HIGHLIGHTS
-
Exploration ramped up across Novo Resource’s (Novo
or the Company) priority Pilbara targets in Q2
2024, with drilling programs running concurrently at Nunyerry North
and the Becher Project (Becher) in the Egina Gold
Camp.
-
Drilling at Nunyerry North commenced in May 2024
and was completed in late July 2024 with over 3,200 m reverse
circulation (RC) drilling to date. The program
tests multiple new targets along strike of known mineralisation and
down plunge of existing intercepts. Final assays expected mid-
August.
-
Follow-up aircore (AC) and RC drilling programs
commenced at Novo’s flagship Becher Project by De Grey Mining
(De Grey) with two drill rigs. Initial focus for
these programs is on testing gold and base metal mineralisation at
the priority Heckmair and Lowe Prospects.
-
De Grey plans to undertake a further 28,000 m of combined AC and RC
drilling in 2024, adding to the ~10,500 m already completed in Q4
2023.
-
Recent exploration review in the Karratha district has advanced
several drill targets, including North Whundo,
Railway Bore and East Well. A
program of ~3,500 m of RC drilling is planned to test these
prospects in late Q3 2024 post completion of heritage surveys.
-
Reconnaissance AC drilling is also planned at Balla Balla in late
Q3 2024 post completion of heritage surveys.
-
At the Belltopper Gold Project in Victoria, results were received
from the six-hole, 2,529 m, diamond drill program completed in Q1
2024.
-
Significant intercepts included1:
- 5.6 m @ 3.14
g/t Au from 219.8 m and 4.25 m @ 5.88 g/t
Au from 274.75 m (including 2 m @ 11.15 g/t
Au) and 1.94 m @ 2.37 g/t Au from 230 m
in BTD001 on the Leven Star Reef.
- 2 m @ 15.18
g/t Au from 9 m in BTD004 on a newly discovered reef.
- 12.26 m @
1.45 g/t Au from 185 m (including 4.6 m @ 2.64 g/t
Au) in BTD005 on the Missing Link Reef.
- 7 m @ 1.88
g/t Au from 179 m (including 3.19 m @ 3.42 g/t
Au) in BTD006 on the Piezzi Reef, a parallel structure to
the O’Connors Reef.
-
New gold reefs have been delineated, and extension
potential demonstrated on several key historic reefs. A new
high-priority north-west trending target corridor was also
defined.
-
Hole BTD001 extended mineralisation up to 120 m down-dip on the
Leven Star Reef in an emerging high-grade zone and anomalous gold
in BTD003 indicates a potential north-east extension to the Leven
Star Reef in addition to evidence for a prospective parallel
structure (the Butchers Gully Fault).
-
Hole BTD002 intersected the Hanover Reef, and discovered an
additional, parallel reef (the Welcome Fault) returning 4.1
m @ 2.37 g/t Au from 36.1 m. BTD002 is the only hole
drilled into this developing target corridor.2
-
Structural logging has confirmed the geometry and position of
major anticline corridors which remain priority
targets for structurally controlled high-grade gold events such as
those seen at the nearby Fosterville gold mine.
- Novo continues to focus its efforts on dedicated and
disciplined project generation program to focus on identifying
value accretive opportunities across targeted precious and base
metals assets that complement the current portfolio.
-
Novo is in a strong financial position to continue its exploration
focus on Western Australia and Victoria, with no debt and a
cash balance of A$11.7 million (C$10.7 million) and investments of
approximately A$46.2 million (C$42.1 million) as at 30 June
2024.3
Commenting on the June quarter, Novo Executive
Co-Chairman and Acting CEO Mike Spreadborough said, “It has been a
busy quarter as we progressed exploration activity across our
Pilbara portfolio and analysed results from our Belltopper drill
program from earlier in the year.”
“Results from the Nunyerry North RC drill
program will now be assessed prior to finalising targets for
diamond drilling and the team will continue to finalise planning
for a RC drill program to test three prospects in the Karratha
district, with drilling scheduled to start late next quarter.”
“At the Balla Balla Gold Project, a
reconnaissance AC program is also planned for the second half of
the year, testing prospectivity adjacent to the Sholl Shear and
associated potentially fertile structural corridors
undercover.”
