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).
View announcement here:
https://www.abnnewswire.net/lnk/RE7JLTQW
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 (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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