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Mining industry

Nova Minerals Limited Commences Drilling at Stibium Prospect

Strategic Insights

— 1 min read

Nova Minerals Limited has initiated a maiden 3,000m diamond drill program at its highly prospective Stibium prospect, targeting both gold and antimony mineralization. The first diamond drill rig is now operational, with a second diamond rig and the company-owned reverse circulation (RC) rig scheduled to commence drilling later in June. Nova's application for U.S. Department of Defense funding to fast-track antimony production from mining to refining continues to progress, aiming to secure additional drill rigs and develop a state-of-the-art antimony metallurgical processing hub at Port Mackenzie, Alaska.

Key Takeaways:

  • Nova Minerals Limited has commenced a maiden 3,000m diamond drill program at the Stibium prospect, focusing on defining a maiden Mineral Resource Estimate (MRE) for both gold and antimony.
  • Surface sampling has confirmed a significant mineralized footprint, approximately 800 meters long and 400 meters wide, with standout results including rock samples with up to 60.5% Sb and soil samples with up to 25.6 g/t Au.
  • Nova's application for U.S. Department of Defense funding to fast-track antimony production from mining to refining has continued to progress, with potential securing additional diamond drill rigs and developing a state-of-the-art antimony metallurgical processing hub at Port Mackenzie, Alaska.
  • The company plans to scale up operations, including the addition of further diamond drill rigs, should it secure funding through its pending application with the U.S. Department of Defense.
  • Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims.
  • The Estelle Project contains multiple mining complexes across a 35 km long mineralized corridor, with several advanced Gold and Antimony prospects, including two already defined multi-million-ounce resources.

Statistics:

  • 12 rock samples returned between 30% and 60.5% Sb
  • 10 soil samples returned between 0.1% and 2.8% Sb
  • 16 rock samples returned between 5 g/t and 141 g/t Au
  • 35 soil samples returned between 1 g/t and 25.6 g/t Au
  • The Stibium prospect is located approximately 800 meters long and 400 meters wide
  • The Estelle Project covers 514 km2 of State of Alaska mining claims

Sources:

  • Nova Minerals Limited ASX Announcement: 14 January 2025
  • Nova Minerals Limited Website: www.novaminerals.com.au

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