte Gold Project). With lots of preparation underway, they have done fantastic work to date in pre-planning to streamline the project and moving into the next stage of exploration.” 

“Estelle is uniquely positioned and we haven’t yet scratched the surface, with positive early signs we are particularly excited with the potential opportunity to uncover another giant deposit in Alaska. The project sits amongst some of the largest gold deposits on the planet with very large and exciting prospects, and Nova is ready to meet the challenge of exploring each of them.” 

Primary focus will be given to the Oxide occurrences, which were last drilled by Millrock Resources Inc. in 2010. During last years field season Tom Bundtzen of Pacific Rim Geological Consulting Inc. completed a first pass geological mapping of the Oxide occurrences and identified two high quality targets (ASX Announcement 3 December 2018). These targets were given the designation of Oxide North and Oxide south. The key feature of these targets is that they consist of broad envelopes containing argillic-phyllic to propylitic hydrothermal alteration. 

A group of chip samples taken by Mr Bundtzen from these alteration envelopes contains moderate (~1%) arsenopyrite mineralization (+/- pyrite, pyrrhotite, chalcopyrite and tetrahedrite) that returned moderate grades of up to 1.04 g/t Au having an average grade 0.183 g/t Au. Oxide North and Oxide South alteration envelopes measures 1300 to 1600 metres along strike and have widths of between 550 to 600 metres. Total depth extents of these alteration envelopes are unknown at this time. 

First phase will be Oxide North (see Figure 2 in link below). IP Survey will be run to site the drill platforms with more certainty. The plan is to drill 2,500 in this zone having drill holes reaching up to 600m with the aim of completing two holes per platform (collars marked in red). Upon conclusion of phase one, a follow up round of 2,500 metres will be initiated if positive results are obtained. Subject to phase two drilling the scout RC drilling will be used to infill shallow in pit mineralisation for early pit optimisation models. Once both phases of core drilling are completed an analysis will then be undertaken to determine if there is adequate data to support a maiden JORC Inferred Resources. 

Note the red box (see Figure 2 in link below) is the 2.2 – 5.3 million ounce gold exploration target released late last year. (Refer: ASX Announcement 6 December 2018) 

Third phase will target the Oxide South occurrence. Some of the best chips from Tom Bundtzen sampling came from this target. The description of the alteration is the same as the Oxide North target. Once again the IP survey will be utilized to more accurately locate the drill platforms with respect to the stronger chargeability anomalies in the subsurface. The goal is to have two holes per set up (collars marked in blue). The company aims to also establish JORC Resource estimate if sufficient data permits at Oxide South. 

During the 2019 field season Tom Bundtzen of Pacific Rim Geological Consulting Inc. will again be engaged to complete additional field mapping and prospecting in the Estelle claim group (see Figure 3 in link below). The focus this field season will be on the RPM and Shoeshine occurrence. The RPM occurrence will be of particular interest as Millrock reported in September of 2012 a drill hole intercept of 102.11 metres grading 1.04 g/t gold which contained a high grade intercept of 2.07 g/t gold over 21.94 metres (see Note 2 below). They described the geology as a broad zone of alteration in a high-level intrusive magmatic contact zone. No additional follow up exploration was ever completed by Millrock at this occurance. After the completion of the mapping at RPM and Shoeshine, Pacific Rim will be engaged to complete follow up prospecting on the 15 plus additional showings that Nova controls as part of the Estellle claim group. 

Notes: 

1 Source: Ore Characterization of the Estelle Property in the South-~Central Alaska Range, Ember Flagg, University of Nevada, Las Vegas 

http://www.abnnewswire.net/lnk/0TJYAKHR

To view tables and figures, please visit:
http://abnnewswire.net/lnk/Y5ARZ4J7

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.

