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Nova Minerals Finds Antimony up to 56.7% from Latest Rock Samples at the Stibium prospect on its Estelle Gold and Critical Minerals Project, in Alaska

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Nova Minerals has announced significant antimony discoveries at its Stibium prospect within the Estelle Gold and Critical Minerals Project in Alaska. The 2024 exploration season revealed an extensive antimony-rich zone measuring 800m by 400m, with exceptional grades up to 56.7% Sb from rock samples.

Key findings include multiple high-grade samples above 30% Sb, with the top samples measuring 56.7%, 55.7%, 54.8%, and 54.5% Sb. The company collected a 2,500kg bulk sample for metallurgical testing and completed an extensive sampling program with 80 rock samples and 180 soil samples.

As a member of the Defense Industrial Base Consortium (DIBC), Nova is advancing with Department of Defense grant applications, particularly significant given China's recent ban on antimony exports to the US. Antimony is listed as a critical mineral by both US and EU authorities.

Nova Minerals ha annunciato importanti scoperte di antimonio presso il suo giacimento Stibium all'interno del progetto Estelle Gold e Critical Minerals in Alaska. La stagione di esplorazione del 2024 ha rivelato una vasta zona ricca di antimonio che misura 800 m per 400 m, con gradi eccezionali fino a 56,7% Sb dai campioni di roccia.

Le scoperte chiave includono diversi campioni ad alta grado superiori al 30% Sb, con i campioni migliori che misurano 56,7%, 55,7%, 54,8% e 54,5% Sb. L'azienda ha raccolto un campione bulk di 2.500 kg per test metallurgici e ha completato un ampio programma di campionamento con 80 campioni di roccia e 180 campioni di suolo.

In quanto membro del Defense Industrial Base Consortium (DIBC), Nova sta portando avanti le domande di sovvenzione del Dipartimento della Difesa, particolarmente significative data la recente proibizione della Cina sulle esportazioni di antimonio verso gli Stati Uniti. L'antimonio è elencato come minerale critico dalle autorità statunitensi ed europee.

Nova Minerals ha anunciado importantes descubrimientos de antimono en su prospecto Stibium dentro del Proyecto Estelle de Oro y Minerales Críticos en Alaska. La temporada de exploración de 2024 reveló una extensa zona rica en antimono de 800 m por 400 m, con grados excepcionales de hasta 56,7% Sb de muestras de roca.

Los hallazgos clave incluyen múltiples muestras de alta ley por encima del 30% Sb, con las mejores muestras midiendo 56,7%, 55,7%, 54,8% y 54,5% Sb. La empresa recolectó una muestra a granel de 2,500 kg para pruebas metalúrgicas y completó un extenso programa de muestreo con 80 muestras de roca y 180 muestras de suelo.

Como miembro del Defense Industrial Base Consortium (DIBC), Nova avanza con las solicitudes de subvención del Departamento de Defensa, lo que es particularmente significativo dado la reciente prohibición de China sobre las exportaciones de antimono a EE.UU. El antimono está listado como un mineral crítico tanto por las autoridades estadounidenses como por las de la UE.

노바 미네랄스는 알래스카 에스텔 골드 및 주요 광물 프로젝트 내 스티븀 탐사에서 중요한 안티몬 발견을 발표했습니다. 2024년 탐사 시즌은 800m x 400m 규모의 광범위한 안티몬 농축 지역을 드러냈으며, 암석 샘플에서 최대 56.7% Sb에 이르는 뛰어난 품질을 보였습니다.

주요 발견 내용으로는 30% Sb 이상이 측정된 여러 고품질 샘플이 있으며, 가장 우수한 샘플은 각각 56.7%, 55.7%, 54.8%, 54.5% Sb입니다. 이 회사는 금속 테스트를 위해 2,500kg의 대량 샘플을 수집하고 80개의 암석 샘플과 180개의 토양 샘플로 광범위한 샘플링 프로그램을 완료했습니다.

방위 산업 기지 컨소시엄(DIBC)의 일원으로서 노바는 국방부 보조금 신청을 진행하고 있으며, 이는 중국의 안티몬 수출 금지 조치를 고려할 때 특히 중요합니다. 안티몬은 미국과 EU 당국 모두에 의해 중요한 광물로 분류되고 있습니다.

