Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) is on the hunt for a new chairman as it works to advance its cornerstone Estelle Gold Project and become a global gold producer.
The move comes after Nova’s non-executive chairman, David Hersham, resigned from his post with immediate effect. Executive Louie Siemens will serve as interim chairman until Nova’s next leader is found.
The gold explorer and project developer is interviewing well-known global search firms as part of the recruitment phase, while Nova says it has already received some candidates through its directors and investment banking relationships.
Specifically, the company is looking for a highly qualified individual based in North America to bring complementary skills to the existing Nova board.
The right candidate’s profile would include:
- A passion to guide Nova on its journey to become a world-class gold producer;
- Extensive US capital markets experience and investment banking relationships;
- Corporate governance and risk management skills, including establishing and chairing all board committees; and
- Cross-sector and cross-border insight.
Snow Lake Lithium update
Amid moves on the executive level, Nova also delivered a progress report for its majority-owned Snow Lake Lithium spinout on Friday.
The ASX-lister recapped work to date as part of the Mannitoba-based explorer’s winter drill program, designed to expand the existing defined resource and identify additional targets on the property for further development.
Promisingly, Nova says initial indications suggest that these goals have been achieved and improved upon.
“Despite a slightly delayed start due to winter conditions late arrival, the Snow Lake team has delivered extremely favourable results with the initial drill on the Thompson Brothers resource,” Nova stated today.
Three drill rigs are currently turning the soil around the clock at the Thompson Brothers asset, and this week each drill returned spodumene-bearing intersections from its location.
All samples have been — and will continue to be — forwarded to SGS’ Lakefield laboratory for analysis.
Based on the early success of the company’s winter drilling program, Snow Lake has committed to retain all the drills on-site over the spring and into the summer, utilising airborne support in order to accelerate the progress and further resource expansion.
Extending the drill campaign through spring and summer
Snow Lake CEO Philip Gross said: “The success of our drilling program to date has provided critical validation to our ambitions of delivering a multi-decade resource to market.
“We could not have hoped for a better start to our campaign and full credit is due to the dedication of our VP of Resource Development Dale Schultz and VP of Exploration Brian Youngs.
“With the anticipated expansion of the initial deposit at TBL, we now also have spodumene evidence of two additional target resources at Grass River and SG deposits.
“This will provide us with a tactical advantage of ultimately increasing our resource and providing optimal economic mining conditions.
“Due to these developments, we are now fully committed to extending the drilling campaign across the spring and summer and adjusting our near-term PFS strategy and resource upgrade to accommodate the results of this program.”