“Excitingly, results from the Belltopper diamond
drill program were received and new gold reefs have been delineated
with extension potential demonstrated on several key historic
reefs. A program of historical core logging and sampling of several
deep diamond holes drilled by previous explorers has now been
initiated with results from this work expected to be finalised in
the first half of Q3 2024.”
“As always, the team is continuing our
aggressive exploration push, with a busy half planned and a strong
pipeline of news expected for the remainder of
2024”.
SUSTAINABILITY
There were no significant safety, environment,
or community incidents during Q2 2024.
Discussions are advanced with Traditional Owners
to ensure appropriate heritage protection for planned Nunyerry
North, Balla Balla and Karratha District drill programs and for
eventual exploration in the Yandeyarra Reserve (part of Novo’s
Egina Gold Camp).
WESTERN AUSTRALIAN GOLD
PORTFOLIO
Egina Gold Camp
The Egina Gold Camp is an 80 km long contiguous
tenement package, which hosts Novo’s current high priority Pilbara
targets (Figure 1) at Nunyerry North and Becher.
The tenure is focussed on a series of structurally complex,
gold-fertile corridors and is hosted by rocks of the Mallina Basin
in the north and mafic / ultramafic sequences further south. This
belt is the primary focus for Novo’s 2024 Pilbara exploration
programs.
Figure 1: Novo Pilbara tenure
showing main projects and significant prospect.
In addition to the Nunyerry North and Egina JV,
several other priority gold targets are also being progressed along
the main structural corridors within the EGC (Figure
2). These prospects form part of Novo’s regional
reconnaissance program in 2024.
Nunyerry North (70% Novo / 30% Creasy
Group)
The Nunyerry North prospect lies within
Exploration Licence E47/2973 in the southern EGC, located 150 km
from Port Hedland. The tenement is subject to a Joint Venture
agreement, with Novo holding a 70% interest and the remaining 30%
held by Rockford Metals Pty Ltd, an entity of Mark Gareth Creasy
(The Creasy Group). Novo completed a maiden RC drilling program of
30 holes for 2,424 m at Nunyerry North in Q4 2023.
Figure 2: EGC tenure showing
significant Au prospects, location of Nunyerry North, and JV
interests.
Phase 2 RC drilling commenced at Nunyerry North
in late May 2024 following receipt of significant results from the
maiden drill program. The current program was completed with a
total of 28 RC holes for 3,168 m drilled in June 2024. The program
was designed to test multiple new targets along strike of known
mineralisation and down plunge of existing intercepts
(Figure 3). Final assays are expected in
mid-August.
Figure 3: Nunyerry project area
with interpreted geology, highlighting strike extent of favourable
stratigraphy and additional structural targets for further drill
testing.
Egina Earn-in/JV (De Grey earning a 50%
interest)
In the northern Egina Gold Camp at the Egina JV
area, Novo’s partner De Grey commenced drill programs in late May
2024, with two rigs concurrently conducting a proposed approximate
28,000 m combined AC and RC drill program. The RC drill program is
focussed initially at Heckmair and has been designed to follow up
on encouraging results at Lowe, Heckmair, and Whillans. The AC
drill program has commenced at Lowe and aims to provide better
geochemical coverage over structural and intrusion targets
(Figure 4). At 30 June 2024, a total of 38 RC
holes for 4,975 m and 201 AC holes for 16,955 m had been completed.
Results are expected in late Q3 2024.
Figure 4: Proposed drill
programs by JV partner De Grey at the Becher Project in the Egina
JV
Karratha District Prospects
Novo’s maiden RC drilling program at the North
Whundo, Railway Bore and East Well prospects is scheduled for late
Q3 2024. A total of ~3,500 m is planned to test Au and Au-Cu (+/-
Pt-Pd) targets defined by a combination of mapping, surface
geochemistry and reprocessing/reinterpretation of historic
geophysics (IP chargeability and anomalies).
Recent exploration in the Karratha district has
advanced several drill targets, including North Whundo, Railway
Bore and East Well.
By way of further detail:4
-
The primary target North Whundo5 is defined by a
significant 1.2 km long Cu-Pd-Au anomaly, with
highly anomalous rock chip results including peak values of
4.1 g/t Au+Pt+Pd and 3.9 % Cu.
