Welcome to our dedicated page for Novo Resources news (Ticker: NSRPF), a resource for investors and traders seeking the latest updates and insights on Novo Resources stock.
Novo Resources Corp. (NSRPF) is a gold exploration company actively pursuing high-potential targets across Western Australia and Victoria. This news hub provides investors with comprehensive updates on drilling results, joint venture developments, and strategic initiatives in Novo's exploration portfolio.
Access timely reports covering critical activities including geochemical sampling at Belltopper, partnership updates with De Grey Mining, and progress at the Egina Gold Camp. Our curated collection ensures transparent tracking of exploration milestones without production bias.
Key updates include resource delineation efforts, technical report summaries, and indigenous partnership agreements. Bookmark this page for consolidated access to Novo's evolving exploration narrative and geological insights from Australia's premier gold regions.
Novo Resources Corp. has completed its acquisition of the remaining 50% interests in the Queens and Malmsbury gold joint ventures, part of the Belltopper gold project in Australia's Bendigo Tectonic Zone.
A total of A$0.75 million in cash and 2,088,554 shares were issued to Kalamazoo Resources for the Queens project, while A$1 million in cash, 4,037,872 shares, and 2,018,936 warrants were issued to GBM Resources for the Malmsbury project, totaling approximately A$1.6 million. The shares come with a 12-month hold period. The transaction has been conditionally approved by the Toronto Stock Exchange, although final consents from the Victorian Department of Jobs, Precincts and Regions are pending.
Additionally, CFO Ronan Sabo-Walsh will resign by July 2023.
Novo Resources Corp. has initiated a 3,000 m reverse circulation drilling program at the Catia Prospect, part of its Bellary Dome Project in Western Australia. The project covers a significant 10,500 sq km area, with high-grade gold mineralization indicated by previous rock chip samples showing peak results of 556 ppm and 117 ppm gold. The drilling aims to explore the strike potential of the Catia Trend for 700 m east of the main target. Novo plans to release drilling results as they come in, with this program being the first of several planned for the exploration season.
Novo Resources Corp. has announced the acquisition of the remaining 50% interests in the Queens and Malmsbury gold joint ventures located in Victoria, Australia. This acquisition grants Novo sole ownership of the Belltopper gold project within the Bendigo Tectonic Zone, a historically significant gold-producing area. The strategic consolidation of Belltopper positions Novo for enhanced exploration and development opportunities, with multiple high-grade gold targets identified. The acquisition involves cash payments of A$0.75 million to Kalamazoo Resources and A$1 million to GBM Resources, along with share issuances. The transaction is pending approval from regulatory authorities.
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