Pilbara Exploration Update

In This Article:

Novo Resources Corp.
Novo Resources Corp.

HIGHLIGHTS

  • Recent grant of tenure at Balla Balla coupled with completed heritage surveys and regulatory approvals, will allow Novo to complete advanced exploration activities including aircore (AC) drilling in H1 2025.

  • Targeted follow-up rock chip sampling of the Sherlock Crossing historic antimony (Sb) mine yielded grades of up to 4.7% Sb and 146.7 g/t Au.

  • Rock chip sampling at Miralga, which is prospective for porphyry-related Cu-Au, yielded peak values of 1.2 g/t Au and 4.4% Cu from intense stockwork veining and alteration. A 400 m by 200 m coherent gold soil anomaly was defined, directly correlating with the high vein density at the margin of a highly altered porphyry intrusion at Shady Camp.

  • New and extended gold in soil anomalies delineated across the Tabba Tabba Shear Corridor, defined a 5 km-long linear soil gold anomaly greater than 20 ppb between No 6 Bore to Kilkenny targets, including elevated rock samples of up to 3.8 g/t Au.


Commenting on the Company’s exploration activity across its Pilbara assets, Mike Spreadborough, Executive Co-Chairman and Acting Chief Executive Officer, said: “Our exploration focus remains on progressing targeted reconnaissance and drilling programs across our project portfolio. The Egina Gold Camp, which is led by our flagship Becher Project, is located in a standout region for exploration and mining and this has been highlighted by the recently announced proposed A$5 billion acquisition of De Grey Mining by Northern Star. This proposal acquisition which demonstrates the potential of the region as a new major gold production hub.

“With De Grey progressing exploration efforts at Becher as part of our Egina joint venture, Novo will focus on ramping up activities across our next set of key projects in the Pilbara. We are at an advanced stage in planning for a maiden drill program at Balla Balla in the first half of 2025 and we will continue reconnaissance work programs along the Tabba Tabba Shear Corridor and at Miralga. Weare also very excited about the emerging opportunity at the Sherlock Crossing historic antimony mine, with a focus on commencing a maiden RC drill program in 2025.

“Following the sale of 38% of our investment in San Cristobal Mining for A$11.5 million, Novo is well-funded to continue its widespread exploration focus on advance key project generation opportunities which will complement our current project portfolio.”

Regional mapping area southeast of Gully Washer, Miralga Project
Regional mapping area southeast of Gully Washer, Miralga Project


Regional mapping area southeast of Gully Washer, Miralga Project

VANCOUVER, British Columbia, Dec. 09, 2024 (GLOBE NEWSWIRE) -- Novo Resources Corp. (Novo or the Company) (ASX: NVO) (TSX: NVO) (OTCQX: NSRPF) is pleased to provide an update on the exploration status of projects across its approx. 5,500 sq km prospective landholding the Pilbara, Western Australia (Figure 1).