Nova Minerals Commences Drilling at Stibium Prospect

Strategic Insights -

Nova Minerals Ltd has begun a 3,000-metre diamond drilling program at its Stibium prospect in Alaska, targeting a maiden Mineral Resource Estimate (MRE) for both gold and antimony. The prospect is located near the company's Whiskey Bravo camp and Korbel gold deposit. The campaign will test high-grade mineralisation identified in previous surface sampling, which revealed strong gold and antimony values, with rock samples assaying up to 60.5% antimony and 141 grams per tonne gold.

Key Takeaways:

  • Nova Minerals Ltd has started a 3,000-metre diamond drilling program at its Stibium prospect to test high-grade mineralisation and define a maiden Mineral Resource Estimate (MRE) for both gold and antimony.
  • The Stibium prospect is located near Nova's Whiskey Bravo camp and Korbel gold deposit in Alaska.
  • Initial surface sampling results revealed strong gold and antimony values, with rock samples assaying up to 60.5% antimony and 141 grams per tonne gold.
  • Nova is continuing to advance its application for funding through the United States Department of Defense (DoD) to accelerate its antimony value chain.
  • The DoD funding, if approved, will support further drilling, the construction of a processing facility at Port Mackenzie, and the engagement of refining expertise and offtake partners.
  • Nova is well advanced in identifying a potential US-based metallurgical refining site and is progressing discussions with the US Department of Defense regarding funding support to fast-track antimony production.
  • The company aims to establish Alaska as a reliable domestic supplier of antimony, strengthening US supply chain resilience and enhancing national security.

Statistics:

  • 3,000 metres of diamond drilling planned at the Stibium prospect.
  • 800 by 400 metres span of the mineralised zone evident from surface sampling.
  • Up to 60.5% antimony (Sb) and 141 grams per tonne (g/t) gold (Au) assayed in rock samples.
  • Up to 2.8% Sb and 25.6 g/t Au detected in soil samples.
  • 800 by 400 metres mineralised zone detected through surface sampling.
  • 2 diamond drill rigs and 1 reverse circulation rig mobilised for the drilling campaign.
  • Drilling scheduled to start in late June.

Sources:

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