Nova Minerals a annoncé d'importantes découvertes d'antimoine sur son prospect Stibium dans le cadre du projet Estelle Gold et Mineraux Critiques en Alaska. La saison d'exploration 2024 a révélé une vaste zone riche en antimoine mesurant 800 m sur 400 m, avec des teneurs exceptionnelles allant jusqu'à 56,7 % Sb provenant d'échantillons de roche.

Les principales découvertes incluent plusieurs échantillons de haute teneur supérieurs à 30 % Sb, les meilleurs échantillons mesurant 56,7 %, 55,7 %, 54,8 % et 54,5 % Sb. L'entreprise a collecté un échantillon en vrac de 2 500 kg pour des tests métallurgiques et a complété un vaste programme d'échantillonnage avec 80 échantillons de roche et 180 échantillons de sol.

En tant que membre du Defense Industrial Base Consortium (DIBC), Nova poursuit les demandes de subvention auprès du Département de la Défense, ce qui est particulièrement significatif étant donné l'interdiction récente de la Chine concernant les exportations d'antimoine vers les États-Unis. L'antimoine est classé comme un minéral critique par les autorités américaines et européennes.

Nova Minerals hat bedeutende Antimonentdeckungen in ihrem Stibium-Vorkommen im Estelle Gold- und Critical Minerals-Projekt in Alaska bekannt gegeben. Die Erkundungssaison 2024 hat eine ausgedehnte antimonhaltige Zone von 800 m mal 400 m offenbart, mit außergewöhnlichen Gehalten von bis zu 56,7% Sb aus Gesteinsproben.

Zu den wichtigsten Ergebnissen gehören mehrere hochwertige Proben über 30% Sb, wobei die besten Proben 56,7%, 55,7%, 54,8% und 54,5% Sb messen. Das Unternehmen hat eine 2.500 kg schwere Bulkprobe für metallurgische Tests gesammelt und ein umfassendes Probenprogramm mit 80 Gesteinsproben und 180 Bodenproben abgeschlossen.

Als Mitglied des Defense Industrial Base Consortium (DIBC) arbeitet Nova an Anträgen für Fördermittel des Verteidigungsministeriums, was angesichts des kürzlichen Verbots von Antimonexporten nach den USA durch China besonders relevant ist. Antimon gilt sowohl in den USA als auch in der EU als kritisches Mineral.

Positive
  • Discovery of extensive high-grade antimony zone (800m x 400m) with exceptional grades up to 56.7%
  • 11 rock samples grading >30% Sb from 80 total samples
  • Strategic position as DIBC member with advanced DoD grant application status
  • Project location in US territory amid China's antimony export ban
Negative
  • Bulk sample location showed lower grades (0.5% Sb) compared to other samples
  • Still awaiting further antimony soil and gold rock sample assay results

Insights

The discovery of high-grade antimony at the Stibium prospect represents a significant development for Nova Minerals. With antimony grades up to 56.7% and an extensive mineralized zone measuring 800m by 400m, this finding is particularly noteworthy given the current geopolitical context. China's recent export ban on antimony to the US has created a strategic opportunity, as antimony is classified as a critical mineral by both US and EU authorities.

The company's membership in the Defense Industrial Base Consortium (DIBC) and advanced position in DoD grant applications could accelerate project development through government funding. The prospect's high-grade nature and substantial bulk sample collection of 2,500kg for metallurgical testing indicate serious development intentions.

The extensive sampling program, including 80 rock samples and 180 soil samples, demonstrates systematic exploration approach. With 11 samples grading above 30% Sb, the consistency of high-grade findings suggests robust mineralization potential.

The timing of this antimony discovery is strategically significant. With China producing 54% of global antimony and recently banning exports to the US, domestic antimony sources have become important for US national security. The Stibium prospect's location in Alaska provides a potential secure domestic supply chain solution.

The grade quality is exceptional - antimony deposits typically grade between 2-4%, making these results of up to 56.7% Sb remarkably high-grade. The extensive mineralized zone and open-ended nature of the deposit suggest significant expansion potential. The company's advanced position in DoD grant applications could provide non-dilutive funding for development, potentially accelerating the project timeline while preserving shareholder value.

