Proactive's Tylah Tully breaks down Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO)'s latest ASX Announcement.
Novo has signed a Determination Wide Aboriginal Heritage Protection Agreement with the Nyamal Aboriginal Corporation, enabling the company to expand exploration in the East Pilbara region of Western Australia. Novo has commenced surface sampling and mapping at the Miralga Project, focusing on previously identified targets.
The Gully Washer prospect within the project area has shown significant mineral potential, with rock chip samples indicating high grades of gold, silver, copper, lead, and zinc. Notably, one outcrop yielded four samples with over 2,000 grams per tonne of silver across a 100-metre strike.
With the agreement secured, Novo plans additional soil sampling at Miralga during the current quarter. At the Bamboo Project, the company intends to conduct detailed mapping and soil sampling over a two-kilometre area to identify drill targets for a reverse circulation program.
Read: Novo Resources ramps up exploration across Pilbara gold targets