Nova Minerals Ltd's (ASX:NVA) majority-owned company Snow Lake Resources Ltd has entered into preliminary discussions with the Arctic Gateway Group, the owners of Hudson Bay Railway, for future capacity to the Tanco mine as part of Nova's initial logistics assessment.
This logistics solution is expected to further boost the Thompson Brothers Lithium Project as a Canadian Tier 1 lithium deposit.
Nova Minerals managing director Avi Kimelman said: “We are delighted that Snow Lake Resources Ltd is working proactively to fast-track our development works at the Thompson Brothers Lithium Project in line with our low capex, clear path to production and cash flow strategy.
“We are now in an enviable position with our initial maiden inferred JORC resource estimation report now initiated on the Oxide Korbel deposit (one of fifteen known occurrences) at the district scale Estelle gold project which shares geological similarities to that of Kinross’ Fort Knox Gold and Victoria Gold’s Dublin Gulch Eagles Gold Mine systems.
"Furthermore, we look forward to updating the market on our 30% owned (Newmont Goldcorp 70%) Officer Hill Gold Project current drill campaign.”