Adelong Gold (ASX:ADG) secures Nova Minerals backing to accelerate Victorian exploration

In the small-cap resources space, few catalysts resonate louder than the backing of a well-capitalised peer.

For Adelong Gold (ASX:ADG), the arrival of Nova Minerals (ASX:NVA) as a cornerstone investor provides both validation and the means to fast-track exploration across its Victorian and New South Wales gold–antimony assets.

Highlights

• $1.25 million placement secured, led by Nova Minerals ($1m) and Barclay Wells clients ($250k).

• Nova to receive first right of refusal on antimony offtake and may lift its stake to 19.99% subject to approvals.

• Planned drilling at Lauriston in Q4 2025, with Apollo assays pending.

• Placement priced at $0.005, aligned with market levels.

The $1.25 million raise positions Adelong to meet its joint venture obligations at the Adelong Gold project in NSW while conserving its balance sheet for exploration at Apollo and Lauriston in Victoria.

Both assets sit in proven high-grade corridors, with Lauriston lying adjacent to the world-class Fosterville mine and Apollo drawing geological comparisons to Southern Cross Gold’s Sunday Creek discovery.

Nova’s involvement extends beyond capital, the company has secured first rights over any future antimony offtake and an option to introduce North American antimony assets, underscoring the strategic tilt towards critical minerals.

Nova also gains board representation and has agreed to escrow its new equity for 12 months, a move likely to reassure Adelong Gold shareholders.

Historic intercepts at Apollo include 28 metres at 10.2 grams per tonne gold and nearly 6 metres at 18.4 grams per tonne, with mineralisation open at depth and along strike.

Lauriston, meanwhile, has delivered standout samples such as 8 metres at 104 g/t gold at the Comet prospect, providing fertile ground for the imminent maiden drill program.

“This investment is a significant milestone for Adelong and comes at a pivotal time as we accelerate exploration at both Apollo and Lauriston,” said managing director Ian Holland.

The placement terms, while modest in scale, highlight the appetite for well-located Victorian plays with both gold and antimony credentials.

The board’s ability to attract Nova itself advancing a multi-million-ounce resource base in Alaska, suggests a broader recognition of Adelong’s portfolio potential.

Looking ahead, the focus will be on assay results from Apollo and the execution of the Lauriston drill program in Q4.

Success on either front could place Adelong among the next wave of high-grade Victorian discoveries, with the added dimension of antimony exposure aligning with global critical minerals policy.

For now, the strategic support of Nova Minerals ensures Adelong is not simply a junior explorer scratching at old ground, but a company with the backing to test serious targets in tier-one jurisdictions