Nova Minerals Advances Geotechnical Drilling After AU$25 Million Funding Approval

MT Newswires Live06:49

Nova Minerals (ASX:NVA) commenced geotechnical drilling following Alaska Industrial Development and Export Authority's approval of up to AU$25 million in additional funding for the West Susitna Access Road, according to a late Tuesday statement by the company.

The 78.5-mile, all-season road will enhance access to the company's Estelle Gold and Critical Minerals Project and facilitate its planned antimony refinery at Port MacKenzie, the company said.

The company said the Alaska Department of Transportation and Public Facilities' 2026 geotechnical and environmental investigations are progressing, with work advancing at material sites and bridge crossings.

It added that the project marks a key step toward establishing an integrated, Alaska-based antimony supply chain, with first-phase antimony trisulfide production funded by a AU$43.4 million award from the US Department of War under the Defense Production Act Title III.

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