Anchorage, Alaska, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Nova Minerals Limited (“Nova” or the “Company”) (NASDAQ: NVA) (ASX: NVA) (FRA: QM3) is pleased to announce antimony rock chip assay results from its 2024 exploration season confirming an extensive 800m long by 400m wide antimony rich zone at its Stibium prospect, within its over 500km2 flagship Estelle Gold and Critical Minerals Project located in the Tintina Gold Belt in Alaska.

Highlights

  • Follow-up reconnaissance mapping and sampling has proven an extensive antimony rich zone at Stibium with grades up to 56.7% Sb.
  • Best 2024 rock sampling results at Stibium include (Table 1 and Figures 1, 4 and 5):
    • 56.7% Sb
    • 55.7% Sb
    • 54.8% Sb
    • 54.5% Sb
    • 46.2% Sb
    • 45.9% Sb
    • 43.3% Sb
  • Samples from the initial discovery in 2023 measured 60.5% and 2.1% Sb (ASX Announcement: 10 October 2023).
  • The Stibium occurrence is hosted in quartz diorite intrusive rocks and hornfels sedimentary rock over an approximately 800m long by 400m wide zone, and remains open.
  • A 2,500kg bulk sample was collected for metallurgical test work.
  • Awaiting further antimony soil and gold rock and soil sample assay results for Stibium.
  • Results incoming on the remainder of the 2024 sampling, including further regional exploration from the broader RPM and Stoney areas.
  • Nova Minerals, through our 100% owned subsidiary Alaska Range Resources LLC, is a member of the Defense Industrial Base Consortium (DIBC), and as an early mover is well advanced with the Dept of Defense (DoD) grant application process.
  • Antimony is listed as a critical and strategic mineral to US economic and national security interests by the US Department of Interior. The European Union also has antimony on their critical materials list and both are 100% import reliant.
  • China, which produces ~54% of the worlds antimony, recently banned all exports of the critical mineral to the US (See news article here).

Nova CEO, Mr Christopher Gerteisen commented: “With these results we begin to appreciate the potential size and tenor of the impressive antimony discovery at the Stibium prospect. We also anxiously await the 2024 gold results which have previously delivered up to 12.7 g/t Au (ASX Announcement 10 October 2023). These results show Stibium to be an exceptional high grade antimony-gold drill ready prospect that the Company will prioritize moving forward and advance towards resource definition to continue to increase and prove-up the total resource inventory across the Estelle Gold and Critical Minerals Project, which already includes the high-grade RPM gold deposit and the bulk tonnage Korbel gold deposit. The company is now well advanced with its applications towards US government grant funding in pursuit of these efforts.”

Nova Head of Exploration, Mr Hans Hoffman commented: “As mentioned earlier this year, our field crews hit Stibium with intensity this season – collecting 80 rock samples and 180 soil samples. Our primary objective was to delineate the anomaly from 2023. I feel like we located the heart of it, but mineralization likely extends to the north and the south.”

2024 Exploration Mapping and Sampling Program Results

During the 2024 field season Nova’s Head of Exploration, Mr. Hans Hoffman, continued the surface exploration mapping and sampling program across the Estelle claim block with a particular focus on following up results at prospects identified in the 2023 season. 511 soil samples, 225 rock samples, and approximately 5 tons of bulk sample material were collected across the property (Figure 2).

As a result of that program, and reported to date:

  • Assay results from soil and rock chip samples from the Styx prospect identified high-grade antimony (Sb) and gold in outcrop, with grades up to 54.1% Sb and 9.8 g/t Au (ASX Announcement: 22 November 2023).
  • Assay results from soil and rock chip samples collected from the Muddy Creek prospect, with a high of 128.5 g/t Au, have extended the high-grade gold mineralization zone by a further 400m to 800m in length now. Muddy Creek is considered to be one of the most impressive gold anomalies on the claim block to date (ASX Announcement: 27 November 2024), and

Assay results for antimony from rock samples collected at the Stibium prospect have been received and identified an 800m long by 400m wide antimony rich zone with results of up to 56.7% Sb and 11 samples grading > 30% Sb, as reported in this announcement.

