Seven Samples Over 2 g/t Gold with Peak 360 g/t at Nova’s Wombat Prospect

• Seven rock samples at Wombat exceed 2 g/t gold, with a peak of 360 g/t Au
• High-grade gallium up to 74.5 ppm identified, a critical mineral for electronics
• Stoney prospect shows multi-element anomalies including gold, silver, copper, and antimony
• 2024 exploration program collected extensive soil and rock samples across Estelle
• Plans underway for drill testing to further evaluate vein-hosted mineralization

Exceptional Gold Grades at Wombat

Nova Minerals Limited has unveiled further compelling evidence of high-grade gold mineralization at its Wombat prospect, part of the expansive Estelle Gold and Critical Minerals Project in Alaska's prolific Tintina Gold Belt. The 2024 surface sampling program yielded seven rock samples exceeding 2 grams per tonne (g/t) gold, highlighted by an extraordinary peak assay of 360 g/t Au. This result ranks as the second highest gold grade recorded at Estelle to date, underscoring the prospect's potential as a significant gold source.

The Wombat veins, characterized by thick quartz-arsenopyrite structures up to 4 meters wide, extend over a strike length of approximately 1 kilometer. These findings build on 2023 results, which included a corrected sample grading 298 g/t Au, further confirming the continuity and robustness of the mineralized system.

Critical Minerals: Gallium Discovery

Beyond gold, the Wombat prospect has revealed notable concentrations of gallium, a critical mineral increasingly vital for semiconductor and electronic applications. Ten samples from 2023 and 2024 returned gallium grades above 30 parts per million (ppm), with a standout value of 74.5 ppm. This discovery is particularly timely given recent export restrictions imposed by China, positioning Nova Minerals to potentially contribute to securing a domestic gallium supply chain for the United States.

Multi-Element Anomalies at Stoney

In parallel, exploration at the Stoney prospect has identified a broad zone exhibiting anomalous gold, silver, copper, and antimony mineralization. The Stoney Vein system, with a width of up to 10 meters and a vertical relief of 300 meters over a 1-kilometer strike, yielded samples with cumulative grades including 6.1 g/t gold, 124 ppm silver, 2.4% copper, and 340 ppm antimony. These polymetallic signatures suggest a complex mineralizing environment warranting further metallurgical and drilling investigations.

Comprehensive 2024 Exploration Effort

Nova’s 2024 field campaign was extensive, collecting over 500 soil samples, 225 rock samples, and approximately five tons of bulk material across the Estelle claim block. This systematic approach has not only expanded known mineralized zones but also refined target areas for upcoming drill programs. Notably, other prospects such as Muddy Creek and Stibium have demonstrated high-grade gold and antimony mineralization, reinforcing Estelle’s status as a multi-commodity exploration hub.

Head of Exploration Hans Hoffman emphasized the early-stage nature of Wombat and Stoney, noting the consistency of vein-hosted mineralization as a strong rationale for imminent drill testing. The company is also processing final assay results from the RPM area, which will further inform the project's development trajectory.

Strategic Implications and Next Steps

The combined discovery of exceptional gold grades alongside critical minerals like gallium positions Nova Minerals at the intersection of traditional precious metals and emerging strategic commodities. The Estelle Project’s location within the Tintina Gold Belt, a region known for world-class deposits, adds geological credibility to these findings.

With drilling plans on the horizon, the market will be watching closely for confirmation of these surface anomalies at depth. The integration of multi-element data also opens avenues for diversified resource development, potentially enhancing project economics and resilience against commodity price fluctuations.

Bottom Line?

Nova Minerals’ high-grade gold and critical mineral discoveries at Estelle set the stage for a pivotal drilling campaign that could redefine the project’s value.

Questions in the middle?

• Will upcoming drilling confirm the continuity and scale of the high-grade gold veins at Wombat?
• How might the gallium discoveries influence Nova’s strategic positioning amid global supply chain shifts?
• What metallurgical challenges and opportunities do the polymetallic Stoney vein samples present?