Nova rides gold and antimony waves with stake in Adelong Gold

• Nova Minerals’ strategic $1m investment in Adelong Gold significantly boosts its exposure to near-term gold and antimony production as prices of both metals soar
• Adelong’s high-grade Australian and Brazilian gold-antimony projects include drilling success near the world-class Fosterville Mine and first output at Challenger
• Nova is making rapid progress on the ground at Estelle while building high-level support for the project

Special Report: Nova Minerals has taken another major step towards becoming a significant gold and antimony player by taking a stake in Adelong Gold.

While Nova’s (ASX:NVA) Estelle Gold and Critical Minerals Project in Alaska remains its primary focus, the company has snapped up a 7.8 per cent holding in Adelong (ASX:ADG), further boosting its near-term production potential.

The $1 million deal was sealed as gold prices continue to surge, surpassing US$3,640 an ounce and sparking even more enthusiasm across the miners in the sector.

Nova CEO Christopher Gerteisen said the move was part of its strategy to partner with undervalued, high-growth stage resource companies in proven mineralised districts.

Adelong has a diversified portfolio of gold-antimony projects in Australia and Brazil, complementing Nova’s flagship Estelle project in Alaska.

As part of the agreement Nova gets 200 million shares and 200 million listed options in ADX.

And as antimony prices soar, Nova has secured a first right of refusal on future offtake agreements of the critical mineral from Adelong. Nova will also get another 50 million options after successful introduction to Adelong of a qualifying antimony project in North America.

Gerteisen said: “Adelong represents a unique investment opportunity, combining near-term gold production potential with significant high-grade exploration upside and future antimony prospects.

“With drilling now underway at the high-priority Apollo and Lauriston prospects – strategically located near Agnico Eagle’s world-class Fosterville Mine – Adelong is ideally positioned to potentially leverage strong gold market conditions and multiple exploration catalysts.

“Lauriston’s historical production of approximately 233,000 ounces at an average grade of 20.7g/t gold from shallow depths highlights the strength of the system, while recent drilling has delivered exceptional results, including 8m at 104 grams per tonne (g/t) of gold, with 2m at 413 g/t of gold from 95m.

“With drilling success already demonstrated, first gold recently produced at Challenger, and a strong balance sheet, we believe Adelong is poised for a transformational phase.

“Nova is excited to support this growth story with capital and strategic support, as we work together to potentially generate significant value for both companies’ shareholders.”

In the Alaskan pipeline

At its rapidly advancing Estelle project Nova is preparing to wrap up its busy 2025 drilling season with fresh core delivered to the lab for assaying and results due shortly.

These will feed into work being done on an updated mineral resource estimate (MRE) to expand Estelle’s current 9.9Moz gold resource.

Also under way to enhance the project’s economics is metallurgical testwork, which has so far put the Australian junior on track to potentially become the first fully integrated antimony producer in the US.

Meanwhile Nova is also continuing to make progress with US Department of Defense grant applications aimed at fast-tracking Estelle’s antimony resource development.

Building ties

And as Nova executive director and COO Louie Simens joins the Adelong Board of Directors, the NVA leadership team has been busy hosting high-level American and Australian visitors who have been showing their support for Estelle.

Those include Alaska Senator Lisa Murkowski, whose recent visit followed Alaskan Governor Mike Dunleavy and other US officials as well as Australian Consul General in the US Tanya Bennett.

Their interest in Estelle reflects Executive Orders signed in Washington this year to boost domestic critical minerals supply, unlock more of Alaska’s resource potential and cut reliance on imports, all of which position Nova as a potential key supplier of gold and antimony.

Gerteisen said: “We’re witnessing a convergence of policy, diplomacy and local support around Estelle.

“Recognised for its significant gold and antimony potential – and highlighted in the RFC Ambrian report as one of only two US projects with near-term antimony production capability – Estelle is emerging as a strategic asset.

“Growing interest from both the US Department of Defense and the Australian Government underscores momentum far beyond routine exploration.

“Notably, Nova has already accumulated surface stibnite stockpiles potentially capable of producing antimony trisulfide for US strategic purposes.

“While the material requires modest further concentration to meet military specifications, this positions Nova as a potential critical contributor to national defence supply chains.”

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.