Up 116% in a year, why is this ASX All Ords gold stock leaping higher in Thursday’s sinking market?

The All Ordinaries Index (ASX: XAO) is down 0.7% today, but don’t blame this outperforming ASX All Ords gold stock.

The outshining stock in question is Nova Minerals Ltd (ASX: NVA).

Nova Minerals shares closed yesterday trading for 67.5 cents. In late morning trade on Thursday, shares are changing hands for 69 cents apiece, up 2.2%.

This sees the Nova Minerals share price up an impressive 115.6% since this time last year, smashing the 3% 12-month gains delivered by the benchmark index.

Here’s what’s catching investor interest today.

ASX All Ords gold stock jumps on big drilling plans

Nova Minerals shares are jumping today after the miner announced its extensive 2026 field season exploration plans.

The diversified ASX All Ords gold stock is preparing to kick off a drilling program of up to 10,000 metres, planning to deploy up to three diamond core rigs across its flagship Estelle Gold and Critical Minerals Project, located in the US state of Alaska.

The miner said the drilling program will be complemented by extensive regional mapping and surface exploration.

Nova Minerals aims to advance the Estelle Project to Pre-Feasibility Study (PFS) stage, noting that pilot-scale antimony production is on track for first production in late 2026 to early 2027.

If you’re unfamiliar with antimony, you’ll often find the silvery metalloid used in batteries and to strengthen other metals, including lead. And, importantly for miners like Nova Minerals, the United States currently has no secure domestic antimony supply.

Indeed, management noted that Nova’s 2026 exploration programs are fully funded, with over $85 million available through cash and US$43.4 million through US Department of War (DoW) award funding.

The ASX All Ords gold stock plans to make the most of the near 24-hours of daylight during the Alaskan summer over a minimum three-month period, noting that its operations are set for continuous drilling seven days a week.

Nova Minerals expects to commence in the coming weeks.

What did Nova Minerals management say?

Commenting on the upcoming drill campaign that’s helping boost the ASX All Ords gold stock today, Nova Minerals CEO Christopher Gerteisen said, “We are excited to commence the 2026 field season, which is expected to represent a major advancement for the Estelle Gold and Critical Minerals Project.”

Gerteisen added:

The program includes one of the largest drill campaigns undertaken at Estelle to date, targeting both gold resource expansion and antimony development opportunities…

I can report we have already produced antimony metal and military-grade antimony trisulfide at the lab scale from Estelle stibnite ores which is now being assayed and certified.

The post Up 116% in a year, why is this ASX All Ords gold stock leaping higher in Thursday’s sinking market? appeared first on The Motley Fool Australia.

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Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.