Nova powers forward at Estelle with strong backing

Nova Minerals has strengthened ties with key Alaskan lawmakers and other stakeholders during a board visit to its 9.9Moz Estelle gold and critical minerals project.

Pic: Getty Images

• The Nova Board of Directors has met with Alaskan lawmakers, tribal representatives and advocacy groups, who all offered strong support for the company’s Estelle gold and critical minerals project.

• Estelle’s potential aligns with Executive Order 14153 which directs immediate measures to increase American mineral production.

• Nova has placed itself on a trajectory mirroring that of MP Materials and Perpetua Resources, both of which have secured major US Department of Defense grants to fast-track the production of critical minerals.

Special Report: Nova Minerals has strengthened ties with key Alaskan lawmakers and stakeholders in the past week during a board of directors visit to its Estelle gold and critical minerals project.

The company has been drilling around the clock during the Alaskan summer to push Estelle’s mineral resource estimate past 9.9Moz and define a resource of critical mineral antimony.

Also during the almost 24 hour sunlight the Nova (ASX:NVA) board has been warmly received by federal representatives, state and local leaders, tribal organisations and advocacy groups who expressed unified support for advancing Estelle.

VIP visits

During their visit board members met representatives of Alaska’s Congressional Delegation, including the offices of US Senators Lisa Murkowski and Dan Sullivan, and US representative for Alaska Nick Begich, who expressed ongoing backing for Nova’s efforts to fast-track Estelle’s development.

Nova additionally received a strong show of local support during an event at Port MacKenzie attended by more than 25 Alaskan leaders including Borough Mayor Edna DeVries, leaders from the Knik Tribe, state legislators and representatives from the Alaska Miners Association and Friends of West Susitna.

The Alaska Industrial Development and Export Authority also provided project updates on the West Susitna Access Road during the board visit. This new road will provide critical infrastructure that will support Estelle and regional development.

Nova is increasingly aligned with US Executive Order 14153, ‘Unleashing Alaska’s Extraordinary Resource Potential’, which outlines actions to bolster American mineral production.

This positions Nova to follow the path of MP Materials (market cap ~A$16 billion) and Perpetua Resources (market cap ~A$2.4 billion), which have both secured significant US Department of Defense (DoD) grants for critical mineral supply chain initiatives.

Following a positive technical site assessment by the DoD’s critical materials team, Nova is continuing engagement with the DoD as Estelle moves toward becoming a near-term producer of gold and antimony.

Nova CEO Chris Gerteisen said: “We’re starting to see the kind of momentum that propelled companies like MP Materials and Perpetua Resources to secure major federal support.

“With our recent positive assessment from the (US) Department of Defense - and with gold and antimony prices near record highs - we’re optimistic that Nova is well-positioned to be a key part of building a secure, domestic supply chain.

“We remain deeply grateful for the support we’ve received at every level and are committed to advancing this project responsibly and swiftly. Our team is humbled by the opportunity and focused on delivering long-term value for Alaska, the United States and our allies.”

Critical hub

During the Port MacKenzie event, Nova presented its long-term vision for a potential processing hub in Alaska and highlighted the significance of recent discoveries.

Congressional representative Nick Begich expressed strong support, which was echoed by other leaders who met the board:

“Partnerships like these are crucial for responsible resource development in Alaska and advancing plans for a Nova Minerals processing hub at Port MacKenzie will deliver important economic benefits for Alaska and support our long-term workforce development for Alaska’s hardworking families,” Begich said.

On road to growth

Out in the field at Estelle exploration is continuing at the Stibium antimony-gold prospect, the high-grade RPM North deposit. Drilling in the Korbel starter pit area has already been completed, with samples to be sent to the laboratory for analysis shortly.

Also underway are other exploration mapping and sampling, environmental baseline studies, access road projects and various technical studies, all of which will go towards completing the pre-feasibility study.

Nova’s board has since departed Alaska for further stakeholder engagement in New York City and Florida.

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.