Ann: Operational and Company Update, page-17

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mt88

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30/09/19

13:59

Post #: 40640315
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Originally posted by speedyl: ↑

Gee Chris is good speaker and front man for the company and I had a good talk with him last week as well. Nice video and operational update on all the projects and now we also have a timeline on Estelle. They are moving all these projects very quickly.

Key points for me:
- Next drilling aiming to double the size of just the Korbel prospect to at least 5m oz plus there is significant upside with the other 15 prospects on our tenements too and Chris sounded like 10m oz was easily feasible as a minimum from the Estelle district scale area IMO

- Drilling will commence as soon as the permits are received and can drill all year round once the permanent camp is established and some benefits to drilling in winter too

- Both isolated high grade and low cost bulk tonnage areas converge on the Estelle tenements so expect some of the next drilling to also have some high grade hits. Shoestring had rock chip samples of 130g/t

- "Blocks C and D which have not been drill tested to date are showing larger and stronger chargeability anomalies". Drilling to date has proven the accuracy of the IP surveys so expect drills in this area to also hit mineralisation

- Up to 4 drill rigs will be onsite early in 2020...4 rigs need i say more!!

- Still lots of newsflow to come on Estelle "Nova also has further exploration results pending on the Estelle Project and further ground works happening to update on in due course". It wont be like last year where things slowed down when winter set in early

- Officer Hill Newmont JV drill results coming in early October

- Thompson Bros. Can list any time but have determined that it is better to use the cash to get early easy cashflow from the project 1st which will give the listing a much higher valuation. Tanco want all the spodumene ore they can get and aim is to "pack and ship" via rail like a quarry operation. "The conclusion from the meeting was that Tanco Mining Corporation of Canada Limited would take any and all spodumene material that Snow Lake could deliver to the Tanco rail siding in Molson Manitoba". "Applications are being prepared for the Manitoba Mines Branch requesting the opportunity to be granted a Advance Exploration Permit to conducted a surface Bulk Sample on the Thompson Brother Lithium Deposit. The project will consist of a small aggregate quarry removing between 3000 to 6000 tonnes of spodumene bearing pegmatite. Conceptually the quarry dimension will be 20 to 40 metres long, 10 meters wide, and 6 metres deep. The quarry material will be hauled from the project down an existing winter bush road and sent for testing to Tanco’s testing facility in Southern Manitoba by rail". Sounds like there could be alot of newsflow from Snow Lake as well

- New resource upgrade coming Dec2019/Jan 2020 on TBL

- Management talking with big mining companies "We have established strong dialogue with some of the world leading major and mid-tier mining companies at senior level who have shown significant interest with discussions ongoing, at this point we are working towards our programs and schedules."

- Well funded "On further corporate financing, the company is well funded and has multiple sources of financing options that the board and senior management will continue to review. These options ultimately are determined in the best interest of the company and its shareholders with dilutionary effects a critical consideration.”...Looking after shareholders

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Chris mentioned that Newmont JV results is coming in Oct and planning for stage 3 is well underway.

NVA Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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Ann: Operational and Company Update, page-17

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