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 reported significant Q3 2024 exploration results from drilling programs in Western Australia and Victoria. At Nunyerry North, drilling extended high-grade Main Lode to 500m strike with notable intercepts including 13m at 2.68 g/t Au. At the Egina Gold Project, partner De Grey Mining completed 34,180m of AC drilling and 9,129m of RC drilling, satisfying its A$7M minimum expenditure commitment. The Belltopper Gold Project delivered multiple new gold intercepts, including 6.0m @ 4.37 g/t Au. The company maintains a strong financial position with A$6.7M cash and A$44.6M in investments as of September 2024.
Novo Resources Corp. (ASX: NVO) (TSX: NVO) (OTCQX: NSRPF) has released its 2024 Sustainability Report, highlighting the company's progress over the past year. The report, available on Novo's website, demonstrates the company's continued commitment to sustainability as it executes its exploration strategy.
Key points from the report include:
- Novo's transition from an operator to a gold explorer
- Divestment of the Nullagine Gold Project
- Completion of multiple joint ventures
- Listing on the ASX
Executive Co-Chairman and Acting CEO Mike Spreadborough emphasized the company's focus on aligning activities with its values and commitment to sustainability. Novo plans to continue listening to stakeholders, supporting its people and communities, and minimizing risks while maximizing opportunities in the coming year.
De Grey Mining has satisfied its initial A$7 million minimum expenditure commitment on exploration at the Egina Gold Project, a joint venture with Novo Resources Corp. The project, located near De Grey's 12.7 Moz Hemi Gold Project, is considered highly prospective for significant intrusion-related gold deposits. De Grey has completed 34,180 m of AC drilling and 9,129 m of RC drilling across four main prospects, as well as a drone magnetic survey.
Anomalous gold results include 6m @ 1.2g/t Au at Heckmair, 4m @ 2.1g/t Au at Irvine, and 8m @ 4.7g/t Au at Lowe. De Grey now has the right to earn a 50% joint venture interest by spending an additional A$18 million through June 30, 2027. The combined Egina Gold Project and De Grey's tenure forms a strategically significant land position covering approximately 2,500 sq km in the Mallina Basin.
Novo Resources Corp. (OTCQX: NSRPF) has released a video update on its Belltopper Gold Project, located 120 km northwest of Melbourne. The project is near Agnico Eagle's Fosterville Gold Mine and has historical gold production exceeding 60 million ounces. Novo's recent six-hole, 2,529 m diamond drill program in Q2 2024 yielded new significant gold intercepts, including two new gold reefs with substantial strike potential. The Belltopper Announcement defined an Exploration Target of approximately 1.5Mt - 2.1Mt at 6.6 g/t Au to 8.4 g/t Au, containing 320 koz to 570 koz of gold. The company aims to grow this Exploration Target and systematically test high-priority targets, including Fosterville-style, Bendigo-style, and intrusive-igneous targets. The information is compliant with the JORC Code (2012), but further exploration is required to estimate a Mineral Resource.
Novo Resources Corp. has defined an Exploration Target for its Belltopper Gold Project in Victoria, Australia. The target, based on seven high-priority reefs, estimates 1.5-2.1 Mt at 6.6-8.4 g/t Au for 320-570 koz Au. Belltopper is located in the Bendigo Tectonic Zone, approximately 50 km SSW of the Fosterville Gold Mine.
The project shows diverse mineralization styles, including potential for Intrusion Hosted/Intrusion Related and Fosterville-style high-grade gold. Recent drilling programs have yielded significant gold intercepts across various structural targets, including the discovery of two new gold reefs with strike potential.
The Exploration Target is based on geological modeling, historical data, and recent drilling results. It focuses on narrow, discrete, continuous structures that can be traced up to 1.5 km in strike. The company aims to expand the target while systematically testing high-priority, drill-ready conceptual targets.
