Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) earlier this week reported initial high-grade gold intercepts from its first-phase reverse circulation drilling at the Cloner prospect within the Tibooburra Gold Project in New South Wales. Executive chairman and acting CEO Mike Spreadborough and Kas De Luca, general manager of exploration sat down with Proactive to discuss.
Highlights
- Novo Resources completed its first reverse circulation drilling at the Cloner prospect in Tibooburra, NSW.
- Notable intercepts: 12 metres at 5.9 g/t and 17 metres at 2.4 g/t.
- Kas De Luca confirmed the mineralisation shows a shallow northern plunge, tracked over 300 metres and remains open to the north.
- Exploration to continue at nearby New Bendigo and Pioneer prospects.
- Other active projects include John Bull in NSW and Sherlock Crossing and Yilba in the Pilbara.
- Drill programs are planned for all three locations in the upcoming months.
- Field teams are also conducting grassroots exploration in the Pilbara.
- Strong gold and copper markets support continued activity and news flow.
High-grade gold results
Novo Resources has reported encouraging high-grade gold results from the company’s first reverse circulation drilling program at the Cloner prospect within the Tibooburra Gold Project in northwestern New South Wales. The company reported standout results of 12.00 metres at 5.90 grams per tonne and 17.00 metres at 2.40 grams per tonne.
Executive chairman and acting CEO Mike Spreadborough said this marked a strong start for the project and confirmed the strike potential of the mineralisation. The program followed earlier drilling at Cloner and has prompted plans for further analysis and follow-up work.
New Bendigo drilling to come
Kas De Luca, general manager of Exploration, told investors the team had identified a shallow northern plunge to the mineralisation, now logged over 300 metres and still open. De Luca noted the similarity to structures at New Bendigo and said Cloner and New Bendigo lie on separate mineralised trends. The company plans to drill at New Bendigo next, followed by work at the nearby Pioneer area.
Drill planning at John Bull
Novo has also completed drill planning for the John Bull project and intends to begin work once site access is secured. In the Pilbara, exploration is underway at the Sherlock Crossing and Yilba gold-antimony prospects, where drill testing is planned.
The company said its multi-skilled teams are also progressing grassroots exploration across the Pilbara, including soil and rock chip sampling. Spreadborough added that strong gold and copper prices make this a favourable time for exploration and project development.