Novo Resources (ASX: NVO) executive co-chairman Mike Spreadborough gets philosophical about the gold price when speaking with Wally Graham on Day two of the 2025 RIU Sydney Resources Roundup.
THE DRILL SERGEANT: Novo Resources (ASX: NVO) has been busy of late across the company’s Egina Gold Camp and Balla Balla gold project in Western Australia.
Novo Resources received results from recent RC drilling undertaken at Nunyerry North that extended the high-grade Main Lode to 500 metres strike/plunge while intersecting high-grade gold along the Estrid Fault.
Intercepts from the 34 hole program include:
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13 metres at 2.68 grams per tonne gold from 66m, including 3m at 10.41g/t gold from 66m, and
11m at 2.2g/t gold from 84m, including 1m at 18.06g/t gold from 86m; and
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17m at 1.85g/t gold from 25m, including 7m at 3.55g/t gold from 25m.
Elsewhere within the project are, Novo’s Egina Joint Venture with De Grey Mining (ASX: DEG) has continued to carry out key exploration activities at the Becher project, entailing drilling at Heckmair, Lowe and Whillans, southwest of De Grey’s Hemi gold project.
“We continue our strong exploration program across key gold targets in the Pilbara,” Novo Resources executive co-chairman and acting CEO Mike Spreadborough said in the company’s ASX announcement.
“The drilling results at Nunyerry North are very promising and we look forward to assessing the complete program and establishing the next set of work activities.
“Our Egina Joint Venture partner, De Grey Mining, continues targeted exploration programs across key prospects at the Becher project.
“De Grey has completed approximately 36,000 metres of combined aircore and RC drilling at Becher to end July 2024 and plans to continue to drill across the Heckmair, Lowe and Whillans targets over the coming months.
“Our Egina JV tenements are considered highly prospective for significant intrusion-related gold deposits and shares similar attributes to the nearby 12.7 million ounce Hemi gold project.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
THE BOURSE WHISPERER: Novo Resources (ASX: NVO) has signed a Determination Wide Aboriginal Heritage Protection Agreement with the Nyamal Aboriginal Corporation covering 1,500 square kilometres of tenure in the East Pilbara of Western Australia.
Novo Resources declared the agreement paves the way for it to commence further exploration activities at the company’s priority Bamboo and Miralga projects.
The company explained the execution of the agreement streamlines interactions between Novo and the Nyamal People while confirming Novo’s commitment to open, honest and transparent dealings with the Traditional Owners of the Pilbara Region.
The agreement with NAC allows Novo to conduct non ground disturbing surface works including mapping and surface geochemistry, specifically targeting the Bamboo and Miralga projects.
Novo has already completed a heritage site avoidance survey to facilitate drill testing of the Bamboo gold trend, including orogenic and IRG targets.
The company has now commenced surface mapping and sampling at the Miralga project, following up on porphyry style and intrusion related targets generated from historical data and reconnaissance work in 2021.
“We are pleased to have reached an agreement with the Nyamal Aboriginal Corporation and thank them for their ongoing support of Novo and our exploration endeavours on their land,” Novo Resources executive co-chairman and acting CEO Mike Spreadborough said in the company’s ASX announcement.
“The terms of this agreement attest to the strong relationship Novo has with the Nyamal People.
“Novo looks forward to advancing its exploration in the region, as we continue key activities across the priority Bamboo and Miralga projects.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
