Novo Resources Corp. reports on an Australian mineral exploration portfolio focused on gold and selected battery-metal opportunities. Recurring updates cover exploration results, drilling programs, target generation, and project reviews across the Pilbara and Onslow districts of Western Australia, the Egina Gold Camp, the Becher and Teichman areas, the Wyloo gold-silver-antimony project, Balla Balla, Toolunga, and the Belltopper Gold Project in Victoria.
Company news also includes portfolio additions such as the Tibooburra Gold Project in northwestern New South Wales, joint venture activity including a Pilbara lithium joint venture with SQM, capital and presentation updates, and exploration leadership changes. The coverage reflects Novo's role as a multi-project exploration issuer listed in Canada, Australia, and the U.S. OTC market.
Novo Resources Corp. (OTCQX: NSRPF) announced a second A$5 million payment from Calidus Resources Ltd. for the Blue Spec project, increasing Calidus's stake to 25%. To finalize a 75% interest acquisition, Calidus must pay A$10.3 million and issue A$1.5 million in shares by March 31, 2021, pending shareholder approval. Additionally, Novo sold its 30% interest in the Warrawoona joint venture to Calidus for a 1% gold royalty. Novo is focused on advancing its Beatons Creek gold project and exploring its extensive land package in Western Australia.
On October 15, 2020, Novo Resources Corp. (OTCQX: NSRPF) announced progress updates on its Beatons Creek gold project and Millennium infrastructure refurbishment. Key highlights include a contract with GR Engineering Services for AUD $8.3 million to refurbish processing infrastructure. Power restoration and camp upgrades are underway, enhancing operational readiness. Initial site establishment and grade control drilling at Beatons Creek have commenced, with contracts awarded to experienced companies. New personnel appointments aim to strengthen operations. CEO Rob Humphryson expressed optimism about advancing conglomerate gold production in Western Australia.
Novo Resources Corp. (OTCQX: NSRPF) reports promising developments at the Beatons Creek gold project. Recent mapping and surface rock sampling indicate potential extensions of the M1 and M2 conglomerate gold lodes, extending the surface strike length by 1.6 km. Spot rock chip samples returned grades of 2.7 g/t Au, 3.5 g/t Au, and 2.1 g/t Au, hinting at significant mineralization. The company's future plans include trenching and RC drilling to confirm these findings and expand the resource base further.