Nova Minerals Ltd (ASX:NVA) Operational and Canadian listing update

WWW:novaminerals.com.auCompany Overview

Operational and Canadian listing updateMelbourne, Feb 14, 2019 AEST (ABN Newswire) – The directors of Nova Minerals Limited (Nova or Company) (

ASX:NVA) (

FRA:QM3) to provide a operational update to the market across our project portfolio. 

Snow Lake Resources Ltd (SNOW) (Thompson Brothers Lithium Project) 

The company is pleased to announce that a total of C$1.35M cash has been raised to date with the last raising and appropriate float taking place at C$0.35c. The company now has sufficient cash holdings to IPO on The Canadian Securities Exchange (CSE) and will be fast tracking this process. 

As previously announced on 19 November 2018 Snowlake Resources will own 100% of the Thompson Brothers Lithium Project and its surrounding Crowduck tenements. Nova Minerals consideration for bringing in 80% of the Thompson Brothers Lithium Project and 100% of the Crowduck property in Snow Lake will be 48,000,000 ordinary shares of the current total 64,995,226 ordinary shares to be issued which represents 73.85% of Snow Lake on an undiluted basis. The latest capital raising at C$0.35c affirms a value ascribed to Nova of C$16.8m (A$17.83m) or rounded off to A$0.023 per Nova share. 

As per announcement dated 6 August 2018 (CEO’s Letter to Shareholders) we maintain a strong view that Nova Minerals should be seen through two prisms, One is as a growth story. The other is as a value play. 

We are further pleased to update that the internal scoping works are progressing and Snow Lake Resources will update the market on operations in due course. 

Estelle Gold Project 

Planning is fully underway for the 2019 Exploration Campaign at the Estelle Gold Camp. Primary focus will be given to the Oxide occurrences, which were last drilled by Millrock Resources Inc. in 2010. During last years field season Tom Bundtzen of Pacific Rim Geological Consulting Inc. completed a first pass geological mapping of the Oxide occurrences and identified two high quality targets (ASX Announcement 3 December 2018). These targets were given the designation of Oxide North and Oxide south. The key feature of these targets is that they consist of broad envelopes containing argillic-phyllic to propylitic hydrothermal alteration. 

A group of chip samples taken by Mr Bundtzen from these alteration envelopes contains moderate (~1% ) arsenopyrite mineralization (+/- pyrite, pyrrhotite, chalcopyrite and tetrahedrite) that returned moderate grades of up to 1.04 g/t Au having an average grade 0.183 g/t Au. Oxide North and Oxide South alteration envelopes measures 1300 to 1600 metres along strike and have widths of between 550 to 600 metres. Total depth extents of these alteration envelopes are unknown at this time. 

The First Phase of this summer programs will consist of 50 plus km of Induced Polarization geophysical survey. Observable chargeability anomalies should be seen within the survey data associated with the mapped arsenopyrite domains contained within the alteration envelopes (Figure 1). It is hoped that these chargeability anomalies correspond to higher-grade gold material and would be the focus of the first pass diamond drilling. The first pass will consist of 2500 metres with a second round of 2500 metres if positive results are obtained. The company will also infill with RC drilling where suitable. During a possible Second Phase of exploration later in the summer, focus will be given to mapping and sampling the RPM and Shoeshine occurrences. In addition, the other 15 plus occurrences contained within the claim block will be prospected, sampled, and GPS’d to establish their locations coordinates for future mapping, sampling, and drilling campaigns. 

NVA Managing Director, Mr. Avi Kimelman said: 

“Despite challanging markets we are pleased with the perseverance of the team to secure sufficient funding and float in order to progress to the next stage of our IPO ambition. Snow Lake is now well positioned as we progress to IPO and look forward to introducing the Thompson Brothers Lithium Project to the North American Market and maintaining the company’s fast track development strategy.” 

“Although Nova will be a significant shareholder of Snow Lake with full board represetation. Snow Lake Resources will fund itself and act completely independent of Nova with a group of professional and independent Directors and Audit committee allowing Nova to focus it reserves on developing its Gold Assets.” 

