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Highlights
- Nova launches maiden drilling at Stibium near Korbel deposit
- Potential antimony-gold resource aimed at boosting Estelle Project
- Expansion plans include advanced processing hub in Alaska
Nova Minerals (ASX:NVA) has commenced a pivotal phase in its exploration strategy with a maiden 3,000-metre diamond drilling campaign at the Stibium prospect, strategically located adjacent to the Whiskey Bravo camp and the Korbel gold deposit. This initiative represents a major milestone in the development of the company’s broader Estelle Gold Project in Alaska, targeting a dual focus on gold and the critical mineral antimony.
Aiming for High-Grade Discoveries
The drilling at Stibium kicks off with a focus on a promising zone where surface sampling has indicated potential high-grade antimony-gold mineralisation. This initial hole will be followed by the deployment of a second diamond rig and a company-owned reverse circulation (RC) rig, both set to commence operations later in June.
The program is designed to define a maiden Mineral Resource Estimate for the Stibium area, which could contribute significantly to Nova's growing resource base in the Estelle region. This initiative reinforces the company’s ambition to enhance its standing among emerging resource players within the ASX300 index.
Strategic Funding and Processing Vision
In parallel with on-ground exploration, Nova Minerals is progressing with a funding application to the U.S. Department of Defense, aimed at accelerating antimony production—an element considered strategically important for defence and technology applications.
Should this funding be secured, the company plans to expand its current drilling efforts and fast-track the development of a state-of-the-art antimony metallurgical processing facility at Port Mackenzie in Alaska. This hub will serve both the RPM and Korbel operations and could position Nova as a key supplier of antimony in North America, particularly relevant as nations look to secure non-Chinese sources of critical minerals.
Ongoing discussions for a long-term land lease at Port Mackenzie further support this development trajectory, underlining the company’s long-term commitment to infrastructure and processing capacity.
Outlook in the Broader Market Landscape
Nova’s advancements at Stibium arrive at a time when investor interest in diversified exploration companies within the ASX dividend stocks segment is rising, particularly for those with exposure to both gold and strategic metals. While dividends are typically rare in early-stage explorers, the broader sector remains one to watch as commodity demand dynamics evolve.
As Nova continues to deepen its resource profile, the ongoing developments at Stibium and across the Estelle Gold Project are poised to play a central role in shaping its future trajectory within the ASX300 landscape.
