Nova Minerals (ASX: NVA, NASDAQ: NVA, FRA: QM3) has commenced drilling at its Stibium prospect, targeting both gold and antimony. The program aims to establish a maiden Mineral Resource Estimate (MRE) for both metals. A 3,000m diamond drill program is underway, focused on a high-grade gold-antimony zone identified through surface sampling. Standout results include up to 60.5% Sb in rock samples, 2.8% Sb in soil samples, 141 g/t Au in rock samples, and 25.6 g/t Au in soil samples.
A second diamond drill rig and the company’s reverse circulation (RC) rig are being mobilized and are expected to begin drilling later in June. The drilling strategy remains flexible and will be assessed based on initial drill core observations. If Nova secures funding from the U.S. Department of Defense (DoD), it plans to scale up operations, adding further diamond drill rigs.
Nova’s application for DoD funding to accelerate antimony production is progressing. If successful, the company intends to expand drilling capacity and develop a state-of-the-art antimony metallurgical processing hub at Port Mackenzie, Alaska. Nova is in discussions with the Port Mackenzie Authority to secure a long-term land lease. The company also plans to engage with potential antimony off-take partners and employ a world-leading antimony refining expert.
CEO Christopher Gerteisen stated that Stibium remains untested at depth, and the goal is to define a maiden MRE for gold and antimony later this year. He added that potential DoD funding could rapidly expand drilling capacity, positioning Nova to help re-establish Alaska as a strategic supplier of antimony to the United States, enhancing national security and supply chain resilience.
