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Nova Minerals Ltd.
Summary
| Project: | Thompson Brothers | |
|---|---|---|
| Deposit: | Thompson Brothers | |
| Location: | Canada | |
| Commodities: | Lithium | |
| Date: | 7/25/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 25-7-2018: Nova Minerals Ltd. announces a Resource Estimation report for its Thompson Brothers deposit at the Thompson Brothers project. Initial mineral resource estimate at the project. The directors of Nova Minerals Limited (Nova or Company) (ASX: NVA, | |
| Resources: | (Resource, Inf.): 6.3Mt @ 1.38% Li2O | |
| CP/QP: | [Resources]: Olaf Frederickson (Internal) | |
| ABSTRACT: | The directors of Nova Minerals Limited (Nova or Company) (ASX: NVA, FSE: QM3) are pleased to announce a maiden inferred lithium mineral resource for the Thompson Brothers Project in central Manitoba, Canada. The lithium resource is comprised entirely from one pegmatite dyke as defined by the 2017/2018 drill programs with approximately 4,800 metres drilled during that period. This main dyke is close to additional lithium bearing mineralisation that is as yet undefined and does not comprise part of the existing resource. The resource remains open at depth and along strike in both the north and south directions which will be among targets for the next phase of drilling. Figures 1 and 2 show a cross section of the estimate against drill holes and an oblique picture of the deposit representing continuity of mineralisation. Figure 3 is a geological plan showing the area covered by mining claims and the portion containing the resource. Estimation was conducted only within the mineralised pegmatite with internal and external waste excluded as identified by hard boundaries. Interpretation occurred on a 2 dimensional sectional basis then combined to form a 3 dimensional volume model of the in-situ pegmatite dyke. No waste material in the host country rock was estimated. The resource was estimated using Micromine software with an inverse distance squared interpolation method due to insufficient data available to suit variography and kriging. The resultant resource is classified entirely as inferred in accordance with the JORC Code, 2012 Edition when taking into consideration, data density, deposit geometry, likely extensions and possible interpretation alternatives. | |
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