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Novo Resources: Exploration Update Focused on Discovery Success in 2023
HIGHLIGHTS 8,000 m of drilling planned for H2 2023 across key Pilbara prospects and Belltopper gold project (“Belltopper”) in Victoria1. Drill programs are expe
About this update from Novo Resources Corp.
[{"type":"text","content":" HIGHLIGHTS 8,000 m of drilling planned for H2 2023 across key Pilbara prospects and Belltopper gold project (“Belltopper”) in Victoria1. Drill programs are expected to support future shareholder value and planned ASX dual listing process, which remains proposed for Q3 2023. Recent A$10 million cornerstone investment and earn-in and joint venture (“Egina JV”)2 with De Grey Mining Limited (ASX:DEG) (“De Grey”) highlights exciting future of Novo’s Becher project. The Egina JV introduces De Grey’s proven exploration success and accelerates exploration at Becher. It also allows Novo to advance other prospective areas within its sizeable exploration portfolio. Novo’s flagship Becher project is located in the northern section of the Egina Gold Camp, 28 km along trend from De Grey’s 11.7 Moz Au (JORC 2012)3 Pilbara Gold Project. Novo completed 2,540 aircore (“AC”) holes for over 61,400 m at Becher to the end of June 2023. Results have delivered promising gold and multi-element assays and defined a large area of gold mineralisation across 5 sq km, with a total of 109 intercepts > 1 g*m Au reported from drilling to date. New results from Becher continue to deliver positive intercepts including (89 holes pending assay results): 3 m @ 2.9 g/t Au from 66 m in F2140 6 m @ 0.45 g/t Au from 30m and 6 m @ 0.51 g/t Au from 60 m in F2137 3 m @ 0.94 g/t Au from 12 m and 12 m @ 0.25 g/t Au from 30 m including 3 m @ 0.36 g/t Au from 36 m in F2253 3 m @ 0.88 g/t Au from 21 m in F2136 6 m @ 0.37 g/t Au from 33 m in F2247 3 m @ 0.64 g/t Au from 12 m in F2299 3 m @ 0.61 g/t Au from 9 m in F2150 Nunyerry North, located in the southern section of the Egina Gold Camp, is the next target being progressed as part of Novo’s aggressive Pilbara exploration focus. Novo’s maiden drill program, testing the extensive coherent high-tenor soil anomaly, is planned for H2 20231. Balla Balla, an emerging project in the northern Pilbara, covers an area over 1,200 km sq focussed on the major Sholl Shear structural corridor. Reconnaissance drilling is planned in H2 20231. Novo is developing targets around recently identified gold-anomalous intrusions at Bamboo-Strattons projects in the East Pilbara near Marble Bar where reverse circulation (“RC”) drilling is planned for H2 20231. Priority targets emerging at the Belltopper project in Victoria, following a detailed revie...