Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) has revealed ‘promising’ gold hits from the first six holes of the company’s maiden reverse circulation (RC) drill program at Nunyerry North, situated in the Southern Egina Gold Camp in Pilbara, Western Australia.
The maiden program included the best intercepts of 13 metres at 1.18 g/t gold, 7 metres at 1.12 g/t gold and 3 metres at 1.37 g/t gold.
Following on from promising early-stage results, Novo increased the current program to 2,300 metres with an additional four holes to be completed by late October 2023.
“Exciting exploration target”
Novo executive co-chairman and acting CEO Mike Spreadborough said: “We are very pleased with these initial results from the drilling at Nunyerry North, which have delivered intercepts of up to 13 metres @ 1.18 g/t gold from surface.
“As a result of these results we have increased the size of the program to 2,300 metres and look forward to completing the final holes by late October.
“Nunyerry North is an exciting exploration target for Novo and we have only started to understand the potential extent of the gold mineralised system.
“We are very focused on ensuring the progress we are making on the ground continues and have already begun planning for a follow-up drill program in the first half of 2024.
“In addition to Nunyerry North, it is great to see De Grey commence their exploration program at the Becher Project, which is part of our Egina JV. De Grey have outlined a substantial 39,000-metre program of AC, RC and diamond drilling.
“We will also commence a 2,200-metre diamond drill program at our exciting Belltopper Gold project in Victoria in early November.
“Belltopper is located only ~50 kilometres south of Agnico Eagle’s Fosterville Gold Mine in the Bendigo Tectonic Zone, where over 60 million ounces gold were produced historically.”
High priority exploration target
Previous reconnaissance work completed by Novo highlighted Nunyerry North as a high priority exploration target, with potential to become a significant gold project and delineated greater than 1.4 strike-kilometres of high-tenor gold anomalism at surface.
The primary focus of this current drill program is to target significant mineralised zones defined by surface exploration along the sizeable known strike extent.
Drill program
Novo kicked off its maiden RC drill program of about 2,000 metres at Nunyerry North in September this year.
To date, 24 holes across 2,028 metres have been completed.
The program has been extended to 2,300 metres on the basis of early results, with four holes remaining to be drilled.
The program is anticipated to be completed by late this month
Importantly, significant zones of quartz veins and variable sulphides have been intersected.