Nova Minerals Collects Bulk Antimony Material for Test Work at its Estelle Gold-Antimony Project, in Alaska
Anchorage, Alaska, Sept. 05, 2024 (GLOBE NEWSWIRE) -- 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.”