Further results from the soil and rock chip samples taken from across the project area in 2024 will be reported once received and processed.

Figure 1. Stibium antimony rock sample results (2023 sampling shown as transparent)

Figure 2. Estelle property map showing the sampling program undertaken in 2024

Stibium Surface Sampling

Field crews conducted an extensive surface sampling program over the Stibium area this year which for the first time also specifically targeted stibnite, which is the primary ore source for antimony. A total of 80 rock samples were collected, 11 of which were greater than 30% Sb, including a high of 56.7% Sb. 180 soil samples were also collected from the area, with assay results for antimony soil and gold rock and soil samples from Stibium still outstanding. The Stibium occurrence is hosted in quartz diorite intrusive rocks and hornfels sedimentary rock over an approximately 800m long by 400m wide zone, and remains open.

Table 1 provides a summary of the antimony grades in all rock samples greater than 1% Sb.

Sample IDSub-typeSb_%EastingNorthing
E406754Talus high-grade56.75123666870100
E406765Talus vein55.75125366870064
E406807Float high-grade54.85125546870099
E406774Outcrop vein54.55126056870119
E406929Talus high-grade46.25124986870230
E406767Sub-crop vein45.95125316870080
E406933Talus high-grade43.35124946870221
E406930Talus vein35.35124976870226
E406932Talus high-grade34.95124946870234
E406769Sub-crop vein32.75125956870114
E406918Talus high-grade32.65123296870394
E406768Sub-crop vein19.35125226870079
E406806Sub-crop high-grade19.15125276870071
E406766Sub-crop vein4.35125406870063
E406926Outcrop high-grade2.85124156869958
E406758Composite chip2.05124166869952
E406760Composite chip2.05124166869954


Table 1.
Top antimony rock sample results at Stibium

A 2,500kg bulk sample was also collected at the location of the inset shown in Figure 1 above (ASX Announcement: 10 September 2024). This sample was collected in a hydrothermal breccia hosted in hornfels near the contact with a quartz diorite. The bulk sample location didn’t exhibit the thick high-grade veins found in outcrop and talus above, but more fine-grained disseminated sulfides and patchy stibnite. A composite chip sample was collected across this zone prior to bulk sampling, with those grades average 0.5% Sb, as evidenced in Table 2 below.

Sample IDEastingNorthingFromToSb_%Sb_ppm
E40675551241668699490.00.6 1505
E40675651241668699500.61.1 829
E40675751241668699511.11.4 908
E40675851241668699521.41.62.019900
E40675951241668699531.61.8 8170
E40676051241668699541.82.32.019500
E40676151241668699552.32.8 569
E40676251241668699562.83.5 243


Table 2.
Stibium composite chip sample results – 3.5m at 0.5%Sb


Figure 3. Stibium Composite Chip Sample Location – 3.5m at 0.5%Sb

Sample E406941 had the highest antimony content at 54.1%. As shown in Figure 3, it exhibits well-developed crystals with shiny metallic luster. This sample was from a newly discovered outcropping quartz vein located approximately 130 meters southwest and 100 meters in elevation below the main occurrence. This may be an extension of the main occurrence, but is difficult to determine due to the undulating nature of both the veins (Figure 5).

As evidenced in Figure 1 and on Table 2, there were some very high-grade antimony veins located throughout the prospect. Sample E406765 (55.7% Sb) was a talus vein sample that led to the discovery of numerous outcrop/sub-crop samples directly above ranging from 19% Sb to 46% Sb. Figure 4 below shows the radiating needles indicative of antimony bearing stibnite.


Figure 4. Samples E406765 (55.7% Sb) and E406767 (45.9% Sb)

Sample E406774 was a sample of a 5cm thick anastomosing stibnite vein hosted in quartz diorite showing well developed needles in Figure 5 below.


Figure 5. Sample E406774 (54.5% Sb)

Defense Industrial Base Consortium (DIBC) Membership and Grant Application Progress

Nova Minerals, through our 100% owned subsidiary Alaska Range Resources LLC, has been a member of the DIBC for over 6 months and has positively progressed with the resources and synergies it provides. The DIBC enables rapid research, access to commercial solutions for defense requirements, and innovations from industry, academia, and non-traditional contractors. DIBC members focus on identifying, developing, and testing cutting-edge capabilities at the speed of innovation.

