Nova Minerals Collects Bulk Antimony Material for Test Work at its Estelle Gold-Antimony Project, in Alaska
September 05 2024 - 6:30AM
Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX:
NVA) (FRA: QM3) is pleased to provide an update on its
Antimony-Gold prospects at Stibium and Styx on its over 500km2
flagship Estelle Project, located in the prolific Tintina Gold Belt
in Alaska, which historically was also a North American antimony
producer.
Highlights
- 2,500kg bulk sample of antimony
rich material collected from Stibium for metallurgical test
work.
- 500kg bulk sample of antimony rich
material collected from Styx for metallurgical test work.
- Numerous antinomy rich samples have
also been sent to the ALS laboratory for analysis, with results
expected back in the coming weeks.
- Test work to develop a process flow
sheet and plant design in anticipation of a fast track stand-alone
antimony production scenario at Stibium.
- Nova has submitted a proposal to the US Dept. Of Defense (DoD)
for potential grant funding to fast track Estelle’s antimony
production.
Figure 1. Nova CEO, Mr
Christopher Gerteisen inspecting massive stibnite (antimony) bulk
samples at the Estelle camp, which are being sent for metallurgical
test work for plant design
Nova CEO, Mr Christopher Gerteisen
commented: “The initial antimony
discovery results at Stibium last year were very encouraging. Now,
with the 2024 follow-up field programs well advanced we can confirm
the presence and wide spread nature of significant antimony in the
form of massive stibnite vein zones across numerous prospects at
Estelle, including Stibium and Styx. With serious efforts underway
in the US to establish and fully secure domestic antimony supply
chains, these significant at surface antimony discoveries put the
Company in a strong position to fast track these prospects towards
development. Bulk sampling has been conducted for metallurgical
test work on Stibium and Styx material to develop a process flow
sheet and plant design with the aim to produce saleable antimony
products as soon as possible. The Company is aggressively pursuing
this potential early cash flow opportunity as a stand-alone small
footprint antimony operation containing gold credits, that is
separate from the larger RPM and Korbel gold project that it
continues to progress concurrently. The Company is working closely
with various US government agencies, including the Dept. of
Defense, to potentially receive grant funding for fast tracking the
Estelle antimony production. The Company believes its proposal
applications already submitted for available grant funding will be
taken under serious consideration, particularly in light of the
recent announcement of China export restrictions.”
Antimony at Estelle
With widespread massive stibnite (antimony)
veining observed in surface mapping and sampling at Stibium (Figure
2) and Styx (Figures 3-4), the strong relationships the Company has
developed with various US government agencies, and China recently
announcing export restrictions on antimony, Nova sees a first mover
opportunity to develop the prospects and supply antimony to the US
domestic market in the near term.
Figure 2. Bulk sample in
transit from Stibium
Over 2,500kg of antimony rich stibnite material
has now been collected from Stibium, and 500kg from Styx, for test
work to develop a process flow sheet and plant design in
anticipation of a fast track production scenario. The Company is
working with METS Engineering and the University of
Alaska-Fairbanks CORE-CM group who will complete these studies, and
have already received initial stibnite samples from the project.
Numerous antimony and gold rich rock and soil samples collected
from the prospects have also been sent to the ALS laboratory for
analysis, with results expected back in the coming weeks.
Figure 3. Massive Stibnite
(Antimony) vein material at Styx
An extensive surface mapping and sampling
program is continuing at Stibium and Styx, with drilling planned to
follow up on a previously reported 2m massive stibnite (antimony)
vein zone over 30m in strike length at Stibium with results
including 60.5% Sb and 12.7 g/t Au (ASX Announcement: 10 October
2023).
Figure 4. Large vein (~1m
thick) containing massive stibnite in outcrop at Styx
Nova CEO Christopher Gerteisen has been invited
to attend another Dept. of Defense (DoD) related conference in
September to discuss Estelle’s near-term antimony production
potential and illustrate how Nova could potentially help the US
establish and fully secure domestic critical minerals supply
chains.
Figure 5. Estelle property map
showing primary antimony prospects
Christopher Gerteisen, P.Geo., Chief Executive
Officer of Nova Minerals, has supervised the preparation of this
news release and has reviewed and approved the scientific and
technical information contained herein. Mr. Gerteisen is a
"qualified person" for the purposes of SEC Regulation S-K 1300.
About Nova Minerals Limited
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, which contains multiple
mining complexes across a 35 km long mineralized corridor of over
20 advanced Gold and Antimony prospects, including two already
defined multi-million ounce resources, and several drill ready
Antimony prospects with massive outcropping stibnite vein systems
observed at surface. The 85% owned project is located 150 km
northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold
Belt, a province which hosts a >220 million ounce (Moz)
documented gold endowment and some of the world's largest gold
mines and discoveries including, Barrick's Donlin Creek Gold
Project and Kinross Gold Corporation's Fort Knox Gold Mine. The
belt also hosts significant Antimony deposits and was a historical
North American Antimony producer.
Further discussion and analysis of the Estelle
Gold Project is available through the interactive Vrify 3D
animations (which will be updated shortly with all the new drill
results), presentations and videos all available on the Company’s
website.www.novaminerals.com.au
Forward Looking Statements
This press release contains “forward-looking
statements” that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“target,” “aim,” “should,” "will” “would,” or the negative of these
words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on Nova Minerals Limited’s current
expectations and are subject to inherent uncertainties, risks and
assumptions that are difficult to predict. Further, certain
forward-looking statements are based on assumptions as to future
events that may not prove to be accurate. These and other risks and
uncertainties are described more fully in the section titled “Risk
Factors” in the final prospectus related to the public offering
filed with the Securities and Exchange Commission. Forward-looking
statements contained in this announcement are made as of this date,
and Nova Minerals Limited undertakes no duty to update such
information except as required under applicable law.
For Additional Information Please
Contact
Craig BentleyDirector of Finance &
Compliance & Investor RelationsE: craig@novaminerals.com.auM:
+61 414 714 196
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