Nova Minerals Limited (NVA) Bulk Testing of Estelle Antimony Material
Nova Minerals Limited (ASX:NVA) (FRA:QM3) (NASDAQ:NVA) (OTCMKTS:NVAAF) 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.
Bulk Samples of Stibnite (Antimony) collected from Stibium and Styx for test work in preparation for potential near-term antimony production at the Estelle Gold and Critical Minerals District
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 standalone 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.
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 fr m 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."
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.
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.
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).
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.
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.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/YJN308QO
Nova Minerals Ltd P: +61-3-9614-0600 F: +61-3-9614-0550 WWW: novaminerals.com.au Craig Bentley Director of Finance & Compliance & Investor Relations E: craig@novaminerals.com.au M: +61 414 714 196
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