QUARTZ HILL | Jotup

Liatam Mining Makes Investment in Novo and Quartz Hill Joint Venture Formed

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Wednesday, December 20, 2023

Quartz, Lithium, ASX, Mineral, Gold, Feasibility study, Silver, IPO, TSX, Toronto Stock Exchange, LCT, JV, NVO, Mining

VANCOUVER, British Columbia, Dec. 20, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO & NVO.WT.A) (OTCQX: NSRPF) is pleased to announce an update to the Quartz Hill Project earn-in agreement with Liatam and also an additional investment by Liatam in Novo of A$1.8 million.

Key Points:

Liatam has exceeded the required spend of A$1.75 million to form the 80%/20% Quartz Hill Joint Venture with Novo in the East Pilbara, Western Australia.
Liatam has acquired legal title to the tenements included in the Quartz Hill Joint Venture and becomes the manager of the joint venture, with Novo retaining 20% ownership of battery mineral rights along with 100% of the gold and silver rights on the tenements.
The Quartz Hill Joint Venture tenements are considered prospective for lithium-caesium-tantalum (LCT) style pegmatite mineralisation.
Following completion of the earn-in requirement, the 80%/20% Quartz Hill Joint Venture (JV) between Liatam and Novo has now been formed.

Liatam Quartz Hill Battery Mineral Earn-In Update

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Tuesday, October 10, 2023

Quartz, Native title in Australia, TSX, LCT, ASX, NVO, Weather, Novo, Uranium mining, Lithium, Rare-earth element, Mining

VANCOUVER, British Columbia, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an update in relation to the earn-in agreement with Liatam Mining Pty Ltd (Liatam) relating to battery mineral rights at the Quartz Hill project (Quartz Hill).

Key Points:

Liatam is required to spend A$1.7 million over a 24-month period (from commencement date of April 2023) to earn up to an 80% interest in the battery mineral rights at Quartz Hill.
VANCOUVER, British Columbia, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an update in relation to the earn-in agreement with Liatam Mining Pty Ltd (Liatam) relating to battery mineral rights at the Quartz Hill project (Quartz Hill).
In December 2022, Novo's wholly owned Australian subsidiary, Nullagine Gold Pty Ltd, entered into an arrangement with Liatam pursuant to which Liatam was granted the right to earn an 80% interest in battery mineral rights within certain Novo tenements at Quartz Hill by spending A$1.5 million over 24 months.i
Under the earn-in agreement, Liatam had a one-time right to add additional tenements of its choosing at Quartz Hill.
The Quartz Hill battery mineral project area now comprises 25 tenements covering approximately 818 km sq (Figure 1).

JV Partner Liatam Mining Outlines Lithium Exploration Program

Retrieved on:

Thursday, February 23, 2023

We are excited to assist Liatam with their battery minerals exploration efforts at the Quartz Hill project.”

Key Points:

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 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 formation2.

Novo Closes Strategic Financing

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Thursday, December 22, 2022

Quartz, Warrant, TSX, NVO, Funding, Toronto Stock Exchange, Lithium, Security (finance), Unit

VANCOUVER, British Columbia, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that the previously announced Financing with Liatam1 has now closed.

Key Points:

Closing of C$5 million strategic investment in Novo (the “Financing”) from Liatam Mining Pty Ltd (“Liatam”), Australian-based manager of the Bald Hill lithium and tantalum mine in Western Australia, via the issuance of 12,820,512 units of Novo at C$0.39 per unit (each, a “Unit”), representing an undiluted 4.9% post-Financing position in Novo
Each Unit consists of one common share of Novo and one-quarter of one common share purchase warrant (each a “Warrant”).
The Toronto Stock Exchange has accepted notice of the Financing and conditionally approved the listing of the common shares issued under the Financing.
Accordingly, Novo has closed the Financing, raising gross proceeds of C$5 million through the issue of 12,820,512 Units at a price of C$0.39 per Unit.
The net proceeds from the Financing will primarily be used by Novo to fast-track exploration at the Company’s key projects, including the Becher Area, Nunyerry North and Purdy’s North, as well as for general working capital purposes.

Novo Announces Strategic Investment & Advancement of Battery Minerals Strategy

Retrieved on:

Thursday, December 15, 2022

VANCOUVER, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to welcome Liatam as a new shareholder and project investor at Quartz Hill.

Key Points:

“Novo looks forward to working with Liatam to progress the definition of battery mineral prospectivity across Quartz Hill and potentially the Pilbara region of Western Australia.
The Unit price represents a 26% premium to Novo’s closing price on December 14, 2022 and 30-day trailing VWAP.
Each Unit will consist of one common share of Novo and one-quarter of one Warrant.
In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its stakeholders.