Nova Minerals Executes JV; Provides Lithium Project Update
Melbourne, VIC / December 18, 2017 / JMN Wire / The directors of Nova Minerals Limited (ASX: NVA) (Nova or Company) are pleased to announce execution of a definitive Joint Venture Agreement for the Alaskan Project portfolio with AK Minerals Pty Ltd (further to the announcement made on 20 November 2017) and to provide an update on its Thomson Bros. lithium project and its strategic MOU with FAR Resources.
The Alaskan projects are located in the south-west of the State, which is a mineral-rich region that has attracted the attention of some of the largest mining companies and mine finders in the world including Anglo American, Barrick Gold, BHP Billiton, Freeport-McMoRan, Newmont Mining, Teck Resources, Sumitomo Metal Mining, Kinross and Rio Tinto.
Nova MD, Avi Kimelman commented, “We are excited about the Alaskan Project JV as it is an important part of our strategy to diversify and build our exposure in large scale multi-commodity and battery minerals projects.”
- Definitive Joint Venture Agreement executed for the Alaskan project portfolio, exposing Nova to earning up to an 85% interest in the Alaskan projects
- Attractive joint venture structure provides Nova with exposure to highly prospective ground in south-west Alaska, one of the most exciting mining jurisdictions globally, with no dilution to existing share structure
- Thompson Bros. lithium project fast tracked to development with drilling to recommence to expand resource area
- Nova meets with FAR Resources in Canada further to their strategic MOU to discuss opportunities for unlocking the world-class Manitoba district