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Highlights
- High-grade gold intercepts reported from Cloner prospect
- New drilling planned at New Bendigo and John Bull targets
- Exploration expands across Pilbara including Sherlock Crossing
Novo Resources Corp (ASX:NVO) has revealed encouraging early-stage drilling results at its Tibooburra Gold Project in New South Wales, marking a promising phase of exploration progress. The results were part of the company's first-phase reverse circulation (RC) drilling at the Cloner prospect, an area within the broader Tibooburra project located in the state’s northwestern region.
Promising Intercepts at Cloner Prospect
The RC program at Cloner delivered notable intercepts, with highlights including 12.00 metres at 5.90 grams per tonne (g/t) of gold and 17.00 metres at 2.40 g/t. These high-grade outcomes suggest strong mineralisation potential and provide a foundation for the next phases of exploration. This drilling effort follows previous reconnaissance and aims to better understand the structural trends in the area.
Structural Insights and Expansion to New Bendigo
Geological assessments during the campaign indicate a shallow northern plunge to the mineralised zone at Cloner, now tracked over 300 metres and remaining open. This geometry shares characteristics with the nearby New Bendigo structure, though each is positioned on separate mineralised trends. Novo Resources plans to initiate drilling at New Bendigo next, which is expected to further define the broader gold system in the region. Additional work at the adjacent Pioneer prospect is also on the schedule.
Advancing Work at John Bull and the Pilbara
Alongside the activity in New South Wales, drill planning has been finalised for the John Bull project, with operations set to commence once site access is confirmed. Meanwhile, in Western Australia’s Pilbara region, exploration programs continue at the Sherlock Crossing and Yilba gold-antimony prospects. These areas are set for drill testing as Novo broadens its regional footprint.
Novo’s exploration strategy also includes grassroots initiatives across the Pilbara, employing geochemical techniques such as soil and rock chip sampling to identify new targets.
Positioning Amid a Buoyant Commodity Landscape
The sustained strength in gold and copper prices offers a favourable backdrop for exploration efforts. Though Novo Resources does not fall within the ASX100 category, broader interest in mining exploration often aligns with trends observed in the ASX 100 share price, which can influence investor sentiment and sector momentum.
With a diversified portfolio and active development across multiple gold prospects, Novo Resources continues to push forward its exploration goals in both New South Wales and Western Australia.
