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 (ASX: NVO, TSX: NVO, OTCQX: NSRPF) has announced a change in its shareholder registry services provider effective March 31, 2025. The company is transitioning from MUFG Pension & Market Services to Automic Pty in Sydney, Australia.
Shareholders will have access to Automic's online investor portal, which offers features including:
- Secure management of holdings
- Balance viewing capabilities
- Transaction history access
- Online shareholder detail updates
Shareholders can register for the new portal at investor.automic.com.au through a two-step process. For inquiries, shareholders can contact Automic via email or phone, with dedicated lines for both Australian and international investors.
Novo Resources Corp. (ASX: NVO, TSX: NVO, OTCQB: NSRPF) announces the commencement of a maiden aircore drill program at the Balla Balla Gold Project. The program will test target zones of structural complexity in the Sholl Shear Zone under shallow cover of approximately 25m depth.
The project, granted in November 2024 following an agreement with the Kariyarra Aboriginal , spans several prospects over a 10km trend. Key target areas include:
- Ramquarry: Testing structural complexity and fault splays
- Beaufort: Targeting rotated block of Sherlock Intrusion
- Babbage: Focusing on folded magnetic units
- Cockerell: Examining structural complexity and cross-cutting structures
The drilling program, scheduled for late March 2025, features lines at 640m spacing with 50m hole centers, oriented at 140 degrees to test NE-SW striking target structures. The Sholl Shear Zone, extending over 200km, is recognized as a kilometer-wide crustal-scale structure significant for potential gold mineralization.
Novo Resources Corp (NSRPF) has completed geological and geochemical sampling campaigns at the Tibooburra and John Bull Gold Projects in NSW, aimed at guiding Q2 2025 drill programs. At John Bull, 340 soil and 63 rock chip samples were collected over a 1.3 km trend, while at Tibooburra, 962 samples were gathered across a 2.8 km trend at Clone.
The company continues assessment of the Toolunga Project in WA's Onslow District, with 890 sq km of exploration applications at Cane River Project progressing toward grant in Q2 2025. However, Tropical Cyclone Zelia has impacted Pilbara Projects, potentially delaying drill programs in the Karratha District, Balla Balla Gold Project, and Egina JV area.
Results from the NSW sampling campaigns are expected in mid-March 2025, with planned RC drilling of approximately 2,000m at each project in Q2 2025.
Novo Resources Corp. reported key developments for Q4 2024, including three new high-prospectivity farm-in/JV deals strengthening its Australian exploration portfolio. The company secured approximately 1,520 sq km at the Toolunga Project and executed binding terms for the John Bull and Tibooburra Gold Projects.
Notable exploration results include high grades of up to 4.7% Sb and 146.7 g/t Au from rock chip sampling at Sherlock Crossing, and peak values of 1.2 g/t Au and 4.4% Cu at Miralga. De Grey Mining satisfied its A$7 million minimum expenditure commitment and committed to an additional A$18 million spend by June 2027.
The company maintains a strong financial position with A$12.1 million in cash and A$43.8 million in investments as of December 31, 2024. Novo also completed the sale of its remaining 20% Quartz Hill JV interest for A$850,000 and 38% of its San Cristobal Mining shareholding for A$11.5 million.
Novo Resources Corp. (TSX: NVO) (ASX: NVO) (OTCQB: NSRPF) has announced its transition from the OTCQX to the OTCQB market in the United States, effective immediately. The company will trade under the ticker symbol NSRPF on the OTCQB, a premium tier of OTC Markets Group offering increased visibility and higher compliance standards.
The company maintains its primary listings on the TSX and ASX under the symbol NVO. Executive Co-Chairman Michael Spreadborough stated this transition aligns better with their current growth stage and provides a more cost-effective platform. Novo Resources is an Australian-based gold explorer with approximately 5,500 square kilometres of land in Western Australia's Pilbara region and the 22 square kilometre Belltopper project in Victoria.
Key projects include the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project through A$25 million exploration expenditure within 4 years for a 50% interest.
Novo Resources Corp. (NSRPF) has executed binding term sheets for two high-grade gold projects in New South Wales, Australia: the John Bull Gold Project (80% interest option) and Tibooburra Gold Project (70% interest option). The John Bull project features significant historical intersections, including 160m @ 1.2 g/t Au, and a 900m long gold anomaly. The Tibooburra project covers 630 sq km with over 200 historic workings and has shown impressive drill results, including intersections of 30m at 4.03 g/t Au and 8m at 40.5 g/t Au.
Both projects align with Novo's strategy of identifying projects with >1 Moz Au potential. The company plans to conduct >2,000m drilling programs at both sites in H1 2025. Following the recent sale of San Cristobal Mining investment for A$11.5 million, Novo is well-funded for its 2025 exploration initiatives.
Novo Resources Corp has secured a strategic land position of approximately 1,520 sq km in the Onslow District of Western Australia through the Toolunga Project. The acquisition includes a binding term sheet for a 70% interest option in OD4 Rocklea's Cane River Project and direct pegging of 6 new exploration licenses.
The project area is underexplored and shows potential for precious and base metal discovery, with geochemical signatures suggesting Intrusion Related Gold, porphyry, and Iron Oxide Copper Gold deposit styles. Historical mining centers have reported significant findings, including assay results up to 3.1% Cu, 33% Pb, and 125ppm Ag at the Range No. 2 Prospect.
Located ~80 km northwest of Black Cat Syndicate's Paulsens Gold Mine, the project aligns with Novo's exploration strategy targeting >1 Moz Au potential. The company plans to conduct regional exploration campaigns upon tenure grant.
Novo Resources Corp provided an update on its exploration activities across its Pilbara, Western Australia projects. Key developments include:
- Grant of tenure at Balla Balla with planned aircore drilling in H1 2025
- High-grade samples from Sherlock Crossing mine with up to 4.7% Sb and 146.7 g/t Au
- Rock chip sampling at Miralga yielded 1.2 g/t Au and 4.4% Cu
- Discovery of a 5 km-long gold anomaly along Tabba Tabba Shear Corridor with samples up to 3.8 g/t Au
The company is well-funded following the A$11.5M sale of 38% stake in San Cristobal Mining. De Grey Mining has committed to spend A$18M by June 2027 to earn 50% in the Egina JV project.
Novo Resources Corp. (NSRPF) has completed the sale of 38% of its shareholding in privately-owned San Cristobal Mining for A$11.5 million (C$10.5 million). The sale price exceeds the current internal fair value per share on Novo's balance sheet as of September 30, 2024. Following the transaction, Novo's remaining stake in San Cristobal is estimated at A$19 million (C$17 million).
The proceeds will fund exploration programs in Western Australia and Victoria, and A$3 million will be used to repay the first portion of deferred consideration owed to IMC Holdings. Post-sale, Novo's cash balance stands at A$16.7 million (C$15.3 million) as of December 04, 2024. The transaction will result in capital gains tax of A$1.4 million payable in Q1 2025.
Novo Resources Corp has sold its remaining 20% stake in the Quartz Hill Joint Venture and its 100% interest in Gold and Silver rights to Austroid Australia Pty for A$850,000 (CAD $774,000) in cash. The transaction aligns with Novo's strategy to focus on gold exploration in the Pilbara, including the Egina JV. Despite this sale, Novo shareholders maintain exposure to battery metals through the Harding Battery Metals Joint Venture with SQM Australia, where Novo retains a 25% interest after receiving A$10 million for a 75% stake sale in December 2023.