Nova Minerals Ltd (ASX:NVA, NASDAQ:NVA) has laid out a stepped path to large-scale gold and critical minerals mining and production at the Estelle Project in Alaska, USA.
Presenting at the ThinkEquity Conference in New York, CEO Christopher Gerteisen will outline NVA’s plans to build an initial high-grade, low-capital starter mine at the RPM deposit offering a swift pathway to cashflow to fund further expansion across the 514-square-kilometre project from a position of economic strength.
While feasibility studies are still pending for Nova’s stepped Estelle development plan, the company has a suite of options to pursue in the second phase of construction, offering a high level of flexibility.
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Extensive resource, 20-prospect pipeline
From the RPM North starter mine, NVA has its pick of which gold resource to exploit next – Estelle boasts a resource of 9.9 million ounces at 0.3 g/t gold with an update set to expand that number further later this year.
Right next door to RPM North are the RPM Valley and RPM South deposits which were drill tested last year, as well as two new regional targets which were explored with surface sampling and mapping programs this year – assay results for those expected back shortly.
Just a couple of kilometres away, the 4.5-kilometre by 2.5-kilometre Train target holds the Muddy Creek, Trumpet, Discovery, Shadow, Shoeshine and namesake Train prospects, where more than 80 rock samples graded greater than 5 g/t gold, including a high of 1,290 g/t gold.
The RPM Starter Mine plan.
Demonstrating the scalability of Estelle, the gold prospects don’t end there.
The Stoney area holds a further seven targets and the Korbel Valley area holds the Korbel Main pit and the Cathedral deposit, as well as six more prospects within a localised group.
This is also where Nova is considering a central processing plant, with the secondary option being an area between the RPM and Train regional targets.
Overall, Estelle’s gold pipeline offers 20 solid prospects with potential for decades of gold mining production.
Expanded production plan.
Antimony and critical minerals potential
Apart from the extensive gold at Estelle, a potentially lucrative opportunity has also taken shape at the Stibium Antimony-Gold Prospect.
Earlier this year, a ban on Chinese exports of antimony threw the critical mineral into the spotlight – China produced 48% of the world’s antimony in 2024 and holds 32% of global resources.
The silvery metal’s application in defence, particularly in night vision and infrared sensors, explosive formulas and nuclear weapons production, has drawn the US Department of Defense’s attention.
Nova Minerals has been in close discussion with US officials since discovering antimony at Stibium – the deposit is shaping up as a high-grade, low-capex opportunity with potential for DOD funding and early cashflow alongside the RPM starter mine.
Stibium antimony mine plan.
Whichever development pathway Nova chooses, the company’s end goal is to turn Estelle into a scaling multi-decade gold project with multiple mining centres and a robust range of commodities – including gold, antimony, silver, copper and critical minerals.
With economies of scale on Nova’s side, the project offers a sizeable and growing gold resource, multiple critical mineral opportunities including highly sought-after antimony, and several development options ranging from a stepped, measured and independent ramp-up of operations to a rapid, large-scale development with potential investment from a strategic partner.
With the gold price still hovering at all-time highs around US$2,744 per ounce and demand for antimony only growing, the stage is well set for Nova to realise Estelle’s potential.
For a closer look at the Estelle Project, a Vrify 3D interactive presentation is available on Nova’s website.