Nova Minerals Limited (ASX:NVA) Discovers High-Grade Gold and Gallium at Wombat
High-Grade Gold Discovery
Nova Minerals Limited (ASX:NVA) announced significant high-grade gold discoveries at its Wombat prospect. The recent 2024 rock sampling yielded seven samples exceeding 2 g/t Au, with a notable high of 360 g/t Au. This marks the second highest gold sample found at the Estelle Gold and Critical Minerals Project to date.
Gallium Findings
In addition to gold, high-grade gallium was detected, with concentrations reaching up to 74.5 ppm. This discovery is particularly timely, as gallium is a critical mineral sought by the U.S. Department of Defense, particularly following recent export bans from China.
Sampling and Results
The sampling program involved 511 soil samples and 225 rock samples across the Estelle property. Alongside the Wombat discoveries, notable findings included strong antimony results at the Styx and Stibium prospects. The Stibium area alone reported antimony grades up to 56.7% and gold grades reaching 141 g/t.
Next Steps and Exploration Plans
Mr. Hans Hoffman, Head of Exploration, indicated that the consistent mineralization at both Wombat and Stoney veins will prompt further drilling in the future as the company aims to realise the full potential of the Estelle project.
This announcement reaffirms Nova Minerals’ commitment to enhancing its exploration efforts and advancing its project in the Alaska region.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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