Nova Minerals Secures $43.4M DPA Award

Alaska Range Resources (ARR), Nova Minerals’ U.S. subsidiary, has secured a $43.4 million award under the U.S. Defense Production Act Title III administered by the U.S. Department of Defense to produce antimony trisulfide at the Estelle gold and critical minerals project in Alaska. The funding is intended to fast‑track a fully integrated domestic antimony supply chain—extracting stibnite and refining military‑grade antimony trisulfide—to support munitions and advanced industrial and technology uses and reduce reliance on foreign suppliers, notably China. Estelle is a district‑scale project in the Tintina gold belt that Nova says hosts significant near‑surface gold deposits (about 10 million ounces JORC) and confirmed high‑grade stibnite/antimony mineralization, supporting a pivot toward dual gold and critical‑minerals production. ARR says the award will fund environmental studies, permitting, geological and metallurgical work, drilling, pilot refinery studies and construction of processing and refining facilities, leveraging partners including the University of Alaska Fairbanks and state agencies. The announcement sent NVA shares sharply higher in premarket trading, jumping roughly the mid‑20s percent as investors reacted to the strategic award.