Nova Minerals Ltd (ASX:NVA) is conducting sampling activities at its Thompson Brothers Lithium Project in Manitoba, Canada.
Recent geochemical sampling has identified a pipeline of new lithium exploration opportunities across the project area.
Results from all geochemical samples taken during 2017 have been received and modelling has defined additional lithium exploration targets.
Potential new lithium system in Snow Lake, Manitoba enhances the prospect of a joint venture development with Far Resources
Recent exploration results also indicate that there are previously unknown extensions including the prospect of a new lithium system in the Snow Lake district of Manitoba.
The negotiation of a memorandum of understanding with Far Resources Ltd (CNSX:FAT) has provided additional prospects for Nova to pursue.
Nova and Far Resources could potentially work together to develop their neighbouring lithium projects.
The unlocking of a major hard rock lithium producer at a time when there is growing demand for lithium would be a significant development for both companies.
Areas under exploration are situated in close proximity to manufacturers of lithium components.
Early stage results show resemblances to Far Resources’ tenements to the east
Results from Nova’s sampling program show anomalism for lithium in a number of trends that both follow, or continue on from known pegmatite dykes.
There is also an indication of new dykes in the north on a different orientation that are more closely aligned with dykes identified in Far Resources’ tenements to the east.
Further drilling will be conducted in order to define likely extensions of the mineralised system to the north, as well as the parallel north-west structure.
While the program is subject to final approvals, it is expected to commence during the current winter drilling season.