-
At Railway Bore5, rock chip results include 9.6 g/t Au,
11.9% Cu and 26 g/t Ag from malachite rich breccia in a
swarm of felsic intrusion-hosted quartz veins.
-
At East Well, a 450 m long copper pXRF soil anomaly > 200 ppm Cu
delineates the intersection of a high-grade quartz vein trend and a
Au-PGE-Cu breccia trend.
Figure 5: Karratha District
showing Novo tenure and significant prospects
Balla Balla Gold Project
Balla Balla is an emerging exploration project
centred on the Sholl Shear and associated potentially fertile
structural corridors undercover. The Project is considered
prospective for intrusion-hosted gold mineralisation, in addition
to structurally controlled gold. Geophysical interpretation and
research of historical data completed in 2023 advanced the
Company’s understanding of prospectivity in the project area and
further delineated targets for follow-up work in 2024. A
reconnaissance AC drill program is currently in planning for H2
2024.
Forward Programs – Pilbara
Results from the Nunyerry North RC drill program
will be assessed prior to finalising targets for diamond drilling.
At Becher, in the Egina JV, De Grey AC and RC drilling programs are
expected to continue in Q3 2024. Geophysical surveys proposed for
Q2 2024, including a high-resolution drone aeromagnetic survey at
Becher, and ground gravity over several additional selected areas,
have been delayed and are now scheduled for Q3 2024.
Novo also plans to conduct a RC drill program to
test three prospects in the Karratha district, with programs to be
completed at Railway Bore, East Well, and North Whundo. Drilling is
scheduled to start in late Q3 2024 and will total ~3,500 m to test
Au and Au-Cu(+/- Pt-Pd) targets defined by a combination of
mapping, surface geochemistry and historic geophysics (IP
chargeability anomalies).
At the Balla Balla Gold Project, a
reconnaissance AC drill program is also planned for H2 2024,
testing prospectivity adjacent to the Sholl Shear and associated
potentially fertile structural corridors undercover. The Project is
considered prospective for intrusion-hosted gold mineralisation, in
addition to structurally controlled gold. Geophysical
interpretation and research of historical data completed in 2023
advanced the Company’s understanding of prospectivity in the
project area and further delineated priority targets.
BELLTOPPER GOLD PROJECT, VICTORIA
In Victoria, final gold and multi-element assay
results have been received from the diamond drilling at the
Belltopper Gold Project (Figure 6) completed late
Q1 2024. Summary metrics for the program are 6 holes for 2,529 m.
The program was designed to test multiple high-priority targets,
including structural and intrusion hosted/related gold targets,
high-amplitude IP chargeability anomalies and favourable structural
positions within key anticline corridors, and a developing
high-grade zone at the Leven Star Reef.
A program of historical core logging and
sampling of several deep diamond holes drilled by previous
explorers has also been initiated. Results from this work are
expected to be finalised in the first half of Q3 2024.
Figure 6: Belltopper Gold
Project location map with focus area for the diamond drilling
program.
A series of significant results were returned from the drill
program contributing to the understanding of the tenor and position
of key historic reefs. A new high-priority north-west trending
target corridor was also defined.
Key results from the drill program included6:
- 5.6 m @ 3.14
g/t Au from 219.8 m and 4.25 m @ 5.88 g/t
Au from 274.75 m (including 2 m @ 11.15
g/t Au) and 1.94 m @ 2.37 g/t Au from 230
m in BTD001 on the Leven Star Reef.
- 2 m @ 15.18
g/t Au from 9 m in BTD004 on a newly discovered reef.
- 12.26 m @
1.45 g/t Au from 185 m (including 4.6 m @ 2.64 g/t
Au) in BTD005 on the Missing Link Reef.
- 7 m @ 1.88
g/t Au from 179 m (including 3.19 m @ 3.42 g/t
Au) in BTD006 on the Piezzi Reef, a parallel structure to
the O’Connor’s Reef.
The mineralisation presented in the body of this
release is not necessarily representative of mineralisation
throughout the Belltopper Gold Project. Intercepts are expressed as
down-hole intersections and should not be presumed to represent
true widths, which vary from hole to hole and between reefs.
