Nova Minerals Ltd applauds the progress of Snow Lake Resources Ltd in Manitoba

“The results of this exploration expedition are incredibly encouraging and confirm our belief that Snow Lake Lithium sits on one of the most promising resources in North America for lithium supply,” said the CEO of Snow Lake.

Nova Minerals Ltd (ASX: NVA, OTCQB: NVAAF) has welcomed the news that its lithium-centric spin-off company, Snow Lake Resources Ltd, has advanced on a prospecting and mapping program on its Manitoba properties.

Snow Lake Vice President of Resource Development Dale Schultz and Vice President of Exploration Brian Youngs ran the program.

The company’s latest expedition was designed to target more lithium-containing targets, which would be targeted for resource expansion in future drilling campaigns.

Snow Lake also undertook to confirm the locations of the Sherritt Gordon and Grass Rivers dykes previously identified and to monitor potential extensions of the Thompson Brothers Lithium (TBL) pegmatite.

Nova owns a majority stake in Snow Lake Resources Ltd, which joined the NASDAQ board in late November following a US $ 24 million initial public offering (IPO).

Develop the identified resource

Addressing the program, Schultz said: “Lithium was first identified on the Snow Lake Lithium claims in the 1930s and 1940s, with subsequent drilling programs over the decades confirming the rich nature of the pegmatites containing lithium on our property.

“The challenge now is to continue to organically develop our identified resource using all the tools at our disposal.

“Our summer prospecting program has been extremely successful and the next previously announced drone survey will deploy the latest cutting-edge technology to provide us with real-time, in-depth and overlay data to further improve our understanding of the geology.

“Our exploration program provides us with the geological intelligence to perform what promises to be a very exciting winter drilling program that we believe will bring substantial improvements to our understanding of the resources. “

Exploring the Potential of Lithium in Manitoba

During the prospecting and mapping expedition, Snow Lake collected field samples to assess their amounts of lithium oxide.

A dyke known as BY pegmatite gave promising results, grading between 1.2 wt% (wt%) and 1.6 wt% lithium oxide.

BY Pegmatite spodumene.

It is located north and east of the main TBL resource block and will represent a new target area outside of the already known and established crystallization zones in the resource.

Other targets of interest include Grass River (GR) and Sherritt Gordon (SG), dikes south and west of TBL across Crowduck Channel.

Notably, a sample of the Grass River dyke gave a value of 1.27 wt% lithium oxide.

The two samples of spodumene crystals taken from the outcrops are of additional interest.

These crystals returned up to 6.86 wt% and 6.97 wt% lithium oxide, respectively.

Ultimately, this suggests that the Grass River dike should be able to produce concentrates at the 6% level or higher.

Spodumene crystal from the GR Pegmatite.

The Sherritt Gordon dyke also returned very high numbers, grading between 2.73 wt% and 3.42 wt% lithium oxide.

The Grass River and Sherritt Gordon dykes contain more coarse-grained spodumene than TBL, with crystals measuring over 40 centimeters long and 5 to 8 centimeters wide.

A 40 centimeter long spodumene crystal from Pegmatite SG.

All samples were sent to SRC Geoanalytical Laboratories in Saskatoon for analysis.

“One of the most promising resources”

Echoing Schultz’s comments, CEO Philip Gross said: “The results of this exploration expedition are incredibly encouraging and confirm our belief that Snow Lake Lithium sits on one of the most promising resources in North America for the earth. lithium supply.

“Our recent laboratory analysis results also suggest that our rock is suitable for producing a quality raw material for the battery industry.

“As the North American market pivots towards full electrification of its fleet, there is currently a systemic lithium supply deficit for this critical demand.

“Snow Lake is perfectly positioned with geographic proximity, a viable resource and access to infrastructure to play a key role in what promises to be the most significant development in the industrialized world of this century. “