New High-Grade Resource Targets Identified at Stibium Prospect
Anchorage, Alaska — Nova Minerals Limited (“Nova”) (NASDAQ: NVA) is excited to reveal breakthrough assay results from soil samples at the Stibium prospect, signaling significant high-grade resource targets within a sizable 800m by 400m zone at the Estelle Gold and Critical Minerals Project. This ambitious project spans over 500 square kilometers and is situated in the renowned Tintina Gold Belt.
Exploration Highlights
- Identification of new drill-ready zones characterized by broad structural controls for gold and antimony at Stibium through thorough ground exploration.
- Progress on US grant applications aimed at advancing antimony and critical minerals development.
- Soil and rock chip assays collected during the 2024 reconnaissance program have confirmed that Stibium is an extensive gold and antimony rich zone, showcasing impressive grades of up to 141 g/t Au and 60.5% Sb.
- A total of 180 soil samples were taken to outline the mineralized area, revealing 35 samples with more than 1 g/t Au, notably a high of 25.6 g/t Au, and 10 samples exceeding 0.1% Sb, with a peak of 2.8% Sb.
Outstanding Historical Sampling Results
The best rock sampling results from Stibium prior have demonstrated promising gold concentrations, as previously announced. This includes:
- 141.0 g/t Au
- 64.7 g/t Au
- 62.3 g/t Au
- And several others reflecting substantial mineralization potential, with values consistently above significant thresholds.
Geological Insights and Upcoming Plans
Stibium's mineralization, hosted in quartz diorite and hornfels sedimentary rock, is positioned to foster extensive exploration opportunities, remaining open to further discovery. Nova anticipates results from additional 2024 sampling, which includes further exploration in the broader RPM and Stoney areas.
The future of antimony production is vital, particularly as the US Department of Interior categorizes it as a critical mineral for economic security. Given that the European Union is 100% reliant on imports for antimony, Nova's strategy recognizes a profound opportunity in both the national and international landscapes.
Strategic Exploration and Grant Applications
Serving as a proactive member of the Defense Industrial Base Consortium (DIBC) through its 100% owned subsidiary, Alaska Range Resources LLC, Nova is navigating the grant application process with the Department of Defense efficiently.
In a significant recent development, a proclamation from China regarding an export ban on antimony is underscoring the urgency and importance of Nova's exploration mission. This event further positions Nova Minerals Limited to play a crucial role in both national and global supply chains.
CEO Remarks on Future Plans
The CEO of Nova, Mr. Christopher Gerteisen, emphasized the urgency of resource drilling at Stibium, which has developed into a clearly defined high-grade target for both gold and antimony. The initiation of field activities for 2025 is a key priority, with targeted drilling programs aimed at advancing resource identification.
2024 Exploration Program Overview
Throughout the 2024 exploration season, Nova's Head of Exploration, Mr. Hans Hoffman, led a rigorous mapping and sampling initiative across the Estelle claim block, concentrating on the Stibium area. The program gathered 511 soil samples, 225 rock samples, and approximately 5 tons of bulk sample material.
- Assay results confirmed high-grade antimony and gold at various prospects, including the Styx prospect and Muddy Creek, significantly enlarging known mineralized zones.
- Results from Stibium have identified a well-defined, expansive gold-antimony zone that is poised for resource drilling.
Mineralization and Future Prospects
The Stibium area continues to impress with its high mineralization potential, evidenced by robust findings in surface samples. As noted, significant soil samples reach valuable thresholds, paving the way for likely further spectacular discoveries as exploration intensifies during the upcoming field season.
Frequently Asked Questions
What was the significant assay result from the Stibium prospect?
The Stibium prospect has shown impressive assay results with grades up to 141 g/t Au and 60.5% Sb.
Why is the Stibium prospect important for Nova Minerals?
It represents a defined high-grade resource target for both gold and antimony, crucial for advancing resource development and securing grant funding.
What does the exploration program entail for the upcoming year?
The 2025 program will focus on resource drilling, leveraging the current high-grade findings at Stibium and other neighboring prospects.
How does Nova Minerals position itself in relation to antimony supply issues?
With China banning antimony exports to the US, Nova aims to bridge this critical gap by developing domestic resources to meet both national and international demands.
What overall strategy does Nova have moving forward?
Nova aims to aggressively pursue antimony and gold resource advancement while exploring government grant opportunities to facilitate growth and resource extraction.
