Nova's Majority Owned Snow Lake Lithium Chairman Update
Melbourne, Jan 30, 2023 AEST (ABN Newswire) - Nova Minerals Limited (ASX:NVA) (QM3:FRA) (NVAAF:OTCMKTS) is pleased to provide an update on the Thompson Brothers Lithium Project, through its majority owned investment in Snow Lake Resources Ltd (NASDAQ:LITM).
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Nova CEO, Mr Christopher Gerteisen commented: "As a 37% shareholder in Snow Lake Lithium, Nova is pleased with the conservative, systematic path, and the speed the new board is taking to quickly transition the company back to its core fundamentals of fast tracking its lithium development project with the aim of generating early positive cash flows from an initial simple direct shipping ore (DSO) operation and further spodumene concentrate sales.
This approach, is well thought out and prudent for the benefit of shareholders, and Nova looks forward to reporting further progress as Snow Lake Lithium implements its new strategy."
About Nova Minerals Limited
Nova Minerals Limited's (ASX:NVA) (FRA:QM3) (OTCMKTS:NVAAF) vision is to develop North America's next major gold trend. The company is focused on exploration in Alaska's 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 Victoria Gold's Eagle Mine and Kinross Gold Corporation's Fort Knox Gold Mine. The company's flagship Estelle Project has a current total estimated JORC gold resource of 9.6Moz (3Moz Indicated and 6.6Moz Inferred). Estelle is a 45km long string of 15 identified gold prospects bracketed by the Korbel deposit in the north and the RPM deposit in the south. These two deposits are currently host to extensive exploration programs.
Additionally, Nova has an indirect interest in the Canadian Thompson Brothers Lithium Project through a substantial stake in Snow Lake Resources Ltd (NASDAQ:LITM) and holds a 12.99% interest in Torian Resources Limited (ASX:TNR), a gold exploration company based in Western Australia.
Nova Minerals Limited