“Dale Schultz and Brian Youngs will lead out the Estelle Project exploration and logitics and between the two of them have in excess of 60 years in project managing large exploration campaigns and projects. They have done fantastic work to date in pre-planning to streamline the project, we will keep the market updated on progress. 

“As mentioned Nova is in the process of planning its next stage of exploration and reconnaissance activities for 2019 at the district scale Estelle Gold Project as described and are currently formalating an additional exploration plan for the Officer Hill Gold Project. With projects runnning parallel, we will continue with our long term strategy of underpinning shareholder value while we offer exploration upside across our project portfolio.” 

To view tables and figures, please visit:
http://abnnewswire.net/lnk/B6H741MJ

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.

ASX Micro Cap Kicks off Canadian Lithium Drilling

PUBLISHED: 21-03-2017

The era of lithium exploration and production is well and truly upon us as the shift towards lithium-ion battery powered technologies accelerates.

By 2030, petrol powered cars could be in the minority as petrol-power is expected to be replaced by electric powered lithium-ion batteries.

This shift towards clean energy is placing an increased demand on the raw materials required to manufacture the technologies that will charge the future.

The ASX listed company on our radar today has just embarked upon a fully funded exploration program under the Northern Lights in Canada at its highly prospective lithium deposit in Manitoba, ranked one of the top mining jurisdictions in the world.

The company has now begun its drilling, having received its drill permits for its 2017 Winter Drill Program, finalised its budget, signed its contractor agreements and finalised site works on the ice road construction, trail and drill site building at its Thompson Bros Lithium Project.

With a tiny market cap of around $7 million, yet a strong financial position with over $1.2 million in the bank after a recent $660,000 capital raise, this company offers significant upside potential on the back of its current, fully funded, drilling program.

Following exploration undertaken in November 2016, results have shown the company is sitting on high grade lithium of up to 1.62% Li O and confirmed there is a parallel mineralised structure now known as Thompson #5 at its Thompson Brothers Lithium Project.

This parallel structure underlies the potential for this company to significantly increase the scale of lithium mineralisation at the property.

Furthermore, a large area of the property remains unsampled, opening the door for the company to identify further mineralisation.

With such positive results recorded, the company will fast track its drilling program over the coming weeks and months to confirm the historical, non-JORC compliant resource of 4.305Mt @ 1.3% Li O that was previously calculated.

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.

It is anticipated that current drilling will allow an initial JORC Compliant Inferred Resource to be calculated for the Project.

Of course, as with all minerals exploration, success is no guarantee – consider your own personal circumstances before investing, and seek professional financial advice.

With money in the bank and drilling underway, this little lithium explorer is looking to light things up in 2017, especially as it angles to make the most of Tesla’s plans to source lithium entirely from North America and capitalises on the positive lithium outlook for 2017 .

Premiering on The Next Small Cap 

Nova Minerals
ASX:NVA

Nova Minerals Making Strong Progress with its Exploration Assets

By Team Kalkine -May 3, 2019

Emerging resource company, Nova Minerals is engaged in mineral exploration of gold, lithium and other base metals across Northern Australia, Alaska and Canada. Its projects include Thompson Brothers Lithium project, Estelle Copper Gold Project, Farewell Terrane and Officer Hill Project.

Due to the growing demand for energy storage, the demand for battery minerals like lithium, cobalt and nickel is touching the sky. Nova Minerals Limited (ASX: NVA) intends to capitalise on this growing demand by fast-tracking exploration and development activities in its North American assets. Focused on creating value for shareholders, the company offers an unrivalled opportunity for investors seeking leverage to gold and underlying value and upside to the lithium.

The company believes that it is well positioned to take advantage of rising gold prices, while underpinning value through its interest in the Thompson Brothers Lithium Project. Focused on the exploration of lithium resources, the company is currently targeting a fast-track development strategy forthe Thompson Brothers Lithium Projectin which it possesses the rights to earn up to an 80% ownership interest (via its 100% owned subsidiary Manitoba Minerals Pty Ltd).

