Nova Minerals welcomes milestone on road to Estelle development

Nova Minerals has welcomed big progress towards development of an all-weather road that will provide cost savings for its flagship Estelle gold and critical minerals project.

Pic: Getty Images

• A permit application has been made for a 126km all-weather road that would significantly reduce costs at Nova Minerals’ Estelle project

• Alaska’s governor, Mike Dunleavy, is pushing for expedited federal approvals

• The 9.9Moz Estelle project stands to benefit, with the road reaching the Whiskey Bravo airstrip and camp

Special Report: Nova Minerals has welcomed a major milestone for a game-changing piece of infrastructure that will fast-track development at its 9.9Moz Estelle gold and critical minerals project.

The 126km all-weather West Susitna Access Road is designed to open up Alaska’s West Susitna region, enabling year-round access to lands currently difficult to reach except by air, winter road or water.

Importantly for Nova (ASX: NVA), the road will extend to the Whiskey Bravo airstrip and mineral exploration camp used by the company, as well as unlocking opportunities for local businesses, workers and families.

The Alaska Industrial Development and Export Authority (AIDEA) this week lodged its application with the US Army Corps of Engineers to permit the road and the permitting process will occur this financial year.

‘Priority project’

The road has the key backing of Alaska’s governor, Mike Dunleavy, who has been doubling down on moves to fast-track development approvals in the Frontier State. His efforts align closely with a suite of Presidential Executive Orders aimed at boosting American mineral production.

Governor Dunleavy has formally requested that the road be granted “priority project” status under Executive Order 14241, with additional support under another two executive orders.

His letter to federal authorities requests “all assistance” to streamline permitting and construction, stating the road is a “priority project” of critical importance to Alaska’s economy, America’s mineral independence and the nation’s energy strategy.

Nova CEO Christopher Gerteisen says the road would be transformational:

“The West Susitna Access Road represents a critical step forward for the Mat-Su region, Alaska, and beyond. This transformative infrastructure project is expected to not only unlock significant economic opportunities by facilitating resource development, but also enhance local access and create jobs in the process.

“We are proud to support AIDEA and the state's ongoing efforts to build a stronger, more sustainable future through infrastructure development.

“The state’s commitment to expanding access to Alaska’s vast public lands aligns well with our shared vision for long-term economic growth and national security.

“We are excited to see the potential positive impact this project could have on both the local community and the state's broader economic landscape.”

Estelle already hosts 9.9Moz of gold, with drilling continuing at pace to crack the 10Moz mark and firm up a resource in critical mineral antimony.

Building support

The application for the road closely follows the company strengthening ties with Alaskan lawmakers and diverse stakeholders during a board of directors visit to Estelle.

During the board visit last week the offices of US senators Lisa Murkowski and Dan Sullivan, and US representative for Alaska Nick Begich, all expressed ongoing backing for Nova’s efforts to fast-track Estelle’s development.

Nova also received a strong show of local support during an event attended by the Matanuska-Susitna Borough mayor, Edna DeVries, leaders from the Knik Tribe, state legislators and representatives from the Alaska Miners Association and Friends of West Susitna.

Pic: Nova Minerals

This article was developed in collaboration with Nova Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Nova Minerals welcomes milestone on road to Estelle development