Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) has delivered strong gold results from a recently completed maiden reverse circulation (RC) drill program at Nunyerry North, part of the Egina Gold Camp in the Pilbara region of Western Australia.
Highlights from the photonAssayTM results at Nunyerry North include:
- 11 metres at 1.98 g/t gold from 22 metres, including 7 metres at 2.92 g/t;
- 4 metres at 4.15 g/t from 40 metres including, 2 metres at 7.42 g/t; and
- 5 metres at 1.84 g/t from 37 metres.
The results underscore the presence of significant coarse nuggety gold at the surface, with ongoing evaluations to assess the variability of coarse gold grades in drilling.
Novo plans follow-up drilling in the first half of 2024, aiming at down-plunge targets, depth exploration for repeat structures and broader regional step-out targets.
Meanwhile, another RC program of about 5,000 metres across 35 drill holes has just kicked off at Becher, targeting key areas identified by Novo, including the Heckmair, Irvine and Lowe prospects.
“Significant grade increase”
Novo executive co-chairman and acting CEO Mike Spreadborough said: “It is exciting to see a significant grade increase in the Nunyerry North results and especially close to surface.
“Plans are already in place for a follow-up program testing new shoots at depth and the eastern down-plunge extension, as well as a number of other targets within a 2 kilometre radius.
“We are also eagerly awaiting drill results from De Grey’s recently completed aircore drilling program at the Becher Project, which is part of our Egina farm-in and joint venture area and are very excited to announce that reverse circulation drill testing has commenced targeting mineralisation at Heckmair, Irvine and Lowe, as a follow-up to the outstanding work the Novo team conducted in 2022 and 2023 at Becher."
Gold-fertile corridors
The Egina Gold Camp, a contiguous tenement package, is strategically situated on structurally complex, gold-fertile corridors, extending from the Mallina Basin in the north to mafic/ultramafic sequences in the south.
This region, trending towards De Grey’s 11.5 million ounces Hemi Gold Project to the north and northeast, has been a primary focus for Novo's exploration efforts over the past 18 months.
The company's exploration activities have led to the delineation of the Nunyerry North orogenic gold prospect, with several other prospects in the southern corridor set for testing in 2024.
Nunyerry North forward exploration
Based on the highly encouraging results from the maiden RC drilling program, further work at Nunyerry North will include:
- 3D targeting and detailed geological and structural modelling.
- Additional RC and diamond drilling to test extensions to the known mineralisation, and the southern and western soil anomalies in H1 2024.
- Generation of high-resolution aerial photography and digital elevation model (DEM) for the entire target area.
- Intercepts from 5 additional drill holes have been sent for a 1kg screen fire assay to assess coarse gold variability, in preparation for future work programs.
- Detailed mapping and rock chip sampling in areas outside of the current limit of mapping.
- Petrological studies to define host rock composition, alteration and sulphide mineralogy.