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In response to recent geopolitical developments, Nova Minerals Ltd (ASX, OTCQB) has initiated bulk testing of stibnite, an antimony-rich material, at its Estelle Gold and Critical Minerals District in Alaska.
Advancing Antimony Production
The bulk testing effort aligns with the company's strategic focus on preparing for near-term antimony production, driven by increasing demand for domestic antimony supplies in the United States. Nova Minerals has gathered 2,500 kilograms of stibnite from the Stibium prospect and an additional 500 kilograms from Styx. These samples will undergo metallurgical testing to establish a process flow sheet and plant design.
The company is evaluating a rapid development scenario for standalone antimony production, which may also include gold credits as a supplementary benefit. Additional antimony-rich samples have been sent to the ALS laboratory for further analysis, with results anticipated in the near future.
Engagement with U.S. Government
In light of China's recent export restrictions on antimony, Nova Minerals is positioning itself to help establish a secure domestic supply chain for the U.S. The company is collaborating with various U.S. government agencies, including the Department of Defense (DoD), to secure grant funding aimed at expediting the Estelle antimony production process.
A proposal for grant funding has been submitted to the DoD, with the belief that the current geopolitical climate makes this a timely opportunity. As surface mapping and sampling continue at Stibium and Styx, drilling plans are underway to explore significant stibnite vein zones, with previous results indicating high-grade mineralization.
CEO’s Insights
Christopher Gerteisen, CEO of Nova Minerals, commented on the initial antimony discovery results at Stibium, noting the encouraging data. The 2024 follow-up field programs have confirmed the extensive presence of significant antimony mineralization across multiple prospects at Estelle, including Stibium and Styx.
Gerteisen emphasized that with ongoing efforts to secure domestic antimony supply chains in the U.S., the company is well-positioned to advance these prospects toward development. The bulk sampling and subsequent metallurgical test work aim to develop a process flow sheet and plant design for producing saleable antimony products promptly.
Nova Minerals remains focused on this potential early cash flow opportunity through a standalone antimony operation, separate from its larger RPM and Korbel gold projects, which continue to progress concurrently.