The company is currently in the process of listing 100% of the Thompson Brothers Lithium Project on the Canadian Securities Exchange (CSE) and along those lines, its wholly-owned subsidiary, Snow Lake Resources Ltd has already forwarded all consideration in cash and shares pursuant to the agreements signed between the parties.

Nova Minerals, in the recent past, has experienced substantial developments in the region of the Thompson Brothers Lithium Project. Lately, the company announced that Sinomine Rare Metals of Beijing is in the process of acquiring Tanco mine, which has produced spodumene, cesium and tantalum at various times through its mine life, highlighting the significance of the region.

Besides this, the company owns the rights to earn up to 85% ownership interest of the Alaskan Project Portfolio, which consists of advanced exploration projects like the Estelle Gold Project, the Chip-Loy nickel, cobalt, copper, silver project, the Bowser Creek silver, zinc, and the Windy Fork REE project.

Through its Estelle Copper Gold Project, which is a district scale project with a 2.2 to 5.3 million ounce gold exploration target and its Northern Australian gold exploration assets, the company has successfully gained exposure to the base and precious metals. At its Estelle Gold Camp, the company is planning for an exploration campaign focused on oxide occurrences, which were last drilled by Millrock Resources Inc. in 2010.

At its Tanami (Officer Hills Jv) Project, located in Northern Territory within the Tanami geological province, which hosts the world-class orogenic gold deposits, the company is progressing with Diamond Drilling with significant exploration work already completed in Q4 2018. The company has identified drill targets and is going to commence a drilling program in 2019 June quarter.

At the end of the March quarter, the company had total cash of $1,994,181. As at 31st December 2018, the company had total current assets of $2,980,04 and current liabilities of $195,520. During the half year ended 31 December 2018, the company paid $932,266 for exploration activities compared to $214,340 in the previous corresponding period, which signifies its exploration expansion activities.

At the time of writing, i.e. on 3rd May 2019, AEST 3:58 PM, the stock of the company is trading at a price of A$0.015, with a market capitalisation of ~A$11.61 million. Over last five days, the stock has soared by above 7%.

My Take on Snow Lake

Mining news and a new openness from the town

Marc Jackson / Thompson Citizen

APRIL 26, 2019 12:00 AM

Spodumene sample on the Thompson Brothers Lithium property.Photograph By DALE SCHULTZ

As I have noted in the past in this column, there has been interest in the Thompson Brothers Lithium property for nearly eight decades (since 1942). In the ensuing years, numerous companies and several successful drill campaigns have turned the property situated on the northeastern shore of Wekusko Lake into a hive of activity and a positive prospect for the otherwise struggling economy of Northern Manitoba.

In an April 15 news release, directors of Nova Minerals Limited gave an operational update on their project portfolio, wherein they announced that Snow Lake Resources (SNOW) has moved to the next step of transferring title of the Thompson Brothers Lithium Project in order for them to obtain 100 per cent ownership. “Snow Lake Resources Ltd has forwarded all consideration cash and share pursuant to agreements signed between the parties,” said Nova, further noting that they intended to have title transferred over to Snow Lake Resources, and have it certified by an independent qualified person within the NI 43-101 and initial public offering prospectus to be filed by SNOW. article continues below 

Nova added that they welcome a recent announcement and developments in the region by Sinomine Rare Metals of Beijing and their acquisition of the Tanco Mine as part of the purchase of Cabot Corps specialty fluid division announced in February 2019. The Tanco Mine is located northeast of Winnipeg, on the shore of Bernic Lake. The pegmatite there has been mined since 1968 and has produced spodumene, cesium, and tantalum at various times in its mine life. “This is a significant development for the region,” said Nova. “Given the proximity, and as the Thompson Brothers Lithium Project is the most advanced in the region, this development highlights the significance of the region and allows the potential for Snow Lake and other parties to collaborate further in establishing a center for a source of spodumene.”

