Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) has intercepted lithium mineralisation in four distinct pegmatite dykes, all producing results above 1% lithium, at the 37%-owned Snow Lake Lithium Project in Manitoba, Canada.
The company says these results validate the potential for resource expansion across the property, with best results including:
- Sherritt Gordon Pegmatite dyke: 1.84% lithium oxide over 6.32 metres;
- Thompson Brothers Lithium dyke: 1.36% lithium oxide over 17.97 metres;
- BY Pegmatite dyke: 1.50% lithium oxide over 7 metres; and,
- Grass River Pegmatite dyke: 0.88% lithium oxide over 5.58 metres.
The new lithium results from the Sherritt Gordon and Grass River Pegmatites have been interpreted to confirm the potential for near-surface growth at those locations given the relatively shallow nature of the intersections, at 77.05 metres and 18.92 metres of depth respectively.
Of particular note is the Thompson Brothers Lithium dyke intersection which returned a broad mineralised section of 17.97 metres from 429.5 metres of depth.
Nova believes this result could indicate a much deeper pegmatite system within the project than initially anticipated and intends to test possible depth extensions in future drilling.
Snow Lake Lithium Project
The Snow Lake Lithium Project is owned and operated by Nova Minerals affiliate Snow Lake Lithium, initially tapped to develop the Thompson Brothers Lithium Project, which has since expanded into the larger Snow Lake Lithium Project.
Four zones of lithium-prospective spodumene dykes have been identified so far on the project, which is expected to be one of the first fully renewable and sustainable lithium mines with the ability to produce completely traceable, carbon neutral and zero harm products for the electric vehicle and battery market.
About Nova Minerals
Nova Minerals’ vision is to develop North America’s next major gold trend. The company is focused on exploration in Alaska’s prolific Tintina Gold Belt, a province which hosts a 220 million ounce documented gold endowment and some of the world’s largest gold mines and discoveries including Victoria Gold’s Eagle Mine and Kinross Gold Corporation (TSX:K)’s Fort Knox Gold Mine.
The company’s Estelle Gold Trend development is a 35-kilometre-long corridor of 21 identified gold prospects bracketed by the Korbel Project in the north and the RPM Project in the south. Currently, these two flagship projects have a combined total estimated JORC gold resource of 9.6 million ounces (3 million ounces indicated and 6.6 million ounces inferred) and are host to extensive resource development programs.
Additionally, Nova holds a major interest in NASDAQ-listed lithium explorer Snow Lake Resources Ltd and a substantial interest in Torian Resources Limited, a gold exploration company based in Western Australia.