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Highlights:
Strong gold and antimony mineralisation reported across multiple prospects at Estelle in Alaska
Pre-feasibility study activities progressed, including metallurgical and environmental evaluations
Debt-free status achieved as of March with increased engagement across US defence channels
Nova Minerals Ltd (ASX:NVA) reported continued progress across its Estelle Gold and Critical Minerals Project during the March quarter, focusing on high-grade discoveries and resource advancement activities. The company operates in the gold stocks and strategic minerals sector, with the Estelle project located in Alaska.
High-Grade Sampling Across Wombat and RPM Prospects
The final results from Nova’s surface sampling campaign revealed high-grade gold values at the Wombat prospect, with a defined mineralised strike extending across a considerable distance. A significant portion of the samples returned values above the industry-recognised threshold for high-grade classification. Additional multi-element testing identified elevated levels of gallium, a critical mineral recognised by the United States.
The RPM Regional area also returned notable gold results. Rock and soil sampling outlined an extended zone of mineralisation. The distribution of values across both soil and glacial till highlighted broad dispersion across the region, further reinforcing the scale of mineral occurrence.
Expansion of Critical Minerals at Stibium and Stoney
At the Stoney prospect, Nova outlined a polymetallic anomaly that includes gold, copper, silver, and antimony. Structural exposure across multiple geological features indicates sustained mineralisation with significant vertical and horizontal spread.
Stibium assays defined a new area enriched in gold and antimony, planned for further drilling. Sampling included rock and soil values, with notable concentrations of antimony in multiple collected specimens. The company highlighted this area as central to its strategy for supporting the US supply chain in critical materials.
Pre-Feasibility and Strategic Engagement Activities
Throughout the March quarter, Nova continued its pre-feasibility study (PFS) work across a range of technical domains. This included metallurgical analysis, environmental test programs, and trade-off studies to support future development decisions. The company’s presence at multiple defence-related events in the United States aligns with its strategy of engaging with government initiatives regarding critical mineral supply.
Infrastructure access planning also moved forward during the period, with updates anticipated around key transport links including the West Susitna Access Road.
Corporate Position and Financial Overview
By the end of the March quarter, Nova reported a strengthened financial position with a clean balance sheet. This followed the full conversion of its outstanding convertible loan and inflows from the sale of equity in a related company. Capital allocations during the quarter supported fieldwork, administrative functions, and legal and consulting expenses related to antimony development efforts.
Payments included expenditures on grant consulting, corporate governance, and director-related remuneration. The elimination of debt allows for increased flexibility in allocating capital to project development and critical engagement activities.
Path Forward for Estelle Project Development
Nova Minerals intends to build on the current quarter’s exploration and study results by expanding its work on metallurgical evaluations, environmental compliance, and infrastructure readiness. The release of trade-off studies and updated Mineral Resource Estimates compliant with both JORC and S-K 1300 standards remains a priority.
The Estelle Project includes over twenty distinct prospects, offering a multi-deposit framework for development. With elevated global interest in secure supply chains, particularly around antimony and gallium, the company’s dual focus on gold and critical minerals places it among key ASX 200 listed gold stocks, with a diversified resource footprint in a jurisdiction aligned with strategic material initiatives.