The current JORC resource (a mandatory system for the classification of mineral exploration results) at the Thompson Brothers Property stands at 6.3 million tonnes at 1.38 per cent Li2O, as defined by Nova Minerals.

In relation to the ongoing saga between Waterton Resources and Hudbay Minerals, the latter company announced on April 17 that the company’s largest shareholder, Letko, Brosseau & Associates Inc. (an independent investment manager that exercises investment control or direction over approximately 35,112,398 shares or 13.4 per cent of Hudbay’s issued and outstanding shares) has confirmed that it intends to vote for Hudbay’s 11 director nominees in a proxy war between rebel shareholder Waterton Global Resource Management and the company.

The spat between the two companies has seen Waterton call for change on the board and at the helm; Hudbay countering by exposing what they term as a “track record of value destruction” on the part of Waterton. Then, Waterton responding with legal proceedings against Hudbay, alleging that the company distributed information to shareholders containing misrepresentations about Waterton that could constrain their ability to solicit shareholder proxies. Hudbay’s annual and special meeting of shareholders is to be held on May 7.

In community news, the Town of Snow Lake has taken steps towards better communication between them and the citizens of the community. They have contracted me to document and distribute meeting minutes on a twice-monthly basis. I will also word and distribute news releases in respect to issues that arise from the minutes. As well, I will design, write and edit a two-page monthly newsletter on behalf of the town, as well as set up and operate an Instagram account, which will feature photos of the town and area.

The minutes and news releases will be posted on various bulletin boards around Snow Lake, as well as being featured on the town’s webpage, Facebook page and Twitter feed. They will also be posted to the community’s independent Facebook Bulletin Board. The newsletter will be placed in all community mailboxes, on local bulletin boards, as well as posted to the social media mentioned above.

The contract is for a two-month period, beginning in May 2019. At the end of the two-month period, the community’s town council will re-evaluate the idea and decide if it will continue.

Nova Minerals Ltd (ASX:NVA) Operational and Canadian Listing Update

WWW:novaminerals.com.auCompany Overview

Operational and Canadian Listing Update

Operational and Canadian Listing UpdateMelbourne, April 15, 2019 AEST (ABN Newswire) – The directors of Nova Minerals Limited (Nova or Company) (

ASX:NVA) (

FRA:QM3) are please to provide a operational update to the market across our project portfolio. 

Snow Lake Resources Ltd (SNOW) (Thompson Brothers Lithium Project) 

The Company is pleased to announce that the technical team’s work has been ongoing in the background with further QA/QP testing to be completed over the next few months. 

Nova Minerals welcomes the recent announcement and developments in the region of the Thompson Brothers Lithium Project with Sinomine Rare Metals of Beijing to acquire the Tanco mine as part of the purchase of Cabot Corps specialty fluid division announced in February of 2019. The Tanco Mine is a pegmatite that has been mined since 1968 and has produced spodumene, cesium and tantalum at various times through its mine life. This is a significant development for the region. Given the proximity and as the Thompson Brothers Lithium Project is the most advanced in the region, this development highlights the significance of the region and allows the potential for Snow Lake and other parties to collaborate further in establishing a center for a source of spodumene. 

We are also pleased that Snow Lake Resources has moved to the next steps of transferring title of the Thompson Brothers Lithium Project to obtain 100% ownership. Snow Lake Resources Ltd has forwarded all consideration cash and share pursuant to agreements signed between the parties (ASX Announcement 19 November 2018). It is intended to have title transferred over to Snowlake and qualified by independent qualified person within the NI 43-101 and initial public offering prospectus to be filed by Snow Lake. 

