Nova Minerals Updates on Estelle Gold-Antimony Project
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Nova Minerals Provides Update on Estelle Gold-Antimony Project
Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FSE: QM3) is pleased to provide an update on its drilling and exploration programs at its over 500km2 flagship Estelle Gold Project, located in the Tintina Gold Belt, where RPM drilling for the completion of its Feasibility Study (FS) is progressing, and surface sampling for gold-antimony at its Stibium prospect continues to show promising results.
Highlights of the Exploration Program
Development Optionality: The Feasibility Study (FS) underway is evaluating strategies for potential production with a scalable operation, including:
- Establishing a lower capex smaller scale operation at the high-grade RPM deposit for near-term cash flow.
- Developing a higher capex large-scale mining operation with increased gold production, which is attracting interest from potential strategic partners.
- Researching opportunities to fast-track the Stibium gold-antimony prospect development, notably with US Department of Defense (DoD) support.
Environmental studies are progressing and Lidar surveys have been completed for detailed technical studies and road design.
RPM Drilling Progress
The resource definition drilling has progressed with 11 holes completed to date, targeting near-surface inferred material to enhance resources for the FS. An extensive surface exploration sampling program is also underway around the RPM area to extend existing and delineate additional high-grade mineralized zones.
Stibium Exploring Potential
At Stibium, extensive surface sampling continues to follow up on a previously discovered 2m-wide surface vein containing stibnite, which exhibited outstanding gold and antimony grades. Bulk samples are being collected for metallurgical testing in Alaska and Australia.
CEO Insights on Current Progress
Nova's exploration team, led by Head of Exploration Hans Hoffman, shared insights on the ongoing drilling and exploration efforts. The focus remains on upgrading resources at the RPM deposit while conducting intensive evaluations of the Stibium prospect.
CEO Christopher Gerteisen remarked on the substantial opportunities presented by the Stibium prospect, especially in light of recent events affecting antimony supply. Nova plans to continue assessing the potential for a standalone operation in this area.
Nova’s Strategic Milestones
The ongoing drilling program aims to convert inferred resources into higher measured and indicated categories, with drilling focused on high-grade zones within the core of the RPM deposit. Lidar terrain analysis is expected to enhance targeting for future drilling endeavors.
About Nova Minerals Limited
Nova Minerals Limited is focused on exploring and developing critical minerals, particularly gold. The Estelle Gold Project covers 513 km2 of mining claims and includes multiple mining complexes along a 35 km long mineralized corridor. The company is committed to advancing exploration efforts and ensuring the supply chain security of critical minerals.
For Additional Information Please Contact
Craig Bentley
Director of Finance & Compliance & Investor Relations
E: craig@novaminerals.com.au
M: +61 414 714 196
Frequently Asked Questions
What is the Estelle Gold-Antimony Project?
The Estelle Gold-Antimony Project is Nova Minerals' flagship project located in the Tintina Gold Belt, covering over 500 km2 and hosting multiple gold prospects.
What drilling activities are currently taking place?
Nova has ongoing drilling programs at the RPM and Stibium prospects aimed at increasing gold and antimony resource estimates.
What is the significance of the Stibium prospect?
The Stibium prospect is particularly promising due to its abundant antimony, which has become critical following restrictions on exports from China.
How does Nova Minerals plan to develop the RPM deposit?
Nova aims to establish a lower capex operation at the RPM deposit to generate cash flow while exploring larger-scale mining options for enhanced production.
Who can I contact for more information about Nova Minerals?
Interested parties can contact Craig Bentley, Director of Finance & Compliance & Investor Relations, via email at craig@novaminerals.com.au.
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