Significant gold results span a range of
mineralisation styles; including oblique to stratigraphy high-grade
shear or fault related mineralisation analogous to that at
Costerfield or Stawell mines; layer-parallel laminated gold-bearing
quartz, quartz breccia, and west-dipping mineralised faults
analogous to high-grade Victorian deposits such as at Fosterville
mine; and broad, low-grade mineralisation associated with the
anticline saddle reef-style that has contributed so significantly
to the historical gold endowment of the nearby Bendigo and
Castlemaine goldfields.
The recent drilling continues momentum garnered
from current exploration efforts and the 2021 - 2022 diamond
drilling program which discovered and delineated a gold-bearing
felsic porphyry with clear IRG characteristics (confirming a new
but hypothesised mineralisation style in the region); in addition
to highlighting several underexplored, kilometre-scale, high-grade
gold reefs with emerging shoot potential, that have in many cases
only been tested by a handful of scout or reconnaissance holes at
best. Key learnings from the program include:
-
Hole BTD001 extended mineralisation up to 120 m down-dip on the
Leven Star Reef in an emerging high-grade zone, and in addition
anomalous gold in BTD003 indicates a potential north-east extension
to the Leven Star Reef in addition to evidence for a prospective
parallel structure (the Butchers Gully Fault).
-
Hole BTD0025 intersected the Hanover Reef, and discovered an
additional, parallel reef (the Welcome Fault) returning 4.1 m @
2.37 g/t Au from 36.1 m. BTD002 is the only hole drilled into this
developing target corridor.7
-
Structural logging has confirmed the geometry and position of major
anticline corridors which remain priority targets for structurally
controlled high-grade gold events such as those seen at the nearby
Fosterville gold mine.
Figure 7: Oblique view of IP
lines showing chargeability anomalies and key reefs tested as part
of current program.
Figure 8: Collar location map
(LIDAR) and drill azimuth for the six recently completed diamond
drill hole at Belltopper. Key structural elements and target
mineralised reefs (red lines) also delineated.
Forward Programs - Victoria
Work during Q3 2024 will focus on reviewing
assay and logging data of key historic drill holes from the
developing target corridors at Belltopper, and then focus on
updating the 3D Geological Model and integrating newly derived data
from relogging.
An expanded spectral logging program on pulps
from key historic and recent drill hole samples has also commenced.
In conjunction with detailed multi-element data for the
corresponding pulps, this will provide another critical layer to be
integrated into the targeting model to help vector into the most
prospective areas for high-grade mineralisation.
BATTERY METALS JOINT
VENTURES
Harding Battery Metals Joint Venture
(HBMJV)
In December 2023, Novo entered into a tenement
sale agreement, joint venture agreement, and coordination agreement
with SQM Australia Pty Ltd (SQM), a wholly owned subsidiary of
Sociedad Química y Minera de Chile S.A., in relation to five of
Novo’s prospective lithium and nickel exploration tenements
(Priority Tenements) in the West Pilbara. SQM has paid Novo A$10
million (C$8.84 million) for a 75% interest in the Priority
Tenements and for an option over additional Pilbara exploration
tenements, with Novo retaining a 25% interest, along with 100%
ownership of the gold, silver, PGE, copper, lead and zinc mineral
rights.
Figure 9: Location of Priority
Tenement adjacent to Azure Minerals’ (ASX: AZS)Andover Lithium –
Nickel Project.
Quartz Hill Joint Venture
The Quartz Hill Joint Venture is an 80% / 20%
unincorporated joint venture between Liatam Mining Pty. Ltd.
(Liatam) and Novo relating to battery minerals.
This joint venture was formalised on 20 December 2023, when Liatam
exceeded the required earn-in expenditure amount. Liatam is the
owner of the included tenements and manager of the joint
venture.
The Quartz Hill Joint Venture comprises five
granted Exploration Licences and eighteen Prospecting Licences,
covering approximately 702 sq km (Figure 10).
Field based exploration to date confirms the area is highly
prospective for LCT-style (lithium-caesium-tantalum) pegmatite
hosted lithium mineralisation.