Furthermore, Snow Lake Resource Ltd is seeking a Non-Offering Prospectus Listing on the Canadian Securities Exchange (CSE). Snow Lake has raised sufficient capital and float as announced on 14 February 2019. The CSE requires that an issuer have a public float of at least 150 public holders holding at least a board lot each of the security. The public float consists of shares held by people who are not related to the issuer. Each holder is subject to a four month holding escrow period prior to commencement of trade. Nova anticipates commencement of trade late in July or early August, 2019. 

Snow Lake Resources will keep its shareholders updated on operations and developments in due course. 

Estelle Gold Camp 

The 112km2 Estelle landholding sits adjacent to the Whistler project (+ 9.5 Moz AuEq) held by Gold Mining Inc. and in the same assemblage of rocks that hosts Northern Dynasty’s giant Pebble copper-gold-molybdenum-silver deposit (105 Moz Au). A direct correlation between gold grade and vein density is similarly reported at the Fort Knox (+ 4 Moz) and Dublin Gulch (+ 6 Moz) RIRGS deposits (Hart, 2007). Study results suggest that the 1) association of Au with Bi-Te, 2) association of Au with sheeted veins containing arsenopyrite, and 3) restriction of alteration to narrow selvages adjacent to veins at the Estelle Property are consistent with the genetic deposit model for RIRGS(see Note below). 

Following completion of our exploration targeting programme over the last seasons summer period, our prioritised drill programme aims to test all the highest- ranked prospects with a particular focus to drill Oxide North through 2019 and ready further prospects for drilling beyond 2019. Due to the size and nature of the project the Company has set a prioritised systematic exploration strategy to give the Company best indication and potential to discover multiple multi million ounce gold deposits with stringent criteria to ensure we get the greatest return on exploration dollars spent. 

Prioritised Systematic Exploration Strategy 

The Company’s ranked and prioritised systematic exploration strategy and activities at Estelle are guided by an exploration “Project Pipeline” process to maximise the probability of multiple major discoveries (see Table 1 in link below). Each Milestone is defined by a specific deliverable and has each criteria needs to be ticked to determine which prospect must pass through before moving to the next Milestone. Economic criteria and probability of success increase as projects move along the pipeline. The methodology helps to ensure work is carried out across all stages of the process, cost are kept minimal and that focus is kept on the best quality targets and that the pipeline is kept full with early Milestone projects. 

As per announcement dated 6 August 2018 (CEO’s Letter to Shareholders) we maintain a strong view that Nova Minerals should be seen through two prisms, One is as a growth story. The other is as a value play. 

The board looks forward to announcing more updates on Nova’s lead up and 2019 drill campaign in the near future. 

NVA Managing Director, Mr. Avi Kimelman said: 

“This is transformational period for the Company and we understand it has been tough market conditions and a slower IPO process then expected although despite these challenges we are pleased with the perseverance of the entire Snow Lake team to secure sufficient funding, float and moving to transfer 100% title of the Thompson Brothers Lithium Project into Snow Lake Resources Ltd in order to progress to the next stage of our IPO ambition and with a date on listing now becoming apparent. 

“Snow Lake is now well positioned as we progress to IPO and look forward to introducing the Thompson Brothers Lithium Project to the North American Market and maintaining the Company’s fast track development strategy with the technical team’s ongoing background desktop work and analysis maintaining this approach. We look forward to Snow Lake announcing once completed to the satisfaction of QA/QP consultants over the coming months.” 

“As previously announced, although Nova will be a significant shareholder of Snow Lake with full board representation. Snow Lake Resources will fund itself and act completely independent of Nova with a group of professional and independent Directors and Audit committee allowing Nova to focus it reserves on developing its Gold Assets with immediate focus on the district scale Estelle project.” 

“We also look forward to updating the market on the Officer Hill Gold Project in Joint Venture with Newmont in the near term.” 

Note: Source: Ore Characterization of the Estelle Property in the South-~Central Alaska Range, Ember Flagg, University of Nevada, Las Vegas 

To view tables and figures, please visit:
http://abnnewswire.net/lnk/TIND9AR2

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.

