Nova Minerals Reports Record 364 g/t Au Intercept and Secures US$43.4m Antimony Funding
Nova Minerals reported a project-record 0.5m intercept at 364 g/t Au in March-quarter drilling at RPM Valley and broad hits including 65m at 3.6 g/t Au, bolstering resource growth at the Estelle Project. It secured US$43.4m non-dilutive U.S. DoW funding for antimony development and holds A$89.4m cash equivalents debt-free.
1. Q1 Drilling Highlights
Nova’s March-quarter drilling at RPM Valley delivered multiple broad zones of gold mineralisation, including 65m at 3.6 g/t Au, 155m at 0.9 g/t Au and a project-record high-grade intercept of 0.5m at 364 g/t Au. Infill and step-out holes confirmed lateral and vertical continuity, supporting expansion of bulk-tonnage and higher-grade resource zones.
2. Antimony Funding and Logistics
The company secured a US$43.4 million non-dilutive award from the U.S. Department of War to establish a domestic antimony supply chain. Winter road construction and equipment mobilisation to the Estelle site are complete, positioning Nova to commence near-term antimony production evaluations.
3. Financial Position and Redomiciliation
Nova ended the quarter debt-free with A$89.4 million in cash, DoW funding, liquid investments and in-the-money warrants. Management is advancing a planned redomiciliation to the United States to align with its U.S. shareholder base and enhance access to U.S. capital markets.