Novo Resources Corp earlier this week released assay results from surface rock-chip sampling at its Tibooburra gold project in New South Wales, including a standout result of 39.9 grams per tonne (g/t) gold. The company said the results were from the Pioneer area, part of a broader gold system extending over 20 kilometres.
Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO)’s executive co-chair and acting CEO Mike Spreadborough told investors the company had now completed surface mapping and sampling at Pioneer North and South. Seven of more than 20 rock chips collected returned values over 4 g/t gold, with the best sample grading 39.9 g/t.
The company told Proactive it had integrated the new surface data with historical drilling results, highlighting potential for gold mineralisation to plunge at depth. It is now considering a return to drilling at Tibooburra in late 2025 or early 2026.
At other prospects within its Pilbara exploration portfolio, Novo has also progressed work. The company said it was still awaiting access to drill at John Bull near Grafton, New South Wales. Spreadborough said Novo remained committed to the project.
In Western Australia, Novo has commenced drilling at the Sherlock prospect. It said assay results from this campaign would be released soon. Sherlock includes targets for both gold and antimony.
Meanwhile, the company has now gained access to its Egina tenements, located south of De Grey Mining’s Hemi discovery. It said this was the first time fieldwork had been possible in the area, due to previous access limitations. Work programs are underway.
Novo expects continued news flow from its various exploration fronts in the coming weeks.
Proactive: Novo Resources has reported a hit of up to 39.9 grams per tonne of gold at the Tibooburra gold project in New South Wales. There's a fair bit to dive into at Novo, and for all the latest, I'm joined by the company's Executive Co-Chair and Acting CEO, Mike Spreadborough. Mike, it's good to have you back on Proactive. How are you?
Mike Spreadborough: Great to be here. Good to share some good news.
Proactive: There’s some fantastic news to share with investors. You’ve been quite busy behind the scenes over the last few weeks, but I’ve noticed how you’ve expressed to the market how impressed you were by the size of the Tibooburra gold system. And here we are today talking about 39.9 grams per tonne of gold. The market reacted really well to the assay results from a few days ago. Can you walk us through that?
Mike Spreadborough: At Pioneer, we’ve got Pioneer South and Pioneer North, which are north of Clone. It’s an area with a lot of historical workings — shafts, an old head frame, and even a pump setup. Our team’s been out doing surface mapping and rock chipping. Over 20 rock chips were taken and seven of those were over four grams a tonne. The best was 39.9. So we’re really excited. We’ve mapped the surface structure and load mineralisation. It’s narrow, but it gives us hope.
We’ve also combined historical drill data with our results, and we’ve now got sections showing mineralisation potentially plunging at depth. It’s super interesting. That’s why we like Tibooburra — we’re building a story. Next phase is to consider drilling again later this year or next year. It’s a slow burn, but we’re building the layers to understand this 20-kilometre system.
Proactive: You’ve perhaps been a bit quiet on the news front the past few weeks, but clearly a lot has been going on behind the scenes. Can you give investors an overview of what else is happening at Novo?
Mike Spreadborough: We’ll have more news flow coming. But to touch on what we’ve already said: Tibooburra is progressing. At John Bull, we’re working to get access. We’re very keen to drill there — we love John Bull near Grafton in New South Wales, but we need access.
In the Pilbara — our traditional home — we announced plans to drill at Sherlock. Those results will be out soon. Sherlock has gold and antimony targets. And we’ve also been on the ground at Egina, in the middle of the Pilbara, south of the Hemi project. It’s a joint venture area we’ve held for a long time but never accessed due to traditional owner restrictions. We’ve now been there and done a lot of work. People will start to see that news flow soon. It’s been a bit quiet due to the time it takes to get results, but now with Tibooburra, that’s starting to change.
Proactive: Lots to look forward to. That was Novo Resources’ executive co-chair and acting CEO, Mike Spreadborough. Thanks for the update.
Mike Spreadborough: Thank you very much.