Nova Minerals Making Strong Progress with its Exploration Assets

Emerging resource company, Nova Minerals is engaged in mineral exploration of gold, lithium and other base metals across Northern Australia, Alaska and Canada. Its projects include Thompson Brothers Lithium project, Estelle Copper Gold Project, Farewell Terrane and Officer Hill Project.

Due to the growing demand for energy storage, the demand for battery minerals like lithium, cobalt and nickel is touching the sky. Nova Minerals Limited (ASX: NVA) intends to capitalise on this growing demand by fast-tracking exploration and development activities in its North American assets. Focused on creating value for shareholders, the company offers an unrivalled opportunity for investors seeking leverage to gold and underlying value and upside to the lithium.

The company believes that it is well positioned to take advantage of rising gold prices, while underpinning value through its interest in the Thompson Brothers Lithium Project. Focused on the exploration of lithium resources, the company is currently targeting a fast-track development strategy forthe Thompson Brothers Lithium Project, in which it possesses the rights to earn up to an 80% ownership interest (via its 100% owned subsidiary Manitoba Minerals Pty Ltd).

The company is currently in the process of listing 100% of the Thompson Brothers Lithium Project on the Canadian Securities Exchange (CSE) and along those lines, its wholly-owned subsidiary, Snow Lake Resources Ltd has already forwarded all consideration in cash and shares pursuant to the agreements signed between the parties.

Nova Minerals, in the recent past, has experienced substantial developments in the region of the Thompson Brothers Lithium Project. Lately, the company announced that Sinomine Rare Metals of Beijing is in the process of acquiring Tanco mine, which has produced spodumene, cesium and tantalum at various times through its mine life, highlighting the significance of the region.

Besides this, the company owns the rights to earn up to 85% ownership interest of the Alaskan Project Portfolio, which consists of advanced exploration projects like the Estelle Gold Project, the Chip-Loy nickel, cobalt, copper, silver project, the Bowser Creek silver, zinc, and the Windy Fork REE project.

Through its Estelle Copper Gold Project, which is a district scale project with a 2.2 to 5.3 million ounce gold exploration target and its Northern Australian gold exploration assets, the company has successfully gained exposure to the base and precious metals. At its Estelle Gold Camp, the company is planning for an exploration campaign focused on oxide occurrences, which were last drilled by Millrock Resources Inc. in 2010.

At its Tanami (Officer Hills Jv) Project, located in Northern Territory within the Tanami geological province, which hosts the world-class orogenic gold deposits, the company is progressing with Diamond Drilling with significant exploration work already completed in Q4 2018. The company has identified drill targets and is going to commence a drilling program in 2019 June quarter.

At the end of the March quarter, the company had total cash of $1,994,181. As at 31st December 2018, the company had total current assets of $2,980,04 and current liabilities of $195,520. During the half year ended 31 December 2018, the company paid $932,266 for exploration activities compared to $214,340 in the previous corresponding period, which signifies its exploration expansion activities.

At the time of writing, i.e. on 3rd May 2019, AEST 3:58 PM, the stock of the company is trading at a price of A$0.015, with a market capitalisation of ~A$11.61 million. Over last five days, the stock has soared by above 7%.

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