Recognizing the potential of its antimony discovery early on, Nova is a first mover in the space and now well advanced within the Dept of Defense (DoD) grant application process to potentially rapidly develop its antimony and other critical minerals prospects identified across the Estelle Gold and Critical Minerals District. The company looks forward to keeping the market updated on this progress.

The 3D Vrify decks on the company’s website will be updated with the 2024 surface sampling exploration results when all the assays for the soil and rock chip samples taken across the entire Estelle Gold and Critical Minerals Project have been received back from the laboratory.

Qualified Persons

Vannu Khounphakdee, Professional Geologist and member of Australian Institute of Geoscientists contracted by Nova Minerals to provide geologic consulting services. Mr. Khounphakdee holds a Master of Science in Mine Geology and Engineering. He is a qualified person with at least 5 years experience with this type of project. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Khounphakdee fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for data QA/QC checks relevant to this announcement.

Hans Hoffman is a State of Alaska Certified Professional Geologist contracted by Nova Minerals to provide geologic consulting services. Mr. Hoffman is a member of the American Institute of Professional Geologists and holds a Bachelor of Science degree in Geological Engineering with a double major in Geology and Geophysics. He is a qualified person with at least 5 years of experience with these types of projects. By reason of education, affiliation with a professional association, and past relevant work experience, Mr. Hoffman fulfills the requirements of Qualified Person (QP) for the purposes of SEC Regulation SK-1300 for the technical information presented in this announcement.

Christopher Gerteisen, Chief Executive Officer of Nova Minerals, is a Professional Geologist and member of Australian Institute of Geoscientists, and has supervised the preparation of this news release and has reviewed and approved the scientific and technical information contained herein. Mr. Gerteisen is a "qualified person" for the purposes of SEC Regulation S-K 1300.

About Nova Minerals Limited

Nova Minerals Limited is a Gold, Antimony and Critical Minerals exploration and development company focused on advancing the Estelle Project, comprised of 514 km2 of State of Alaska mining claims, which contains multiple mining complexes across a 35 km long mineralized corridor of over 20 advanced Gold and Antimony prospects, including two already defined multi-million ounce resources, and several drill ready Antimony prospects with massive outcropping stibnite vein systems observed at surface. The 85% owned project is located 150 km northwest of Anchorage, Alaska, USA, in the prolific Tintina Gold Belt, a province which hosts a >220 million ounce (Moz) documented gold endowment and some of the world's largest gold mines and discoveries including, Barrick's Donlin Creek Gold Project and Kinross Gold Corporation's Fort Knox Gold Mine. The belt also hosts significant Antimony deposits and was a historical North American Antimony producer.

Further discussion and analysis of the Estelle Gold Project is available through the interactive Vrify 3D animations, presentations, and videos, all available on the Company’s website. www.novaminerals.com.au

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Nova Minerals Limited’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and Nova Minerals Limited undertakes no duty to update such information except as required under applicable law.

For Additional Information Please Contact
Craig Bentley
Director of Finance & Compliance & Investor Relations
E: craig@novaminerals.com.au
M: +61 414 714 196


FAQ

What are the highest antimony grades found at Nova Minerals' Stibium prospect in 2024?

The highest antimony grades found at Nova Minerals' (NVA) Stibium prospect in 2024 include 56.7%, 55.7%, 54.8%, and 54.5% Sb from rock samples.

How large is the antimony-rich zone discovered at Nova Minerals' Stibium prospect?

The antimony-rich zone at Nova Minerals' (NVA) Stibium prospect measures 800 meters long by 400 meters wide and remains open.

What is the size of the bulk sample collected by Nova Minerals at Stibium in 2024?

Nova Minerals (NVA) collected a 2,500kg bulk sample at the Stibium prospect for metallurgical test work.

How many rock samples were collected during Nova Minerals' 2024 Stibium exploration program?

Nova Minerals (NVA) collected 80 rock samples and 180 soil samples during their 2024 Stibium exploration program.

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