Nova Minerals Ltd. Pursues Gold and Antimony Potential at Estelle Project
Nova Minerals Ltd. announced on Aug. 21 that it continues to explore both the precious metal and critical mineral potential at its Estelle gold-antimony project in Alaska. The project, located about 100 miles northwest of Anchorage, boasts significant resources of gold, with measured and indicated reserves of 2.72 million ounces, as well as inferred resources of 2.45 million ounces.
Focus on Critical Antimony Minerals
In addition to its gold potential, Nova is also focusing on the critical antimony potential at Estelle, especially in light of China’s impending restriction on antimony exports. The recent announcement by China to control the export of antimony starting on Sept. 15 has highlighted the importance of exploring and potentially producing antimony domestically. With no current antimony mining in the United States and China controlling a significant portion of global supply, Nova’s exploration of antimony at Estelle takes on added significance.
Exploration Efforts at Stibium
One of the key antimony targets at Estelle is the Stibium prospect, where field crews have discovered near-surface massive stibnite veining and gold-antimony zones. Nova Minerals CEO Christopher Gerteisen emphasized the potential for a quick-start antimony operation at Stibium, particularly with the impending export restrictions from China. Intensive surface sampling and exploration efforts are underway to fully assess the antimony potential at Stibium.
Upgrading Gold Resources at RPM
To unlock the gold potential at Estelle, Nova Minerals is focusing on expanding and upgrading the resources at the RPM area. With measured and indicated resources of 330,000 ounces and inferred resources of 800,000 ounces, Nova is drilling and carrying out surface sampling programs to increase the confidence in these resources. The goal is to generate cash flow through a smaller-scale operation at RPM, which can then fund the development of a larger operation at Estelle.
Focusing on U.S. Strategic Mineral Supply
Nova Minerals is also looking to highlight the critical minerals potential at Estelle, particularly in terms of antimony, to U.S. government officials. CEO Christopher Gerteisen has been invited to a U.S. Department of Defense-related conference in September to discuss how Nova could potentially help shore up the U.S. supply of critical minerals, including antimony.
Overall, Nova Minerals’ exploration efforts at Estelle encompass both gold and antimony, positioning the company to potentially contribute to domestic critical mineral supply chains while unlocking significant gold resources in Alaska.
