Announcement Date: 2022-05-03
Announcement Type: Drilling Results
Announcement Code: JORC
Company name: Nova Minerals Ltd.
Project name: Thompson Brothers
Location: Canada
Commodities: Lithium
Highlight: Drilling results incl. 34.5m @ 1.49% Li2O from 233.0m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Nova Minerals Limited (Nova or the Company) (ASX: NVA, OTC: NVAAF, FSE: QM3) advices Snow Lake Resources Ltd, d/b/a Snow Lake Lithium Ltd. (NASDAQ:LITM) (“Snow Lake”) a lithium resource company committed to developing the world’s first fully electric lithium mine, is pleased to provide the first assay results of its winter drilling program in the northeast extension of its Thompson Brothers (TBL) spodumene pegmatite deposit located in Manitoba, Canada. These results represent only the first 3 holes of the total 40 holes which Snow Lake has submitted for analysis. Snow Lake remains steadfast in its ongoing initiatives to accelerate the turnaround time for assay results. The best intercept came from TBL-027 with an intersection of 1.49% LiO2 over 34.5m. In addition, hole TBL-025 returned an intercept of 1.52% Li2O over 18.0m located close to surface. The other holes completed to date demonstrate the “pinch and swell” character of the crystallization on the northeast extension of the TBL deposit. (See Table 1.0, Figure 1.0 and 2.0). The Thompson Brothers dyke appears to extend beyond depths of 500 meters. Additional drilling will be required to continue defining the deposit along strike to the northeast. As previously released (January 31, 2022 – Snow Lake Extends Strike By 10% in First Hole of Winter Drilling Campaign), we believe that the northeast extension of our TBL deposit is very promising for the location of a future open pit to start the mining of our Thompson Brothers resource.
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