News about Novo Resources

Novo Resources' general manager of exploration Rohan Williams said the company is preparing a 2,700-metre drilling program at the Clone prospect in the Tibooburra Gold Project, New South Wales, to track mineralisation down plunge and test extensions of a couple of hundred metres along strike. Earlier 2025 drilling returned near-surface intercepts including 12 metres at 5.9 grams per tonne gold and 17 metres at 2.5 grams per tonne. In Western Australia, field teams are conducting soil and rock-chip sampling and mapping ahead of work at Teichman, Wyloo and Egina. Novo also has a potential 2,500-metre diamond drilling program at Belltopper in Victoria planned for the first half of 2027, and investors can expect drilling results before Christmas.

Novo Resources (TSX:NVO, ASX:NVO) is preparing a 2,700-metre reverse circulation drilling program at its Tibooburra Gold Project in New South Wales, with drilling at the Clone prospect expected to begin in early November to follow up high-grade gold shoots. At Egina in Western Australia, the company is reviewing geological data after Northern Star Resources withdrew from the earn-in, looking for Hemi-style targets around the Millindinna Intrusive Suite, with an update expected in December. Other plans include a first RC drilling campaign at Teichman in the first half of 2027, aircore drilling at Wyloo in 2027, and a potential 2,500-metre diamond program at Belltopper in the first half of 2027. At September 30, Novo held A$8.5 million in cash and about A$38.1 million in investments, the largest being a 2.39% interest in San Cristobal Mining Inc valued at about A$36.2 million.

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.