Nova Minerals Eyeing US Department of Defense Support for Stibium Prospect

08:24 AM EDT, 08/21/2024 (MT Newswires) -- Nova Minerals (NVA) said Wednesday it is considering seeking support from the US Department of Defense to fast track its Stibium gold-antimony prospect development plan in light of China's export restrictions on antimony.

The company said Chief Executive Christopher Gerteisen was invited to a DOD-related conference in September to discuss the antimony potential at the Estelle Gold Project in Alaska and show that the company could potentially supply the government with antimony.

Nova said its field programs on the Estelle Gold Project in Alaska has completed drilling 11 holes for its ongoing feasibility study of the exploration area.

To begin production as soon as possible, Nova said it is looking at starting with low capital spending for a smaller scale operation at a high-grade deposit before increasing spending as margins expand.