AUS
NZ
UK
CA
USA
IND
Highlights
- Novo Resources has reported a maiden inferred mineral resource of 87,000 ounces of gold at the Leven Star Reef within Belltopper.
- Full control of the Egina Gold Project has returned to Novo.
- Novo is expanding exploration beyond gold, targeting antimony, silver, copper, and polymetallic opportunities across several assets..
- Proposed drilling programs span Western Australia, New South Wales and Victoria.
Novo Resources Corp. (TSX:NVO, ASX:NVO) has recently added several developments to its Australian exploration portfolio, highlighted by a maiden resource at the Belltopper Gold Project, the return of full control over the Egina Gold Project and an extensive drilling pipeline spanning multiple jurisdictions. Together, these milestones have broadened the company's exploration focus as it advances projects across Western Australia, Victoria and New South Wales.
Beyond its gold and copper portfolio, Novo is also evaluating opportunities linked to antimony and polymetallic mineralization, with exploration activities scheduled across several projects through the remainder of 2026.
Belltopper Reaches Resource Milestone
One of the notable developments emerged from Victoria, where Novo recently reported an inferred mineral resource for the Leven Star Reef at its wholly owned Belltopper Gold Project.
The maiden estimate comprises 760,000 tonnes grading 3.6 grams per tonne gold for 87,000 ounces of contained gold. Leven Star is one of eight gold-bearing reefs included within Belltopper's updated exploration target announced earlier in 2026.
The resource estimate is based on 44 drill holes and considered underground mining scenarios. Mineralisation remains open in several directions, leaving potential for future resource growth through additional drilling.
Situated approximately 120 kilometres northwest of Melbourne and about 60 kilometres south of Agnico Eagle's Fosterville Gold Mine, the project lies within the Bendigo Zone, an area associated with more than 60 million ounces of historical gold production.
Egina Returns to Novo's Portfolio
While Belltopper marked a resource milestone, another change emerged last month when Northern Star withdrew from the Egina Joint Venture, resulting in exploration activities at the Egina Gold Project reverting to Novo.
The company now has access to the complete exploration dataset generated through during the joint venture period, enabling a fresh assessment of the project and its strategic role within Novo's wider asset portfolio. Novo indicated that work across the Egina tenements is expected to resume during the second half of 2026.
The project sits within a broader portfolio that spans several exploration opportunities and jurisdictions, with the company continuing to evaluate priorities as programs unfold.
A Year Built Around Multiple Projects
With those developments in place, attention now turns to the exploration schedule outlined for 2026.
- The proposed drilling calendar begins with activity in the Pilbara during the second quarter, including activities at Wyloo, Cronus and Balla Balla.
- During the second half of the year, focus is expected to extend to the Teichman and Onslow projects, alongside work in New South Wales and continued drilling at Belltopper in Victoria.
The staggered timing creates a sequence of exploration programs spread across the year rather than concentrating activity in a single region or commodity.
Multiple Commodities, Multiple Opportunities
In addition to its drilling plans, Novo has identified a range of project priorities across gold, copper and antimony targets.
- Wyloo represents an early-stage antimony-silver opportunity, with planned reverse circulation drilling following encouraging geochemical results and rock-chip sampling.
- Balla Balla, a polymetallic target located within the Hemi district, continues to be evaluated using historical drilling data and geological interpretations.
- South of the Hemi Gold Project, Teichman hosts quartz structures and alteration zones that have returned rock-chip assays, with reverse circulation drilling planned during the third quarter of 2026.
- Belltopper, meanwhile, remains active through the second half of the year.
An updated exploration target and the newly reported Leven Star resource have added another layer to the Victorian asset as work continues across multiple reefs.
Looking Toward the Second Half of 2026
As one project delivers a maiden resource and another returns to the portfolio, Novo's focus now shifts toward execution.
Planned drilling across Pilbara assets, follow-up work at Teichman and Onslow, continued activity at Belltopper and the reassessment of Egina are expected to shape the next phase of exploration. With programs scheduled across Western Australia, New South Wales and Victoria, the remainder of 2026 is set to bring a series of geological studies, drilling campaigns and project reviews that will help determine how the company prioritises and advances its assets.
Shares of NVO last traded at CAD 0.070, up around 8%, on June 17, 2026.
