Nova Minerals (ASX:NVA) Commences Antimony-Gold Drilling at Stibium
Main Operations Update
Nova Minerals has initiated a maiden 3,000m diamond drilling program at the Stibium prospect, adjacent to the Whiskey Bravo camp and the Korbel gold deposit. The first drill hole targets a potential high-grade gold-antimony zone identified through extensive surface sampling. Additionally, a second diamond rig and the company-owned RC rig are being mobilised to commence drilling later in June.
Funding and Expansion Plans
The company’s application for U.S. Department of Defense funding to expedite antimony production is progressing. If successful, Nova plans to add more drill rigs to the current exploration program and develop a modern antimony metallurgical processing hub at Port Mackenzie, Alaska. The hub will support both the RPM and Korbel gold operations, with ongoing discussions for a long-term land lease.
Executive Comments
CEO Christopher Gerteisen stated, “We’re excited to commence the first-ever drilling at our Stibium antimony-gold prospect—an important milestone that complements our continued focus on advancing our Tier-1 gold and antimony assets across the broader Estelle Project. With this initial drilling program, our goal is to define a maiden Mineral Resource Estimate for both gold and antimony at Stibium later this year.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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