Novo Resources Corp (TSX:NVO, OTCQX:NSRPF, ASX:NVO) earlier this week released new high-grade gold and antimony findings from its Pilbara tenements.
The company said recent fieldwork had returned gold grades of up to 77.5 grams per tonne from the Teichman project. These samples were collected along a 1.2 kilometre corridor, which includes the Teichman and Pride structural lines.
It highlighted that the region had produced strong historical samples, including assays up to 108 grams per tonne of gold, dating back to the late 19th and early 20th centuries. Novo confirmed that recent work supports those earlier results.
The company told investors that land access constraints had limited work at Teichman until recently, but geological teams have now returned and completed sampling.
Novo said Sherlock also delivered high-grade antimony results. It plans to return to Teichman for drilling in 2025 to further investigate the source of gold mineralisation identified in surface work.
Executive co-chairman and acting CEO Mike Spreadborough said, “We finally got on the ground and were able to get some really, really great rock chips.”
He also pointed to the strategic value of the project’s location. Teichman is situated south of Novo’s joint venture with Northern Star, and further north lies the 13.00 million ounce Hemi project.
The company is continuing its exploration work across Pilbara and New South Wales following earlier success at Tibooburra.
Proactive: Mike, we spoke about the high-grade gold you’ve intercepted at Tibooburra last week — that got a lot of traction from investors. And here we are today, talking strong gold results from Teichman and high-grade antimony from Sherlock. What more can you tell us about those findings?
Mike Spreadborough: Yeah, well, we're returning back to the Pilbara. So the Pilbara, most people would know, was Novo’s home ground before we expanded to New South Wales. So, you know, again, we haven’t been quiet — we’ve been very, very busy. Last week's announcements had two components. So let’s focus on Teichman.
Teichman has had some historical results in the past. But we’ve been back. It’s actually been a bit hard to get on the ground — we’re the first group to be on the ground for a long time, and that’s related to land access issues. But geologically, we finally got on the ground and were able to get some really, really great rock chips. And you know what’s amazing? Two or three corridors — the Teichman corridor and the Pride corridor. So have a good look at the presentation that we put out. Some of the results are great.
Let me share some of those — in rock chips: 77.5g/t, 51.4g/t, 30.3g/t, all along a 1.2km corridor. So that’s really, really super exciting. We like the geology. It’s complex.
So what’s next? We’ll try to go back there next year and see if we can do some drilling. Teichman is really exciting, early stage. Don’t forget, it’s a great real estate. North of us is our original joint venture with Northern Star. And north of that is a 13.00 million ounce Hemi project. So what do they say? Location, location, location.
Proactive: Location indeed. And speaking of which, Mike, historic high-grade rock chip samples included assays of up to 108g per tonne of gold from two main lines of workings. That was both Teichman and Pride. Are we on to something bigger this time around, you reckon?
Mike Spreadborough: Well, you never know. In the old timers’ day — you know, the 1880s and early 1900s — they were prospecting and they had some really good samples. Our work today has really followed up and confirmed their early findings. We’ll put modern exploration techniques to play and we’ll build the story up. So I really like Teichman. It’s early stage — so let’s be clear about that. Next stage is to go drilling, to see if we can really understand where those high-grade rock chip samples came from.
But the fact that it’s over a really big distance — 1.2km, two structural corridors — I think it’s really exciting for us.
Proactive: Quite exciting and a very few busy weeks ahead for Novo Resources. This was the company’s executive co-chairman and acting CEO, Mike Spreadborough. Thank you for your time.