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How is Nova Minerals Advancing Its Exploration at the Stibium and Styx Prospects? — ASX:NVA| ASX Mining News & Discussion
L
Lykeshares
2y
Official
$NVA
How is Nova Minerals Advancing Its Exploration at the Stibium and Styx Prospects?
Nova Minerals Limited Announces Exciting Developments in Gold Exploration
Nova Minerals Limited, listed on the ASX, has reported significant progress in its exploration activities, particularly in gold, antimony, copper, and silver, across various prospects in Western Australia.
Remarkable High-Grade Discoveries
A record rock chip sample of 1,290 g/t Au, along with numerous high-grade samples for gold, antimony, copper, and silver, has been reported at the Shoeshine and Shadow prospects (ASX Announcement: 20 November 2023).
Discovery and Muddy Creek Prospects
The company has discovered a continuous high-grade zone at the new Discovery and Muddy Creek prospects, featuring a 1.5km long surface gold anomaly. This includes 18 rock samples grading over 10 g/t Au, with a peak of 127.5 g/t Au, and 15 soil samples over 2/g/t Au, with a maximum of 6.1 g/t Au (ASX Announcement: 5 December 2023).
New Gold-Antimony Prospect Areas
Two new prospect areas, Stibium and Styx, have been identified with surface samples returning up
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to 12.7g/t Au, 2.1% Sb, 1600g/t Ag, and 1.5g/t Au, 60.5% Sb (ASX Announcement: 10 October 2023).
High-Grade Findings at Train and Trumpet Prospects
Significant high-grade gold, silver, copper, and antimony results have been recorded at the Train and Trumpet prospects, including a high of 132.5 g/t Au, 1.2% Cu, and 0.1% Sb, with one sample showing an exceptionally high 16.8% Sb (ASX Announcement: 16 November 2023).
Expansion of Mining Claims
Nova has staked additional State of Alaska mining claims, expanding the project area to over 513km² (ASX Announcement: 6 October 2023).
Antimony Discovery and Strategic Review
The high-grade stibnite discovery, a primary source for antimony, is strategically significant due to its association with the gold systems at several prospects. Nova has appointed a national consulting group and assembled an internal team to access potential US federal grants and funding (Figures 7 and 8).
Strategic Review for PFS Level Studies
Nova appointed METS Engineering and Rough Stock Mining Services to establish a right-sized starter operation, focusing on minimizing capex and finding a steady-state mine plan (ASX Announcement: 6 November 2023).
Snow Lake Lithium Portfolio Expansion
Nova owns a 32.5% share in Snow Lake Lithium, which has expanded its lithium claims next to the Tanco mine in Manitoba, Canada.
Corporate and Financial Health
Nova maintains a strong financial position with approximately $17m in cash and liquid investments, including valuable positions in Snow Lake Lithium Ltd and Asra Minerals Limited.
Next Steps: US Listing and Updated Global MRE
Nova is fast-tracking its efforts for a US exchange listing and expects to release material PFS test work results, trade-off studies, and updated global MRE. The company is also awaiting updates on critical minerals grant and funding options from US departments.
CEO Christopher Gerteisen's Statement
Mr. Gerteisen highlights the significant period of progress for Nova, including high-grade intercepts from RPM North, which should positively impact the RPM resource update. He emphasizes the strategic importance of antimony in conjunction with gold mineralization.
RPM North Drilling
The drilling at RPM North in 2023 aimed to expand the existing resource shell, confirming the continuity of high-grade gold mineralization and identifying potential extensions to the existing resource.
Nova Minerals Limited's Continued Exploration Success
Nova Minerals Limited's exploration activities have yielded promising results, positioning the company for further discoveries and progress in its quest to develop its gold and antimony projects effectively.
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L
Lykeshares
133d
Official
Berkshire is hoarding so. much. cash.
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Lykeshares
133d
Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.
There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can
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rush, it’s a complex, slow-moving process that takes years of precision and experience.
Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
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L
Lykeshares
164d
Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
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L
Lykeshares
1y
Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
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L
Lykeshares
1y
Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
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Lykeshares
1y
Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
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L
Lykeshares
1y
Official
$ASN
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
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