Core Insights - Manganese X Energy Corp. reported highly positive Phase 2 ore-sorting results, achieving an 80% increase in mill feed grade in its Battery Hill pilot program [2][5][7] - The ore-sorting process is expected to significantly reduce capital and operating costs, enhancing project economics [5][8] Ore-Sorting Results - The ore-sorting program processed over 400kg of rock from the Battery Hill manganese deposit, confirming the material's suitability for ore sorting [4][6] - The increase in mill feed grade indicates that the processed material contains 80% more manganese per tonne than the original mined material [3][7] Economic Implications - The ore-sorting technology is projected to positively impact capital expenditure (CAPEX), operating costs (OPEX), and production costs per tonne, leading to improved project economics [5][7] - Higher-grade feed allows for smaller facilities to produce more metal, maximizing resource utilization and potentially improving project NPV and IRR [8] Future Plans - The study was conducted in preparation for the upcoming Pre-Feasibility Study (PFS) scheduled to commence in Q3 2025, with ongoing discussions about integrating ore sorting into the PFS program [6][10]

Core Viewpoint - Nova Minerals Limited has announced successful results from the Styx antimony ore sorting test work program, indicating the potential for producing a high-grade, saleable antimony ore concentrate on-site for further processing [1][3]. Summary by Relevant Sections Test Work Results - The bulk ore sorting test utilized 500kg of Styx prospect ore, demonstrating that the Estelle antimony ore is suitable for upgrading through sensor-based ore sorting with an XRT algorithm [5][6]. - The test results showed a 132% upgrade, producing a concentrate with 49.1% antimony trisulfide from a single pass, recovering 60.3% of the contained antimony in just 26.1% of the mass [3][9]. - Gold was also recovered, with a 57.4% increase in grade from 1.90 g/t Au to 2.99 g/t Au, indicating potential synergies between antimony and gold processing circuits [7][9]. Strategic Importance - In the context of geopolitical pressures on Western defense supply chains, the Estelle Project is positioned as a strategic asset, with high-grade antimony and gold prospects confirmed [4][18]. - Nova is actively engaging with the U.S. government through the Defense Industrial Base Consortium and Department of Defense grant applications to address the critical antimony supply gap [4][19]. Future Plans - The company plans to implement ore sorting technology on-site, which will allow for the production of a premium-grade antimony concentrate suitable for direct shipping ore (DSO), potentially generating early cash flow [13][14]. - Ongoing beneficiation and purification test work aims to refine the downstream processing flowsheet, with additional ore sorting tests on the Stibium sample nearing completion [7][19]. Project Overview - The Estelle Project encompasses 514 km of mining claims in Alaska, featuring multiple advanced gold and antimony prospects, including two defined multi-million ounce resources [21]. - The project is located in the Tintina Gold Belt, known for its significant gold and antimony deposits, and historical production [21].