Nova Minerals: Drilling to Recommence on Core Lithium Project
Melbourne, VIC / December 22, 2017 / JMN Wire / The directors of Nova Minerals Limited (ASX: NVA) (Nova or Company) are pleased to announce that building upon the successful results from previous drilling programs, a new comprehensive 5,000-meter drill program will commence in January, 2018 ‘subject to final approvals’ at the Thompson Brothers Lithium Project (“Project”), located within the world-class Manitoba Lithium District. The new drill program will be focused on aggressively testing the extensions of the pegmatite outcrops identified along strike and to the north and northwest (Figure 1).
The Company remains highly confident in its ability to develop a world-class integrated lithium operation in the Manitoba district. The location of the Project gives it key competitive strengths over other potential lithium locations worldwide:
- High quality spodumene project strategically located in North America
- Proximity to major downstream lithium processing facilities
- Proximity to major US battery customers (GM, BMW, Nissan, Mercedes, Tesla, etc)
- Closely located to established low cost power infrastructure, within 1km
- Strong, large and low cost local workforce with experience in lithium sector
- Proximity to major transportation infrastructure including 11km to highway, 34km to rail and 11km from airport.
- Manitoba is a mining and development friendly state
Nova CEO, Avi Kimelman said of the upcoming campaign: “We are extremely pleased with the scale of our initial historical resource for the Project, which gives us a base to potentially grow our resource to the north significantly. The historic resource is a small portion of our overall tenement package, and leaves considerable upside as we broaden our drill horizons and continue to expand our drill program