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Novo Resources: JV Partner Liatam Mining Outlines Lithium Exploration Program
HIGHLIGHTS Liatam Mining Pty Ltd ("Liatam"), Novo’s battery minerals joint venture partner at the Quartz Hill project1 in the Mosquito Creek Basin, Western Aust
About this update from Novo Resources Corp.
[{"type":"text","content":" HIGHLIGHTS Liatam Mining Pty Ltd (\"Liatam\"), Novo’s battery minerals joint venture partner at the Quartz Hill project1 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 VANCOUVER, British Columbia, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) 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. 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.” Figure 1: Quartz Hill tenement map highlighting 2023 exploration areas on high-resolution aerial photography. Note the outcropping pegmatite swarms (pink polygons) in the western tenements and areas for planned geological reconnaissance in the east. 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 sampling2 (Figure 1). The eastern most ELs (E46/795 &a...