Exploration by Liatam has extended known lithium
mineralisation at the Lepidolite Fields LCT pegmatite swarm target
with best results from surface sampling8:
-
2.71% Li2O, and 828 ppm Cs2O
-
2.37% Li2O, 303 ppm Ta2O5 and 883 ppm Cs2O
-
2.14% Li2O, 615 ppm Ta2O5 and 1,195 ppm Cs2O
-
1.98% Li2O, 277 ppm Ta2O5 and 882 ppm Cs2O
-
1.64% Li2O, 651 ppm Ta2O5 and 2,390 ppm Cs2O
-
1.24% Li2O, 722 ppm Ta2O5 and 1,722 ppm Cs2O
Approximately 9,000 m RC drilling is planned to
test the ~ 6 km long and 0.8 km wide Lepidolite Fields LCT
pegmatite swarm in H2 2024.
Figure 10: Lepidolite Fields and
Quartz Hill West exploration areas identified through mapping and
surface sampling.
A second LCT pegmatite swarm was identified at
Quartz Hill West and The Gap with best surface results of9:
-
2.45% Li2O and 589 ppm Cs2O
-
2.23% Li2O, and 1,290 ppm Cs2O
-
1.22% Li2O, 181 ppm Ta2O5 and 780 ppm Cs2O
A large regional, soil sampling program is also
planned in H2 2024 to assist in identifying buried pegmatite swarms
in three areas of no or poor outcrop at Cajuput Creek, Quartz Hill
West / Lepidolite Fields and East Regional.
CORPORATE
Relinquishment of Tenure
The Company’s exploration programs across key
Pilbara areas continue to be successful in identifying priority
targets for exploration follow-up drilling along with identifying
tenure that provides little further exploration value or
follow-up.
As a result, tenure of no value to Novo’s
strategy, continues to be relinquished to reduce land tenure
holding costs. The Company currently has an estimated ~6,700 sq km
and reduced annual holding costs.
Financial Update
As at 30 June 2024, Novo had a cash balance of
A$11.7 million (C$10.7 million).
In addition, Novo has an investment portfolio of
shares held in ASX-listed and unlisted companies that is valued at
approximately A$46.2 million (C$42.1 million), consisting of:
(1) ASX-listed companies,
valued at approximately A$1 million (C$0.9 million) based on the
closing price of those shares on 30 June 2024; and
(2) Unlisted companies, valued
at approximately A$45.2 million (C$41.2 million).
|
Ticker |
Numberof sharesheld |
Novo’sinterest |
ValueA$’000 |
ValueC$’000 |
(1) ASX-listed shares* |
Kalamazoo Resources Limited |
ASX: KZR |
10,000,000 |
5.72% |
$830 |
$758 |
GBM Resources Limited |
ASX: GBZ |
11,363,637 |
1.00% |
$114 |
$104 |
Calidus Resources Limited** |
ASX: CAI |
1,347,089 |
0.18% |
- |
- |
Kali Metals Limited (commenced trading January 8, 2024) |
ASX: KM1 |
566,947 |
0.39% |
$133 |
$122 |
(2) Unlisted shares*** |
Elementum 3D Inc. (E3D) |
Unlisted (US$) |
2,076,560 |
8.84% |
$21,228 |
$19,383 |
San Cristobel Mining Inc. (SCM) |
Unlisted (US$) |
2,000,000 |
4.32% |
$23,983 |
$21,899 |
*ASX-listed shares were converted to C$ using an
exchange rate of C$ to A$ of 1 : 1.0952
** Calidus Resources Limited went into voluntary
administration on 28 June 2024, based on this management deemed it
reasonable to impair the share value down to zero. The impairment
was A$150k.
***The valuation of the unlisted shares held in
E3D is in line with management’s valuation as at 30 June 2024,
converted using an exchange rate as at 30 June 2024 from US$ to C$
of 1 : 1.3687 and C$ to A$ of 1 : 1.0952. The valuation of the
unlisted shares held in SCM is in line with management’s valuation
as at 30 June 2024 based on a private placement that commenced in
March 2024, and closed in April 2024, converted using an exchange
rate as at 31 March 2024 from US$ to C$ of 1 : 1.3687 and C$ to A$
of 1 : 1.0952.
Shares held in Elementum 3D and San Cristobal
Mining are initially recognised at fair value (and remeasured with
reference to share prices at which funds are raised from
third-party investors) or were based on independent valuations
performed. For further information on Novo’s investment portfolio,
please refer to Novo’s website.