NVA Looks to Gold in Alaska as it Fast Tracks its Canadian Lithium Ambitions

PUBLISHED: 07-02-2019

Nimble ASX junior, Nova Minerals (ASX:NVA | FSE:QM3), is armed with a clutch of high-growth opportunities and a razor-sharp strategy for unlocking their value.

The cherry on top is its district-scale Estelle Gold Project with an exploration target of 2.2moz – 5.3moz in gold established on one of a number of prospects, which is situated in amply mineralised south-west Alaska — one of the most renowned mining jurisdictions in the world.

This Alaskan corner has attracted the attention of resources heavyweights Anglo American (LON:AAL), Barrick Gold (NYSE:ABX), BHP Billiton (ASX:BLT), Freeport-McMoRan (NYSE:FCX), Newmont Mining (NYSE:NEM), Teck Resources (TSE:TECK), Sumitomo Metal Mining (TYO:5713), and Rio Tinto (ASX:RIO).

Intriguingly, the Estelle Project sits adjacent to Gold Mining Inc.’s (TSX:GOLD | OTCQX:GLDLF) Whistler Project, which contains 6.3 million ounces of gold, and in the same assemblage of rocks that hosts Northern Dynasty’s 105 million ounce Pebble deposit — but without the latter’s environmental impediments.

There’s expansive scope for resource growth here — over US$5 million has been historically spent on ground works, with previous mapping, resource targeting and ground truthing previously completed by Millrock Resources (CVE:MRO) and Teck Resources.

Of further interest is $5 billion-capped Northern Star Resources’ (ASX:NST) positioning in the region. Northern Star has just acquired Sumitomo Corp’s Pogo high-grade underground gold mine in Alaska for $260 million…

So clearly there is something going on in the region and NVA wants a piece of the action.

That’s not all NVA is holding, either.

With a keen eye fixed on the soaring demand for lithium that’s associated with the rapidly accelerating electric vehicle (EV) boom, NVA is fast-tracking development of its high-grade Thompson Brothers Lithium Project in Canada’s mining-friendly central Manitoba region.

NVA has earnt up to 80% in this project (and 100% of the adjoining Crowduck Lithium Project) via its subsidiary, Snow Lake Resources.

This flagship project is already well advanced, with a maiden Inferred Resource of 6.3 million tonnes grading 1.38% lithium for 86,940 tonnes of the contained metal. Initial metallurgical test work shows that this project can produce a concentrate material of 6.37% lithium.

NVA has a remaining exploration target of 3 to 7 million tonnes at between 1.3 and 1.5% lithium in the immediate area of the Resource.

Moreover, this initial Resource comprises less than 5% of the project area, so this could just be scratching the surface when it comes to what NVA could unearth here.

NVA has also developed a shrewd strategy to unlock the value of this lithium asset by spinning off Snow Lake and seeking to list it in Canada via an IPO.

NVA will retain significant ownership of the listed entity. The spin-off, in turn, will leave the project with a strong balance sheet without further dilution to shareholders, enabling NVA to ride the upside wave as the project develops further.

This listing will propel the Thompson Brothers Project on its fast track development strategy.

While a further Joint Venture with Newmont on the Officer Hill Project could be the silent knight with further encouraging results at the project.

All in all, not bad for one ASX small-cap…

Given the calibre of its potentially game-changing gold and lithium assets, it would seem that the forward-focused NVA, which is currently capped at a mere $14 million, is considerably undervalued, without taking into account a further joint venture with Newmont on the Officer Hill Project.

With a cluster of catalysts looming on the not-so-distant horizon, it may not be long before investors cotton on to the full impact of this agile ASX junior. There’s clearly a lot going on here, so without further ado, let’s get straight into the nuts and bolts of this small-cap growth story.

Getting re-acquainted with:

Nova Minerals
ASX:NVA