Updates On Jameson Resources And Nova Minerals

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Updates On Jameson Resources And Nova Minerals

The company is happy to announce the Chief Gold Commissioner of British Columbia has issued four new coal exploration licenses at its Crown Mountain Coking Coal project. The licenses comprise an area of 2,067 hectares adjacent to Crown Mountain, including part of the proposed transportation route. The company expects to commence geologic field evaluation of the licenses later this year and is very pleased with these approvals. Further exploration is dependent on the results of that evaluation. To expand the Crown Mountain resource area, Jameson looks forward to the opportunity to evaluate the potential, despite the speculative nature of these licenses.

To advance Crown Mountain numerous activities are underway including coal quality analyses from the recently completed exploration program, engineering, and design work for the spoil disposal facility, compilation of the Application for an Environmental Assessment Certificate and initial work toward supporting the bankable feasibility study. Initial coal quality analyses by the company will be released shortly. The licenses are speculative, Jameson is not aware of any documented compliant coal resources in the subject area and does not possess any previous exploration data. Once weather allows next summer, geological field evaluation will begin.

Jameson Resources Limited (ASX: JAL) traded flat as at January 14, 2019, and the last price closed was on January 7, 2019.

On behalf of Snow Lake Resources Ltd, the directors of Nova Minerals Limited are pleased to announce an update on Snow Lake Resources Ltd. By financing their commitments with Strider Resources Ltd relating to their Option Agreement, the company owns the rights to receive up to 80% ownership interest of the Thompson Bros. Lithium Project from Ashburton Ventures Inc. The project is well advanced with a maiden Inferred Resource of 6.3 Mt @ 1.38% containing 86,940 tonnes of Li2O and with an exploration of 3 to 7Mt @ between 1.3 and 1.5% Li2O in the next area of the resource.

Using the procedural metallurgical lab test techniques, initial metallurgical test work demonstrates the project can produce a concentrated material of 6.37% Li2O. By financing their commitments regarding the JV Agreement, Nova Minerals Limited owns 51% with the privileges.

The most advanced projects are the Chip-Loy nickel, cobalt, copper project; the Estelle gold project, a district scale project with a 2.2 – 5.3 million, ounce gold exploration target; and the Windy Fork REE; the Bowser Creek zinc, silver, lead project.

In the Tanami region of Northern Territory, the company is committed to continue our working relationship with Newmont and proceed with exploration on the Officer Hill Gold Project located within the ~13 million-ounce Tanami endowment. The stock traded at a market price of $0.024 as at January 14, 2019.


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