Project Generation
Novo continues to focus its efforts on a
dedicated and disciplined project generation and consolidation
program to identify value accretive opportunities across targeted
precious and base metals assets that complement the Company’s
current portfolio.
Comet Well and Purdy’s
North
Novo’s board of directors has resolved to seek
interest from parties who have an interest in owning or being part
of a joint venture on the Comet Well and Purdy’s North project.
As part of this decision, a sale process for
Mechanical Ore Sorting is underway.
Strategic Update
Following the announcement on 29 February 2024
regarding the start of a recruitment process to identify and secure
a qualified and experienced chief executive officer (CEO), with Mr
Mike Spreadborough’s (current Executive Co-Chairman and acting CEO)
move to the role of Non-Executive Chairman, the board has decided
to suspend that process. This is in light of the experience and
knowledge Mr Mike Spreadborough brings to the position and ensures
continuity as the Company continues its focus on project generation
activities.
CONTACT
Investors:Mike Spreadborough +61 8 6400 6100
info@novoresources.com |
North American Queries:Leo Karabelas+1 416 543
3120leo@novoresources.com |
Media:Cameron Gilenko+61 466 984
953cgilenko@citadelmagnus.com |
Authorised for release by Board of
Directors.
QP STATEMENT
Ms De Luca (MAIG), is the qualified person, as
defined under National Instrument 43-101 Standards of Disclosure
for Mineral Projects, responsible for, and having reviewed and
approved, the technical information contained in this news release.
Ms De Luca is Novo’s General Manager Exploration.
JORC COMPLIANCE STATEMENTS
The information in this news release that
relates to Exploration Results at the Karratha District Prospects
(North Whundo, Railway Bore and East Well) is extracted from Novo's
announcement titled Follow-up Drilling to commence at Nunyerry
North and New Targets Defined Near Karratha dated 1 May 2024 (and
released to ASX on 2 May 2024), which is available to view at
www.asx.com.au. The Company confirms that it is not aware of any
new information or data that materially affects the information in
the original market announcement and that the form and context in
which the Competent Person’s findings are presented have not been
materially modified from the original market announcement.
The information in this news release that
relates to Exploration Results at Beltopper is extracted from
Novo's announcement titled Significant Results from Diamond
Drilling at Beltopper, Victoria dated 4 June 2024 (and released to
ASX on 5 June 2024), which is available to view at www.asx.com.au.
The Company confirms that it is not aware of any new information or
data that materially affects the information in the original market
announcement and that the form and context in which the Competent
Person’s findings are presented have not been materially modified
from the original market announcement.
The information in this news release that
relates to Exploration Results at Quartz Hill is extracted from
Novo's announcement titled Lithium Exploration Update 2024 Quartz
Hill Joint Venture dated 29 May 2024 (and released to ASX on 30 May
2024), which is available to view at www.asx.com.au. The Company
confirms that it is not aware of any new information or data that
materially affects the information in the original market
announcement and that the form and context in which the Competent
Person’s findings are presented have not been materially modified
from the original market announcement.
DISCLAIMER
This Business Review constitutes a voluntary
disclosure by the Company and is not a Quarterly Activities Report
for the purposes of ASX Listing Rules 5.3 and 5.5 for which Novo
has an exemption, as a foreign entity with its primary listing on
an overseas exchange with a particular obligation imposed by the
home exchange that is comparable to the ASX Listing Rule
obligation.
FORWARD-LOOKING INFORMATION
Some statements in this news release contain
forward-looking statements, including, without limitation, planned
exploration and the expected timing of receipt of assay results.
These statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such factors
include, without limitation, customary risks of the resource
industry and the risk factors identified in Novo’s annual
information form for the year ended December 31, 2023, which is
available under Novo’s profile on SEDAR+ at www.sedarplus.ca and in
the Company’s prospectus dated 2 August 2023 which is available at
www.asx.com.au. Forward-looking statements speak only as of the
date those statements are made. Except as required by applicable
law, Novo assumes no obligation to update or to publicly announce
the results of any change to any forward-looking statement
contained or incorporated by reference herein to reflect actual
results, future events or developments, changes in assumptions or
changes in other factors affecting the forward-looking statements.
