Novo Resources has received approvals to begin a 2,700-metre reverse circulation drilling program at its Tibooburra Gold Project in New South Wales and formed a 70:30 joint venture with Manhattan Gold Corporation after meeting the A$1.5 million minimum exploration expenditure. Drilling of 18 holes at the Clone prospect is scheduled for mid-November, targeting the down-plunge extension of a shallow, high-grade gold shoot defined over around 300 metres of strike and to 90 metres depth. Novo holds 70% of the joint venture covering six exploration licences in the Albert Goldfields, while Awati Resources, a subsidiary of Manhattan Gold, retains 30%; Novo manages the project and funds exploration until a bankable feasibility study is completed. Regional sampling, mapping and soil surveys began in September to identify further targets across the 30-kilometre Albert Goldfield, with results pending and possible drilling planned for 2027.
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XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/27/2026 | 4,060.32 |
| Change that session | +1.07% |
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