Novo Resources Corp. (“Novo” or the “Company”) is pleased to provide an update on Liatam’s exploration efforts at the Quartz Hill project (“Quartz Hill”) in the Mosquito Creek Basin of Western Australia, as advised by Liatam.
Highlights
- Liatam Mining Pty Ltd ("Liatam"), Novo’s battery minerals joint venture partner at the Quartz Hill project in the Mosquito Creek Basin, Western Australia, has outlined its 2023 exploration program
- Liatam’s board has approved an aggressive 2023 exploration budget of A$4 million focusing efforts on systematic and scientific exploration, demonstrating Liatam’s strong commitment and belief in the Quartz Hill project considering the 24-month, A$1.5 million earn-in requirement to earn an 80% interest in battery mineral rights in the Quartz Hill project
Mike Spreadborough, Novo’s Executive Co-Chairman and Acting Chief Executive Officer, said “Liatam’s significant budget confirms their commitment to the region and supports Novo’s strategy of working with reliable partners with whom non-gold and silver Pilbara prospectivity can be advanced.
“Novo’s ultimate retention of a 20% residual interest in battery mineral rights at the Quartz Hill project complements Novo’s traditional gold and silver portfolio and provides Novo with exposure to the diverse array of minerals available in the Pilbara. We are excited to assist Liatam with their battery minerals exploration efforts at the Quartz Hill project.”
The Quartz Hill area is comprised of three granted Exploration Licenses (“ELs”), thirteen Prospecting Licences (“PLs”) and one Exploration Licence Application (“ELA”) covering approximately 615 sq km (Figure 1). The area is considered highly prospective for lithium–caesium–tantalum (“LCT”) style pegmatite mineralisation.
Previous exploration by Novo and the Creasy Group has identified numerous lepidolite-rich pegmatite dyke swarms requiring systematic, scientific, and detailed geological mapping and sampling (Figure 1). The eastern most ELs (E46/795 & E46/796) have seen very little previous lithium exploration, however hyperspectral data and ultra-detailed aerial photography supports the prospectivity for LCT pegmatite formation. Outcropping lepidolite-bearing pegmatite swarms occur within the western tenements (E46/794 & PLs).
Liatam’s exploration activities will be coordinated from Novo’s Golden Eagle exploration office which is located approximately 30 kms from the centre of the Quartz Hill area and serviced by several access tracks.
Liatam have engaged an experienced soil sampling contractor to commence orientation and first pass reconnaissance soil sampling commencing late March 2023, conditional to access becoming available post cyclone season.
Detailed geological mapping and rock chip sampling is scheduled to run concurrently with soil sampling and is designed to map pegmatite outcrop distribution, geometry, mineralogy, and zonation patterns. Soil sampling and mapping will be supported with the use of a portable XRF instrument allowing for rapid field data collection.
Heritage and ethnographic surveys are expected to occur in mid-2023 and drilling is expected to commence in Q4 2023 to test high-priority targets identified through soil and geological mapping results generated by the work undertaken in the first half of 2023.
Source: https://novoresources.com/