Nova Minerals Boosts Antimony Production with New Sorting Tests

Nova Minerals Elevates Antimony Production through Innovative Sorting Program

Anchorage, Alaska — Nova Minerals Limited (NASDAQ: NVA) has recently announced groundbreaking results from its Styx antimony ore sorting test program, demonstrating promising advancements in production potential. Through innovative technology, the company aims to produce high-grade antimony ore concentrate directly on site, which is a significant development for processing efficiency.

Highlights of the Ore Sorting Results

The results from the ore sorting tests reveal several key achievements:

• The development of a conceptual flowsheet provides a clear strategy for onsite recovery and upgrading of antimony ore.
• A bulk ore sorting test conducted with a 500kg Styx sample yielded an impressive recovery rate of 60.3% antimony concentrated in just 26.1% of the mass. This resulted in an upgraded grade of 35.2% Sb from a starting grade of 15.2% Sb.
• Additionally, the test illustrated that gold can be effectively separated, achieving a recovery rate of 52.5% and raising the gold grade from 1.90 g/t to 2.99 g/t, highlighting a synergistic opportunity between antimony and gold processes.
• Nova continues to explore various options to secure a U.S. domestic supply chain for antimony production, which is critical in today’s fluctuating global market.
• Current efforts in beneficiation and purification processes aim to refine the production flowsheet further.
• Testing on a bulk sample from Stibium is also progressing, with results expected shortly.

Comments from Leadership

CEO Christopher Gerteisen expressed enthusiasm about the ore sorting outcomes, calling it a significant advancement in their strategy for critical minerals. He emphasized that achieving such a high-grade concentrate from a single pass is not only efficient but also cost-effective. The ability to recover over 60% of the contained antimony while simultaneously rejecting gold to tailings underscores a remarkable synergy in processing between the two valuable minerals.

Strategic Importance of the Results

Given the current pressures on defense supply chains globally, Nova's Estelle Project is poised as a powerful asset. The confirmation of high-grade prospects, particularly from Styx and Stibium, aligns with the company’s goals to address the urgent supply gap in U.S. antimony production. Engaging with government initiatives and applying for Department of Defense grants further strengthens this position.

Future Directions for Nova Minerals

Partnering with METS Engineering and Steinert Mining for technology assessments has equipped Nova to enhance the amenability of the Estelle ore body to specialized sorting methods.

This approach is expected to facilitate the production of high-grade concentrates that may serve as direct shipping ores. Additionally, Nova plans to implement on-site sorting technologies that will allow for cost-effective processing while generating preliminary cash flows during the establishment of downstream facilities.

The anticipated processing facilities are also strategically designed to handle lower-grade ores in the future, which will be stockpiled for when demand increases. Crucially, tailings from this sorting process present an opportunity for additional gold recovery, providing further stability to Nova’s overall project economics.

Navigating Global Market Pressures

With the increase in China’s export restrictions on critical minerals, the importance of local production in the U.S. cannot be overstated. Nova's capacity to deliver high-grade antimony directly addresses this critical need, making the Estelle Project a strategic pillar for the U.S. supply chain of this essential mineral.

Conclusion

The advances made in ore sorting and processing positions Nova Minerals as a leading contender in the antimony market. By reducing reliance on foreign supplies and enhancing domestic production capabilities, the company is not just securing its future but also contributing to national interests in defense and industry.

Frequently Asked Questions

What are the key findings of Nova Minerals' recent ore sorting tests?

The tests showed a 60.3% recovery of antimony from a 500kg Styx sample, achieving a concentrate grade of 35.2% Sb and enhancing gold recovery as well.

How does Nova Minerals plan to use the ore sorting technology?

Nova intends to implement ore sorting technologies on-site to generate high-grade concentrates, potentially enabling direct shipping ore capabilities.

What is the significance of the Estelle Project in the current market?

With rising restrictions on mineral exports from China, the Estelle Project positions Nova as a crucial supplier of antimony, addressing critical supply gaps in U.S. defense and industry.

How is Nova Minerals engaging with government initiatives?

Nova is actively participating in the Defense Industrial Base Consortium and applying for Department of Defense grants to support its projects and production capabilities.

What is the future outlook for Nova Minerals?

With the recent advancements and ongoing testing, Nova aims to become a key player in the antimony market, executing plans to secure a reliable domestic supply chain.

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