Mining minerals

Nova Minerals Ltd seeks Chairman in its journey to become a global gold producer

The company is seeking a highly qualified individual based in North America to bring complementary skills to Nova’s current Board of Directors.

Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) is seeking a new chairman as it strives to advance its flagship Estelle Gold project and become a global gold producer.

The move comes after Nova’s non-executive chairman David Hersham stepped down from his post with immediate effect. Executive Louie Siemens will serve as interim chairman until Nova’s next leader is found.

The gold explorer and project developer is interviewing well-known global research companies as part of the recruitment phase, while Nova says it has already received candidates through its directors and bank relations of investment.

Specifically, the company is seeking a highly qualified individual based in North America to bring complementary skills to Nova’s current Board of Directors.

The profile of the right candidate would include:

  • A passion to guide Nova on its journey to becoming a world-class gold producer;
  • Extensive experience in US capital markets and relationships with investment banks;
  • Corporate governance and risk management skills, including establishing and chairing all board committees; and
  • An intersectoral and cross-border vision.

Snow Lake Lithium Update

Amid executive-level moves, Nova also presented a progress report on its majority-owned subsidiary Snow Lake Lithium on Friday.

The ASX-lister summarized work to date under the Mannitoba-based explorer’s winter drilling program designed to expand the existing defined resource and identify additional targets on the property for further development.

Promisingly, according to Nova, early indications suggest that these goals have been met and improved upon.

“Despite a slightly delayed start due to the late onset of winter conditions, the Snow Lake team delivered extremely favorable results with initial drilling on the Thompson Brothers resource,” Nova said today.

Three drills are currently turning the ground around the clock on the Thompson Brothers asset, and this week each drill returned intersections containing spodumene from its location.

All samples have been — and will continue to be — sent to the SGS laboratory in Lakefield for analysis.

Based on the early success of the company’s winter drilling program, Snow Lake has committed to keeping all drills on site through the spring and summer, using air support to accelerate progress and resource expansion.

Extend the drilling campaign into spring and summer

Snow Lake CEO Philip Gross said, “The success of our drilling program to date has provided critical validation of our ambitions to bring a decades-old resource to market.

“We couldn’t have hoped for a better start to our campaign and all credit goes to the dedication of our Vice President of Resource Development Dale Schultz and Vice President of Exploration Brian Youngs.

“With the planned expansion of the initial deposit at TBL, we now also have evidence of spodumene from two additional target resources at the Grass River and SG deposits.

“This will provide us with a tactical advantage to ultimately increase our resources and provide optimal economic mining conditions.

“Due to these developments, we are now fully committed to extending the drilling campaign into the spring and summer and adjusting our near-term PFS strategy and resource upgrade to reflect the results of this program. “