Field observations and now soil and rock chip assay results have confirmed the discovery by Nova Minerals Ltd (ASX:NVA, OTCQB:NVAAF) of antimony-rich gold anomalies at two new prospects within the company’s flagship Estelle Gold Project in Alaska’s prolific Tintina Gold Belt.
Antimony is listed as a critical mineral to US economic and national security interests by the US Department of Interior, a position also held by the likes of cobalt, uranium and rare earths.
The assay results come from an extensive surface mapping and sampling exploration program at the newly identified Stibium and Styx prospects at Estelle, undertaken by Nova head of exploration Hans Hoffman.
Hoffman said, “It continues to amaze me what remains to be discovered at Estelle. Our steady boots-on-the-ground approach will continue to unlock the potential of this remarkable land package as evidenced by these two new discoveries at Stibium and Styx.”
The results: Antimony-enriched gold
Surface sampling results from the 2023 exploration program include 12.7 g/t gold, 2.1% antimony plus 1600 g/t silver; 5.9 g/t gold plus 0.04% antimony; 3.6 g/t gold plus 0.07% antimony; and 1.5 g/t gold plus 60.5% antimony at the Stibium prospect.
At Styx prospect, results included 1.2 g/t gold plus 19% antimony; 0.9 g/t gold plus 21.7% antimony; and 0.8 g/t gold plus 1.7% antimony.
These results clearly indicate the presence of antimony-enriched style gold mineralisation within the Estelle Gold Trend.
Gold and antimony in focus
The technical team will now include antimony analysis as part of its assay protocol in ongoing exploration and resource work to determine the potential of antimony as a byproduct in future economic studies.
Nova CEO Christopher Gerteisen said, “While Nova’s primary focus continues to be on the gold, the discovery of high-grade stibnite, a primary ore source for antimony, associated with the gold system emerging at Estelle, represents a significant development for the company as antimony is listed as a critical and strategic mineral to US economic and national security interests by the US Department of Interior.
“Our technical team, together with our bankers and consultants are now assessing the potential scale of this discovery, along with any possible US federal grants and funding the company may be able to access, and the additional value that it could add to the project, via the opportunity to domestically supply a critical mineral upon which the US is currently 100% reliant on from international suppliers, predominantly China and Russia.
“As we continue on our path to commercial gold production, antimony which has the potential to provide substantial bi-product credits amongst other benefits, may now also be a factor in our future studies.”
A US critical mineral
Antimony’s properties are its resistance to heat and flames and its ability to harden and strengthen certain materials and metals. It is used in numerous high-tech applications, batteries, flame retardants and is of critical strategic importance to the US defense industrial supply chain. However, the US currently produces no antimony and is almost entirely reliant on China, and Russia to an extent, for its supply.
Alongside a host of other critical minerals, including titanium, tungsten, cobalt and lithium, the US Government is taking steps to shore up its supply of antimony for the 'national defense stockpile' amid increased anxiety over Chinese domination of resources critical to the defense industrial base.
Having observed US federal funding being granted to a number of companies who have identified a potential US domestic supply of critical minerals, Nova has now commenced discussions with its advisors to approach the US Department of Defense and US Department of Energy to determine if grant and funding options are available to assist it in progressing this potentially strategic domestic discovery.