Novo Resources Corp. (ASX: NVO, TSX: NVO, OTCQX: NSRPF) has completed a review of antimony-gold potential across its Pilbara ground holding. Two prospects show high potential: the historic Sherlock Crossing antimony mine and the Southeast Wyloo antimony-gold stream sediment anomaly. Highlights include:
1. Sherlock Crossing: Peak results of 1.71 g/t Au and 592 ppm Sb from 2022 reconnaissance work.
2. Southeast Wyloo: Peak results of 387 g/t Ag, 5.0% Pb, 1.6% Zn, 2.4% Cu, 0.38% Sb, and 0.52 g/t Au from 2023 rock chip sampling.
These prospects are in early exploration stages and represent exciting targets for follow-up work. The review comes amid increased importance of antimony due to China's export restrictions and record high prices.
Novo Resources Corp. (ASX: NVO, TSX: NVO, OTCQX: NSRPF) announces its participation in the Resources Rising Stars Gold Coast Investor Conference on September 3-4, 2024. Executive Co-Chairman and Acting CEO Mike Spreadborough will present on Tuesday, September 3rd at 4pm AEST, providing updates on the company's exploration programs in the Pilbara and Victoria gold portfolio.
The conference will be live-streamed, allowing both in-person and virtual attendance. Registration is free but required. Novo's key focus includes the Egina Gold Camp, where De Grey Mining is farming-in to form a JV at the Becher Project, and advancing gold exploration at Nunyerry North. The company also has lithium joint ventures with Liatam and SQM in the Pilbara, offering shareholder exposure to battery metals.
Novo Resources Corp. has announced significant progress in its exploration activities at the Nunyerry North and Egina Gold Camp projects in Pilbara, Australia.
Recent RC drilling at Nunyerry North extended the high-grade Main Lode to 500m strike/plunge, with standout intercepts including 13m at 2.68 g/t Au and 11m at 2.20 g/t Au. Exploration at the Egina Joint Venture with De Grey Mining has been fruitful, focusing on high-priority targets along the Tabba Tabba Shear Corridor. Novo's agreement with Kariyarra Aboriginal allows exploration at Balla Balla, where aircore drilling will focus on key gold targets in Q4 2024.
Key highlights include:
- 13m at 2.68 g/t Au from 66m (NC046)
- 11m at 2.20 g/t Au from 84m (NC046)
- 17m at 1.85 g/t Au from 25m (NC063)
- 9m at 2.52 g/t Au from 87m (NC061)
- De Grey Mining's 36,000m drilling at Becher Project, continuing through 2024.
Novo remains focused on advancing its gold exploration and development strategies in the region.
Novo Resources Corp. (ASX: NVO, TSX: NVO, OTCQX: NSRPF) has signed a Determination Wide Aboriginal Heritage Protection Agreement with the Nyamal Aboriginal , covering 1,500 sq km in the East Pilbara. This agreement allows Novo to begin exploration activities at the Bamboo and Miralga Projects. Key developments include:
1. Completion of a heritage site avoidance survey at Bamboo for drill testing.
2. Surface mapping and sampling at Miralga, focusing on porphyry-style and intrusion-related targets.
3. Rock chip samples from Gully Washer (Miralga Project) yielded peak results of 14.8 g/t Au, 10,083 g/t Ag, 3.8% Cu, 28.3% Pb, and 3.6% Zn.
4. Identification of potential gold mineralization associated with Bridget Suite intrusions at Bamboo-Strattons.
5. Plans for detailed mapping, soil sampling, and potential drill testing at both projects.
Novo ramped up exploration in its Pilbara targets during Q2 2024, with drilling at Nunyerry North and Becher Project. Over 3,200 m of RC drilling was completed at Nunyerry North, with assays expected in mid-August. De Grey Mining commenced 28,000 m of AC and RC drilling at Becher, following 10,500 m completed in Q4 2023.
In Victoria, significant intercepts from the Belltopper Gold Project include 5.6 m @ 3.14 g/t Au and 4.25 m @ 5.88 g/t Au. Novo maintains a strong financial position with A$11.7 million in cash and A$46.2 million in investments as of June 30, 2024.
Novo plans further drilling in the Karratha district and Balla Balla in late Q3 2024, and a series of RC drill programs to advance high-priority targets. Novo’s joint ventures in battery metals are also progressing, with significant lithium discoveries and planned RC drilling in H2 2024.