If Novo updates any forward-looking statement(s), no inference
should be drawn that the Company will make additional updates with
respect to those or other forward-looking statements.
ABOUT NOVO
Novo is an Australian based gold explorer listed
on the ASX and the TSX focused on discovering standalone gold
projects with > 1 Moz development potential. Novo is an
innovative gold explorer with a significant land package covering
approximately 6,700 square kilometres in the Pilbara region of
Western Australia, along with the 22 square kilometre Belltopper
project in the Bendigo Tectonic Zone of Victoria, Australia.
Novo’s key project area is the Egina Gold Camp,
where De Grey Mining (ASX: DEG) is farming-in to form a JV at the
Becher Project and surrounding tenements through exploration
expenditure of A$25 million within 4 years for a 50% interest. The
Becher Project has similar geological characteristics as De Grey’s
12.7 Moz Hemi Project.10 Novo is also advancing gold exploration at
Nunyerry North, part of the Croyden JV (Novo 70%: Creasy Group
30%), where 2023 exploration drilling identified significant gold
mineralisation. Novo continues to undertake early-stage exploration
across its Pilbara tenement portfolio.
Novo has also formed lithium joint ventures with
both Liatam and SQM in the Pilbara which provides shareholder
exposure to battery metals.
Novo has a significant investment portfolio and
a disciplined program in place to identify value accretive
opportunities that will build further value for shareholders.
Please refer to Novo’s website for further
information including the latest Corporate Presentation.
__________________________________
1 Refer to Novo’s news release dated 4 June 2024 – Significant
Results from Diamond Drilling at Belltopper, Victoria for full
results (released to ASX on 5 June 2024).2 See Footnote 1 above.3
See “Financial Update” below for additional detail.4 Refer also to
news release dated 1 May 2024 – Follow-Up Drilling to Commence at
Nunyerry North and New Targets Defined Near Karratha (released to
ASX on 2 May 2024).5 Refer also to news release dated 1 May 2024 –
Follow-Up Drilling to Commence at Nunyerry North and New Targets
Defined Near Karratha (released to ASX on 2 May 2024).6 Refer to
news release dated 4 June 2024 – Significant Results from Diamond
Drilling at Belltopper, Victoria (released to ASX on 5 June 2024).7
See Footnote 5 above.8 Refer to news release dated 29 May 2024 –
Lithium Exploration Update 2024 Quartz Hill Joint Venture (released
to ASX on 30 May 2024).9 See Footnote 7 above.10 Refer to De Grey’s
ASX Announcement, Hemi Gold Project Resource Update, dated 21
November 2023. No assurance can be given that a similar (or any)
commercially viable mineral deposit will be determined at Novo’s
Becher Project.
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/3ebdc867-ed31-45b1-853d-5f49d446b6d0
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e8af12d-87f3-4a42-9df5-daf520ba3ab2
https://www.globenewswire.com/NewsRoom/AttachmentNg/7c5e9155-4922-4ca8-8fc8-be17ec78e810
https://www.globenewswire.com/NewsRoom/AttachmentNg/d3a02bba-0d77-4ad0-86a1-8692c56bd7c8
https://www.globenewswire.com/NewsRoom/AttachmentNg/31741b61-f39c-4cbc-a065-f1fb998bca42
https://www.globenewswire.com/NewsRoom/AttachmentNg/873cbe43-8407-4bb9-aaba-09c7f61cfc46
https://www.globenewswire.com/NewsRoom/AttachmentNg/7ef8b705-3ef5-498f-8234-f970d1011090
https://www.globenewswire.com/NewsRoom/AttachmentNg/e975d1db-4991-489e-8fc5-01151c1ca9f4
https://www.globenewswire.com/NewsRoom/AttachmentNg/51429108-6783-4191-b391-ab9ffa121f71
https://www.globenewswire.com/NewsRoom/AttachmentNg/d97f5027-5a96-405e-a8a9-161ec8b0e46d
Novo Resources (TSX:NVO)
過去 株価チャート
から 8 2024 まで 9 2024
Novo Resources (TSX:NVO)
過去 株価チャート
から 9 2023 まで 9 2024